XML 57 R43.htm IDEA: XBRL DOCUMENT
v3.22.1

RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) (Tables) | 12 Months Ended
--- | ---
Mar. 31, 2022
RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) |
Schedule of condensed balance sheet | BALANCE SHEETS AS OF MARCH 31, 2022 AND 2021 ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) |  | 2022 |  | 2021
ASSETS |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 10,867 | ​ | $ | 10,006
Investment in the Bank | ​ |  | 173,223 | ​ |  | 168,064
Other assets | ​ |  | 1,321 | ​ |  | 1,454
TOTAL ASSETS | ​ | $ | 185,411 | ​ | $ | 179,524
LIABILITIES AND SHAREHOLDERS’ EQUITY | ​ |  |  | ​ |  |
Accrued expenses and other liabilities | ​ | $ | 112 | ​ | $ | 64
Dividend payable | ​ |  | 1,217 | ​ |  | 1,118
Borrowings | ​ |  | 26,833 | ​ |  | 26,748
Shareholders' equity | ​ |  | 157,249 | ​ |  | 151,594
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | ​ | $ | 185,411 | ​ | $ | 179,524
Schedule of condensed income statement | STATEMENTS OF INCOME FOR THE YEARS ENDED MARCH 31, 2022, 2021 AND 2020 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) |  | 2022 |  | 2021 |  | 2020
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
INCOME: |  | ​ |  |  | ​ |  |  | ​ |
Interest on investment securities and other short-term investments | ​ | $ | 16 | ​ | $ | 17 | ​ | $ | 33
Total income | ​ |  | 16 | ​ |  | 17 | ​ |  | 33
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
EXPENSE: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Management service fees paid to the Bank | ​ |  | 143 | ​ |  | 143 | ​ |  | 143
Other expenses | ​ |  | 670 | ​ |  | 731 | ​ |  | 1,233
Total expense | ​ |  | 813 | ​ |  | 874 | ​ |  | 1,376
LOSS BEFORE INCOME TAXES AND EQUITY | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
IN UNDISTRIBUTED INCOME OF THE BANK | ​ |  | (797) | ​ |  | (857) | ​ |  | (1,343)
BENEFIT FOR INCOME TAXES | ​ |  | (167) | ​ |  | (180) | ​ |  | (282)
LOSS OF PARENT COMPANY | ​ |  | (630) | ​ |  | (677) | ​ |  | (1,061)
EQUITY IN UNDISTRIBUTED INCOME OF THE BANK | ​ |  | 22,450 | ​ |  | 11,149 | ​ |  | 16,809
NET INCOME | ​ | $ | 21,820 | ​ | $ | 10,472 | ​ | $ | 15,748
Schedule of condensed cash flow statement | STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED MARCH 31, 2022, 2021 AND 2020 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) |  | 2022 |  | 2021 |  | 2020
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
CASH FLOWS FROM OPERATING ACTIVITIES: |  | ​ |  |  | ​ |  |  | ​ |
Net income | ​ | $ | 21,820 | ​ | $ | 10,472 | ​ | $ | 15,748
Adjustments to reconcile net income to net cash used in operating activities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Equity in undistributed income of the Bank | ​ |  | (22,450) | ​ |  | (11,149) | ​ |  | (16,809)
Amortization | ​ |  | 85 | ​ |  | 86 | ​ |  | 87
Provision for deferred income taxes | ​ |  | 2 | ​ |  | — | ​ |  | —
Stock-based compensation | ​ | ​ | 319 | ​ | ​ | 396 | ​ | ​ | 346
Changes in assets and liabilities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Other assets | ​ |  | 131 | ​ |  | 224 | ​ |  | (278)
Accrued expenses and other liabilities | ​ |  | 48 | ​ |  | (417) | ​ |  | 364
Net cash used in operating activities | ​ |  | (45) | ​ |  | (388) | ​ |  | (542)
​ | ​ |  |  | ​ |  |  | ​ |  |
CASH FLOWS FROM INVESTING ACTIVITIES: | ​ |  |  | ​ |  |  | ​ |  |
Dividend from the Bank | ​ |  | 7,500 | ​ |  | 6,000 | ​ |  | 11,500
Net cash provided by investing activities | ​ |  | 7,500 | ​ |  | 6,000 | ​ |  | 11,500
​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
CASH FLOWS FROM FINANCING ACTIVITIES: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Dividends paid | ​ |  | (4,670) | ​ |  | (4,478) | ​ |  | (4,075)
Proceeds from exercise of stock options | ​ |  | 16 | ​ |  | 50 | ​ |  | 227
Repurchase of common stock | ​ | ​ | (1,940) | ​ | ​ | (1,447) | ​ | ​ | (1,019)
Net cash used in financing activities | ​ |  | (6,594) | ​ |  | (5,875) | ​ |  | (4,867)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | ​ |  | 861 | ​ |  | (263) | ​ |  | 6,091
​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | ​ |  | 10,006 | ​ |  | 10,269 | ​ |  | 4,178
​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
CASH AND CASH EQUIVALENTS, END OF YEAR | ​ | $ | 10,867 | ​ | $ | 10,006 | ​ | $ | 10,269
Schedule of quarterly financial information | SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollars in thousands, except per share data) | ​ | Three Months Ended
Fiscal 2022: |  | March 31 |  | December 31 |  | September 30 |  | June 30
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest and dividend income | ​ | $ | 12,389 | ​ | $ | 12,551 | ​ | $ | 12,965 | ​ | $ | 11,920
Interest expense | ​ |  | 483 | ​ |  | 492 | ​ |  | 589 | ​ |  | 636
Net interest income | ​ |  | 11,906 | ​ |  | 12,059 | ​ |  | 12,376 | ​ |  | 11,284
Recapture of loan losses | ​ |  | (650) | ​ | ​ | (1,275) | ​ | ​ | (1,100) | ​ | ​ | (1,600)
Non-interest income, net | ​ |  | 2,966 | ​ |  | 3,116 | ​ |  | 3,074 | ​ |  | 3,588
Non-interest expense | ​ |  | 10,115 | ​ |  | 9,279 | ​ |  | 8,187 | ​ |  | 9,137
Income before income taxes | ​ |  | 5,407 | ​ |  | 7,171 | ​ |  | 8,363 | ​ |  | 7,335
Provision for income taxes | ​ |  | 1,282 | ​ |  | 1,661 | ​ |  | 1,933 | ​ |  | 1,580
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Net income | ​ | $ | 4,125 | ​ | $ | 5,510 | ​ | $ | 6,430 | ​ | $ | 5,755
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Basic earnings per common share (1) | ​ | $ | 0.19 | ​ | $ | 0.25 | ​ | $ | 0.29 | ​ | $ | 0.26
​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Diluted earnings per common share (1) | ​ | $ | 0.19 | ​ | $ | 0.25 | ​ | $ | 0.29 | ​ | $ | 0.26
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fiscal 2021: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
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
​
(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 Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124502072&loc=d3e1280-108306 + Details
Name: | us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration