Business News • MarketWire • Riverview Financial Corporation Reports 2016 Earnings |
Riverview Financial Corporation Reports 2016 Earnings |
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Riverview Financial Corporation Reports 2016 Earnings
HARRISBURG, PA--(Marketwired - Jan 26, 2017) - Riverview Financial Corporation ("Riverview") (OTCQX: RIVE), the financial holding company for Riverview Bank, today reported unaudited financial results at and for the year ended December 31, 2016. Riverview reported net income of $3.1 million or $0.95 per basic and diluted weighted average share for 2016, compared to a net loss of $754 thousand, or ($0.28) per basic and diluted weighted average share, for the comparable period of 2015. The 2015 results included per-tax merger related expenses of approximately $3.3 million from the acquisition of Citizens National Bank of Meyersdale ("Citizens") on December 31, 2015. Core net income for the year ended December 31, was $2.9 million, or $0.90 per share, in 2016 and $1.4 million, or $0.52 per share, in 2015. Core net income, a non-GAAP financial measure reconciled to net income in the tabular material that follows, excludes net gains (losses) on the sale of investment securities and acquisition related expenses, net of tax. Net gains on the sale of investment securities were $484 thousand in 2016. Net losses on the sale of investment securities totaled $17 thousand in 2015.
View More : http://www.marketwired.com/mw/release.do?id=2191338&sourceType=3
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