Riverview Community Bank completes purchase of MBank

Riverview Bancorp, Inc. and its wholly owned subsidiary, Riverview Community Bank have completed the purchase of Merchants Bancorp and its wholly owned subsidiary, MBank.

In connection with the transaction, Riverview acquired approximately $116 million in net loans and assumed certain liabilities, including approximately $132 million of MBank’s customer deposits. Riverview Bancorp also assumed the obligations of Merchants Bancorp’s trust preferred securities.