Riverview Bancorp (RVSB) Commences 8.37M Common Offering

Riverview Bancorp, Inc. (Nasdaq: RVSB) today announced that it has commenced an underwritten public offering of 8,368,201 shares of its common stock. Based on the closing price of the Company's common stock on July 13, 2010, the offering would result in gross proceeds to the Company of approximately $20.0 million. The Company expects to use the net proceeds from the offering to support the growth and related capital needs of Riverview Community Bank, with any remainder for general working capital purposes.

Wunderlich Securities and Howe Barnes Hoefer & Arnett are serving as co-managers of the offering. The Company intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock sold to cover over-allotments, if any.