YUBA CITY, Calif., Oct. 09, 2019 (GLOBE NEWSWIRE) -- River Valley Community Bancorp (OTC markets: RVCB) with its wholly owned subsidiary, River Valley Community Bank (collectively referred to as the “Bank”) is announcing the Bank’s Executive Vice President and Chief Credit Officer Douglas R. Marr is retiring effective December 31, 2019. Mr. Marr’s planned decision to retire at the end of this year had previously set in motion the activation of the Bank’s succession planning process and marks the end of an impactful 40 year career in banking.
As part of its succession planning, the Bank is also announcing that Lucas C. Parnell will be promoted to Executive Vice President and Chief Credit Officer effective January 1, 2020. Mr. Parnell has been the Bank’s Senior Vice President, Regional Lending & Credit Officer since January 2018 and brings significant credit risk management, lending, and community banking experience to the Chief Credit Officer position.
To assist as needed with the transition, Mr. Marr will remain with the Bank through March 31, 2020 in a part-time capacity.
CEO John M. Jelavich commented, “While Doug has been great about sharing his retirement plans for quite some time, it’s hard to believe that time has come so quickly. Doug has been with the Bank since its inception, and we have been fortunate to have had his leadership guiding us successfully through the great recession. A large part of our Bank’s success has been due to Doug’s ability to manage a clean credit portfolio, and he should be very proud of his positive impact on our Bank, our customers, and our staff.”
“We are equally proud to have Luke Parnell stepping into the Chief Credit Officer role as Doug’s successor. Luke is a true community banker, and in the nearly two years he has been with our Bank, he has demonstrated his strong abilities in managing, structuring, and mitigating credit risk for the benefit of the Bank and our customers. We are very confident in Luke’s abilities and look forward to his continued contributions in his expanded leadership role with the Bank,” Jelavich concluded.
Stephen F. Danna, Chairman of the Board commented, “Doug has been a great Chief Credit Officer for the Bank. The entire Board of Directors is appreciative of his service and wish him the best in his well-deserved retirement. The Board is also confident in Luke’s ability to continue the disciplined approach to credit risk management we have established at the Bank. We congratulate Luke on his promotion and look forward to working with him in the Chief Credit Officer capacity.”
The Bank remains highly rated with BauerFinancial, Depositaccounts.com and Bankrate and serves its customer base through its offices located at:
- 1629 Colusa Avenue, Yuba City, CA
- 580 Brunswick Rd, Grass Valley, CA
- 905 Lincoln Way, Auburn, 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 forward‐looking statements. Forward‐looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by such statements. Forward‐looking statements speak only as to the date they are made. The Bank does not undertake to update forward‐looking statements to reflect circumstances or events that occur after the date the forward‐looking statements are made.