Revenue generation has collapsed, with the 2026Q4 efficiency ratio spiking to 158.5% as non-interest income turned negative at $8.0 million.
| Metric | Mar'26 | Mar'25 | Mar'24 | Mar'23 | Mar'22 | Mar'21 | Mar'20 | Mar'19 | Mar'18 | Mar'17 | Mar'16 | Mar'15 | Mar'14 | Mar'13 | Mar'12 | Mar'11 | Mar'10 | Mar'09 | Mar'08 | Mar'07 | Mar'06 | Mar'05 | Mar'04 | Mar'03 | Mar'02 | Mar'01 | Mar'00 | Mar'99 | Mar'98 |
|---|
| Net Interest Income | 40.35M | 36.34M | 38.09M | 51.61M | 47.63M | 44.92M | 45.73M | 47.05M | 42.97M | 33.76M | 29.21M | 26.71M | 24.24M | 29.45M | 33.67M | 35.16M | 34.81M | 33.45M | 33.97M | 36.52M | 32.35M | 22.57M | 20.96M | 18.04M | 15.52M | 15.05M | 14.37M | 13.2M | 10.9M |
| NII Growth % | 11.02% | -4.57% | -26.2% | 8.36% | 6.03% | -1.78% | -2.81% | 9.52% | 27.27% | 15.59% | 9.34% | 10.21% | -17.7% | -12.53% | -4.25% | 1.02% | 4.04% | -1.52% | -6.98% | 12.88% | 43.32% | 7.71% | 16.14% | 16.25% | 3.1% | 4.8% | 8.83% | 21.1% | - |
| Net Interest Margin % | 2.76% | 2.4% | 2.5% | 3.25% | 2.74% | 2.9% | 3.87% | 4.07% | 3.73% | 2.98% | 3.17% | 3.11% | 2.94% | 3.79% | 3.93% | 4.09% | 4.15% | 3.66% | 3.83% | 4.45% | 4.24% | 3.94% | 4.03% | 4.3% | 3.96% | 3.48% | 4.17% | 4.36% | 3.99% |
| Interest Income | 62.01M | 58.96M | 56.55M | 55.67M | 49.83M | 48.34M | 50.49M | 49.87M | 45.31M | 35.63M | 30.95M | 28.63M | 26.8M | 32.93M | 39.53M | 43.21M | 46.18M | 52.64M | 59.7M | 61.3M | 47.23M | 29.97M | 27.58M | 26.46M | 29.84M | 31.34M | 25.44M | 23.1M | 20.3M |
| Interest Expense | 21.66M | 22.62M | 18.47M | 4.06M | 2.2M | 3.43M | 4.76M | 2.81M | 2.35M | 1.87M | 1.74M | 1.92M | 2.57M | 3.48M | 5.87M | 8.05M | 11.38M | 19.18M | 25.73M | 24.78M | 14.88M | 7.39M | 6.63M | 8.42M | 14.32M | 16.29M | 11.07M | 9.9M | 9.4M |
| Loan Loss Provision | 1.25M | 100K | 0 | 750K | -4.63M | 6.3M | 1.25M | 50K | 0 | 0 | -1.15M | -1.8M | -3.7M | 900K | 29.35M | 5.08M | 15.9M | 16.15M | 2.9M | 1.43M | 1.5M | 410K | 210K | 727K | 1.12M | 949K | 675K | 200K | 200K |
| Non-Interest Income | 2.74M | 14.26M | 10.24M | 12.19M | 12.74M | 11.09M | 12.36M | 11.11M | 10.65M | 10.01M | 9.38M | 8.88M | 8.37M | 8.87M | 6.83M | 7.89M | 8.35M | 9.16M | 9.86M | 9.03M | 8.84M | 6.51M | 6.59M | 3.94M | 6.55M | 3.96M | 2.9M | 2.9M | 2.5M |
| Non-Interest Income % | 4.23% | 19.47% | 15.33% | 17.97% | 20.37% | 18.66% | 19.66% | 18.22% | 19.03% | 21.94% | 23.25% | 23.67% | 23.79% | 21.22% | 14.73% | 15.44% | 15.31% | 14.82% | 14.18% | 12.84% | 15.76% | 17.84% | 19.28% | 12.95% | 18% | 11.22% | 10.22% | 11.15% | 10.96% |
| Total Revenue | 64.74M | 73.22M | 66.8M | 67.86M | 62.57M | 59.43M | 62.85M | 60.98M | 55.96M | 45.64M | 40.32M | 37.5M | 35.17M | 41.8M | 46.36M | 51.1M | 54.53M | 61.79M | 69.56M | 70.33M | 56.07M | 36.47M | 34.17M | 30.4M | 36.39M | 35.3M | 28.34M | 26M | 22.8M |
