Business Services Industry
River Valley Bancorp Announces Change in Management Structure
Business Wire, Oct 13, 1999
MADISON, Ind.--(BUSINESS WIRE)--Oct. 13, 1999--
River Valley Bancorp (NASDAQ:RIVR), parent company of River Valley Financial Bank, a financial institution based in Madison, Indiana, announced that Robert D. Hoban, the Bank's Executive Vice President, has resigned as an officer of the Bank effective October 4, 1999. Matthew P. Forrester, the President and Chief Executive Officer of River Valley Bancorp and the Bank, will assume the duties previously peformed by Mr. Hoban.
Pursuant to his employment contract, Mr. Hoban is entitled to severance benefits which resulted in a charge to the Corporation's pretax earnings in the quarter ended September 30, 1999, of $184,000.00.
River Valley Financial Bank operates five full-service offices and one drive-up facility in Madison and Hanover that offer a variety of deposits and lending services to retail and commerical customers in Jefferson and surrounding counties.
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