Riverview Bancorp Announces CEO Succession Plan

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VANCOUVER, British Columbia, Jan. 12, 2018 (GLOBE NEWSWIRE) — Riverview Bancorp, Inc. (NASDAQ:RVSB) (the “Company”), the holding company for Riverview Community Bank (the “Bank” and collectively “Riverview”),  today announced that, effective April 2, 2018, Patrick Sheaffer will be retiring as President and Chief Executive Officer of the Company and the Bank.  Mr. Sheaffer will continue to serve as Chairman of the Board of both the Company and the Bank. Kevin Lycklama, currently Executive Vice President and Chief Operating Officer, will succeed him as President and Chief Executive Officer of the Company and the Bank. With the transition, Mr. Lycklama will join the Board of Directors.

Patrick Sheaffer joined the Bank in 1963 and became its Chief Executive Officer in 1976, a director in 1979 and Chairman of the Board  in 1993.  Mr. Sheaffer served as Chairman of the Board, President and Chief Executive Officer of the Company since its inception in 1997.

“Pat’s leadership and dedication are evident in the success Riverview has experienced during his tenure. He is responsible for taking the Company public in 1997, guiding us through multiple recessions and contributing to the growth of Riverview from seven employees and $6.5 million in assets at December 31, 1963 to $1.1 billion in assets and over 250 employees at September 30, 2017,” stated Mr. Lycklama. “I look forward to continuing Pat’s efforts in the successful operation of the …

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