Riverview Bancorp Declares $0.10 Cash Dividend


VANCOUVER, Wash., March 21, 2007 (PRIME NEWSWIRE) -- Riverview Bancorp (Nasdaq:RVSB) today announced that its Board of Directors declared a quarterly cash dividend of $0.10 per share. Including the 2-for-1 stock split issued in August 2006, the cash payout to shareholders is up 18% from a year ago. The dividend will be paid on April 13, 2007, to shareholders of record March 31, 2007.

"During the last quarter, we generated record top- and bottom-line growth. Paying a cash dividend is a tangible way for us to share our success with shareholders," said Pat Sheaffer, Chairman and CEO. "This is our 38th consecutive quarterly cash dividend and represents a 2.56% yield based on the recent price."

On January 23, 2007, Riverview reported fiscal third quarter net income increased 18% compared to a year earlier, to $3.2 million, or $0.28 per diluted share, on revenues of $11.7 million for the quarter, up 10% from a year earlier. Assets grew 13% to $836 million, deposits increased 10% to $651 million and loans grew 16% to $697 million during the twelve months ending December 31, 2006.

Riverview Bancorp, Inc. (www.riverviewbank.com) is headquartered in Vancouver, Washington -- just north of Portland, Oregon on the I-5 corridor. With assets of $836 million, it is the parent company of the 83 year-old Riverview Community Bank, as well as Riverview Mortgage and Riverview Asset Management Corp. There are 18 branches, including ten in fast growing Clark County, four in the Portland metropolitan area and three lending centers. The Bank offers true community banking services, focusing on providing the highest quality service and financial products to commercial and retail customers.



            

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