“We started off the fiscal year with our eighth consecutive profitable quarter and continued to make meaningful progress in reducing nonperforming and classified assets while growing the loan portfolio,” said Riverview CEO Pat Sheaffer in a press release. “The steady economic recovery in Southwest Washington and Portland, Oregon has contributed to strong improvements in credit quality. We look forward to the future with confidence, as we continue to create value for our shareholders by developing strong relationships with our customers, communities and employees.”
Riverview reports eighth straight quarter of profitability
Riverview Bancorp Inc. reported this week that it earned $740,000, or $0.03 per diluted share, in the first fiscal quarter ended June 30, 2014. The first quarter results also included a $2.8 million reduction in nonperforming assets, a 12.8 percent decline.