Finance and Economic

Riverview Bancorp Inc. wants to raise as much as $23 million in a stock offering, according to a new filing with the U.S. Securities and Exchanged Commission.

The Vancouver-based bank (NASDAQ: RVSB) will issue 6,896,552 shares, bringing its outstanding number of shares to 17,820,325.

The money will be used to support growth and meet the bank’s capital needs. The bank is under an order from the federal O

The bank’s shares fell 4 percent Friday to $2 .39. They had a 52-week range between $2.13 and $4.39.

Riverview Bancorp Inc. is the savings and loan holding company of Riverview Community Bank.

The bank had $838 million in assets as of March 31. It lost $5.4 million in fiscal 2010.

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