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Posted 03 October, 2023

RIVERVIEW BANCORP INC appointed new CEO

CEO Change detected for ticker Nasdaq:RVSB in a 8-K filed on 03 October, 2023.


  Riverview Bancorp, Inc. ("Company") and its wholly-owned subsidiary, Riverview Bank ("Bank"), entered into a separation agreement and release ("Agreement") with Kevin Lycklama, effective October 3, 2023, whose employment with the Company and the Bank as President and Chief Executive Officer ended effective September 6, 2023 (as reported by the Company in its Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on August 9, 2023).  

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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


(e) Separation Agreement and Release for Kevin Lycklama


Riverview Bancorp, Inc. ("Company") and its wholly-owned subsidiary, Riverview Bank ("Bank"), entered into a separation agreement and release ("Agreement") with Kevin Lycklama, effective October 3, 2023, whose employment with the Company and the Bank as President and Chief Executive Officer ended effective September 6, 2023 (as reported by the Company in its Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on August 9, 2023). Pursuant to the Agreement, Mr. Lycklama will continue to receive his monthly base salary for 12 months which will total $410,200 at the end of the 12 month period (less appliable taxes and other required deductions and withholdings) and certain other benefits; and Mr. Lycklama has agreed to, among other things, a customary, general waiver and release of claims, as well as post-employment covenants with respect to confidential information and non-solicitation of certain customers and employees.


The description of the Agreement set forth in this Item 5.02 is not complete and is qualified in its entirety by reference to the full text of the Agreement among the Company, the Bank, and Mr. Lycklama, which is included as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.