Riverview Bancorp Inc., the parent company of Riverview Community Bank, recently announced its net income increased to $579,000, or $0.03 per diluted share, for the third fiscal quarter ended December 31, 2010. In its third fiscal quarter results one year ago, the company reported a net loss of $1.3 million.
For the first nine months of fiscal 2011, Riverview said it earned $3.5 million, or $0.20 per diluted share.
"We posted our third consecutive profitable quarter, with net interest margin expansion and credit quality improvements," said Pat Sheaffer, Riverview chairman and CEO. "We have reduced both our non-performing loan and non-performing asset balances while significantly increasing our reserve levels to 103.5% of non-performing loans. Although credit costs remained elevated, we have seen a significant slowdown in new problem loans and we believe that the worst of this credit cycle is behind us."
New Day Dental Clinic receives $350,000 in funding
The Washington Dental Service Foundation (WDS) has provided a $250,000 grant and a $100,000 loan to fund start-up operations for the recently formed New Day Community Dental Clinic.
The nonprofit opened February 2nd at 1201 SE Columbia Tech Center Drive, Suite 150, in Vancouver. By serving low-income families, including those eligible for Medicaid, the clinic is expected to ease pressures on existing providers created by the growing demand for low-cost dental care.
“We are excited to receive this grant and move forward with this important project,” said Sharif Burdzik, New Day board president. “Dental disease is painful and can lead to other serious health problems. Despite the fact that it is preventable, dental disease is a widespread health problem in Southwest Washington, especially for low-income residents.”
The idea for developing a non-profit dental clinic came from the Southwest Washington Oral Health Coalition. After determining that existing clinics in Southwest Washington were unable to meet the growing demand for dental care for low-income and uninsured patients, coalition members formed a Board of Directors to establish the New Day Community Dental Clinic. Funding from WDS was critical to making the project a reality.
“This clinic has been a wonderful collaborative effort,” said State Representative Tim Probst. “Many groups have come together to address an important health concern in our community. The funding from WDS will help open the doors and ensure more people in our community receive the dental care they desperately need.”
In addition to the Southwest Washington Oral Health Coalition, the New Day Clinic has broad community support from Clark College, Clark County Dental Society, Clark County Public Health, The Free Clinic of Southwest Washington, and many other dental professionals and community partners. At full capacity, New Day expects to provide 10,000 patient visits annually.
Audiology opens new location
Audiology Clinic Inc. opened a new location this week at 11711 NE 99th Street, Suite 930, in Vancouver.
For over 28 years, Audiology has provided hearing healthcare in Clark County.
The company said this week’s grand opening announcement signifies the practice’s dedication to the Vancouver market it serves and its efforts to introduce the many lifestyle-enhancing benefits that solutions to hearing loss can provide.
Audiology will celebrate their grand opening the entire month of February with various special events including free hearing screenings all month long.
Cotton Babies celebrates grand opening
Cotton Babies, a natural parenting and baby store, celebrated the grand opening of its new retail location inside Vancouver’s Grand Central shopping center last week.
The retailer said it serves parents with a wide range of natural, green and environmentally responsible maternity and baby items. In addition, it will provide information and classes on a variety of topics including cloth diapering, baby wearing, breastfeeding and natural birth methods.
“We carry a variety of products that allow growing families to save money while making well-educated, environmental choices,” said Jenn Labit, owner of Cotton Babies. “It is important to me that we invest carefully in the local economy. We have added new jobs to the region and broadened the parenting resources available to Vancouver area residents. Our goal is that every family would have the opportunity to care for their children in an environmental and economical manner.”
The Grand Central location is the first Cotton Babies store outside of the St. Louis, Missouri area.