VANCOUVER – Riverview Bancorp Inc. on Thursday reported that net income increased 38 percent to $4.2 million, or 19 cents per diluted share, in its second fiscal quarter ended Sept. 30, compared to $3.1 million, or 14 cents per diluted share, in the second fiscal quarter a year ago.
In the preceding quarter net income, or profit, was $4.4 million, or 20 cents per diluted share.
“During the second quarter, we continued to improve our operating performance, with strong loan origination, solid net interest income and a healthy net interest margin,” Kevin Lycklama, president and CEO of the Vancouver-based company, said in a statement.
Total loans increased $23.3 million during the quarter to $849.8 million at quarter’s end. Riverview, whose stock is traded on Nasdaq, closed Friday at $8 per share, up 18 cents from Thursday’s close of $7.82.
