Riverview Bank and Operating Divisions Provide Relief Support to Customers, Communities Impacted by COVID-19

HARRISBURG – Riverview Financial Corp., parent company of Riverview Bank and its operating divisions, CBT Bank and Citizens Neighborhood Bank, has provided guidance as COVID-19 continues to evolve.

Riverview Bank is committed to taking actions deemed necessary to help ensure that its customers, employees and community neighbors remain safe and well positioned to bounce back as quickly as possible following the present pandemic crisis.

Riverview Bank has launched several initiatives and precautionary measures intended to mitigate the impact of the COVID-19 virus pandemic, which are detailed below.

The bank is providing relief in all aspects of its business to support its customers and neighbors impacted by the pandemic throughout the communities it serves, while remaining flexible in its ongoing efforts to balance customer service needs with operational changes required, as it reacts to environmental changes and governmental mandates.

“In community banking, local people and local businesses are why we are in business ourselves,” said Brett D. Fulk, president and chief executive officer.

“Our employees, our customers and the communities we serve are the reasons for our very being.  In this time of uncertainty, with the COVID-19 pandemic, we want you to know that your safety and well-being are paramount in every decision we make.

“Our team is working diligently to provide the products and services necessary to create peace of mind for all we serve, while adjusting our operating environment to take necessary precautions, keeping our customers and employees as safe as possible.”

Fulk continued “Our plan, and number one priority, is to be here for you throughout this current crisis and beyond.”

Financial Hardship Relief Efforts:

As everyone continues to navigate these challenges together, the bank is dedicated to promoting prevention and well-being throughout its communities by providing convenient and no-cost ways to access funds through limited or no-contact banking avenues.

Additionally, sectioned below are the Financial Hardships Relief efforts bank staff are offering to their community neighbors and valued customers during the COVID-19 pandemic.

• COVID-19 Relief Loan – 0 percent APR and no payments for the first six months, no-fees, 24-month term loan, unsecured, borrow up to $5,000.

¹ Borrower must recently be unemployed due to the COVID- 19 pandemic. Borrower must be able to furnish last pay stub or other acceptable proof of income. Subject to credit approval. Standard underwriting criteria apply. Credit score is based on lowest score of all applicants. Automatic Payment Deduction from a Riverview Bank, CBT or Citizens Neighborhood Bank checking or savings account is required. 0.00 percent APR (Annual Percentage Rate) for the first six months of the loan, thereafter the loan will accrue at a 2.99 percent APR for 18 months of the term. 24-month term loan. No payments for the first six months of the loan. Thereafter, payments of principal and interest will start at month seven and will continue 18 months for the life of the loan. Other terms and conditions may apply. If maximum loan amount of $5,000 is borrowed and repaid making the required loan payments only, the monthly payment will be 18 equal payments of $284.40 to satisfy the loan. Please contact the bank for full details.

• Fee Free ATM Services: Any ATM, Anywhere – All customers of Riverview Bank and its operating divisions will be able to access any non-Riverview Bank ATM, anywhere, with no fees from Riverview Bank,² which began on Monday, March 23, and ending on June 30. Also, for the benefit of everyone in the community, bank staff are temporarily eliminating any fees normally imposed on a non-Riverview Bank customer accessing money from any Riverview Bank ATM.

• Riverview Bank and its operating divisions’ customers, as well as customers of other banks, may still incur fees imposed by the foreign ATM’s Financial Institution or their own bank, respectively.
• Access Your Long-Term CD Savings, Penalty Free and at No Cost up to $5,000.

All customers of Riverview Bank and its operating divisions with funds invested in a Certificate of Deposit (CD) can access portions of their funds at no cost and penalty free. The first $5,000 from an existing CD can be withdrawn penalty free and at no cost to assist with financial hardships resulting from the COVID-19 virus.  If a customer requires more than $5,000 from a CD, they can access up to an additional 20 percent of the remaining CD balance in excess of the initial $5,000 withdrawal on a penalty-free basis as well. ³

³ CD (Certificate of Deposit) early withdrawal waiver is offered to all existing CD accounts up to $5,000, thereafter a customer may withdrawal up to 20 percent of the remaining balance over the $5,000 penalty-free. Early withdrawals in excess of the initial $5,000 and additional 20 percent waiver will be subject to the normal early withdrawal penalty fees imposed on this account. Fees may reduce earnings. No additional deposits are permitted to the CD. IRA CD early withdrawal may incur IRS penalty. See the bank’s IRA agreement for additional details. Consult your tax advisor. Please contact the bank for full terms and conditions.

