The New Leadership of American Riviera Bank: What We Can Expect

American Riviera Bank has announced some changes to its board leadership, and these changes are 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. 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 board member-at-large positions with the Company and Bank. Jeff DeVine, President and CEO of the Company and the Bank, stated that they 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 it is 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 also President of the California Commercial Division of HUB International, a national insurance brokerage. The Company will benefit from Mr. Caesar's long-term experience on this Board and his experience successfully growing a financial company in California via organic growth and acquisitions. Mr. Caesar stated that he was honored to be elected by his peers to this important role and stands ready to lead this experienced and diverse Board. American Riviera Bank has built a strong franchise on the Central Coast of California, and he looks 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. Ms. Cholawsky stated that she looks forward to supporting Darren and the rest of the Board in her new role. She hopes to continue to leverage her experience in data and technology to help position the Bank for the future as the lines between banking and fintech converge.

American Riviera Bancorp is a registered bank holding company headquartered in Santa Barbara, California. American Riviera Bank, the 100% owned subsidiary of American Riviera Bancorp, is a full-service community bank focused on serving the lending and deposit needs of businesses and consumers on the Central Coast of California. The state-chartered bank opened for business on July 18, 2006, with the support of local shareholders. Full-service branches are located in Santa Barbara, Montecito, Goleta, Santa Maria, San Luis Obispo, and Paso Robles. The Bank provides commercial business, commercial real estate, residential mortgage, construction, and Small Business Administration lending services as well as convenient online and mobile technology. For thirteen consecutive years, the Bank has been recognized for strong financial performance by the Findley Reports and has received the highest "Super Premier" rating from Findley every year since 2016. The Bank was rated "Outstanding" by the Federal Deposit Insurance Corporation in 2023 for its performance under the Community Reinvestment Act.

In conclusion, these new appointments for American Riviera Bank's board leadership provide a fresh perspective on the Company's long-term performance and strategy. Larry Koppelman, a founder of the Bank, has assumed a board member-at-large position with the Company and Bank, while Darren Caesar, also a founder of the Bank, was elected by his peers to serve as Board Chairperson of the Company and Bank. Dr. Elizabeth Cholawsky was also elected by her peers to serve as Board Vice Chairperson of the Company and Bank. We can expect these changes in leadership to bring forward-thinking ideas to American Riviera Bank as they continue to provide and expand their services across the Central Coast of California.