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RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) (Tables) | 12 Months Ended
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Mar. 31, 2025
RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) |
Schedule of condensed balance sheet | BALANCE SHEETS AS OF MARCH 31, 2025 AND 2024 ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) |  | 2025 |  | 2024
ASSETS |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 5,726 | ​ | $ | 9,483
Investment in the Bank | ​ |  | 178,808 | ​ |  | 171,390
Other assets | ​ |  | 3,109 | ​ |  | 3,104
TOTAL ASSETS | ​ | $ | 187,643 | ​ | $ | 183,977
LIABILITIES AND SHAREHOLDERS’ EQUITY | ​ |  |  | ​ |  |
Accrued expenses and other liabilities | ​ | $ | 118 | ​ | $ | 118
Dividend payable | ​ |  | 420 | ​ |  | 1,267
Borrowings | ​ |  | 27,091 | ​ |  | 27,004
Shareholders' equity | ​ |  | 160,014 | ​ |  | 155,588
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | ​ | $ | 187,643 | ​ | $ | 183,977
Schedule of condensed income statement | STATEMENTS OF INCOME FOR THE YEARS ENDED MARCH 31, 2025, 2024 AND 2023 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) |  | 2025 |  | 2024 |  | 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
INCOME: |  | ​ |  |  | ​ |  |  | ​ |
Interest on investment securities and other short-term investments | ​ | $ | 129 | ​ | $ | 262 | ​ | $ | 129
Total income | ​ |  | 129 | ​ |  | 262 | ​ |  | 129
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
EXPENSE: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Management service fees paid to the Bank | ​ |  | 143 | ​ |  | 143 | ​ |  | 143
Other expenses | ​ |  | 2,095 | ​ |  | 2,180 | ​ |  | 1,424
Total expense | ​ |  | 2,238 | ​ |  | 2,323 | ​ |  | 1,567
LOSS BEFORE INCOME TAXES AND EQUITY | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
IN UNDISTRIBUTED INCOME OF THE BANK | ​ |  | (2,109) | ​ |  | (2,062) | ​ |  | (1,438)
BENEFIT FOR INCOME TAXES | ​ |  | (443) | ​ |  | (433) | ​ |  | (303)
LOSS OF PARENT COMPANY | ​ |  | (1,666) | ​ |  | (1,629) | ​ |  | (1,135)
EQUITY IN UNDISTRIBUTED INCOME OF THE BANK | ​ |  | 6,569 | ​ |  | 5,428 | ​ |  | 19,204
NET INCOME | ​ | $ | 4,903 | ​ | $ | 3,799 | ​ | $ | 18,069
Schedule of condensed cash flow statement | STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED MARCH 31, 2025, 2024 AND 2023 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) |  | 2025 |  | 2024 |  | 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
CASH FLOWS FROM OPERATING ACTIVITIES: |  | ​ |  |  | ​ |  |  | ​ |
Net income | ​ | $ | 4,903 | ​ | $ | 3,799 | ​ | $ | 18,069
Adjustments to reconcile net income to net cash used in operating activities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Equity in undistributed income of the Bank | ​ |  | (6,569) | ​ |  | (5,428) | ​ |  | (19,204)
Amortization expense | ​ |  | 87 | ​ |  | 86 | ​ |  | 85
Provision (benefit) for deferred income taxes | ​ |  | — | ​ |  | 2 | ​ |  | (1)
Stock-based compensation expense | ​ | ​ | 384 | ​ | ​ | 34 | ​ | ​ | 390
Changes in assets and liabilities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Other assets | ​ |  | (4) | ​ |  | (764) | ​ |  | (1,019)
Accrued expenses and other liabilities | ​ |  | — | ​ |  | (105) | ​ |  | 112
Net cash used in operating activities | ​ |  | (1,199) | ​ |  | (2,376) | ​ |  | (1,568)
​ | ​ |  |  | ​ |  |  | ​ |  |
CASH FLOWS FROM INVESTING ACTIVITIES: | ​ |  |  | ​ |  |  | ​ |  |
Dividend from the Bank | ​ |  | 1,975 | ​ |  | 12,000 | ​ |  | 8,000
Net cash provided by investing activities | ​ |  | 1,975 | ​ |  | 12,000 | ​ |  | 8,000
