Change of Leadership at Riverview Bank
09 Agosto 2023 - 1:59PM
Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) is announcing that on
August 4, 2023, the Board of Directors of Riverview Bank and
Riverview Bancorp, Inc., voted to terminate, without cause, the
employment of Kevin J. Lycklama. The termination of employment is
effective September 6, 2023.
Riverview’s Leadership Remains Strong and
ExperiencedDaniel Cox has been named
Acting President/CEO. For the past 21 years, Daniel Cox
has worked for Riverview Bank. His expertise is in finance and
credit administration. He currently is Executive Vice President and
Chief Credit Officer. He leads the Bank’s commercial credit and
collection policies, procedures and processes. And, he works
closely with investor relations. Cox graduated Summa Cum Laude from
Washington State University – Vancouver with a Bachelor of Arts in
Business Administration with a major emphasis in Finance. He is an
Honor Roll alum of the Pacific Coast Banking School.
Along with Daniel Cox, David Lam,
Executive Vice President and Chief Financial Officer remains a
critical member of the Senior Leadership team. He joined Riverview
in 2008 as Controller and was promoted to his current position in
2017. Lam leads accounting, SEC reporting and treasury functions
for the Bank and the Company. Prior to joining Riverview, he spent
ten years working in the public accounting sector advancing to the
level of audit manager. Lam holds a Bachelor of Arts degree in
business administration with an emphasis in accounting from Oregon
State University. Lam is a CPA, holds a chartered global management
accountant designation and is a member of both the American
Institute of CPAs and Oregon Society of CPAs.
Pat Sheaffer, former CEO and
Board Chair, joined the Bank in 1963 and was promoted to Chief
Executive Officer in 1976; a position he held until 2018. Mr.
Sheaffer has served on the Board of Directors since 1979 and as
Chairman from 1993 until 2020. During his tenure, Riverview Bank
grew from just two branches to 17 branches and three lending
centers in Washington and Oregon. Sheaffer serves on the Riverview
Trust Company Board.
Riverview remains a strong, regional banking
option for clients looking for local leadership and commitment to
community. Along with the release, we are providing a financial
fact sheet. Here are some fast facts:
- $1.58 billion in assets
- 44 straight quarters of profitability
- Capital ratios remain strong, at 16.8%.
- Total loans are $1 billion with strong asset quality with low
nonperforming assets of .01% of total assets
- Strong deposit base; core deposits are 98% of total
deposits
- 34 consecutive quarters of dividend payments. Dividend ratio is
4.24%
About the Company
Riverview Bancorp, Inc. (www.riverviewbank.com) is
headquartered in Vancouver, Washington – just north of Portland,
Oregon, on the I-5 corridor. With assets of $1.58 billion on June
30, 2023, it is the parent company of the 100-year-old Riverview
Bank, as well as Riverview Trust Company. The Bank offers true
community banking services, focusing on providing the
highest-quality service and financial products to commercial and
retail clients through 17 branches, including 13 in the
Portland-Vancouver area, and 3 lending centers. For the past 10
years, Riverview has been named Best Bank by the readers of The
Vancouver Business Journal and The Columbian.
This media advisory contains statements that the
Company believes are “forward-looking statements.” These statements
relate to the Company’s financial condition, results of operations,
plans, objectives, future performance or business. You should not
place undue reliance on these statements, as they are subject to
risks and uncertainties. When considering these forward-looking
statements, you should keep in mind these risks and uncertainties,
as well as any cautionary statements the Company may make.
Moreover, you should treat these statements as speaking only as of
the date they are made and based only on information then actually
known to the Company.
Contact: |
|
Denise Barr, Vice President/Marketing StrategistRiverview Bank,
360-903-8250 |
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