| Revenue Growth % | -11.57% | 9.61% | -1.57% | 8.46% | 5.27% | -5.44% | 3.08% | 8.96% | 22.62% | 13.19% | 7.53% | 6.62% | -15.87% | -9.82% | -9.28% | -6.29% | -11.75% | -11.17% | -1.09% | 25.45% | 53.72% | 6.73% | 12.41% | -16.47% | 3.08% | 24.6% | 8.98% | 14.04% | - |
| Non-Interest Expense | 47.66M | 44.26M | 43.73M | 39.37M | 36.72M | 36.25M | 36.26M | 35.7M | 35.62M | 32.98M | 29.95M | 30.74M | 31.96M | 34.76M | 34.42M | 31.5M | 35.98M | 30.67M | 27.79M | 26.35M | 25.37M | 19.1M | 17.57M | 14.91M | 13.95M | 12.87M | 10.83M | 9.1M | 7.2M |
| Efficiency Ratio | 73.62% | 60.45% | 65.46% | 58.02% | 58.68% | 61% | 57.69% | 58.55% | 63.64% | 72.26% | 74.27% | 81.98% | 90.87% | 83.14% | 74.25% | 61.63% | 65.97% | 49.64% | 39.95% | 37.47% | 45.26% | 52.38% | 51.42% | 49.04% | 38.34% | 36.45% | 38.23% | 35% | 31.58% |
| Operating Income | -5.83M | 6.24M | 4.6M | 23.68M | 28.28M | 13.45M | 20.58M | 22.41M | 18M | 10.79M | 9.78M | 6.64M | 4.34M | 2.66M | -23.28M | 6.48M | -8.72M | -4.21M | 13.14M | 17.77M | 14.31M | 9.56M | 9.76M | 6.35M | 7M | 5.2M | 5.75M | 6.8M | 6M |
| Operating Margin % | -9.01% | 8.52% | 6.89% | 34.89% | 45.19% | 22.64% | 32.74% | 36.76% | 32.16% | 23.64% | 24.26% | 17.71% | 12.35% | 6.37% | -50.21% | 12.68% | -15.99% | -6.82% | 18.89% | 25.27% | 25.53% | 26.22% | 28.57% | 20.88% | 19.25% | 14.73% | 20.31% | 26.15% | 26.32% |
| Operating Income Growth % | -193.52% | 35.58% | -80.57% | -16.26% | 110.18% | -34.62% | -8.18% | 24.53% | 66.78% | 10.29% | 47.33% | 52.95% | 63.11% | 111.44% | -459.24% | 174.3% | -107.05% | -132.05% | -26.05% | 24.16% | 49.66% | -2.04% | 53.84% | -9.38% | 34.67% | -9.63% | -15.37% | 13.33% | - |
| Pretax Income | -5.83M | 6.24M | 4.6M | 23.68M | 28.28M | 13.45M | 20.58M | 22.41M | 18M | 10.79M | 9.78M | 6.64M | 4.34M | 2.66M | -23.28M | 6.48M | -8.72M | -4.21M | 13.14M | 17.77M | 14.31M | 9.56M | 9.76M | 6.35M | 7M | 5.2M | 5.75M | 6.8M | 6M |
| Pretax Margin % | -9.01% | 8.52% | 6.89% | 34.89% | 45.19% | 22.64% | 32.74% | 36.76% | 32.16% | 23.64% | 24.26% | 17.71% | 12.35% | 6.37% | -50.21% | 12.68% | -15.99% | -6.82% | 18.89% | 25.27% | 25.53% | 26.22% | 28.57% | 20.88% | 19.25% | 14.73% | 20.31% | 26.15% | 26.32% |
| Income Tax | -1.49M | 1.33M | 802K | 5.61M | 6.46M | 2.98M | 4.83M | 5.15M | 7.75M | 3.39M | 3.43M | 2.15M | -15.08M | 29K | 8.38M | 2.17M | -3.28M | -1.56M | 4.5M | 6.17M | 4.58M | 3.04M | 3.21M | 1.99M | 2.14M | 1.64M | 1.88M | 2.3M | 2.1M |
| Effective Tax Rate % | 25.59% | 21.4% | 17.43% | 23.69% | 22.83% | 22.16% | 23.47% | 22.96% | 43.09% | 31.39% | 35.02% | 32.37% | -347.33% | 1.09% | -35.99% | 33.41% | 37.58% | 37.08% | 34.23% | 34.7% | 31.97% | 31.74% | 32.88% | 31.32% | 30.5% | 31.61% | 32.63% | 33.82% | 35% |
| Net Income | -4.34M | 4.9M | 3.8M | 18.07M | 21.82M | 10.47M | 15.75M | 17.27M | 10.24M | 7.4M | 6.36M | 4.49M | 19.42M | 2.63M | -31.66M | 4.32M | -5.44M | -2.65M | 8.64M | 11.61M | 9.74M | 6.53M | 6.55M | 4.36M | 4.87M | 3.56M | 3.88M | 4.5M | 3.9M |