• Fee Waivers or reversals of fees for Consumer Account holders Impacted by Financial Hardships Due to COVID-19: Impacted customers will be granted fee waivers for general account fees, in the instance of an overdraft occurrence due to insufficient funds within their deposit account, or waivers of loan late charges.  Please call your local community office for further information or to request support in the unfortunate event you have been negatively impacted by the current pandemic.

• Fee Free Remote Deposit Capture (RDC) for Business Customers: Fee Waivers, including monthly rental fees and per-ttem fees, will be granted now through June 30, to continue efforts in providing no-contact banking and assisting existing business customers with the fee relief support they need to safely and conveniently continue their business throughout the current COVID-19 crisis.

Relief Support Request, Contact Us Today: If you would like to apply for the COVID-19 Relief Loan or would like to request any of the outlined relief assistance above, please call your local community office, your dedicated relationship manager or the bank’s Customer Service Department at 888-765-7551.

Business Loan Customer Relief:
Support is available to existing Riverview Bank business borrowers impacted by financial hardships due to the COVID-19 pandemic on an individualized basis. Current business customers who wish to request relief may contact their dedicated relationship manager, local community office or Customer Service Department at 888-765 -7551.

• Payment Relief Options through Temporary Deferral of Business Loan Payments.
• Business Loan Payment Modifications to Interest-Only Payments.

• Temporary Business Loan Fee Waivers.

CARES Act Relief Programs:

Understanding that the bank’s business community is faced with varying and unique challenges, the staff deployed a dedicated CARES Act Relief team, equipped with the most-experienced SBA lenders who are working closely with each unique customer to identify solutions to benefit their individualized needs.

The dedicated CARES Act Relief team is available for the community, providing education and expertise on all resources offered by government agencies through the SBA, CARES Act Relief Programs and other government agency programs, such as:

• S. Small Business Administration (SBA) Paycheck Protection Program (PPP), providing loans through Riverview Bank that are supported by the SBA with a 100 percent loan guarantee with loan interest rates capped at 4 percent. This program is intended to provide funding for businesses to retain employees on their payroll, with initial loan payment deferrals and debt forgiveness provisions for eligible borrowers.
• S. Small Business Administration (SBA) Economic Injury Disaster Loan Program (EILP), providing low-interest federal disaster loans for small businesses impacted by COVID-19
• Pennsylvania Industrial Development Authority’s (PIDA) Small Business First Fund, the COVID-19 Working Capital Access Program (CWCA)
• Low-Interest Loans Offered by Pennsylvania Industrial Development Authority’s (PIDA)

A real-time list and full details of financing resources offered throughout the Commonwealth, including how to apply, by the agencies above can be accessed through the DCED Web site at  https://dced.pa.gov/funding-programs.

The bank’s experienced CARES Act Relief Team is available to assist you now. Please contact them directly through the dedicated relief support e-mail and or the toll-free number listed below:

Residential Mortgage and Consumer Loan Customer Relief:
Existing residential mortgage and consumer loan customers of Riverview Bank may also be eligible for relief support. Current consumer customers who wish to request relief may contact their local community office directly or call our Customer Service Department at 888-765-7551.

• Temporary Consumer Loan Fee Waivers.
• Temporary Deferral of Loan Payments on Residential Mortgage Loans and Consumer Loans.
• Loan Late Charge Waivers

As COVID-19 impacts the communities the bank serves, the staff are thoughtful in their giving efforts to fulfill support opportunities focusing on the life-sustaining needs of their neighbors. Mindful that all community non-profit partners have very worthy causes, the staff are grateful for the unified community understanding of what necessities have become top priorities in this current situation.

In support of the continued mission of delivering fresh and healthy food options to pantries throughout 27 counties of central Pennsylvania in a time where schools are not in session and supplies are at a minimum due to COVID-19, Riverview Bank committed a $15,000 contribution to the Fresh Express efforts of The Central Pennsylvania Food Bank.

The bank is continuing to evaluate its practices to continue serving the needs of its customers while protecting the health and well-being of its employees.

