The board of directors of Yuba City-based River Valley Community Bank has approved the formation of a bank holding company.
Shareholders of the bank’s common stock will receive equal shares of common stock of River Valley Community Bancorp. The principal executive officers and directors of the new corporation will be the same as those of the bank.
Completion of the reorganization is subject to approval by the bank’s shareholders and regulators. Started in 2006, River Valley has offices in Yuba City and Grass Valley.