American Riviera Bancorp (“Company”) (OTCQX: ARBV), holding company of American Riviera Bank (“Bank”), recently announced changes in its Board leadership associated with normal succession planning. The changes were approved by the Board following the Company’s annual shareholder meeting and the Board’s organizational meeting on June 15, 2023, and were effective immediately. The appointments provide for continuity of leadership and fresh perspectives on the Company’s long-term performance and strategy.
After seventeen years of extraordinary leadership as Board Chairperson, Lawrence Koppelman, a founder of the Bank has assumed a board member-at-large position with the Company and Bank. Mr. Koppelman will continue to serve as a member of the Compensation and Asset Liability committees of the Board, and the Company will continue to benefit from his over fifty years of mortgage lending and banking experience.
Jeff DeVine, President and CEO of the Company and the Bank stated, “I have worked closely with Larry Koppelman for the last 15 years and he has been actively involved in every Board committee and major strategic decision. American Riviera Bank would not be where we are today without Larry’s statesmanship, wisdom, and dedication.”
After seventeen years of serving as Board Vice Chairperson, Darren Caesar, a founder of the Bank was elected by his peers to serve as Board Chairperson of the Company and Bank. Mr. Caesar has been Chairperson of the Nominating and Corporate Governance committee and will continue to serve on that committee as well as the Audit and Asset Liability committees of the Board. Mr. Caesar is President of the California Commercial Division of HUB International, a national insurance brokerage. He is also a member of HUB’s corporate executive committee. The Company will benefit from Mr. Caesar’s long-term experience on this Board as well as his experience successfully growing a financial company in California via organic growth and acquisitions.
Darren Caesar, Chairperson of the Company and the Bank stated, “I was honored to be elected by my peers to this important role and stand ready to lead this experienced and diverse Board. American Riviera Bank has built a strong franchise on the Central Coast of California, and I look forward to building on this legacy.”
After four years of service to the Board, Dr. Elizabeth Cholawsky was elected by her peers to serve as Board Vice Chairperson of the Company and Bank. Ms. Cholawsky was also elected Chairperson of the Nominating and Corporate Governance committee, and will continue to serve on the Audit and Compensation committees of the Board. Ms. Cholawsky is CEO of HG Insights a Santa Barbara based data technology company. She led the company before and after private equity firm Riverwood Capital Partners acquired its majority stake in 2020. Prior to joining HG, Ms. Cholawsky was CEO of Support.com (SPRT) and has held executive positions at Citrix (CTXS), Valueclick (VCLK), and other companies in general management, marketing, product management, and client services. She attended Stanford Directors College and has served on multiple public and private company boards.
Dr. Elizabeth Cholawsky, Vice Chairperson of the Company and the Bank stated, “I look forward to supporting Darren and the rest of the Board in my new role. I hope to continue to leverage my experience in data and technology to help position the Bank for the future as the lines between banking and fintech converge.”
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