• In following CDC guidelines of social distancing and sanitization, staff are limiting customer contact in banking transactions without disrupting the customers’ ability to transact banking business.
• Staff are creating a work-from-home process, where applicable.
• Staff have suspended all non-essential business travel and in-person meetings.
• Staff have developed strategies to remain open and available to customers in areas under shelter-in-place mandates by the State of Pennsylvania. As a recognized essential business, as well as a life sustaining business, staff will remain open in areas impacted by shelter-in-place rules as long as staff remain permitted to do so under State and Federal law.  Out of concern for customers, employees and communities alike, staff will adjust locations and hours of operation within impacted areas in an effort to balance the ability to service customer needs for the longest periods of time possible with concern for the safety of customers, employees and communities.   Community Office locations and the temporary hours of operations are available on our COVID-19 resource page on our website, https://www.riverviewbankpa.com/COVID-news.html.  If your banking office is being consolidated to another neighbor office for banking services throughout this time and you would like to access a safe-deposit box in the temporarily closed location, please call our Customer Service Department at (888)765-7551 to set up an appointment.

Changes to Branch Hours & Banking Services

Bank staff are following the directives of the commonwealth of Pennsylvania, the guidance of the World Health Organization (WHO) and the Center for Disease Control and Prevention (CDC) to protect the health and well-being of employees and customers through safety controls and precautions in the branches and other facilities.

• Riverview Bank is temporarily limiting most locations to drive-up and ATM services, with lobby access available by appointment only.
• Also, in an effort to minimize any disruption this may cause, the bank has altered hours of operation at some of high-traffic drive-up locations. The bank will continue to balance customer service needs with safety efforts, and as a result will continue to modify hours as necessary. Community office locations and the temporary hours of operations are available on the COVID-19 resource page on the bank’s Web site, https://www.riverviewbankpa.com/COVID-news.html.
• As always, the bank continues to offer no-contact banking through its Bank Anywhere digital resources to assist customers through tools like Online24 – Internet Banking, Mobile Banking App and Customer Service Call Center. You can get started with the Bank Anywhere digital resources today by calling your local community office or the Customer Service Depart at 888-765-7551 to request assistance in enrolling in Online24- Internet Banking.

Riverview Bank’s Financial Strength:

The bank keeps a continued focus on its financial strength throughout all preparations and planning amidst the COVID-19 pandemic.

Riverview Bank’s stance on the pandemic relief:

As the bank continues to be tested with the unknown, it’s leadership says one thing remains certain: “We are in business for the communities we serve.  If our communities are thriving, we thrive, if our communities are facing challenges, we are right there alongside them.”

Riverview Bank and its operating divisions will make every effort necessary to provide the needed relief to its community neighbors, and it will continue to do as it has always done: “remain relevant within the environment we face, identifying all possible opportunities, and delivering solutions with a heightened level of urgency.

“Rest assured, your money remains safe while held within our bank.  If you have questions regarding FDIC deposit insurance, please call your local community office or visit the FDIC Web site.”

Fulk continued, “We remain strong and well capitalized.  Despite these unprecedented and uncertain times, our management team and board of directors continue to be dedicated to our customers, communities, employees and our company’s well-being.

“Our focus is to sustain a strong, adaptable business model that provides the resources needed to ensure we can effectively respond to the relief needs of our customers and employees with confidence, while continuing to remain a safe and sound company.”

Riverview Financial Corp. is the parent company of Riverview Bank. An independent community bank, Riverview Bank serves the Pennsylvania market areas of Berks, Blair, Bucks, Centre, Clearfield, Cumberland, Dauphin, Huntingdon, Lebanon, Lehigh, Lycoming, Perry, Schuylkill and Somerset counties through 27 community banking offices and three limited purpose offices.

Each office, interdependent with the community, offers a comprehensive array of financial products and services to individuals, businesses, not-for-profit organizations and government entities.

Riverview’s business philosophy includes offering direct access to senior management and other officers and providing friendly, informed and courteous service, local and timely decision making, flexible and reasonable operating procedures and consistently applied credit policies.

The company’s common stock trades on the NASDAQ Global Market under the symbol “RIVE”. The Investor Relations site can be accessed at https://www.riverviewbankpa.com/.

Certain statements contained herein are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as “may”, “will”, “believe”, “expect”, “estimate”, “anticipate”, “continue” or similar terms or variations on those terms, or the negative of those terms.

Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, those related to the economic environment, particularly in the market areas in which the Company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including compliance costs and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset-liability management, the financial and securities markets and the availability of and costs associated with sources of liquidity.

The company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made.

The company wishes to advise readers that the factors listed above could affect the company’s financial performance and could cause the company’s actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements.

The company does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.