David E. Ritchie Jr., also known as Dave, has been the Chief Executive Officer and President at American River Bankshares and American River Bank since November 1, 2017. He started his banking career in 1986 at Wells Fargo Bank, National Association, including three years in the Sacramento Regional Commercial Banking Office.
Mr. Ritchie worked in the Commercial Banking Group for 24 years, including as Executive Vice President responsible for the management of the Regional Commercial Banking Office in Irvine. He served as Executive Vice President and started the regional commercial banking office in Irvine, California, for OneWest Bank from November 2011 to June 2014.
From June 2014 to October 2017, Mr. Ritchie served as Senior Vice President and Head of Regional Commercial Banking Office at U.S. Bank National Association.
Mitchell A. Derenzo has been the Executive Vice President and Chief Financial Officer of American River Bankshares since 1995. Since 1992, he has been the bank’s Chief Financial Officer. Prior to that, he was a senior accountant at Ernst & Whinney from 1986 to 1988.
From 1988 to 1992, he was Controller and CFO of a locally based savings and loan. He is a board member of the American River Bank Foundation and the Sacramento Life Center.
In this 2,570 word interview with these two banking executives, exclusive to the Wall Street Transcript, they describe a strategy for local banking that offers high returns to investors:
“We hired a whole new lending team of seven people and brought them in pretty much throughout the first half of the year. They were from various banks in our territory. They have been producing results.
In the last three quarters of 2018, we were able to do $104 million in new loan commitments, which was really strong, in my opinion, from where we were. In the previous year, we did about $30 million. So we hired people and are now executing on our plan…”
Get the entire detail on how this fast growing bank is delivering returns to its equity investors by reading the entire 2,570 word interview in the Wall Street Transcript.
Recommended Reading – Why Good CEOs Make Bad Moves
January 29, 2009
Cannabis and Fires: Can this Bank Make Money in Northern California?
February 07, 2018
More Management Turmoil at Children’s Place
July 30, 2008