RVSB · Riverview Bancorp, Inc.

Riverview Bancorp's fiscal fourth quarter 2026 results were dominated by a strategic balance sheet optimization executed on March 25, 2026. The company reclassified its entire held-to-maturity securities portfolio to available-for-sale and sold $149.3 million in lower-yielding bonds (average yield 1.62%) for a pre-tax loss of $11.4 million, generating $137.9 million in cash proceeds. This resulted in a GAAP net loss of $8.0 million ($0.39 per diluted share) for the quarter. Excluding the optimization, non-GAAP net income was $656,000 ($0.03 per share), down from $1.1 million ($0.05) in the same quarter last year, reflecting higher non-interest expense and a slight decline in non-interest income.

Net interest income rose to $10.2 million from $9.2 million a year ago, driven by a 27-basis-point expansion in net interest margin to 2.92%. The improvement was attributed to higher asset yields from new loan originations and repricing, partially offset by the absence of prepayment fees recognized in the prior quarter. Loan yields were 5.12% versus 4.91% a year ago. Deposit costs decreased to 1.37% from 1.39% in the prior quarter, but were up from 1.30% a year ago.

Credit quality remained solid with non-performing assets at 0.53% of total assets. The company booked a $1.2 million provision and had net charge-offs of $1.1 million. Non-interest expense was $11.5 million, slightly above $11.4 million a year ago, as the company invested in business banking teams and digital initiatives.

Management expects the balance sheet optimization to add approximately 25 basis points to net interest margin and $0.13 to annual earnings per share once fully realized, with an estimated earn-back period of less than 3.5 years. The company also paid a $0.02 per share dividend and repurchased 130,059 shares at an average price of $5.36 during the quarter under a $4.0 million buyback program.