RIVERVIEW BANCORP, INC. (NASDAQ:RVSB) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
of Certain Officers; Compensatory Arrangements of Certain Officers .
On March 28, 2018, Director Gary R. Douglass announced that he was resigning from the Boards of Directors of Riverview Bancorp, Inc. ("Company") and its wholly-owned subsidiary, Riverview Community Bank ("Bank") effective March 31, 2018. In connection with his announcement of retirement, Mr. Douglass did not cite any disagreements with the Company pertaining to the Company's operations, policies or practices. Mr. Douglass served as a Director of the Company and the Bank since 1994 and as a member of the Audit, Stock Option and Risk Management Committees. On March 28, 2018, Kevin J. Lycklama was appointed to the Company's and the Bank's Boards of Directors effective March 31, 2018. On April 2, 2018, Mr. Lycklama will become the Company's and the Bank's President and Chief Executive Officer. Mr. Lycklama was not appointed to serve on any of the Company's or the Bank's Committees of their respective Boards of Directors at this time.
Subsequent to April 2, 2018, Mr. Sheaffer will remain an employee and continue to assist in the CEO transition through September 30, 2018. He will also continue to serve as Chairman of the Boards of the Company and the Bank, including subsequent to the September 30, 2018 transition period.
About RIVERVIEW BANCORP, INC. (NASDAQ:RVSB)
Riverview Bancorp, Inc. (Riverview) is a savings and loan holding company of Riverview Community Bank (the Bank). The Company operates through two segments, which include banking operations performed by the Bank and trust and investment services performed by Riverview Asset Management Corp. (RAMCorp). The Company is engaged in the business of attracting deposits from the general public and using such funds in its primary market area to originate commercial business, commercial real estate, multi-family real estate, land, real estate construction, residential real estate and other consumer loans. Additionally, RAMCorp offers trust and investment services. Riverview Mortgage, a mortgage broker division of the Bank, originates mortgage loans for various mortgage companies in the Vancouver/Portland metropolitan areas, as well as for the Bank. The Bank’s Business and Professional Banking Division offers commercial and business banking services. It operates from over 20 branch offices.
