Riverview Bancorp, Inc.
Annual Report 2025

Plain-text annual report

ANNUAL REPORT 2025 | RIVERVIEW BANCORP, INC We are proud to share the successes and milestones achieved by Riverview Bancorp. Our commitment remains steadfast: our people, our clients, and our community while delivering enhanced value to you – our shareholders. The Plan Success is built from a great plan. Our board of directors and executive team worked together to create a strategic plan that is our roadmap for the next three years. Anthem - “Seen, Heard, and Valued” is more than a rally cry, it’s our anthem. We wanted the anthem to be deep in meaning and something that all of us can declare. The focus includes our employees, clients, community, and shareholders. We are a people business, and we believe that when our team, clients, and community are seen, heard, and valued, our shareholders benefit, and all stakeholders thrive. The plan has five strategic priorities: • Employer of Choice • Profitable Growth • Client Experience • Digital Experience • Data Empowerment The plan launched in March. Major headway has already been achieved in each category. In fact, our new investor site was the first project to be completed in the plan. Our Employees We believe that talented and engaged employees are the key to delivering an exceptional client experience, driving innovation, and deepening an extraordinary culture. We have expanded our learning and development offerings to train our team for consistency throughout the company so that careers flourish and clients benefit. We are building for growth and have made strategic investments in our people so that we reach new clients and further develop relationships with current clients. WELCOME TO RIVERVIEW Our Clients We consistently receive positive feedback highlighting our team’s expertise and the high quality of client service provided. This is key as we continue to grow and expand services and solutions for clients. In addition to our expertise in commercial real estate, we have expanded our commercial & industrial team and added a robust business banking group. To complement these teams and assist our business clients in their success, we are building best-in-class treasury management services. Earlier this year we also introduced an updated digital banking platform making it easier for clients to manage their money. We want clients to have the convenience of banking when and how they want. Our approach combines high tech with high touch, ensuring a seamless banking experience for both individuals and businesses. Our Community We excel in serving and supporting our community. Riverview employees serve on 46 boards and committee positions for area nonprofit organizations, and the bank is committed to investing in the communities where we live, work, and play. We believe in our nonprofit community and strive to provide opportunities for them to build wealth. As a community bank, our success is deeply intertwined with the well-being of our community and the trust of our clients and employees. We are committed to continuing this legacy by innovating thoughtfully, operating responsibly, and giving back generously. Our Shareholders We continue to enhance shareholder value through overall improved profitability and a share repurchase program which provides additional liquidity to our stock. Our loan portfolio grew by 3.8% while maintaining deposit balances year over year. Net income increased to $4.9 million compared to $3.8 million in the previous year. Our capital levels remained strong with a total risk-based capital ratio of 16.48% and a leverage ratio of 11.10% as of March 31, 2025. Maintaining a strong credit culture is paramount while continuing to focus on safe and sound banking practices. Looking ahead, we are excited about our future. We continue to focus on prudent growth, operational excellence, and creating value for all stakeholders while remaining true to our foundational principles. Thank you for your ongoing support, trust, and partnership. Together, we embrace the future with confidence and purpose. It’s about you. Gerald Nies, Chairperson of the Board of Directors Nicole Sherman, Chief Executive Off icer FINANCIAL HIGHLIGHTS TOTAL ASSETS TOTAL LOANS DEPOSITS RIVERVIEW TRUST COMPANY For complete financial details and other information, please see the 2025 Riverview Bancorp, Inc. 10-K. FOR THE YEAR ENDED MARCH 31 (Dollars in thousands, except share data) Interest income and dividend income Interest expense Net interest income Provision for credit losses Net interest income after provision for credit losses Non-interest income Non-interest expense Income before income taxes Provision for income taxes Net income Average # of common shares outstanding 56,555 18,469 38,086 - 38,086 10,242 43,727 4,601 802 3,799 21,137,976 58,962 22,618 36,344 100 