American River Bankshares (NASDAQ:AMRB) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
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(1) On December 20, 2017, the Board of Directors of the registrant, American River Bankshares, approved base salaries for the following executives, effective April 1, 2018: Mitchell Derenzo, Chief Financial Officer, $226,000; Kevin Bender, Chief Operating Officer, $226,000; and Loren Hunter, Chief Credit Officer, $201,000.
Item 9.01. Financial Statements and Exhibits.
|(b)||Pro Forma Financial Information|
|(c)||Shell Company Transactions|
About American River Bankshares (NASDAQ:AMRB)
American River Bankshares is a bank holding company. The Company’s banking subsidiary is American River Bank (the Bank). The Bank’s primary business is serving the commercial banking needs of small to mid-sized businesses. The Bank accepts checking and savings deposits; offers money market deposit accounts and certificates of deposit; makes secured and unsecured commercial loans, secured real estate loans, and other installment and term loans, and offers other customary banking services. The Bank also conducts lease financing for various types of business equipment, from computer software to heavy earth-moving equipment. It serves various communities located in Sacramento, Placer, Yolo, El Dorado, Sonoma and Amador counties. It also serves Alameda, Contra Costa and Santa Clara Counties through loan production offices located in the Cities of San Jose and San Ramon. Its loans include real estate construction loans; lease financing receivable; agriculture loans, and consumer loans.