Riverview Bank Appoints Seasoned Merger and Acquisition Specialist as New CEO
In a significant move for Riverview Bancorp, Nicole Sherman has been appointed as the CEO, effective July 1, 2025. This announcement comes with a focus on strategic capital deployment, as the company has announced a stock repurchase program to enhance shareholder value.
Sherman, who brings over 25 years of leadership experience, has been a top-rated instructor at the Pacific Coast Banking School at the University of Washington's Foster School of Business since 2003, according to her LinkedIn profile. Her established record of building a high-performance banking culture has caught the attention of Riverview's board, with Gerald L. Nies, the board chair, expressing excitement about the expertise, energy, and professionalism she brings to Riverview.
Riverview Bancorp operates primarily in the Portland-Vancouver area, with $1.51 billion in assets and 17 branches as of March 2025. Sherman's leadership is expected to guide the company towards continued growth and success.
It's important to note that the bank's board voted to oust the former CEO, Kevin Lycklama, "without cause" in August, effective Sept. 6, 2024. The details of the internal investigation mentioned in connection with Lycklama's administrative leave last year have not been disclosed in the recent announcement.
Dan Cox has been serving as the interim head of Riverview Bank for the past nine months. The appointment of J. Scott Petty to lead the nationwide search for a new CEO and the merger of Umpqua Holdings and Columbia Bank, which took place in a $5.2 billion deal last year, are not directly related to Sherman's appointment.
In her prepared statement, Sherman expressed her dedication to Riverview's commitment to serving its clients and communities. With her extensive experience in the banking sector, Sherman will also join the boards of directors of Riverview Bancorp and Riverview Bank.
As Sherman takes the reins, the future of Riverview Bancorp looks promising, with a focus on strategic growth and a commitment to its communities.
[1] Riverview Bancorp Financial Statistics as of March 2025. (n.d.). Retrieved from https://www.riverviewbank.com/about-us/financial-statements/ [3] Sherman, N. (2018). Leading with a Growth Mindset. American Banker. Retrieved from https://www.americanbanker.com/opinion/leading-with-a-growth-mindset
- Nicole Sherman's extensive experience in the banking sector, coupled with her focus on building a high-performance banking culture, will undoubtedly contribute to the strategic growth and success of Riverview Bancorp, a Portland-Vancouver-based business operating primarily in the banking-and-insurance industry with a focus on finance.
- As the new CEO of Riverview Bancorp, Sherman will aim to serve clients and communities with dedication, while also ensuring the strategic deployment of capital, following the company's announced stock repurchase program designed to enhance shareholder value, further integrating her efforts into the broader industry.
