$RVRF
River Financial Corp

2020 Q3 Form 10-Q Financial Statement

#000156459020052837 Filed on November 10, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q4 2019 Q3
Revenue $15.98M $11.94M
YoY Change 33.87% 31.55%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $680.0K $680.0K $640.0K
YoY Change 6.25% 15.25% 77.78%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $2.153M
YoY Change 84.97%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $5.150M $3.930M $3.833M
YoY Change 34.36% 113.59% 18.93%
Income Tax $1.090M $1.160M $861.0K
% Of Pretax Income 21.17% 29.52% 22.46%
Net Earnings $4.067M $2.770M $2.972M
YoY Change 36.84% 84.67% 19.74%
Net Earnings / Revenue 25.45% 24.9%
Basic Earnings Per Share $0.63 $0.52
Diluted Earnings Per Share $0.62 $437.6K $0.51
COMMON SHARES
Basic Shares Outstanding 6.498M 6.481M 5.704M
Diluted Shares Outstanding 6.572M 5.798M

Balance Sheet

Concept 2020 Q3 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $33.30M $31.55M $28.65M
YoY Change 16.23% 17.62% 32.02%
Goodwill $27.82M $27.82M $18.29M
YoY Change 52.06% 52.06%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.800M $800.0K $100.0K
YoY Change 1700.0% -33.33% -97.22%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.782B $1.364B $1.140B
YoY Change 56.31% 27.42% 30.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.800M $10.10M $8.700M
YoY Change -21.84% 90.57% 112.2%
Accrued Expenses $1.800M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $10.30M $8.700M $9.700M
YoY Change 6.19% 8.75% -26.52%
Long-Term Debt Due $3.600M $3.400M $3.300M
YoY Change 9.09% 6.25% 200.0%
Total Short-Term Liabilities $22.50M $22.20M $21.70M
YoY Change 3.69% 34.55% 17.93%
LONG-TERM LIABILITIES
Long-Term Debt $17.70M $20.40M $21.20M
YoY Change -16.51% -14.29% 505.71%
Other Long-Term Liabilities $1.700M $1.800M $1.600M
YoY Change 6.25% 38.46% 33.33%
Total Long-Term Liabilities $19.40M $22.20M $22.80M
YoY Change -14.91% -11.55% 385.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.50M $22.20M $21.70M
Total Long-Term Liabilities $19.40M $22.20M $22.80M
Total Liabilities $1.620B $1.217B $1.017B
YoY Change 59.32% 26.89% 30.42%
SHAREHOLDERS EQUITY
Retained Earnings $47.69M $38.64M $35.87M
YoY Change 32.94% 31.17%
Common Stock $107.0M $106.7M $85.53M
YoY Change 25.12% 25.06%
Preferred Stock
YoY Change
Treasury Stock (at cost) $597.0K $93.00K $217.0K
YoY Change 175.12% -17.7%
Treasury Stock Shares $21.61K $3.307K $7.626K
Shareholders Equity $160.2M $145.2M $121.6M
YoY Change
Total Liabilities & Shareholders Equity $1.782B $1.364B $1.140B
YoY Change 56.31% 27.42% 30.77%

Cashflow Statement

Concept 2020 Q3 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income $4.067M $2.770M $2.972M
YoY Change 36.84% 84.67% 19.74%
Depreciation, Depletion And Amortization $680.0K $680.0K $640.0K
YoY Change 6.25% 15.25% 77.78%
Cash From Operating Activities -$3.190M $7.560M $150.0K
YoY Change -2226.67% 62.23% -97.26%
INVESTING ACTIVITIES
Capital Expenditures -$540.0K -$330.0K -$10.00K
YoY Change 5300.0% 106.25% -97.73%
Acquisitions
YoY Change
Other Investing Activities -$57.05M -$61.78M -$27.58M
YoY Change 106.85% -1013.91% -24.89%
Cash From Investing Activities -$57.59M -$62.12M -$27.58M
YoY Change 108.81% -1041.21% -25.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 75.83M 51.07M 17.87M
YoY Change 324.34% 142.5% 35.69%
NET CHANGE
Cash From Operating Activities -3.190M 7.560M 150.0K
Cash From Investing Activities -57.59M -62.12M -27.58M
Cash From Financing Activities 75.83M 51.07M 17.87M
Net Change In Cash 15.05M -3.490M -9.560M
YoY Change -257.43% -110.8% -48.38%
FREE CASH FLOW
Cash From Operating Activities -$3.190M $7.560M $150.0K
Capital Expenditures -$540.0K -$330.0K -$10.00K
Free Cash Flow -$2.650M $7.890M $160.0K
YoY Change -1756.25% 63.69% -97.3%

