Riverview Bank appoints chief strategy officer

//March 21, 2019

Riverview Bank appoints chief strategy officer

//March 21, 2019

Steven Ehrlich (Photo: Submitted)

Riverview Financial Corp. has appointed Steven A. Ehrlich as senior executive vice president and chief strategy officer for the company and its subsidiary, Riverview Bank.

Ehrlich was chosen to fill the newly created position of chief strategy officer to maximize the bank’s opportunities to grow and expand in the industry, according to Brett D. Fulk, Riverview president and CEO.

“Steve will be charged with the identification, development and implementation of many strategic initiatives for Riverview as we continue to pursue profitable growth opportunities, increase our focus on operations efficiencies and enhance our efforts to identify and deploy technological innovations within the financial sector,” Fulk said.

Ehrlich and Riverview will enter into a two-year employment agreement, but the terms have not yet been set, according to a filing with the U.S. Securities and Exchange Commission.

Prior to his appointment, Ehrlich was president of Malvern-based First Priority Financial Corp. and served as president and CEO of its subsidiary, First Priority Bank, according to a news release.

First Priority Financial was acquired by Millersburg-based Mid Penn Bancorp Inc. in 2018 and First Priority Bank was merged into Mid Penn’s subsidiary bank, Mid Penn Bank. It now operates as First Priority Bank, a Division of Mid Penn Bank.

Ehrlich has also served as the founder, chairman, president and CEO of Affinity Bancorp Inc. and its subsidiary, Affinity Bank of Pennsylvania, based in Wyomissing. Affinity Bank was acquired by First Priority Financial in 2013, according to the SEC filing.

The Susquehanna Township-based Riverview Financial is the parent company of Riverview Bank and its operating divisions Citizens Neighborhood Bank, CBT Bank, Riverview Wealth Management and CBT Financial and Trust Management. It serves portions of Berks, Blair, Centre, Clearfield, Dauphin, Huntingdon, Lebanon, Lycoming, Northumberland, Perry, Schuylkill and Somerset counties through 30 branches and three limited-purpose offices.

The wealth management and trust divisions, with more than $350 million in assets under management, provide trust and investment advisory services to individuals, businesses and nonprofits.

Overall, the bank had assets of $1.14 billion as of Dec. 31, 2018, according to reports filed with the U.S. Securities and Exchange Commission.