Nov 26 - River Valley Community Bank, headquartered in Yuba City, Calif., (OTC Markets: RVVY) has announced its board of directors has approved a special cash dividend of 30 cents per common share to shareholders of record as of Nov. 29, 2012, and payable either directly or through their broker on or about Dec. 19, 2012.
Its amazing what our bank has accomplished in six and a half economically challenging years, commented John I. Jelavich, president and CEO. Our continued profitability and strong capital position enable the bank to make this special, one-time dividend payment to our shareholders this year ahead of potential tax increases that could come about in 2013. Jelavich added, We are very pleased to be returning over $500,000 to our shareholders. Moving forward, our long term plan is to grow the bank, and we believe this payment will have little, if any, impact on the capital we need to achieve our goals.
River Valley Community Bank is located at 1629 Colusa Avenue, Yuba City, Calif. For more information please contact John Jelavich at 530-821-2460 or visit the bank's website at www.rivervalleycommunitybank.com.