Facts In Submission

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PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesForFederalHomeLoanBank
121800000
CY2019Q4 us-gaap Pledged Financial Instruments Not Separately Reported Securities For Federal Home Loan Bank
PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesForFederalHomeLoanBank
71800000
CY2020Q3 us-gaap Pledged Financial Instruments Not Separately Reported Securities For Repurchase Agreements
PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesForRepurchaseAgreements
16400000
CY2019Q4 us-gaap Pledged Financial Instruments Not Separately Reported Securities For Repurchase Agreements
PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesForRepurchaseAgreements
14500000
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
7202000
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
8420000
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
35378000
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
37820000
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
20323000
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
19739000
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
63876000
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
45938000
CY2020Q3 ck0001641601 Available For Sale Debt Securities Amortized Cost Basis Before Residential Mortgage Backed Securities
AvailableForSaleDebtSecuritiesAmortizedCostBasisBeforeResidentialMortgageBackedSecurities
126779000
CY2019Q4 ck0001641601 Available For Sale Debt Securities Amortized Cost Basis Before Residential Mortgage Backed Securities
AvailableForSaleDebtSecuritiesAmortizedCostBasisBeforeResidentialMortgageBackedSecurities
111917000
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
7281000
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
8458000
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
36986000
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
47118000
CY2020Q3 ck0001641601 Available For Sale Securities Before Residential Mortgage Backed Securities
AvailableForSaleSecuritiesBeforeResidentialMortgageBackedSecurities
132593000
CY2019Q4 ck0001641601 Available For Sale Securities Before Residential Mortgage Backed Securities
AvailableForSaleSecuritiesBeforeResidentialMortgageBackedSecurities
114492000
CY2020Q3 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1199543000
CY2019Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
909856000
CY2020Q3 ck0001641601 Loans And Leases Receivable Net Discounts
LoansAndLeasesReceivableNetDiscounts
1332000
CY2019Q4 ck0001641601 Loans And Leases Receivable Net Discounts
LoansAndLeasesReceivableNetDiscounts
2647000
CY2020Q3 ck0001641601 Loans And Leases Receivable Net Deferred Loan Fees
LoansAndLeasesReceivableNetDeferredLoanFees
6843000
CY2019Q4 ck0001641601 Loans And Leases Receivable Net Deferred Loan Fees
LoansAndLeasesReceivableNetDeferredLoanFees
1425000
CY2020Q3 ck0001641601 Loans And Leases Receivable Net Discounts Percentage
LoansAndLeasesReceivableNetDiscountsPercentage
0.001
CY2019Q4 ck0001641601 Loans And Leases Receivable Net Discounts Percentage
LoansAndLeasesReceivableNetDiscountsPercentage
0.003
CY2020Q3 ck0001641601 Loans And Leases Receivable Net Deferred Loan Fees Percentage
LoansAndLeasesReceivableNetDeferredLoanFeesPercentage
-0.007
CY2019Q4 ck0001641601 Loans And Leases Receivable Net Deferred Loan Fees Percentage
LoansAndLeasesReceivableNetDeferredLoanFeesPercentage
-0.002
CY2019Q4 ck0001641601 Percentage Of Loans And Leases Receivable Net Reported Amount
PercentageOfLoansAndLeasesReceivableNetReportedAmount
1.000
ck0001641601 Number Of Primary Loan Portfolio Segments
NumberOfPrimaryLoanPortfolioSegments
3
us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
437000
us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
293000
CY2020Q3 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
5660000
CY2020Q3 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1192598000
CY2020Q3 us-gaap Notes Receivable Net
NotesReceivableNet
1285000
CY2018Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
6577000
us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
919000
CY2020Q3 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
5724000
CY2020Q3 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
5660000
CY2020Q3 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
4950000
CY2020Q3 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
710000
CY2020Q3 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
467000
CY2019Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
3833000
CY2019Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
3769000
CY2019Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
3062000
CY2019Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
707000
CY2019Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
329000
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
4347000
us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
161000
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
4632000
CY2019Q3 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
4043000
CY2020Q3 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
1191935000
CY2020Q3 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
3356000
CY2019Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
904601000
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1706000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1912000
CY2020Q3 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
us-gaap:OtherAssets
CY2019Q4 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
us-gaap:OtherAssets
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
1788000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1987000
CY2020Q3 us-gaap Operating Lease Liability Statement Of Financial Position Extensible List
OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList
us-gaap:AccountsPayableAndOtherAccruedLiabilities
CY2019Q4 us-gaap Operating Lease Liability Statement Of Financial Position Extensible List
OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList
us-gaap:AccountsPayableAndOtherAccruedLiabilities
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y7M9D
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y1M2D
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0600
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0600
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
363000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
355000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
355000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
298000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
184000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive
621000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2176000
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
388000

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