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Riverview Community Bank decided to Celebrate Regulations

12-Apr-14
Riverview Community Bank decided to Celebrate Regulations

Riverview Community Bank officials are promoting confidence to know that they have won some trust in the eyes of federal regulators.

Earlier this week, Vancouver-based bank announced that its formal agreement with the Comptroller of the Currency (OCC) Office has been lifted for about three years.
Under the agreement, the implementation of banking supervision from the Office of Thrift Supervision change, Riverview subject to regulatory review, and in some restricted operations control center to provide a report on the formation of credit management and credit.

"When they (OCC) to give us the news [of the agreement was canceled] we have to take back a little, because it is a relatively short period of time and we are happy," said Ron Wysaske Riverview, president and chief operating officer, said.

Executive Vice addition , Kim Capeloto, Riverview - the OCC 's decision , Wysaske explanation to prove that the bank " we are making good credit decisions, we've got good credit policies and procedures to do what they ask us to do." president , said that the decision on the confidence and trust in the ability of banks operating in the vote the right way .

"Now they say, ' We believe you are on the right path and you clearly understand how to run your business better , so we do not run an adult day care and you are free to run your business , if you need us help, we are here to serve you. We visited for some time, but we believe you. “That’s courage in our industry a huge badge nowadays, " he said.

Formal agreement to lift the local economy is also growing, said, Wysaske explanation.
" From the time that the agreement has been in place, we have achieved a positive return six or seven quarters, “he said. “This is evidence that the local market is positive and it gets better, we have seen many signs of this reflect the local economy.”

Without a formal agreement, Wysaske said Riverview can better focus on the task at hand: "out of control in our communities and supporting good, solid social development."
"There is extra pair of eyes watching everything is expensive on your shoulders," he said. "We are very grateful for their views and their experiences (OCC’s), but if we do not worry so much, they look at our shoulders, we can do our job.”

Looking to the future, Wysaske said that one of the things Riverview agenda is development potential, as long as it should not be at the expense of quality.

"This is creating invalid as a result of the economy, and what it has done to the workers as well as the banks,” he said. "We are very pleased to be able to fill such a gap, there are some ways to do this : you organic growth [ and ] you are looking for opportunities there may be an opportunity to pick up a few branches that branches off from the bank , move or become one. Part of the larger banks monster we keep our eyes open for these opportunities. "

Capeloto said Riverview will continue to look for good loans, he thanked the company's customers for their support and dedication during this process with the OCC.
"We do not leave our customers, because they think we cannot get over this,” he said. "We continue to grow all of the past five years for new customers and new opportunities for us it is a huge problem.”