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Here are 1-3 brief analogies for Riverview Bancorp (RVSB):

• Think of it as a **Bank of America** for local businesses and communities in the Pacific Northwest.

• It's like a regional **Wells Fargo** for individuals and small businesses in its Washington and Oregon communities.

• Consider it **U.S. Bank**, but with a Main Street focus for specific towns and cities in the Pacific Northwest.

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• Deposit Accounts: Offers various accounts for individuals and businesses to save and manage funds, including checking, savings, money market, and certificates of deposit.
• Commercial and Real Estate Loans: Provides financing for commercial businesses, commercial and residential real estate, multi-family properties, land, and construction projects.
• Consumer Loans: Offers a range of personal lending options, including one-to-four family mortgage loans, home equity lines of credit, and other secured and unsecured consumer loans.
• Mortgage Services: Engages in mortgage brokerage activities and provides servicing for mortgage loans.
• Asset Management Services: Delivers services such as trust administration, estate planning, and investment management.

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Nicole Sherman, President and Chief Executive Officer

Nicole Sherman was appointed President and Chief Executive Officer of Riverview Bancorp, Inc. and Riverview Bank, effective July 1, 2024. Prior to joining Riverview, Ms. Sherman served as Chief Operating Officer for Utah First Credit Union from January 2024 to June 2024. From 2020 to 2023, she was the Chief Operating Officer at Numerica Credit Union. Before that, she worked at Columbia Bank from 2011 to 2020, holding various positions, including Executive Vice President, Head of Retail Banking, Digital Integration, and Small Business Lending. Her expertise spans Retail and Digital Banking, Commercial and Business Banking, Wealth Management, Corporate Marketing and Communications, and mergers and acquisitions.

David Lam, Executive Vice President and Chief Financial Officer

David Lam serves as the Executive Vice President and Chief Financial Officer for Riverview Bancorp, Inc. and Riverview Community Bank. His previous experience includes roles as Staff Accountant at Hansen Hunter & Co, Audit Manager at Symonds, Evans & Company, P.C., and Senior Vice President/Controller at Riverview Bancorp Inc. Mr. Lam is a member of the Oregon Society of Certified Public Accountants and the AICPA.

Daniel Cox, Executive Vice President and Chief Operating Officer

Daniel Cox is the Executive Vice President and Chief Operating Officer. He previously served as acting president and CEO. Mr. Cox has been with Riverview for 21 years, specializing in finance and credit administration. He is responsible for leading the bank's commercial credit and collection policies, procedures, and processes, and also works closely with investor relations. He holds a bachelor's degree in finance from Washington State University and is an honor roll alumnus of the Pacific Coast Banking School.

Graham Clancy, Senior Vice President and Director of Finance

Graham Clancy joined Riverview Bancorp in August 2025 as Senior Vice President and Director of Finance. He brings over 14 years of experience in finance, accounting, budgeting, forecasting, and asset and liability management within the banking industry. Prior to Riverview, he served as Vice President, Senior Finance Officer at Heritage Bank and spent over a decade at Umpqua Bank.

Phung Le, Senior Vice President and Controller

Phung Le was promoted to Senior Vice President and Controller in August 2025. She has more than 10 years of experience in accounting with financial institutions. Ms. Le joined Riverview in 2019 and previously held the title of Vice President and Assistant Controller, where she was responsible for daily accounting operations and ensuring compliance with regulations and internal policies.

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The key risks to Riverview Bancorp (RVSB) are:

1. Interest Rate Volatility and Net Interest Margin (NIM) Compression: Riverview Bancorp, as a banking institution, is highly susceptible to fluctuations in interest rates. Continued interest rate volatility can squeeze net interest margins, directly impacting the bank's profitability. While an asset-sensitive balance sheet might benefit from rising rates, a decrease in rates or prolonged volatility could compress the company's net interest margin and undermine future performance.
2. Increased Regulatory and Technology Compliance Burden: Riverview Bancorp faces significant challenges from increasing regulatory scrutiny and the rising costs associated with compliance. This includes heightened focus on Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance, as well as potential new capital requirements (like Basel III Endgame) which could affect its capacity for loan growth. Additionally, the bank faces a substantial, non-revenue-generating cost for necessary infrastructure upgrades and cybersecurity spending, which can significantly impact profitability and require considerable capital allocation.
3. Credit Risk from Commercial Real Estate (CRE) Exposure and Economic Downturns: A substantial portion of Riverview Bancorp's loan portfolio is secured by real estate, including commercial properties. A slowdown in the commercial real estate market, particularly in its primary operating region of the Pacific Northwest, could lead to increased loan loss reserves and higher credit risk. A broader economic slowdown or prolonged recession could also result in increased nonperforming assets and net charge-offs, negatively affecting the bank's net interest income and overall financial stability.

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The clear emerging threat to Riverview Bancorp is the ongoing disruption from financial technology (fintech) companies and digital-only banks (neobanks). These entities leverage technology to offer a range of banking, lending, and asset management services, often with lower overhead, greater convenience, and more competitive pricing than traditional branch-based banks. This threatens Riverview Bancorp's ability to attract and retain deposit customers, originate various types of loans (commercial, real estate, consumer), and provide asset management services (trust, estate planning, investment management) as customers increasingly opt for digital-first solutions over physical branch interactions.

