VANCOUVER, Wash., Aug. 3, 2010 (GLOBE NEWSWIRE) -- Riverview Bancorp, Inc. (Nasdaq:RVSB) ("Riverview" or the "Company"), the holding company for Riverview Community Bank ("Bank"), announced today that it has raised approximately $18 million through its previously announced public offering by issuing 10,041,841 shares of the Company's common stock at a public offering price of $1.80 per share. The net proceeds to the Company after deducting underwriting discounts and commissions and estimated offering expenses are expected to be $16.3 million. The Company expects to use the net proceeds from the offering to support the growth and related capital needs of Riverview Community Bank, with any remainder for general working capital purposes, which may include quarterly payments of interest on the Company's junior subordinated debentures.
Riverview Bancorp, Inc. Announces Closing Of $18 Million Public Offering Of Common Stock
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.