River Valley Community Bank Announces Change to its Board of Directors

YUBA CITY, Calif., June 01, 2017 (GLOBE NEWSWIRE) -- River Valley Community Bank (OTC Markets:RVVY) headquartered in Yuba City, California announced the retirement of Axel Karlshoej from its Board of Directors. Mr. Karlshoej has served on the Bank’s Board since it was formed in June, 2006. Filling the position to be vacated by Mr. Karlshoej, the Bank also announced the appointment of Lawrence Raber to its Board of Directors. Both changes are effective June 1, 2017.

Mr. Raber is a retired Partner with Crowe Horwath LLP where he recently concluded his 40 year career providing audit and advisory services to clients in the Banking industry.

Steve Danna, Chairman, commented, “On behalf of our Board and management team, we thank Axel for his outstanding service to the Bank over the past eleven years. His knowledge, insight, and engagement have had a very positive impact on our Bank’s development, and his contributions are very much appreciated by the Board.”

“While we have been very fortunate to have Axel serve on our Board, we are equally fortunate to have someone with Larry’s professional experience joining our Board. We have had the pleasure of working with Larry over the past ten years, where we have developed a strong relationship and respect for his knowledge and expertise. Now as a member of our Board of Directors, Larry’s knowledge of the banking industry will be especially important in supporting our ongoing growth,” Danna concluded.

Axel Karlshoej commented, “It’s been very satisfying to see this Bank grow as it has over the past 11 years, and it has been a pleasure being a part of this team. While I am retiring from the Board, I look forward to continuing my support for the Bank’s continued growth, and I’m confident that Larry’s addition to the Board will help take the Bank to the next level.”

River Valley Community Bank is rated "5-Star Superior" by Bauer Financial and has an “A” rating from DepositAccounts.com. The Bank serves its customer base through its offices located at:

  • 1629 Colusa Avenue, Yuba City, CA
  • 426 Sutton Way, Grass Valley, CA

The Bank offers a full suite of competitive products, services, and banking technology. For more information please visit our website at: www.myrvcb.com or contact John M. Jelavich at 530-821-2469.

Forward Looking Statements: This document may contain comments and information that constitute forwardlooking statements. Forwardlooking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by such statements. Forwardlooking statements speak only as to the date they are made. The Bank does not undertake to update forwardlooking statements to reflect circumstances or events that occur after the date the forwardlooking statements are made.

Source:River Valley Community Bank