Riverview Bancorp terminates employment of Kevin Lycklama, without cause

Riverview Bancorp is announcing that on August 4, the board of directors of Riverview Bank and Riverview Bancorp, Inc. voted to terminate, without cause, the employment of Kevin Lycklama. The termination of employment is effective September 6, the company stated. “Daniel Cox has been named Acting President/CEO. For the past 21 years, Daniel Cox has worked for Riverview Bank. His expertise is in finance and credit administration. He currently is Executive Vice President and Chief Credit Officer. He leads the Bank’s commercial credit and collection policies, procedures and processes. And, he works closely with investor relations,” the company said. “Riverview remains a strong, regional banking option for clients looking for local leadership and commitment to community. Along with the release, we are providing a financial fact sheet. Here are some fast facts: $1.58 billion in assets; 44 straight quarters of profitability; Capital ratios remain strong, at 16.8%; Total loans are $1 billion with strong asset quality with low nonperforming assets of .01% of total assets; Strong deposit base; core deposits are 98% of total deposits; 34 consecutive quarters of dividend payments. Dividend ratio is 4.24%,” the company added.