Riverview Bancorp Inc. has reported that it earned $1.5 million, or $0.07 per diluted share, in the fourth fiscal quarter ended March 31, 2015 compared to $1.1 million, or $0.05 per diluted share, in the preceding quarter.
For all of fiscal year 2015, net income was $4.5 million, or $0.20 per diluted share, compared to $19.4 million, or $0.87 per diluted share, in fiscal year 2014.
“We closed our fiscal year with a solid fourth quarter, building on the momentum we have established over the past year,” said Pat Sheaffer, the bank’s chairman and chief executive officer. “We are continuing to generate solid year-over-year growth in our loan and deposit portfolios, while growing our revenues, improving asset quality and enhancing operating efficiencies. With these accomplishments in place, we were pleased to be able to reinstate payment of a cash dividend to our shareholders this quarter.”
Additionally, Riverview Asset Management and Trust Company (RAMCO) reported strong growth in the fourth quarter with assets under management increasing to $409.3 million.