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VANCOUVER, Wash., Oct. 03, 2016 -- Riverview Bancorp, Inc. (Nasdaq:RVSB) (“Riverview” or the “Company”) today announced its Board of Directors has declared a quarterly cash dividend of $0.02 per share. The dividend will be payable October 25, 2016, to shareholders of record October 14, 2016.
The cash dividend represents a payout of 27% for our first fiscal quarter and a dividend yield of 1.49%.
About Riverview
Riverview Bancorp, Inc. (www.riverviewbank.com) is headquartered in Vancouver, Washington – just north of Portland, Oregon on the I-5 corridor. With assets of $932 million, it is the parent company of the 93 year-old Riverview Community Bank, as well as Riverview Trust Company. The Bank offers true community banking services, focusing on providing the highest quality service and financial products to commercial and retail customers. There are 17 branches, including twelve in the Portland-Vancouver area and three lending centers. Riverview recently announced the signing of a purchase and assumption agreement with MBank in which Riverview will acquire approximately $130 million in net loans and will assume approximately $128 million in customer deposits. The transaction is expected to close in the quarter ending March 31, 2017.
This press release contains statements that the Company believes are “forward-looking statements.” These statements relate to the Company’s financial condition, results of operations, plans, objectives, future performance or business. You should not place undue reliance on these statements, as they are subject to risks and uncertainties. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements the Company may make. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to the Company.
Contacts: Pat Sheaffer, Ron Wysaske or Kevin Lycklama, Riverview Bancorp, Inc. 360-693-6650
