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Item 5. Market for Registrant’s Common Equity

2022-06-15 compared with 2021-06-21 · 19 added, 83 removed, 18 unchanged (85% of the section changed)

Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

The Company's common stock is traded on the Nasdaq Global Market under the symbol “RVSB.” At March 31, 2021, the number of shares of Company common stock issued and outstanding were 22,351,235, there were 596

stockholders of record and an estimated 2,762 holders in nominee or “street name”.

The Company’s common stock is traded on the Nasdaq Global Market under the symbol “RVSB.” At June 15, 2022, the number of shares of Company common stock issued and outstanding were 22,157,147 and 22,128,907, and there were 573 stockholders of record (not including the number of persons or entities holding stock in nominee or street name through various brokerage firms) and an estimated 3,314 holders in nominee or “street name”.

Stock Repurchase

The Company may repurchase shares of its common stock from time-to-time in open market transactions.

The timing, volume and price of purchases are made at our discretion and are also contingent upon our overall

financial condition, as well as general market conditions.

On February 27, 2020, the Company announced that its Board of Directors adopted a stock repurchase program.

Under this repurchase program, the Company was authorized to repurchase up to 500,000 shares of the Company’s

outstanding shares of common stock.

The Company repurchased 204,100 shares under the stock repurchase program at an average price of $4.94 per share during the year ended March 31, 2020.

As of March 31, 2021, the Company had repurchased the remaining

295,900 shares under the stock repurchase program at an average price of $4.85 per share.

The following table sets forth the Company’s repurchases of its outstanding common stock during the first quarter of the fiscal year ended March 31, 2021:

Total Number of

Shares Purchased

The timing, volume and price of purchases are made at our discretion and are also contingent upon our overall financial condition, as well as general market conditions.

During fiscal year 2022, the Company announced that its Board of Directors authorized two stock repurchase programs (the “June 2021 repurchase program” and “March 2022 repurchase program”).

Under both the June 2021 repurchase program and March 2022 repurchase program, the Company was authorized to repurchase up to $5.0 million of the Company’s outstanding shares of common stock, in the open market or in privately negotiated transactions.

The June 2021 repurchase program was effective from June 21, 2021 continuing until the earlier of the completion of the repurchase or December 21, 2021.

As of the December 21, 2021, the termination date for the June 2021 repurchase program, the Company had repurchased $1.7 million worth of the Company’s outstanding shares at an average price of $6.89 per share.

The March 2022 repurchase program is effective from March 21, 2022 continuing until the earlier of the completion of the repurchase or September 9, 2022.

As of March 31, 2022, the Company repurchased $216,000 worth of the Company’s outstanding shares at an average price of $7.63 per share under this stock repurchase program.

The following table sets forth the Company’s repurchases of its outstanding common stock under the March 2022 repurchase program during the three months ended March 31, 2022:

Maximum Dollar Value

Value Purchased

of Shares that

as Part of Publicly

Announced Stock

Repurchase Program

Maximum Number (or

Approximate Dollar

Value) of Shares that

May Yet Be Purchased

Announced Stock

Under the Stock

Repurchase Program

April 1, 2020

April 1, 2020 – March 31, 2021

Repurchase Program

January 1, 2022 - January 31, 2022

February 1, 2022 - February 28, 2022

March 1, 2022 - March 31, 2022

Securities for Equity Compensation Plans

2 unchanged sentences

The following graph compares the cumulative total shareholder return on our common stock with the cumulative total return on the Standard & Poor’s 500 Stock Index and The NASDAQ Bank Index.

The graph assumes that

total return includes the reinvestment of all dividends and that the value of the investment in Riverview’s common stock and each index was $100 on March 31, 2016, and is the base amount used in the graph.

The closing price of Riverview’s common

stock on March 31, 2021 was $6.93.

The graph assumes that total return includes the reinvestment of all dividends and that the value of the investment in Riverview’s common stock and each index was $100 on March 31, 2017, and is the base amount used in the graph.

The closing price of Riverview’s common stock on March 31, 2022 was $7.55.

Riverview Bancorp, Inc.

5 unchanged sentences

www.researchdatagroup.com/S&P.htm

Selected Financial Data

The following condensed consolidated statements of operations and financial condition and selected performance ratios as of March 31, 2021, 2020, 2019, 2018 and 2017 and for the years then ended have been derived from

the Company’s audited Consolidated Financial Statements.

The information below is qualified in its entirety by the detailed information included elsewhere herein and should be read along with Item 7.

“Management’s Discussion and Analysis of Financial

Condition and Results of Operations” and Item 8.

“Financial Statements and Supplementary Data” included in this Form 10-K.

(In thousands)

FINANCIAL CONDITION DATA:

Loans receivable, net

Loans held for sale

Investment securities available for sale

Investment securities held to maturity

Cash and cash equivalents

Shareholders’ equity

Years Ended March 31,

(Dollars in thousands, except per share data)

OPERATING DATA:

Interest and dividend income

Interest expense

Net interest income

Provision for loan losses

Net interest income after provision for loan losses

Gains from sales of loans, securities and real estate owned

Other non-interest income

Non-interest expense

Income before income taxes

Provision for income taxes

Earnings per share:

Dividends per share

At or For the Years Ended March 31,

KEY FINANCIAL RATIOS:

Performance Ratios:

Return on average assets

Return on average equity

Dividend payout ratio (1)

Interest rate spread

Net interest margin

Non-interest expense to average assets

Efficiency ratio (2)

Average equity to average assets

Asset Quality Ratios:

Allowance for loan losses to

total loans at end of period

Allowance for loan losses to

nonperforming loans

Net charge-offs (recoveries) to average outstanding

loans during the period

Ratio of nonperforming assets

to total assets

Ratio of nonperforming loans

to total loans

Capital Ratios:

Total capital to risk-weighted assets

Tier 1 capital to risk-weighted assets

Common equity tier 1 capital to risk-weighted assets

Leverage ratio

Dividends per share divided by diluted earnings per share.

Non-interest expense divided by the sum of net interest income and non-interest income.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity