x

Posted 12 September, 2023

RIVERVIEW BANCORP INC appointed new CEO

CEO Change detected for ticker Nasdaq:RVSB in a 8-K filed on 12 September, 2023.


  On September 6, 2023, the Company and the Bank received and accepted the resignation of President and Chief Executive Officer Kevin J. Lycklama.  

Don't how to trade CEO change? Read Reasons for CEO Turnover and Effect on Stock Performance.
Overview of RIVERVIEW BANCORP INC
Financial Services • Banking
Riverview Bancorp, Inc. operates as a holding company. It provides community banking services to small and medium size businesses, professionals, and individuals. It offers a range of deposit products, including demand deposits, negotiable order of withdrawal accounts, money market accounts, savings accounts, certificates of deposit, and retirement savings plans. The company also provides commercial business, commercial real estate, other real estate mortgage, and real estate construction loans, and consumer loans, such as one-to-four family mortgage loans, home equity lines of credit, land loans, and other secured and unsecured consumer loans. In addition, it is involved in the provision of mortgage brokerage and mortgage loan servicing activities, as well as offering asset management services consisting of trust, estate planning, and investment management services. The company was founded in 1997 and is headquartered in Vancouver, WA.
Market Cap
$96.1M
View Company Details
RIVERVIEW BANCORP INC by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers


(b) As previously reported in a Current Report on Form 8-K that was filed with the Securities and Exchange Commission (the "SEC") on August 9, 2023, the Board of Directors of Riverview Bank (the "Bank") and Riverview Bancorp, Inc. (the "Company") on August 4, 2023 voted to terminate, without cause, the employment of Kevin J. Lycklama with the Bank. The termination of employment without cause was effective on September 6, 2023 in accordance with certain advance notice procedures in his Employment Agreement, dated December 31, 2018. Mr. Lycklama continued to receive his current base salary through September 6, 2023 but he was excused from all further duties.


On September 6, 2023, the Company and the Bank received and accepted the resignation of President and Chief Executive Officer Kevin J. Lycklama. Mr. Lycklama also resigned his positions as a director of the Company and the Bank. Mr. Lycklama's resignations were effective as of the close of business on September 6, 2023. The resignation as a director was given because of the termination without cause ot Mr. Lcycklama's employment, as above stated.


Mr. Lycklama's resignation from the Board of Directors was not as a result of any disagreement with the Company pertaining to the Company's operations, policies or practice. A copy of the Resignation Letter is attached hereto as Exhibit 17.1 and the description of the contents of the Resignation Letter contained in this Form 8-K is qualified in its entirety by reference to the full text of the Resignation Letter.