Murray Neighbors
About W. Murray Neighbors
W. Murray Neighbors (age 75) serves as Director and Vice Chairman of the Board of River Financial Corporation (RVRF) and River Bank & Trust; he has been on the board since 2015. He is retired from the U.S. Treasury Department, was a founder and Chairman of Keystone Bancshares, Inc. and Keystone Bank (2007), and is an active developer of commercial and residential properties in Auburn, AL, with extensive community service roles in Auburn and Lee County .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Keystone Bancshares, Inc. / Keystone Bank | Chairman; founding board member | 2007 | Leadership role in community banking; later merged with River Bank & Trust |
| U.S. Treasury Department | Retired official | Not disclosed | Federal financial oversight experience |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| City of Auburn Commercial Development Authority | Member | Not disclosed | Local economic development engagement |
| Auburn Chamber of Commerce | Business Development Committee member | Not disclosed | Business community leadership |
| Lee County Rotary Club | Treasurer | Not disclosed | Civic leadership |
| Lee County Planning Commission | Member | Not disclosed | Land use and planning experience |
Board Governance
- Board role: Director and Vice Chairman since 2015; appears to be a non-management director (not listed among executive officers) .
- Committee assignments and chair roles: Not disclosed in the reviewed 2025/2024/2023/2022 proxy materials .
- Independence designation: Not explicitly stated in the proxies reviewed .
- Attendance/engagement: No board or committee meeting attendance disclosure found in the reviewed proxies .
- Executive sessions: Not disclosed .
- Compensation plan governance: The Executive Compensation Committee administers the 2025 Incentive Stock Compensation Plan; membership details not listed .
Fixed Compensation
- Annual retainer, committee fees, meeting fees: Not disclosed in the reviewed proxy statements .
Performance Compensation
- Equity grants or performance-based awards for directors: Not disclosed; the 2025 Incentive Stock Compensation Plan applies to officers and employees, not directors .
Other Directorships & Interlocks
| Company/Organization | Public Company? | Role | Overlap/Interlock |
|---|---|---|---|
| Keystone Bancshares, Inc. / Keystone Bank | Not disclosed | Founder; Chairman | Historical leadership in community banking; later merged into River platform |
Expertise & Qualifications
- Banking governance and community banking experience via Keystone Bancshares/Keystone Bank .
- Government/financial oversight experience from the U.S. Treasury Department .
- Real estate development and local planning expertise (Auburn/Lee County roles) .
- Community and civic leadership (Rotary Treasurer, Chamber committee member) .
Equity Ownership
| Metric | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Shares Beneficially Owned (#) | 60,002 | 60,002 | 64,843 | 64,843 |
| Ownership (% of outstanding) | 0.90% | 0.90% | 0.85% | 0.84% |
- Vested/unvested breakdown; options, RSUs: Not disclosed for Mr. Neighbors (breakouts provided only for certain executives) .
- Shares pledged/hedged: Not disclosed in reviewed proxies; an amended Insider Trading Policy was filed in Oct-2025 (content not detailed in the 8-K index) .
Insider Trades
| Period | Form 4 Transactions |
|---|---|
| 2023 | None found |
| 2024 | None found |
| 2025 (YTD through Nov 20) | None found |
Source: insider-trades skill query for RVRF and person “Murray Neighbors” from 2023-01-01 to 2025-11-20 returned no records.
Governance Assessment
- Alignment: Owns ~0.84% of outstanding shares in 2025, up from 0.85% in 2024 and 0.90% in 2023/2022 in absolute shares terms (increase to 64,843 shares); meaningful personal ownership supports alignment with shareholders .
- Tenure and experience: A decade on the board (since 2015) with prior banking chair experience and government background provides governance continuity and regulatory familiarity .
- Transparency gaps: No disclosure on committee assignments, attendance, or director fee/equity compensation in the proxies reviewed, limiting external assessment of board effectiveness and pay-for-performance alignment for directors .
- Policy signals: The company filed an Amended and Restated Insider Trading Policy in Oct-2025, a governance positive; specific prohibitions (e.g., hedging/pledging) not ascertainable from the exhibit listing alone .
- Conflicts/related-party exposure: No related-party transactions involving Mr. Neighbors are disclosed in the reviewed proxies; continued monitoring advisable given his real estate development activities, though no issues are reported in company filings reviewed .
RED FLAGS
- Limited proxy disclosure on director compensation structure, committee memberships, and attendance makes it harder to evaluate board effectiveness and incentive alignment .
Notes
- 2025 Incentive Stock Compensation Plan reserves 500,000 shares for officers/employees; the Executive Compensation Committee administers terms including options, SARs, restricted stock, and RSUs; performance-related tax considerations under Section 162(m) discussed for executives (not directors) .