HARRISBURG, Pa., Feb. 1, 2021 /PRNewswire/ -- Riverview
Financial Corporation (the "Company" or "Riverview") (NASDAQ: RIVE), the holding
company for Riverview Bank (the "Bank"), today announced the
successful completion of the consolidation of two branch offices.
These consolidations announced in the fourth quarter of 2020 are
part of the company's ongoing efficiency initiatives, which began
in earnest during 2019. Accordingly, the Tower City Office, located
at 920 E. Wiconisco Avenue, Tower City,
PA and the Camp Hill Office, located at 3556 Gettysburg
Road, Camp Hill, PA were
successfully closed and consolidated into existing offices
effective January 31, 2020. Customer
accounts of the Tower City Office were transferred to Riverview's Elizabethville Office, located at
34 South Market Street, Elizabethville,
PA while those accounts of the Camp Hill Office were
transferred to Riverview's
Ridgeview Office, located at 500 South State Road, Marysville, PA. Riverview anticipates annual pre-tax savings
of $1.0 million as a direct
result of these two office closures.
About Riverview Financial Corporation
Riverview
Financial Corporation is the parent company of Riverview Bank. An
independent community bank, Riverview Bank serves the Pennsylvania market areas of Berks, Blair,
Bucks, Centre, Clearfield, Cumberland, Dauphin, Huntingdon, Lebanon, Lehigh, Lycoming, Perry, Schuylkill and Somerset Counties through 25 community banking
offices and 3 limited purpose offices. Each office, interdependent
with the community, offers a comprehensive array of financial
products and services to individuals, businesses, not-for-profit
organizations and government entities. Riverview's business philosophy includes
offering direct access to senior management and other officers and
providing friendly, informed and courteous service, local and
timely decision making, flexible and reasonable operating
procedures and consistently applied credit policies. The Company's
common stock trades on the NASDAQ Global Market under the symbol
"RIVE". The Investor Relations site can be accessed at
https://www.riverviewbankpa.com/.
Safe Harbor Forward-Looking Statements:
We make
statements in this press release, and we may from time to time make
other statements regarding our outlook or expectations for future
financial or operating results and/or other matters regarding or
affecting Riverview Financial Corporation, Riverview Bank, and its
subsidiaries (collectively, "Riverview") that may be considered
"forward-looking statements" as defined in Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Such forward-looking
statements may be identified by the use of such words as "believe,"
"expect," "anticipate," "should," "planned," "estimated," "intend"
and "potential." For these statements, Riverview claims the protection of the
statutory safe harbors for forward-looking statements.
Riverview cautions you that a
number of important factors could cause actual results to differ
materially from those currently anticipated in any forward-looking
statement. Such factors include, but are not limited to: the impact
of the COVID-19 outbreak, prevailing economic and political
conditions, particularly in our market area; credit risk associated
with our lending activities; changes in interest rates, loan
demand, real estate values and competition; changes in accounting
principles, policies, and guidelines; changes in any applicable
law, rule, regulation or practice with respect to tax or legal
issues; and other economic, competitive, governmental, regulatory
and technological factors affecting Riverview's operations, pricing, products and
services and other factors that may be described in Riverview's periodic reports as filed with the
Securities and Exchange Commission from time to time. Readers are
cautioned against placing undue reliance on any such
forward-looking statements. The Company's past results are not
necessarily indicative of future performance.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/riverview-financial-corporation-announces-completion-of-branch-consolidations-301219211.html
SOURCE Riverview Financial Corporation