| Net Margin % | -6.7% | 6.7% | 5.69% | 26.63% | 34.87% | 17.62% | 25.05% | 28.32% | 18.3% | 16.22% | 15.77% | 11.98% | 55.22% | 6.3% | -68.29% | 8.44% | -9.98% | -4.29% | 12.43% | 16.5% | 17.37% | 17.9% | 19.18% | 14.34% | 13.38% | 10.08% | 13.68% | 17.31% | 17.11% |
| Net Income Growth % | -188.54% | 29.06% | -78.97% | -17.19% | 108.37% | -33.5% | -8.79% | 68.58% | 38.33% | 16.45% | 41.57% | -76.88% | 637.68% | 108.32% | -833.65% | 179.26% | -105.43% | -130.66% | -25.52% | 19.18% | 49.15% | -0.38% | 50.36% | -10.46% | 36.86% | -8.25% | -13.84% | 15.38% | - |
| Net Income (Continuing) | -4.34M | 4.9M | 3.8M | 18.07M | 21.82M | 10.47M | 15.75M | 17.27M | 10.24M | 7.4M | 6.36M | 4.49M | 19.42M | 2.63M | -31.66M | 4.32M | -5.44M | -2.65M | 8.64M | 11.61M | 9.74M | 6.53M | 6.55M | 4.36M | 4.87M | 3.56M | 3.88M | 4.5M | 3.9M |
| EPS (Diluted) | -0.21 | 0.23 | 0.18 | 0.83 | 0.98 | 0.47 | 0.69 | 0.76 | 0.45 | 0.33 | 0.28 | 0.20 | 0.87 | 0.12 | -1.42 | 0.24 | -0.51 | -0.25 | 0.79 | 1.01 | 0.86 | 0.67 | 0.70 | 0.50 | 0.53 | 0.39 | 0.37 | 0.38 | 0.33 |
| EPS Growth % | -191.3% | 27.78% | -78.31% | -15.31% | 108.51% | -31.88% | -9.21% | 68.89% | 36.36% | 17.86% | 40% | -77.01% | 625% | 108.45% | -691.67% | 147.06% | -104% | -131.65% | -21.78% | 17.44% | 28.36% | -4.29% | 40% | -5.66% | 35.9% | 5.41% | -2.63% | 15.15% | - |
| EPS (Basic) | -0.21 | 0.23 | 0.18 | 0.84 | 0.98 | 0.47 | 0.70 | 0.76 | 0.45 | 0.33 | 0.28 | 0.20 | 0.87 | 0.12 | -1.42 | 0.24 | -0.51 | -0.25 | 0.79 | 1.03 | 0.87 | 0.68 | 0.71 | 0.50 | 0.53 | 0.39 | 0.38 | 0.39 | 0.33 |
| Diluted Shares Outstanding | 20.84M | 21.06M | 21.14M | 21.65M | 22.23M | 22.31M | 22.7M | 22.66M | 22.62M | 22.55M | 22.49M | 22.43M | 22.37M | 22.34M | 22.32M | 18.34M | 10.72M | 10.69M | 11.01M | 11.52M | 11.35M | 9.78M | 9.43M | 8.85M | 9.22M | 9.28M | 10.41M | 11.67M | 12.11M |
Regional CRE Concentration Risk
According to quarterly financial disclosures, RVSB experienced a sharp divergence in late 2026, where NII growth of 10.7% was overshadowed by a collapse in total revenue to $7.3M, suggesting that funding cost pressures are severely limiting the bank's ability to translate loan volume into bottom-line growth.
The bank's NII trajectory appears increasingly decoupled from its broader revenue performance, indicating that deposit beta management has become a significant hurdle. Investors should monitor whether the recent volatility in interest income reflects a structural inability to pass through rate increases to the local SME borrower base.
As reported in recent filings, RVSB has maintained a stagnant NIM of 0.7% throughout late 2026, a figure that remains significantly below the levels required to offset the high fixed-cost structure inherent in its 17-branch physical footprint across the Portland-Vancouver metropolitan corridor.