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Riverview Bancorp (RVSB) operates in Washington and Oregon, offering a range of commercial banking services, deposit products, various loans, mortgage brokerage, and asset management services. The addressable market sizes for their main products and services in their operating regions are as follows:

• Commercial Banking Services:
  • Washington State: The Commercial Banking industry market size is $17.7 billion in 2026.
  • Oregon State: The Commercial Banking industry market size is $9.3 billion in 2026.
• Deposit Products:
  • Washington State: Total banking assets for state-chartered banks were $98.33 billion as of December 31, 2023.
  • Oregon State: Null
• Loan Products:
  • Commercial Business Loans to Small and Medium Businesses:
    • Washington State: There are over 647,000 small businesses.
    • Oregon State: There are nearly 400,000 small businesses.
  • Commercial Real Estate Loans:
    • Washington State: Null (however, the Washington real estate market offers investment property loans, conventional loans, and private money loans)
    • Oregon State: The Real Estate Loans & Collateralized Debt industry in Oregon has shown an average annual growth rate of 9.3% from 2020 to 2025.
  • Residential Real Estate Loans (including one-to-four family mortgage loans, multi-family real estate, land, and real estate construction loans):
    • Washington State: The median home sales price was $647,600 in July 2025.
    • Oregon State: The total mortgage originations for Oregon were $17.85 billion in Q1 2025. The median home sale price was $481,000 as of February 2023.
  • Home Equity Lines of Credit (HELOCs):
    • Washington State: HELOCs typically allow borrowing up to 75% to 85% of home equity. Loan amounts from $10,000 to $500,000 are available, up to 80% loan-to-value.
    • Oregon State: HELOCs typically allow borrowing up to 75% to 85% of home equity. Some institutions offer HELOCs up to $400,000, accessing up to 90% of available equity. Borrowers may access up to 95% loan-to-value.
  • Other Secured and Unsecured Consumer Loans:
    • Washington State: Null
    • Oregon State: Null
• Mortgage Brokerage and Mortgage Loan Servicing Activities:
  • Washington State: Null
  • Oregon State: The mortgage origination volume for Oregon was $17.85 billion in Q1 2025.
• Asset Management Services (trust, estate planning, and investment management):
  • Washington State: Total trust assets under management for state-chartered banks were $54.14 billion as of December 31, 2023.
  • Oregon State: Null

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Riverview Bancorp (NASDAQ: RVSB) is expected to drive future revenue growth over the next two to three years through several key strategies and market dynamics:

1. Net Interest Income Growth through Strong Loan Demand and Favorable Interest Rate Environment: Riverview Bancorp has demonstrated an increase in net interest income, with a notable 11.7% rise in Q3 2026 compared to the previous year, primarily driven by strong loan demand and rising interest rates. The company's net interest margin (NIM) also improved to 2.78% in Q1 2026, a 31 basis-point increase from Q1 2025, as higher asset yields outpaced increases in interest-bearing liabilities. Riverview Bancorp's asset-sensitive balance sheet positions it to benefit from increasing interest rates, which positively impact its net interest income.

2. Expansion of Market Share within Key Geographic Regions: The company is focused on sustaining strong financial performance through market share expansion. Riverview Bancorp maintains a strategic focus on its primary market areas in Southwest Washington and Northwest Oregon, where it has noted continued loan demand and growth.

3. Operational Optimization and Digital Transformation Initiatives: Riverview Bancorp is implementing ongoing operational optimization to sustain strong financial performance. The company began a three-year strategic plan in Q1 2026 that emphasizes sustainable growth, the expansion of digital capabilities, and leveraging data for strategic business decisions. These digital platform investments and a focus on community-oriented banking are aimed at driving profitable growth.

4. Growth in Commercial and Business Banking, Including Treasury Management: The company's strategy includes an emphasis on commercial and business banking expansion, alongside treasury management services. This focus aims to attract and retain customers through a diversified range of products and services, further supporting financial growth potential.

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Share Repurchases

• On January 22, 2026, Riverview Bancorp's Board of Directors authorized a new stock repurchase program for up to $4.0 million of its outstanding common shares.
• In April 2025, the company adopted a $2.0 million stock repurchase plan.
• In March 2022, Riverview Bancorp adopted a share repurchase program authorizing up to $5 million of its outstanding shares.

Inbound Investments

• As of March 2026, Riverview Bancorp has 173 institutional owners and shareholders, holding a total of 17,578,844 shares.
• David Nierenberg's firm, a significant institutional investor, increased its stake in Riverview Bancorp by adding 275,508 shares in March 2025, bringing its total holding to 1,561,930 shares.
• In November 2024, David Nierenberg's firm further increased its position by adding 288,957 shares.

Capital Expenditures

• In the last 12 months, Riverview Bancorp's capital expenditures amounted to -$791,000.