UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest reported) October 20, 2006
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American River Bankshares
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(Exact name of registrant as specified in its chapter)
California 0-31525 68-0352144
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(State or other jurisdiction (Commission (IRS Employer
Of incorporation) File Number) Identification No.)
3100 Zinfandel Drive, Suite 450, Rancho Cordova, California 95670
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (916) 565-6100
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Check the appropriate box below if the Form 8-K is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[ ] Written communication pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Solicitation material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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Item 1.01. Entry into a Material Definitive Agreement.
On October 18, 2006, the Board of Directors of American River Bankshares (the
"Company") approved the 2007 calendar year fee schedule for the directors
(except management directors) for service on the Boards of the Company and the
Company's subsidiary, American River Bank, including the committees thereof.
The fee schedule for 2007 is as follows:
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Monthly Retainers Amount
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Board of Directors 800
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Chairman 1,500
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Finance & Capital Committee Chair 1,100
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Audit Committee Chair 1,100
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Loan Committee Chair 1,100
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Compensation Committee Chair 1,100
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Meeting Attendance Fees Amount
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Board of Directors 400
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Finance & Capital Committee 300
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Audit Committee 300
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Loan Committee 400
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Compensation Committee 300
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Subsidiary Board Meeting 350
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In addition the Board also approved the annual salaries for the Executive
Officers of the registrant for 2006 as follows: David Taber, Chief Executive
Officer, $257,500; Mitchell Derenzo, Chief Financial Officer, $145,000; Douglas
Tow, Chief Credit Officer, $145,000; Kevin Bender, Chief Information Officer,
$120,000; Gregory Patton, President of American River Bank, $140,000; Raymond
Byrne, President of North Coast Bank, a division of American River Bank,
$130,000; and Larry Standing, President of Bank of Amador, a division of
American River Bank $150,000.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AMERICAN RIVER BANKSHARES
/s/ MITCHELL A. DERENZO
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October 20, 2006 Mitchell A. Derenzo, Chief Financial Officer
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