Quarterly ResultApr 30, 2026, 02:26 PM
RVSB Q4 Net Loss $8.0M; Strategic Balance Sheet Optimization
AI Summary
RIVERVIEW BANCORP INC reported a GAAP net loss of $8.0 million, or $0.39 per diluted share, for fiscal Q4 2026, primarily due to a strategic balance sheet optimization. Excluding this optimization, non-GAAP net income was $656,000, or $0.03 per diluted share. The company sold $149.3 million in lower-yielding investment securities, incurring an $11.4 million pre-tax loss, but expects this move to enhance future net interest margin and earnings per share. Net interest income and margin improved year-over-year, while credit quality metrics saw an increase in non-performing loans and charge-offs due to a specific borrower.
Key Highlights
- RVSB reported a net loss of $8.0 million, or $0.39 per diluted share, for fiscal Q4 2026 (GAAP).
- Net income excluding strategic balance sheet optimization (non-GAAP) was $656,000, or $0.03 per diluted share.
- Strategic balance sheet optimization included selling $149.3 million in lower-yielding securities for an $11.4 million pre-tax loss.
- The optimization is expected to add approximately 25 basis points to net interest margin and $0.13 to EPS annually.
- Net interest income increased to $10.2 million in Q4 2026 from $9.2 million in Q4 2025.
- Net interest margin was 2.92% in Q4 2026, up from 2.65% in Q4 2025.
- Non-performing assets were 0.53% of total assets and 0.71% of total loans in Fiscal Q4 2026.
- Total loans increased $7.4 million during the quarter to $1.08 billion at March 31, 2026.
- Total deposits increased $20.7 million during the quarter to $1.25 billion at March 31, 2026.
- Tangible book value per share was $5.76 at March 31, 2026, down from $6.62 at December 31, 2025.