UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 1, 2021
Riverview Financial Corporation
(Exact name of registrant as specified in its charter)
| Pennsylvania | 001-38627 | 38-3917371 | ||
|
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
|
3901 North Front Street, Harrisburg, Pennsylvania |
17110 | |
| (Address of principal executive offices) | (Zip Code) |
(717) 957-2196
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
|
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
||
| Common Stock | RIVE | Nasdaq Global Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2) of this chapter.)
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
CURRENT REPORT ON FORM 8-K
| ITEM 8.01 |
Other Events |
Riverview Financial Corporation (the “Company” or “Riverview”) issued a press release on February 1, 2021 announcing the completion of the consolidation of two branch offices.
| Item 9.01 |
Financial Statements and Exhibits. |
| (a) |
None. |
| (b) |
None. |
| (c) |
None. |
| (d) |
Exhibits. |
| 99.1 | Press release issued by Riverview Financial Corporation on February 1, 2021 announcing the completion of the consolidation of two branch offices. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned, thereunto duly authorized.
| RIVERVIEW FINANCIAL CORPORATION | ||||||
| (Registrant) | ||||||
|
Dated: February 2, 2021 |
/s/ Brett D. Fulk |
|||||
| Brett D. Fulk | ||||||
| President and Chief Executive Officer | ||||||
Exhibit 99.1
NEWS RELEASE
RIVERVIEW FINANCIAL CORPORATION
ANNOUNCES COMPLETION OF BRANCH CONSOLIDATIONS
HARRISBURG, PA, February 1, 2020 / 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/.
SOURCE: Riverview Financial Corporation
Contact: Scott A. Seasock, CFO at 717.827.4039 or sseasock@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.