Riverview Bancorp Announces Director Retirement and Appointment of New Director
April 28 2017 - 4:30PM
Riverview Bancorp, Inc. (NASDAQ:RVSB) (the “Company”), and its
wholly owned subsidiary, Riverview Community Bank (the “Bank”),
today announced the retirement of Michael D. Allen as a director of
the Company and the Bank.
Patrick Sheaffer, the Chairman of the Board,
stated, “Mike’s dedicated service as a Board member and commitment
to the Company and the Bank during his years of service has been
outstanding and we want to express our sincere appreciation to him
for the leadership and direction he provided the Company and the
Bank. The management, Board, employees, and shareholders are
grateful to him for his many contributions.”
The Boards of Directors of the Company and the
Bank have appointed John A. Karas to both boards to fill the
vacancies created by Mr. Allen’s retirement. Mr. Karas is Chairman
of the Board and an outside Director of Riverview Trust Company, a
wholly owned subsidiary of Riverview Community Bank. Mr.
Karas received his B.A. from Willamette University and his Juris
Doctor degree from Lewis & Clark Law School’s Northwestern
School of Law. He is a member of the Oregon, Multnomah County and
American Bar Associations and is a Certified Trust and Financial
Advisor. Mr. Karas is also active in numerous civic
organizations.
About Riverview Bancorp,
Inc.:
Riverview Bancorp, Inc. (www.riverviewbank.com)
is headquartered in Vancouver, Washington – just north of Portland,
Oregon on the I-5 corridor. With assets of $1.1 billion at March
31, 2017, it is the parent company of the 93 year-old Riverview
Community 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
customers. There are 19 branches, including 14 in the
Portland-Vancouver area and three lending centers. For the past
four years, Riverview has been named Best Bank by the readers
of The Vancouver Business Journal, The Columbian and The Gresham
Outlook.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. The forward-looking statements in the
preceding paragraphs are based on our current expectations and
assumptions regarding our business, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict. Our actual
results may differ materially from those contemplated by the
forward-looking statements. We caution you therefore against
relying on any of these forward-looking statements. They are
neither statements of historical fact nor guarantees or assurances
of future performance. Important factors that could cause actual
results to differ materially from those in the forward-looking
statements include the ability for Riverview to maintain deposit
balances assumed from MBank and earn a positive net interest spread
on those deposits, incremental overhead costs to Riverview, and
other factors set forth as “Risk Factors” at Part II, Item 1A in
the Company’s Form 10-K for the year ended March 31, 2016.
Any forward-looking statement made by us in this
press release speaks only as of the date on which it is made.
Factors or events that could cause our actual results to differ may
emerge from time to time, and it is not possible for us to predict
all of them. We undertake no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by
law.
Contacts: Pat Sheaffer, Ron Wysaske or Kevin Lycklama
Riverview Bancorp, Inc. 360-693-6650
Riverview Bancorp (NASDAQ:RVSB)
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