The persistent compression of the NIM suggests that the bank is struggling to maintain a competitive spread against larger regional peers like Columbia Banking System. This margin profile warrants further investigation into whether the current deposit mix is too heavily weighted toward rate-sensitive institutional funds.
Based on the most recent income statement data, RVSB's efficiency ratio spiked to 158.5% in 2026Q4, a dramatic departure from historical norms that indicates a fundamental mismatch between non-interest expenses and the bank's current revenue-generating capacity in a challenging regional economic environment.
This level of inefficiency suggests that the bank's operating leverage has turned negative, effectively eroding capital with every dollar of revenue generated. Analysts should consider whether this is a temporary spike related to one-time charges or a permanent impairment of the bank's operating model.
Financial statements reveal a significant $1.2M provision for loan losses in 2026Q4, which represents a notable departure from the zero-provision environment maintained through much of 2025, potentially signaling an emerging deterioration in the bank's regional commercial real estate loan portfolio quality.
The sudden shift to elevated provisioning suggests that management may be anticipating a more difficult credit cycle within the Portland-Vancouver MSA. Investors should monitor future write-off trends to determine if this provision is a proactive measure or a reaction to specific, localized asset quality issues.
Data from recent filings indicates that non-interest income swung to a negative $8.0M in 2026Q4, highlighting a high degree of dependency on market-sensitive wealth management and mortgage brokerage activities that appear to be highly pro-cyclical and prone to significant quarterly earnings volatility.
The extreme variance in fee income suggests that the bank's non-interest revenue stream is not providing the expected counter-cyclical buffer during periods of lending stress. This volatility may indicate that the trust and wealth management division is highly sensitive to market valuations or specific client retention challenges.
Quick answers to the most common questions about buying RVSB stock.
Riverview Bancorp, Inc. (RVSB) reported a net loss of $4.3M for the fiscal year ending 2026.
Riverview Bancorp, Inc. (RVSB) reported an operating income of $-5.8M, resulting in an operating profit margin of -9.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Riverview Bancorp, Inc. (RVSB) generated $41.8M in gross profit for the year, representing a gross profit margin of 64.6%. This demonstrates the company's core pricing power and production efficiency.