Attached files
| file | filename |
|---|---|
| EX-1.1 - EXHIBIT 1.1 - RIVERVIEW BANCORP INC | riv-undagre0710.htm |
| 8-K - RIVERVIEW BANCORP, INC. FORM 8-K - RIVERVIEW BANCORP INC | k8riv72910.htm |
EXHIBIT
99.1
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| Contacts: Pat Sheaffer or Ron Wysaske, | |
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Riverview Bancorp, Inc.
360-693-6650
|
RIVERVIEW
BANCORP, INC. ANNOUNCES
PRICING
OF $18 MILLION PUBLIC OFFERING OF COMMON STOCK
Vancouver,
Washington - July 29, 2010 - Riverview Bancorp, Inc. (NASDAQ GSM:
RVSB) (“Riverview” or the “Company”), the holding company for Riverview
Community Bank (“Bank”), today announced the pricing of an underwritten public
offering of 10,041,841 shares of the Company’s common stock at a price to the
public of $1.80 per share for gross proceeds of approximately $18.1 million. The
net proceeds to the Company after deducting underwriting discounts and
commissions and estimated offering expenses are expected to be approximately
$16.3 million.
The
Company intends to use the proceeds from the offering to support the growth and
related capital needs of Riverview Community Bank, with any remainder for
general working capital purposes, which may include quarterly payments of
interest on the Company’s junior subordinated debentures.
The
Company intends to close the transaction, subject to customary conditions, on or
about August 3, 2010.
Wunderlich
Securities served as lead manager of the offering and Howe Barnes Hoefer &
Arnett served as co-manager. The Company has granted the underwriters a 30-day
option to purchase up to an additional 15% of the shares sold to cover
over-allotments, if any.
This
announcement shall not constitute an offer to sell or the solicitation of an
offer to buy these securities, nor shall there be any offer or sale of these
securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws of
any such jurisdiction. Offers will be made only by means of a prospectus, copies
of which may be obtained from Wunderlich Securities, Attention: Syndicate
Department at (800) 726-0557.
About
Riverview
Riverview
Bancorp, Inc. (www.riverviewbank.com) is headquartered in Vancouver, Washington
– just north of Portland, Oregon on the I-5 corridor. With assets of $863
million, it is the parent company of the 87 year-old Riverview Community Bank,
as well as Riverview Mortgage and Riverview Asset Management Corp. There are 17
branches, including ten in Clark County, two in Multnomah County and three
lending centers. The Bank offers true community banking services, focusing on
providing the highest quality service and financial products to commercial and
retail customers.
Forward-Looking
Statements
This
press release includes forward-looking statements within the meaning of the
"Safe-Harbor" provisions of the Private Securities Litigation Reform Act of
1995. These statements are necessarily subject to risk and uncertainty and
actual results could differ materially due to various risk factors, including
those set forth from time to time in our filings with the SEC. You should not
place undue reliance on forward-looking statements and we undertake no
obligation to update any such statements.