Riverview Bancorp reports record FY2022 net income $21.8M; Q4 EPS $0.19 down from $0.25 prior quarter

RIVERVIEW BANCORP INC

2022-FY EPS reported $0.98

Net income for fiscal 2022 more than doubled to $21.8M ($0.98 diluted EPS) vs $10.5M ($0.47) in fiscal 2021.
Q4 net income $4.1M ($0.19 diluted EPS) vs $5.5M ($0.25) prior quarter; net interest margin 2.98%.
Total loans increased $28.2M (11.9% annualized) during Q4, with organic growth of $28.5M; loan pipeline $101.4M.
Non-performing assets rose to $22.1M (1.27% of assets) from $1.8M (0.11%) due to SBA guaranteed loan servicing transfer; company expects resolution.
Recorded a $650,000 recapture of loan losses; total risk-based capital ratio 16.38%; Tier 1 leverage 9.19%.

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