Riverview Bancorp sells $149.3M low-yield bonds, expects 25 bps NIM boost

RIVERVIEW BANCORP INC

Reclassified held-to-maturity securities to available-for-sale; sold $149.3M in bonds (avg yield 1.62%) for $11.4M pre-tax loss.
Proceeds to be reinvested in higher-yielding bonds, loan growth, FHLB paydowns, or cash; earn-back period expected under 3.5 years.
Expects approx. 25 bps net interest margin improvement and $0.13 annualized EPS benefit once fully realized.
No additional capital needed; company remains well-capitalized; existing stock buyback program unaffected.

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