John I. Jelavich, CEO of Yuba City-based River Valley Community Bank, will retire from that post on April 1, closing out a 45-year career in the banking industry.
River Valley Community Bank, started in 2006, has offices in Yuba City and Grass Valley. Despite starting on eve of the recession, the bank has consistently rolled up profits.
In 2013, River Valley reported a profit of nearly $1.25 million, or 72 cents a share, and notched its 26th consecutive profitable quarter to close out the year.
John has been a very strong leader, not only having the vision for the formation of the bank (and) his execution of the start-up business plan, but importantly his management of the bank through extremely challenging times, said Gary Thiara, chairman of the banks board.
Having navigated through the great recession and developing a safe, strong, secure and the most dominant community bank in our region is among our proudest achievements, Jelavich said.
The banks board announced that John M. Jelavich, currently president and chief operating officer, has been appointed president and CEO, also effective April 1. John I. Jelavich will continue on as a consultant to his son throughout 2014 and will stay on as a bank director for an indefinite period beyond that.
Call The Bees Mark Glover, (916) 321-1184.