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Riverview Financial Corporation Reports Fourth Quarter And Annual Financial Results For 2020


Riverview Financial Corporation Reports Fourth Quarter And Annual Financial Results For 2020
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HARRISBURG, Pa., Jan. 28, 2021 /PRNewswire/ Riverview Financial Corporation (the Company or Riverview ) (NASDAQ: RIVE), the holding company for Riverview Bank (the Bank ), today reported net income of $1.6 million or $0.17 per basic and diluted weighted average common share, for the fourth quarter of 2020, compared to net income of $1.3 million, or $0.14 per basic and diluted weighted average common share, for the fourth quarter of 2019. For the year ended December 31, 2020, Riverview reported a net loss of $21.2 million, or $(2.29) per basic and diluted weighted average common share, compared to net income of $4.3 million, or $0.47 per basic and diluted weighted average common share, for the same period last year. ....

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Banesco USA Completes Oversubscribed Private Placement of $15 Million in Subordinated Notes as the Florida-Based Community Bank Positions Itself for Growth


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CORAL GABLES, Fla., Dec. 29, 2020 /PRNewswire/  Banesco USA (the Bank ) announced today the completion of its private placement of $15.0 million of 5.50% Fixed to Floating Rate Subordinated Notes due 2030 (the Notes ) to qualified institutional buyers. The Notes will initially bear interest at a fixed annual rate of 5.50% for the first five years and will reset quarterly thereafter at the then current three-month SOFR rate plus 524 basis points. The Notes are intended to qualify as Tier 2 capital for regulatory capital purposes for the Bank.
The Bank intends to use the net proceeds from the offering for general corporate purposes including the support of capital levels and organic growth. ....

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