TSX lower after index logs fresh record closing high
Riverview Bancorp, Inc. (NASDAQ:RVSB), a $103 million market cap regional bank currently trading at $4.91 per share, held its annual meeting on August 28, 2025, where shareholders voted on the election of directors and an advisory proposal regarding executive compensation, according to a statement released in a recent SEC filing. InvestingPro analysis suggests the stock is currently undervalued, making it potentially interesting for value investors.
At the meeting, 15,076,904 shares were represented in person or by proxy out of 20,976,198 shares of common stock outstanding and entitled to vote, establishing a quorum. The bank maintains a modest dividend yield of 1.66% and has consistently paid dividends for 11 consecutive years.
Three directors were elected to serve three-year terms expiring at the 2028 annual meeting. The results for each nominee were as follows:
- Patricia W. Eby received 14,226,073 votes in favor (94.36% of shares present), with 850,831 votes withheld.
- Gerald L. Nies received 14,343,643 votes in favor (95.14% of shares present), with 733,261 votes withheld.
- Valerie Moreno received 13,996,541 votes in favor (92.83% of shares present), with 1,080,363 votes withheld.
The company stated that the terms of directors Bradley J. Carlson, Bess R. Wills, Larry A. Hoff, Stacey A. Graham and B. Nicole Sherman will continue.
Shareholders also voted on an advisory (non-binding) proposal to approve executive compensation. The proposal received 9,117,649 votes in favor (60.47% of shares present), 5,295,647 votes against (35.12%), and 663,608 abstentions (4.40%). Based on these results, the compensation of the company’s named executive officers was approved.
Riverview Bancorp also provided updated materials at the meeting, which were included as an exhibit in the filing.
All information is based on a press release statement included in the company’s Form 8-K filed with the Securities and Exchange Commission.
In other recent news, Riverview Bancorp, Inc. announced significant leadership changes within its finance team. Graham Clancy has joined as Senior Vice President and Director of Finance, and Phung Le has been promoted to Senior Vice President and Controller, succeeding Wendy Beck upon her retirement. Both will report directly to Chief Financial Officer David Lam. Additionally, Riverview Bancorp will participate in the Raymond James 2025 U.S. Bank and Banking on Tech Conferences. The company’s President and CEO Nicole Sherman, CFO David Lam, and COO Dan Cox are set to provide updates on a one-on-one basis during the event. Investor materials related to these meetings have been filed with the SEC as an exhibit. These developments reflect Riverview Bancorp’s ongoing efforts to enhance its financial operations and investor engagement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.