SOURCE: American River Bankshares

American River Bankshares

May 20, 2011 18:04 ET

American River Bankshares Announces the Results of Their 2011 Annual Meeting

SACRAMENTO, CA--(Marketwire - May 20, 2011) - The Board of Directors of American River Bankshares (NASDAQ: AMRB), announced the re-election of all eight Directors at their Annual Meeting held Thursday, May 19th in Rancho Cordova, California.

Shareholders re-elected Charles D. Fite, Robert J. Fox, William A. Robotham, David T. Taber, Dr. Roger J. Taylor, Stephen H. Waks, Philip A. Wright and Michael A. Ziegler as Director, each of whose current term expired at the 2011 Annual Meeting and their new term will expire in 2012.

The shareholders also approved the advisory vote concerning executive compensation, known as Say-On-Pay, as well as a one-year frequency on future Say-On-Pay votes. Additionally, the selection of Perry-Smith LLP as independent registered public accountants for American River Bankshares was ratified by a majority of votes cast. Perry-Smith LLP has served the Company since 1990.

In his address to shareholders, David Taber, President and CEO of American River Bankshares, discussed the Company's performance and strategic direction.

"American River Bankshares' specialty approach to business banking clearly differentiates us in an increasingly homogeneous industry," said David Taber. "With 71% of our checking and money market deposits coming from businesses, we have a strategy that puts us in a class of our own with a model that is very difficult to duplicate."

About American River Bankshares
American River Bankshares (NASDAQ: AMRB) is the parent company of American River Bank ("ARB"), a community business bank serving Sacramento, CA that operates a family of financial services providers, including North Coast Bank [a division of "ARB"] in Sonoma County and Bank of Amador [a division of "ARB"] in Amador County. For more information, please call 916-851-0123 or visit www.amrb.com; www.americanriverbank.com; www.northcoastbank.com; or www.bankofamador.com.

Forward-Looking Statement
Certain statements contained herein are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Actual results may differ materially from the results in these forward-looking statements. Factors that might cause such a difference include, among other matters, changes in interest rates, economic conditions, governmental regulation and legislation, credit quality, and competition affecting the Company's businesses generally; the risk of natural disasters and future catastrophic events including terrorist related incidents; and other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2010, and in subsequent reports filed on Form 10-Q and Form 8-K. The Company does not undertake any obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or otherwise, except as required by law.

Contact Information

  • Media Contact:
    Diana La Point
    Corporate Communications
    American River Bankshares
    916-231-6717