Bradley Carlson
About Bradley J. Carlson
Bradley J. Carlson (age 72 as of March 31, 2025) is an independent director of Riverview Bancorp, Inc. (RVSB) and CEO of Evergreen Memorial Gardens Cemetery, Funeral Chapel and Crematory (since 1995). He holds a B.A. in Communications and Advertising from Washington State University, joined RVSB’s board in 2014 (term to expire 2026), and brings community banking familiarity, executive leadership, and extensive regional business networks. He is currently a member of RVSB’s Audit and Nominating & Governance Committees .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Evergreen Memorial Gardens (WA) | CEO | 1995–present | Leads multi-service death-care operations; long-tenured operator . |
| Washington State Funeral Directors, Embalmers & Cemetery Board | Board Member (Governor appointee) | 11 years (prior) | Industry regulatory experience . |
| Association of Washington Business | Chair of the Board (past) | Prior | Statewide business advocacy; large network exposure . |
| Washington Cemetery, Cremation & Funeral Association | President (past) | Prior | Industry leadership . |
| RVSB (historical leadership) | Vice-Chairman of the Board | Noted in 2022 proxy | Board leadership experience at RVSB (historical) . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Fairmount Memorial Group (Spokane, WA) | Director | Current | External board role noted in RVSB proxy . |
Board Governance
- Independence: The Board has determined Carlson is independent under Nasdaq rules .
- Current committee assignments: Audit (member) and Nominating & Governance (member). He holds no chair roles in 2025 .
- Meeting attendance: During FY2025, the RVSB and Bank boards each held 13 regular meetings; no director attended fewer than 75% of board and committee meetings. Executive sessions are held regularly without the CEO/management .
- Board structure: Chairman and CEO roles separated; Vice Chair leads in Chair’s absence (Vice Chair is Bess Wills) .
- Risk oversight: Audit, Nominating & Governance, and other committees oversee specified risk domains; Audit meets in executive session with auditors and risk lead .
- Policies: Insider trading policy requires pre-clearance and trading windows ; hedging by directors and officers is prohibited (policy strengthened by 2025) .
- Related party transactions: Aggregate insider loans ~$1.7M at 3/31/25, on market terms with standard approval processes; no specific transaction with Mr. Carlson is disclosed .
Fixed Compensation (Director Fees)
| Metric | FY2024 | FY2025 |
|---|---|---|
| Annual retainer (directors) | $20,000 | $20,000 |
| Board meeting fee (per meeting) | $1,000 | $1,000 |
| Committee meeting/work session fee (per meeting) | $300 | $300 |
| Chair retainers (Board/Committees) | Chair: $20,000; Vice Chair: $5,000; Committee Chair: $7,000 | Chair: $20,000; Vice Chair: $5,000; Committee Chair: $7,000 |
| Bradley J. Carlson – total director fees (cash) | $48,400 | $43,500 |
Notes: No stock or option awards are disclosed for directors; director pay is cash-based in these years .
Performance Compensation
- Not applicable for non-employee directors; RVSB discloses no performance-based equity or cash incentive for directors in FY2024–FY2025 .
Other Directorships & Interlocks
| Company | Type | Role | Interlocks/Conflicts |
|---|---|---|---|
| Fairmount Memorial Group | Private/Non-public noted | Director | No RVSB-related interlock/conflict disclosed . |
No public company directorships are disclosed for Mr. Carlson in RVSB’s proxy materials .
Expertise & Qualifications
- Banking/finance familiarity, regional business networks, leadership and governance skills noted by RVSB as reasons for board service .
- Education: B.A., Washington State University (Communications & Advertising) .
- Committee-relevant experience: Governance exposure via past industry/regulatory boards; Audit membership indicates comfort with financial oversight although designated Audit Committee Financial Expert is Ms. Eby .
Equity Ownership
| Item | Amount |
|---|---|
| Beneficial ownership (as of July 2, 2025) | 20,421 shares; held jointly with spouse . |
| Shares outstanding (record date July 2, 2025) | 20,976,198 . |
| Ownership as % of shares outstanding | ~0.10% (20,421 / 20,976,198) . |
| Pledging/Hedging | Hedging prohibited by policy; no pledging disclosure for Mr. Carlson . |
Insider open-market purchases (alignment signal):
| Date (Transact./File) | Type | Shares | Price | Post-Transaction Ownership | Source |
|---|---|---|---|---|---|
| 2025-08-18 / 2025-08-19 | Purchase | 1,000 | $4.97 | 22,421 | |
| 2025-08-04 / 2025-08-05 | Purchase | 1,000 | $4.82 | 21,421 | |
| 2024-05-01 / 2024-05-02 | Purchase | 1,000 | $3.75 | 20,421 | |
| 2024-02-29 / 2024-03-01 | Purchase | 1,021 | $4.70 | 19,421 | |
| 2024-02-23 / 2024-02-23 | Purchase | 1,000 | $4.80 | 18,400 | |
| 2023-08-17 / 2023-08-18 | Purchase | 1,000 | $5.86 | 17,400 | |
| 2023-05-02 / 2023-05-03 | Purchase | 1,000 | $4.78 | 16,400 | |
| 2023-03-13 / 2023-03-14 | Purchase | 1,000 | $5.52 | 15,400 |
Compensation Committee Analysis (context)
- Personnel/Compensation Committee (independent directors) met 6 times in FY2025; 8 times in FY2024. It sets executive salary, incentive and equity programs; target incentive ranges include CEO 40% of salary; 2025 goals: profitability, deposit growth, asset quality, and personal goals .
- Say-on-Pay 2024 outcome: 87.1% For, 8.2% Against, 4.7% Abstain (no broker non-votes) .
Governance Assessment
- Positives
- Independence, long tenure since 2014, and active committee roles (Audit; Nominating & Governance) support board effectiveness .
- Attendance met the >75% threshold in FY2025; executive sessions practiced; separation of Chair/CEO roles .
- Multiple open-market purchases (2023–2025) increase alignment signal; beneficial ownership held with spouse indicates personal stake [links above].
- Strengthened hedging policy in 2025 reduces misalignment risk from hedging by insiders .
- Watch items
- Director compensation is entirely cash-based with no equity grants, which may modestly limit direct long-term alignment versus boards that include equity retainers .
- Aggregate insider loans exist (market terms); no borrower-level detail disclosed—monitor for any related-party exposure, though policy and oversight are in place .
- 2025 executive incentives were paid using Committee discretion despite missing consolidated net income threshold, reflecting retention rationale; Carlson is not on the Compensation Committee, but overall board oversight bears monitoring .
Appendix: Committee Snapshot (FY2025)
- Audit: Eby (Chair), Carlson (Member), Hoff (Member) .
- Nominating & Governance: Wills (Chair), Carlson (Member), Graham (Member) .
- Personnel/Compensation: Hoff (Chair), Wills (Member), Moreno (Member) .
- Executive: Nies (Chair), Hoff (Member), Sherman (Member), Wills (Member) .
- Senior Loan: Nies (Chair) plus rotating independent director .
- Technology: Moreno (Chair), Graham (Member), Sherman (Member), Nies (Member) .
References:
- 2025 DEF 14A (filed July 18, 2025): meetings, independence, committees, director fees, biographies, ownership, policies .
- 2024 DEF 14A (filed July 19, 2024): prior-year director fees/policies, committees, board processes .
- 8-K Item 5.07 (Sept 3, 2024): vote results (director elections and Say-on-Pay) .
- Insider trades (Form 4): SEC filing URLs listed in Equity Ownership table (above).