River Valley Bancorp -5.2% after pricing secondary

|About: River Valley Bancorp. (RIVR)|By:, SA News Editor

River Valley Bancorp (RIVR -5.2%) prices its 825K share secondary at $20.50 per share for gross proceeds of approximately $16.9M. Underwriters retain an option to buy another 123.75K shares at the same price.

The Company plans to use proceeds to redeem all 5K of its issued Series A, Fixed Rate Cumulative Perpetual Preferred Stock, general corporate purposes, support future growth including organic growth, and opportunistic acquisitions.