36,244 14,256 44,262 6,238 1,335 4,903 21,063,467 55,666 4,060 51,606 750 50,856 12,194 39,371 23,679 5,610 18,069 21,637,526 2025 2024 2023 $ $ $ $ $ $ 0.18 0.24 7.37 4.72 0.23 0.08 7.63 5.65 0.83 0.24 7.32 5.34 PER COMMON SHARE Net income (per diluted share) Cash dividends Book value Closing price 2025 2024 2023 $ $ $ 1,521,529 1,008,649 1,231,679 155,588 21,111,043 226 17 1,513,323 1,047,086 1,232,328 160,014 20,976,200 238 17 1,589,712 993,547 1,265,217 155,239 21,221,960 229 17 FISCAL YEAR-END BALANCES Assets Loans, net Deposits Shareholders’ equity Total # of common shares outstanding Full-time equivalent employees Number of banking facilities 2025 2024 2023 $ $ $ 0.24% 2.43% 2.56% 90.48% 0.01% 1.50% 10.23% 0.32% 3.09% 2.54% 87.47% 0.01% 1.45% 10.57% 1.08% 11.71% 3.26% 61.71% 0.12% 1.52% 9.77% FINANCIAL RATIOS Return on average assets Return on average common equity Net interest margin Efficiency ratio Non-performing assets to total assets Allowance for credit losses to total loans Equity to assets at period end 2025 2024 2023 Financial data is presented as of RVSB’s Fiscal Year Ended March 31 for each respective year Totals for March 31, 2021 and 2022 include $93.4 million and $3.1 million of PPP loans, respectively. COMMUNITY IMPACT $311,850 IN DONATIONS TO LOCAL ORGANIZATIONS WHOSE MISSIONS INCLUDE: EMPOWERING COMMUNITIES 118 ORGANIZATIONS SUPPORTED THANK YOU Riverview’s team live, play, and work in the communities we serve. We champion local organizations across our footprint, knowing the power of meaningful, local impact. Our commitment goes beyond financial support. Our team members dedicate their time, talent, and expertise by serving on boards and engaging in hands-on community service. Through collaboration and shared purpose, we drive positive change because when we work together, great things happen. Our Mission We are a true partner in our communities by ensuring people feel seen, heard, and valued. We move beyond the transactional- based experience to foster relationships with genuine care. Our Vision To be the preferred place to bank and work in the PNW. Our Values Bring your best self Take care of each other Do the right thing Embrace change Find a better way together Connect with our communities At the heart of our mission is a deep commitment to the communities we serve. Through our Community Reinvestment Act (CRA) initiatives, we’re not just meeting regulatory requirement, we’re building lasting partnerships, expanding access to financial education, and investing in opportunities that uplift our community. Riverview is supporting programs that reflect the real needs of our community because when our neighbors thrive, we all do. Together, we’re transforming impact into a shared future of growth and possibility. Thank you to all our remarkable employees, clients, community partners, and shareholders for believing in our mission, making an impact, and creating lasting change in our community. It fuels everything we do. Your compassion, time, and loyalty has assisted Riverview grow deeper roots in the community and reach higher than we ever imagined. It’s about you. Our commitment to our core values guides every decision we make and every action we take. These values are more than just words; they are the foundation of how we engage with one another and with our community. Riverview is ready for what’s next. The future is bright. Animal Welfare Arts and Entertainment Childrens Services Civic Services Early Childhood Education Economic Development Education Environment Family Services Financial Literacy Food Drives/Hunger Relief Health and Fitness Houselessness Homeownership Parks and Recreation Senior Services Veteran Services 1,909 EMPLOYEE SERVICE HOURS 408.5 CRA ELIGIBLE SERVICE HOURS 46 BOARD OF DIRECTOR/COMMITTEE POSITIONS HELD BY TEAM MEMBERS Riverview Bank and Trust Company team volunteering together at a local food bank Thank you! CORPORTE OFFICE 900 Washington Street, Suite 900 Vancouver, WA 98660 360-514-5000 800-822-2076 CONTACT US NASDAQ Global Select Market Symbol RVSB STOCK LISTING Broadridge Corporate Issuer Solutions, Inc. 855-802-4983 shareholder@broadridge.com TRANSFER AGENT investors.riverviewbank.com riverviewbank.com riverviewtrust.com Media Contact: Denise Barr | SVP/Marketing Strategist denisebarr@riverviewbank.com CONNECT WITH US Gerald Nies | Chairperson Bess Wills | Vice Chairperson Nicole Sherman Bradley Carlson Patricia Eby Stacey Graham Larry Hoff Valerie Moreno Nicole Sherman Chief Executive Officer/President David Lam EVP/Chief Financial Officer Dan Cox EVP/Chief Operating Officer Robert Benke EVP/Chief Credit Officer Charmaine Lightheart EVP/Chief Retail and Digital Engagement Officer Michael Sventek EVP/Chief Lending Officer BOARD OF DIRECTORS EXECUTIVE TEAM

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