Riverview Bancorp Q1 EPS $0.13, down 38% YoY; NIM contracts to 2.79%

RIVERVIEW BANCORP INC

2024-Q1 EPS reported $0.13

Net income $2.8M ($0.13 diluted EPS) vs $4.7M ($0.21) a year ago and $3.0M ($0.14) prior quarter.
Net interest income $10.4M, down 18% YoY; NIM fell to 2.79% from 3.11% a year ago.
Deposits decreased to $1.24B from $1.27B prior quarter; FHLB advances $136.1M.
Recorded no provision for credit losses; allowance for credit losses 1.53% of total loans.
Efficiency ratio worsened to 73.1% from 61.9% a year ago; dividend maintained at $0.06/share.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RIVERVIEW BANCORP INC reported the first fiscal quarter ended June 30, 2023 results: net income $2.8 million, EPS $0.13 per diluted share.

Period: the first fiscal quarter ended June 30, 2023
Net income: $2.8 million
EPS: $0.13 per diluted share
Result: reported results

Exact text from the filing

Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today reported earnings of $2.8 million, or $0.13 per diluted share, in the first fiscal quarter ended June 30, 2023

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Source: SEC EDGAR

accession 0000939057-23-000204

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