VANCOUVER, Wash., Jan. 30, 2013 (GLOBE NEWSWIRE) -- Riverview Bancorp, Inc. (Nasdaq:RVSB) ("Riverview" or the "Company") today reported it earned $1.0 million, or $0.05 per diluted share, in its third fiscal quarter ended December 31, 2012 compared to a net loss of $16.6 million, or $0.74 per diluted share, in third quarter a year ago. In the first nine months of fiscal 2013, Riverview earned $1.0 million, or $0.05 per diluted share, compared to a net loss of $15.7 million, or $0.70 per diluted share, in the same period a year ago.
- Net income was $1.0 million, or $0.05 per diluted share
- Net interest margin was 4.03% for the quarter and 4.19% for the nine month period
- Nonperforming loans decreased $3.4 million during the quarter to $24.7 million (12.0% decline)
- Nonperforming assets decreased $7.1 million during the quarter to $45.4 million (13.6% decline)
- Net charge-offs for the quarter decreased 61.9% to $507,000 compared to $1.3 million for the preceding quarter
- Core deposits were very strong and make up 95% of total deposits
- Capital levels continue to exceed the regulatory requirements to be categorized as "well capitalized" with a total risk-based capital ratio of 14.25% and a Tier 1 leverage ratio of 9.50%