|By Marketwired .||
|June 9, 2014 10:00 AM EDT||
ALLENTOWN, PA, and MARYSVILLE, PA -- (Marketwired) -- 06/09/14 -- Ambassador Financial Group, Inc. is pleased to announce that Riverview Financial Corporation (OTCQB: RIVE) has retained Ambassador to provide investor relations and financial communications services.
Riverview, headquartered in Marysville, Pennsylvania, is the recently formed parent company of Riverview Bank and its operating divisions, Halifax Bank, Marysville Bank and Riverview Financial Wealth Management. Riverview Financial's total assets and branch network grew significantly following the merger of Union Bank and Trust Co. and Riverview Bank, which closed in fourth quarter 2013.
The company provides high-touch retail, commercial banking, and wealth management services to markets in central Pennsylvania. The company had total assets of $434 million as of March 31, 2014, with loans of $325 million and deposits of $376 million.
"We believe this is an optimal time to expand and broaden our communications with the investment community and with our customer base," said Robert Garst, Riverview Financial's CEO. "Our management team is seasoned and we have confidence that our steady balance sheet and business strategy will support ongoing growth in shareholder value. Riverview's common stock is presently trading at approximately 85% of tangible book value per share, and the company has paid a common dividend in recent quarters, with a current annualized yield above 5%. We believe Riverview's stock is undervalued and intend to tell our story to a wider audience."
Robert Pachence, Managing Principal and co-founder of Ambassador, commented: "We were pleased to represent Riverview in its successful merger with Union, and now to help communicate the company's value proposition and growth story. We believe the company has a bright future and we look forward to assisting Riverview achieve its ongoing strategic objectives."
Riverview Financial Corporation, based in Marysville, Pennsylvania, operates 13 banking offices and drive-up facilities serving Dauphin, Cumberland, Schuylkill, Northumberland and Perry counties, Pennsylvania. The company has plans to open a 14th full service banking office in Spring Township, Berks County, in late summer 2014, where the bank has successfully operated a commercial loan production office since 2012.
Ambassador Financial Group, a FINRA registered broker-dealer, headquartered in Allentown, Pennsylvania, provides balance sheet management, investment banking, and investor relations services to community banks and thrifts nationwide.
Ambassador Financial Group, Inc.
Chief Executive Officer
Riverview Financial Corporation
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