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RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) | 12 Months Ended
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Mar. 31, 2020
Condensed Financial Information Disclosure [Abstract] |
RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) | 19. RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) BALANCE SHEETS AS OF MARCH 31, 2020 AND 2019
(In thousands) |  | 2020 |  | 2019
ASSETS |  |  |  |  |  |
Cash and cash equivalents |  | $ | 10,269 |  | $ | 4,178
Investment in the Bank |  |  | 165,130 |  |  | 155,041
Other assets |  |  | 1,440 |  |  | 1,445
TOTAL ASSETS |  | $ | 176,839 |  | $ | 160,664
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |
Accrued expenses and other liabilities |  | $ | 199 |  | $ | 63
Dividend payable |  |  | 1,135 |  |  | 904
Borrowings |  |  | 26,662 |  |  | 26,575
Shareholders' equity |  |  | 148,843 |  |  | 133,122
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY |  | $ | 176,839 |  | $ | 160,664
STATEMENTS OF INCOME FOR THE YEARS ENDED MARCH 31, 2020, 2019 AND 2018
(In thousands) |  | 2020 |  | 2019 |  | 2018
INCOME: |  |  |  |  |  |  |  |  |
Interest on investment securities and other short-term investments |  | $ | 33 |  | $ | 35 |  | $ | 26
Interest on loan receivable from the Bank |  |  | — |  |  | — |  |  | 6
Total income |  |  | 33 |  |  | 35 |  |  | 32
EXPENSE: |  |  |  |  |  |  |  |  |
Management service fees paid to the Bank |  |  | 143 |  |  | 143 |  |  | 143
Other expenses |  |  | 1,233 |  |  | 1,298 |  |  | 1,020
Total expense |  |  | 1,376 |  |  | 1,441 |  |  | 1,163
LOSS BEFORE INCOME TAXES AND EQUITY |  |  |  |  |  |  |  |  |
IN UNDISTRIBUTED INCOME OF THE BANK |  |  | (1,343) |  |  | (1,406) |  |  | (1,131)
BENEFIT FOR INCOME TAXES |  |  | (282) |  |  | (294) |  |  | (513)
LOSS OF PARENT COMPANY |  |  | (1,061) |  |  | (1,112) |  |  | (618)
EQUITY IN UNDISTRIBUTED INCOME OF THE BANK |  |  | 16,809 |  |  | 18,378 |  |  | 10,860
NET INCOME |  | $ | 15,748 |  | $ | 17,266 |  | $ | 10,242
There were no items of other comprehensive income that were solely attributable to the parent company. RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED MARCH 31, 2020, 2019 AND 2018
(In thousands) |  | 2020 |  | 2019 |  | 2018
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |
Net income |  | $ | 15,748 |  | $ | 17,266 |  | $ | 10,242
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |
Equity in undistributed income of the Bank |  |  | (16,809) |  |  | (18,378) |  |  | (10,860)
Amortization |  |  | 87 |  |  | 91 |  |  | 94
Provision for deferred income taxes |  |  | — |  |  | 10 |  |  | 174
Earned ESOP shares |  |  | — |  |  | — |  |  | 148
Stock based compensation |  |  | 346 |  |  | 44 |  |  | 88
Changes in assets and liabilities: |  |  |  |  |  |  |  |  |
Other assets |  |  | (278) |  |  | (447) |  |  | 1,770
Accrued expenses and other liabilities |  |  | 364 |  |  | 97 |  |  | (220)
Net cash provided by (used in) operating activities |  |  | (542) |  |  | (1,317) |  |  | 1,436
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |
Dividend from the Bank |  |  | 11,500 |  |  | 2,000 |  |  | 1,750
Net cash provided by investing activities |  |  | 11,500 |  |  | 2,000 |  |  | 1,750
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |
Dividends paid |  |  | (4,075) |  |  | (3,163) |  |  | (2,140)
Proceeds from exercise of stock options |  |  | 227 |  |  | 179 |  |  | 245
Repurchase of common stock |  |  | (1,019) |  |  | — |  |  | —
Net cash used in financing activities |  |  | (4,867) |  |  | (2,984) |  |  | (1,895)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  | 6,091 |  |  | (2,301) |  |  | 1,291
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR |  |  | 4,178 |  |  | 6,479 |  |  | 5,188
CASH AND CASH EQUIVALENTS, END OF YEAR |  | $ | 10,269 |  | $ | 4,178 |  | $ | 6,479
RIVERVIEW BANCORP, INC. SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED):
(Dollars in thousands, except per share data) |  | Three Months Ended
Fiscal 2020: |  | March 31 |  | December 31 |  | September 30 |  | June 30
Interest and dividend income |  | $ | 12,291 |  | $ | 12,766 |  | $ | 12,882 |  | $ | 12,556
Interest expense |  |  | 1,241 |  |  | 1,274 |  |  | 1,163 |  |  | 1,086
Net interest income |  |  | 11,050 |  |  | 11,492 |  |  | 11,719 |  |  | 11,470
Provision for loan losses |  |  | 1,250 |  |  | — |  |  | — |  |  | —
Non-interest income, net |  |  | 2,892 |  |  | 3,163 |  |  | 3,169 |  |  | 3,136
Non-interest expense |  |  | 8,818 |  |  | 9,248 |  |  | 9,003 |  |  | 9,194
Income before income taxes |  |  | 3,874 |  |  | 5,407 |  |  | 5,885 |  |  | 5,412
Provision for income taxes |  |  | 980 |  |  | 1,279 |  |  | 1,351 |  |  | 1,220
Net income |  | $ | 2,894 |  | $ | 4,128 |  | $ | 4,534 |  | $ | 4,192
Basic earnings per common share (1) |  | $ | 0.13 |  | $ | 0.18 |  | $ | 0.20 |  | $ | 0.19
Diluted earnings per common share (1) |  | $ | 0.13 |  | $ | 0.18 |  | $ | 0.20 |  | $ | 0.18
Fiscal 2019: |  |  |  |  |  |  |  |  |  |  |  |
Interest and dividend income |  | $ | 12,802 |  | $ | 12,390 |  | $ | 12,389 |  | $ | 12,288
Interest expense |  |  | 930 |  |  | 656 |  |  | 611 |  |  | 618
Net interest income |  |  | 11,872 |  |  | 11,734 |  |  | 11,778 |  |  | 11,670
Provision for loan losses |  |  | — |  |  | - |  |  | 250 |  |  | (200)
Non-interest income, net |  |  | 2,670 |  |  | 2,728 |  |  | 2,840 |  |  | 2,869
Non-interest expense |  |  | 8,962 |  |  | 8,803 |  |  | 8,915 |  |  | 9,019
Income before income taxes |  |  | 5,580 |  |  | 5,659 |  |  | 5,453 |  |  | 5,720
Provision for income taxes |  |  | 1,373 |  |  | 1,271 |  |  | 1,224 |  |  | 1,278
Net income |  | $ | 4,207 |  | $ | 4,388 |  | $ | 4,229 |  | $ | 4,442
Basic earnings per common share (1) |  | $ | 0.19 |  | $ | 0.19 |  | $ | 0.19 |  | $ | 0.20
Diluted earnings per common share (1) |  | $ | 0.19 |  | $ | 0.19 |  | $ | 0.19 |  | $ | 0.20
| (1) |  | Quarterly earnings per common share may vary from annual earnings per common share due to rounding.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 + Details
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