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 Officers
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
wholly owned subsidiary, Riverview Community Bank (“Bank”),
issued a press release announcing that Director Michael D. Allen
retired from the Boards of Directors of the Company and the Bank
on April 25, 2017.
Bank since 2001. Mr. Allen served as a member of the Board of
Directors’ Stock Option Committee, Nominating Committee,
Personnel/Compensation Committee, the Risk Management Committee
and the Senior Loan Committee. In connection with his
announcement of his retirement, Mr. Allen did not cite any
disagreement with the Company pertaining to the Company’s
operations, policies or practices.
retirement on Mr. Allen, the Company and the Bank have appointed
John A. Karas to both boards. 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. It is not
yet known to which committee(s) of the Company or the Bank Mr.
Karas will be appointed. For additional information concerning
Mr. Karas’ background, please refer to the press release dated
April 28, 2017, which is attached hereto as Exhibit 99.1 and
incorporated herein by reference.
director or other executive officer of the Company or the Bank
and Mr. Karas was not appointed as a director to any arrangement
or understanding with any person. Mr. Karas has not engaged in
any transaction with the Company or the Bank that would be
reportable as a related party transaction under the rules of the
Securities and Exchange Commission.
Press Release dated April 28, 2017
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. RIVERVIEW BANCORP, INC. (NASDAQ:RVSB) Recent Trading Information
RIVERVIEW BANCORP, INC. (NASDAQ:RVSB) closed its last trading session down -0.21 at 7.26 with 16,460 shares trading hands.