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Tuesday, March 19, 2024
March 19, 2024

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Riverview reports earnings for third quarter

The Columbian
Published:

Vancouver-based Riverview Bancorp earned $1.1 million, or $0.05 per diluted share, in its third fiscal quarter that ended Dec. 31, 2014, the company reported Thursday. Those earnings were identical to the preceeding quarter and surpassed last year’s third quarter earnings of $801,000.

The bank reported $567.4 million in loans, a 12 percent increase from last year’s third quarter loans of $505.6 million. It was the bank’s fourth consecutive quarter of net loan growth. Riverview reported $36.3 million in loan originations during the quarter.

“Our market contains one of the fastest recovering economies in the country and our lending teams are taking advantage of those opportunities,” said Ron Wysaske, president and chief operating officer. As a result, we saw growth in nearly every loan category while strengthening our overall asset quality.”

Riverview’s total deposits were $689.3 million, compared to $702.6 million in the previous quarter and $689.3 million a year ago. The bank attributed the decrease in deposit totals to seasonal factors and a decline in certificate of deposit balances.

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