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PRINCIPLES OF CONSOLIDATION
9 Months Ended
Dec. 31, 2019
PRINCIPLES OF CONSOLIDATION  
PRINCIPLES OF CONSOLIDATION

2.      PRINCIPLES OF CONSOLIDATION

The accompanying unaudited consolidated financial statements include the accounts of Riverview Bancorp, Inc.; its wholly-owned subsidiary, Riverview Community Bank (the “Bank”); the Bank’s wholly-owned subsidiary, Riverview Services, Inc.; and the Bank’s majority-owned subsidiary, Riverview Trust Company (the “Trust Company”) (collectively referred to as the “Company”). All inter-company transactions and balances have been eliminated in consolidation. During the quarter ended December 31, 2019, the Trust Company issued 1,500 shares of Trust Company stock in conjunction with the exercise of 1,500 Trust Company stock options by the Trust Company's President and Chief Executive Officer, creating a noncontrolling interest. As a result of this transaction, the Bank's ownership in the Trust Company decreased from 100% to 98% at December 31, 2019. Noncontrolling interest was $104,000 as of December 31, 2019, and net income attributable to the noncontrolling interest was $2,000 for both the three and nine months ended December 31, 2019. These amounts are disclosed herein and not presented separately in the accompanying unaudited consolidated financial statements due to their insignificance.