On Jan. 12, Riverview Bancorp, Inc., the holding company for Riverview Community Bank, announced that Patrick Sheaffer will retire as president and CEO of the company and bank, effective April 2. Kevin Lycklama, current executive vice president and COO of the company and the bank, will succeed Sheaffer as president and CEO.
Overall, Lycklama said he doesn’t anticipate many changes when he steps into his new role with the company and the bank in April.
“We are planning to continue to keep up with the community banking model,” Lycklama said. “Riverview has been around in the community for 95 years. We plan to continue to focus on community-minded relationship banking. I plan to continue Pat’s legacy.”
The 40-year-old Lycklama first joined Riverview back in 2006, and served as executive vice president and CFO of the company from 2008 to July 2017. He has served as COO since July 2017. Prior to joining Riverview, Lycklama was an audit manager for an Oregon CPA firm. He holds a bachelor’s degree from Washington State University, is a graduate of the Pacific Coast Banking School and is a certified public accountant.
Lycklama, who grew up in Vancouver and currently resides in Washougal, said he feels good about his new role with Riverview.
“I’m familiar with the culture here,” Lycklama said. “Working under both Pat and Ron (Wysaske), they did a great job mentoring me.”
With this transition, Lycklama will also join the Board of Directors. Sheaffer will continue to serve as chairman of the Board of both the company and the bank.
Sheaffer joined the bank in 1963 and became its CEO in 1976, a director in 1979 and chairman of the Board in 1993. He served as chairman of the Board, president and CEO of the Riverview Bancorp company since its inception in 1997.
“Pat’s leadership and dedication are evident in the success Riverview has experienced during his tenure,” Lycklama said, according to a news release from Riverview. “He is responsible for taking the company public in 1997, guiding us through multiple recessions and contributing to the growth of Riverview from seven employees and $6.5 million in assets at Dec. 31, 1963, to $1.1 billion in assets and over 250 employees at Sept. 30, 2017. I look forward to continuing Pat’s efforts in the successful operation of the company and moving forward with our established strategic plan.”
As stated in the news release, Sheaffer spoke highly of Lycklama and his new role as president and CEO.
“As we look to the future, the Board’s focus has been to identify the right leader to build on Riverview’s strong foundation, and Kevin is clearly that person,” Sheaffer said in the news release. “Kevin has been a driving force of our executive management team for the past decade and has been instrumental in the company’s growth and success. His commitment to our customers, employees and the community are totally aligned with our values and approach to doing business.”
“I am confident that Kevin’s talent, energy and banking experience, along with the strong management team we have built, will lead Riverview to new levels of success,” Sheaffer continued. “I’m excited to provide my support from the Board Room and watch Kevin continue his strong leadership of our organization.”
Sheaffer’s last day as president and CEO will be April 2.
