secwatch.observer — SEC 8-K summary
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Issuer:     RIVERVIEW BANCORP INC (RVSB)
CIK:        0001041368
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0000939057-24-000093
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Riverview Bancorp reports Q4 net loss of $3.0M on securities sale and litigation charge
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- Net loss of $3.0M (-$0.14 diluted EPS) in Q4, vs net income of $1.5M in prior quarter and $3.0M year ago.
- Sold $46.2M in lower-yielding securities, pre-tax loss $2.7M; proceeds used to repay $43.5M FHLB advances.
- Recorded $2.3M litigation expense for proposed settlement related to former client; settlement subject to court approval.
- Net interest margin contracted to 2.32% from 2.49% prior quarter and 3.16% year ago; net interest income $8.6M.
- Total risk-based capital ratio 16.32%; tangible book value $6.07; paid $0.06 quarterly dividend.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1041368/000093905724000093/0000939057-24-000093-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1041368/000093905724000093/riv8k42524.htm
  HTML page:      https://secwatch.observer/filing/0000939057-24-000093

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