Riverview Bancorp announced Friday that Nicole Sherman will become the company’s next president and CEO, effective July 1.
Sherman will also join the board of directors of the Vancouver, Washington-based company and Riverview Bank, replacing Dan Cox, who has served as interim president for the past nine months.
When Riverview Bank placed its former CEO, Kevin Lykrama, on administrative leave “pending an internal investigation,” according to a regulatory filing last July, Mr. Cox stepped in. The bank’s board voted in August to fire Mr. Lykrama “without cause,” effective Sept. 6.
A bank spokesman told Banking Dive in August that Lykrama, who took over from longtime CEO Pat Shafer in 2018, was fired due to personnel issues and declined to comment further.
Riverview has appointed J. Scott Petty, managing partner in Chartwell Partners’ financial services division, to lead the national search for the candidate.
The newly appointed CEO brings more than 25 years of experience at various leadership levels to the company. A company with assets of $1.52 billion.
Sherman previously served as chief operating officer for Utah First Federal Credit Union and has also worked at Numerica Credit Union, AmericanWest Bank, Zions Bank and Columbia Bank, which merged with Umpqua Holdings Inc. last year for $5.2 billion.
“Riverview is an organization with an unwavering commitment to serving its customers and communities, and I look forward to leading efforts in support of that promise,” Sherman said in a prepared statement.
According to his LinkedIn profile, Sherman has been a top lecturer at the Pacific Coast School of Banking at the University of Washington’s Foster School of Business since 2003.
“Nicole Sherman has a proven track record of growing regional banking organizations for more than 25 years, including the past 20 in the Pacific Northwest, making her the right person to lead Riverview into the future,” Riverview board chairman Gerald L. Nease said in a statement Friday. “Nicole has a proven track record of building high-performing banking cultures, and we look forward to the expertise, energy and professionalism she will bring to Riverview.”
