River bank erosion is one of the major natural calamities of Bangladesh. The purpose of this study is to assess the socio-economic impacts of riverbank erosion in Mehendiganj Upazila, Barishal district, using quantitative and qualitative approaches. 58% of the respondents reported that the intensity of erosion is extremely high. 80% of the cultivable land of Ulania union has disappeared in the river where this amount is near 50% for the other two unions. Nearly 45% of the respondents have migrated within the last 4 years. Among the migrated people, 94% reported that their social bondage had been broken. The findings of this research indicate that river erosion significantly affects social, economic, psychological, and ethical risks in the local community. The study will provide a comprehensive guideline to the role of local government, non-government organizations and communities to reduce the adverse impact of river erosion.