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RIVERVIEW BANCORP, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
INTEREST INCOME:        
Interest and fees on loans receivable $ 8,468 $ 9,815 $ 17,513 $ 20,095
Interest on investment securities-taxable 38 36 91 81
Interest on investment securities-non taxable 7 12 15 24
Interest on mortgage-backed securities 7 13 15 29
Other interest and dividends 128 89 257 164
Total interest and dividend income 8,648 9,965 17,891 20,393
INTEREST EXPENSE:        
Interest on deposits 699 1,158 1,522 2,388
Interest on borrowings 162 372 511 740
Total interest expense 861 1,530 2,033 3,128
Net interest income 7,787 8,435 15,858 17,265
Less provision for loan losses 500 2,200 4,500 3,750
Net interest income after provision for loan losses 7,287 6,235 11,358 13,515
NON-INTEREST INCOME:        
Fees and service charges 1,331 1,078 2,388 2,120
Asset management fees 504 570 1,108 1,195
Net gain on sale of loans held for sale 152 21 879 44
Bank owned life insurance income 148 153 297 304
Other non-interest income 179 10 82 73
Total non-interest income 2,314 1,832 4,754 3,736
NON-INTEREST EXPENSE:        
Salaries and employee benefits 3,609 3,514 7,402 8,025
Occupancy and depreciation 1,236 1,166 2,470 2,329
Data processing 292 542 606 830
Amortization of core deposit intangible 18 20 37 42
Advertising and marketing expense 269 283 488 528
FDIC insurance premium 394 286 681 559
State and local taxes 137 81 285 260
Telecommunications 116 108 237 215
Professional fees 281 298 702 637
Real estate owned expenses 891 756 1,830 1,186
Other non-interest expense 569 791 1,350 1,391
Total non-interest expense 7,812 7,845 16,088 16,002
Income (loss) before income taxes 1,789 222 24 1,249
Provision (Benefit) for income taxes 2 41 17 354
Net income (loss) $ 1,787,000 $ 181,000 $ 7,000 $ 895,000
Earnings (loss) per common share:        
Basic earnings $ 0.08 $ 0.01 $ 0.00 $ 0.04
Diluted earnings $ 0.08 $ 0.01 $ 0.00 $ 0.04
Weighted average number of shares outstanding:        
Weighted average number of shares outstanding, Basic 22,339,487 22,314,854 22,336,425 22,311,792
Weighted average number of shares outstanding, Diluted 22,339,487 22,314,854 22,336,425 22,311,792