​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
CASH FLOWS FROM FINANCING ACTIVITIES: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Dividends paid | ​ |  | (2,533) | ​ |  | (5,080) | ​ |  | (5,117)
Proceeds from exercise of stock options | ​ |  | — | ​ |  | 36 | ​ |  | 4
Repurchase of common stock | ​ | ​ | (2,000) | ​ | ​ | (577) | ​ | ​ | (6,706)
Net cash used in financing activities | ​ |  | (4,533) | ​ |  | (5,621) | ​ |  | (11,819)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | ​ |  | (3,757) | ​ |  | 4,003 | ​ |  | (5,387)
​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | ​ |  | 9,483 | ​ |  | 5,480 | ​ |  | 10,867
​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
CASH AND CASH EQUIVALENTS, END OF YEAR | ​ | $ | 5,726 | ​ | $ | 9,483 | ​ | $ | 5,480
Schedule of quarterly financial information | SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollars in thousands, except per share data) | ​ | Three Months Ended
Fiscal 2025: |  | March 31 |  | December 31 |  | September 30 |  | June 30
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest and dividend income | ​ | $ | 14,494 | ​ | $ | 15,127 | ​ | $ | 14,942 | ​ | $ | 14,399
Interest expense | ​ |  | 5,301 | ​ |  | 5,739 | ​ |  | 6,000 | ​ |  | 5,578
Net interest income | ​ |  | 9,193 | ​ |  | 9,388 | ​ |  | 8,942 | ​ |  | 8,821
Provision for credit losses | ​ |  | — | ​ | ​ | — | ​ | ​ | 100 | ​ | ​ | —
Non-interest income, net | ​ |  | 3,707 | ​ |  | 3,341 | ​ |  | 3,841 | ​ |  | 3,367
Non-interest expense | ​ |  | 11,438 | ​ |  | 11,154 | ​ |  | 10,701 | ​ |  | 10,969
Income before income taxes | ​ |  | 1,462 | ​ |  | 1,575 | ​ |  | 1,982 | ​ |  | 1,219
Provision for income taxes | ​ |  | 314 | ​ |  | 343 | ​ |  | 425 | ​ |  | 253
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Net income | ​ | $ | 1,148 | ​ | $ | 1,232 | ​ | $ | 1,557 | ​ | $ | 966
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Basic earnings per common share (1) | ​ | $ | 0.05 | ​ | $ | 0.06 | ​ | $ | 0.07 | ​ | $ | 0.05
​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Diluted earnings per common share (1) | ​ | $ | 0.05 | ​ | $ | 0.06 | ​ | $ | 0.07 | ​ | $ | 0.05
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fiscal 2024: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest and dividend income | ​ | $ | 14,291 | ​ | $ | 14,272 | ​ | $ | 14,035 | ​ | $ | 13,957
Interest expense | ​ |  | 5,739 | ​ |  | 4,948 | ​ |  | 4,184 | ​ |  | 3,598
Net interest income | ​ |  | 8,552 | ​ |  | 9,324 | ​ |  | 9,851 | ​ |  | 10,359
Provision for credit losses | ​ |  | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Non-interest income, net | ​ |  | 494 | ​ |  | 3,056 | ​ |  | 3,407 | ​ |  | 3,285
Non-interest expense | ​ |  | 13,109 | ​ |  | 10,551 | ​ |  | 10,089 | ​ |  | 9,978
Income (loss) before income taxes | ​ |  | (4,063) | ​ |  | 1,829 | ​ |  | 3,169 | ​ |  | 3,666
Provision (benefit) for income taxes | ​ |  | (1,095) | ​ |  | 377 | ​ |  | 697 | ​ |  | 823
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Net (loss) income | ​ | $ | (2,968) | ​ | $ | 1,452 | ​ | $ | 2,472 | ​ | $ | 2,843
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Basic earnings (loss) per common share (1) | ​ | $ | (0.14) | ​ | $ | 0.07 | ​ | $ | 0.12 | ​ | $ | 0.13
​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Diluted earnings (loss) per common share (1) | ​ | $ | (0.14) | ​ | $ | 0.07 | ​ | $ | 0.12 | ​ | $ | 0.13
​
(1) | Quarterly earnings per common share may vary from annual earnings per common share due to rounding.

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