Real estate dip cuts into Riverview’s profits
Wednesday, May 07, 2008
By The ColumbianRiverview Bancorp, the parent company of Riverview Community Bank, reported its fiscal 2008 year ended March 31 with net income of $8.6 million, or 79 cents per diluted share. That was a 26 percent decrease from the previous year.
Pat Sheaffer, Riverview CEO and board chairman, said the slowing residential real estate market and associated increase in the bank’s provision for loan losses were the biggest contributors to the lower profits. | 
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