American River Bankshares (NASDAQ:AMRB) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
On December 4, 2019, the registrant executed an amendment to a lease (the “Lease Amendment”) with Bradshaw Plaza, Associates, INC. dba Bradshaw Plaza (“Bradshaw Plaza”). This is the second amendment to the lease originally entered into on November 1, 2006. The Second Lease Amendment relates to office space currently occupied by one of the issuer’s banking subsidiaries, American River Bank. The premises are located at 9750 Business Park Drive, Sacramento, California, 95827. Bradshaw Plaza is owned by D B Fite Properties, Inc. Charles D. Fite, a director of the registrant is a majority shareholder in D B Fite Properties, Inc. The Lease Amendment is for a term of thirty-six (36) months, expiring on November 30, 2021. The Second Lease Amendment is an extension of the current lease which expired on November 30, 2019. The foregoing description is qualified by reference to the Lease attached as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
| (c) | Exhibits |
| 99.1 | Second Lease Amendment between Bradshaw Plaza, Associates, Inc. dba Bradshaw Plaza and American River Bank. |
AMERICAN RIVER BANKSHARES Exhibit
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To view the full exhibit click here
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.
