XML 43 R28.htm IDEA: XBRL DOCUMENT
v3.21.2

RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) | 12 Months Ended
--- | ---
Mar. 31, 2021
RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) |
RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) | 19. RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) BALANCE SHEETS AS OF MARCH 31, 2021 AND 2020
(In thousands) |  | 2021 |  | 2020
ASSETS |  |  |  |  |  |
Cash and cash equivalents |  | $ | 10,006 |  | $ | 10,269
Investment in the Bank |  |  | 168,064 |  |  | 165,130
Other assets |  |  | 1,454 |  |  | 1,440
TOTAL ASSETS |  | $ | 179,524 |  | $ | 176,839
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |
Accrued expenses and other liabilities |  | $ | 64 |  | $ | 199
Dividend payable |  |  | 1,118 |  |  | 1,135
Borrowings |  |  | 26,748 |  |  | 26,662
Shareholders' equity |  |  | 151,594 |  |  | 148,843
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |  | $ | 179,524 |  | $ | 176,839
STATEMENTS OF INCOME FOR THE YEARS ENDED MARCH 31, 2021, 2020 AND 2019
(In thousands) |  | 2021 |  | 2020 |  | 2019
INCOME: |  |  |  |  |  |  |  |  |
Interest on investment securities and other short-term investments |  | $ | 17 |  | $ | 33 |  | $ | 35
Total income |  |  | 17 |  |  | 33 |  |  | 35
EXPENSE: |  |  |  |  |  |  |  |  |
Management service fees paid to the Bank |  |  | 143 |  |  | 143 |  |  | 143
Other expenses |  |  | 731 |  |  | 1,233 |  |  | 1,298
Total expense |  |  | 874 |  |  | 1,376 |  |  | 1,441
LOSS BEFORE INCOME TAXES AND EQUITY |  |  |  |  |  |  |  |  |
IN UNDISTRIBUTED INCOME OF THE BANK |  |  | (857) |  |  | (1,343) |  |  | (1,406)
BENEFIT FOR INCOME TAXES |  |  | (180) |  |  | (282) |  |  | (294)
LOSS OF PARENT COMPANY |  |  | (677) |  |  | (1,061) |  |  | (1,112)
EQUITY IN UNDISTRIBUTED INCOME OF THE BANK |  |  | 11,149 |  |  | 16,809 |  |  | 18,378
NET INCOME |  | $ | 10,472 |  | $ | 15,748 |  | $ | 17,266
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, 2021, 2020 AND 2019
(In thousands) |  | 2021 |  | 2020 |  | 2019
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |
Net income |  | $ | 10,472 |  | $ | 15,748 |  | $ | 17,266
Adjustments to reconcile net income to net cash used in operating activities: |  |  |  |  |  |  |  |  |
Equity in undistributed income of the Bank |  |  | (11,149) |  |  | (16,809) |  |  | (18,378)
Amortization |  |  | 86 |  |  | 87 |  |  | 91
Provision for deferred income taxes |  |  | — |  |  | — |  |  | 10
Stock-based compensation |  |  | 396 |  |  | 346 |  |  | 44
Changes in assets and liabilities: |  |  |  |  |  |  |  |  |
Other assets |  |  | 224 |  |  | (278) |  |  | (447)
Accrued expenses and other liabilities |  |  | (417) |  |  | 364 |  |  | 97
Net cash used in operating activities |  |  | (388) |  |  | (542) |  |  | (1,317)
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |
Dividend from the Bank |  |  | 6,000 |  |  | 11,500 |  |  | 2,000
Net cash provided by investing activities |  |  | 6,000 |  |  | 11,500 |  |  | 2,000
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |
Dividends paid |  |  | (4,478) |  |  | (4,075) |  |  | (3,163)
Proceeds from exercise of stock options |  |  | 50 |  |  | 227 |  |  | 179
Repurchase of common stock |  |  | (1,447) |  |  | (1,019) |  |  | —
Net cash used in financing activities |  |  | (5,875) |  |  | (4,867) |  |  | (2,984)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  | (263) |  |  | 6,091 |  |  | (2,301)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR |  |  | 10,269 |  |  | 4,178 |  |  | 6,479
CASH AND CASH EQUIVALENTS, END OF YEAR |  | $ | 10,006 |  | $ | 10,269 |  | $ | 4,178
RIVERVIEW BANCORP, INC. SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED):
(Dollars in thousands, except per share data) |  | Three Months Ended
|  |  |  |  |  | December |  |  | September |  |  |
Fiscal 2021: |  | March 31 |  | 31 |  | 30 |  | June 30
Interest and dividend income |  | $ | 11,865 |  | $ | 12,292 |  | $ | 11,949 |  | $ | 12,238
Interest expense |  |  | 669 |  |  | 763 |  |  | 885 |  |  | 1,110
Net interest income |  |  | 11,196 |  |  | 11,529 |  |  | 11,064 |  |  | 11,128
Provision for loan losses |  |  | — |  |  | — |  |  | 1,800 |  |  | 4,500
Non-interest income, net |  |  | 2,836 |  |  | 2,812 |  |  | 2,819 |  |  | 2,623
Non-interest expense |  |  | 9,626 |  |  | 9,107 |  |  | 8,836 |  |  | 8,685
Income before income taxes |  |  | 4,406 |  |  | 5,234 |  |  | 3,247 |  |  | 566
Provision for income taxes |  |  | 992 |  |  | 1,199 |  |  | 704 |  |  | 86
Net income |  | $ | 3,414 |  | $ | 4,035 |  | $ | 2,543 |  | $ | 480
Basic earnings per common share (1) |  | $ | 0.15 |  | $ | 0.18 |  | $ | 0.11 |  | $ | 0.02
Diluted earnings per common share (1) |  | $ | 0.15 |  | $ | 0.18 |  | $ | 0.11 |  | $ | 0.02
Fiscal 2020: |  |  |  |  |  |  |  |  |  |  |  |
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
| (1) |  | Quarterly earnings per common share may vary from annual earnings per common share due to rounding.

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 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 Reference 3: 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(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration