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Riverview BANCORP , INC . Contact : Kevin Lycklama or David Lam Riverview Bancorp , Inc. 360-693-6650 Exhibit 99.1 The IR Group | Riverview Bancorp Earns $ 6.4 Million in Second Fiscal Quarter of 2022 ; Highlighted by Robust Loan Growth and Strong Loan Pipeline Vancouver , WA - October 28 , 2021 - Riverview Bancorp , Inc. ( Nasdaq GSM : RVSB ) ( “ Riverview " or the " Company " ) today reported earnings of $ 6.4 million , or $ 0.29 per diluted share , in the second fiscal quarter ended September 30 , 2021 compared to $ 5.8 million , or $ 0.26 per diluted share , in the preceding quarter and $ 2.5 million , or $ 0.11 per diluted share , in the second fiscal quarter a year ago . In the first six months of fiscal 2022 , net income increased to $ 12.2 million , or $ 0.55 per diluted share , compared to $ 3.0 million , or $ 0.14 per diluted share , in the first six months of fiscal 2021 . " We delivered strong second fiscal quarter operating results , driven by an increase in net interest income , and higher operating income , which resulted in a return on average assets of 1.52 % and a return on average equity of 15.96 % for the quarter , " stated Kevin Lycklama , president and chief executive officer . " We had exceptional net loan growth during the quarter and our loan pipeline remains strong . Core deposits continue to reach record levels , which has supported the new loan growth . As we continue to move through these latter stages of the pandemic , we are encouraged with the increased business activity in Southwest Washington and Oregon , and the increased loan growth opportunities ahead . " Second Quarter Highlights ( at or for the period ended September 30 , 2021 ) • • • • • • Net income increased to $ 6.4 million , or $ 0.29 per diluted share , compared to $ 5.8 million , or $ 0.26 per diluted share in the preceding quarter and $ 2.5 million , or $ 0.11 per diluted share in the second quarter a year ago . Pre - tax , pre - provision for loan losses income ( non - GAAP ) was $ 7.3 million for the quarter compared to $ 5.7 million in the preceding quarter and $ 5.0 million for the quarter ended September 30 , 2020 . Net interest income increased to $ 12.4 million compared to $ 11.3 million in the preceding quarter and $ 11.1 million in the second fiscal quarter a year ago . Net interest margin ( " NIM ” ) was 3.12 % . Riverview recorded a recapture of loan losses of $ 1.1 million during the quarter . The allowance for loan losses was $ 16.5 million , or 1.80 % of total loans . The allowance for loan losses excluding SBA purchased and SBA PPP loans ( non - GAAP ) was 1.97 % of total loans . There were no loan modifications as of September 30 , 2021 . Total loans increased $ 25.1 million , or 11.2 % annualized , during the quarter . The net increase consisted of a decrease of $ 22.8 million in SBA PPP loans and an increase of $ 47.9 million in non - PPP loans . Total deposits increased $ 93.7 million , or 26.3 % annualized , during the quarter to $ 1.51 billion . Non - performing assets were 0.03 % of total assets . Total risk - based capital ratio was 17.42 % and Tier 1 leverage ratio was 9.08 % . Increased its quarterly cash dividend to $ 0.055 per share , generating a current dividend yield of 3.05 % based on the share price at close of market on October 27 , 2021 .