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Terry Maltese cuts stake in American River Bankshares to 7.7%

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Terry Maltese cuts stake in American River Bankshares to 7.7%

Terry Maltese, along with his investment vehicles such as Maltese Capital Management LLC, disclosed beneficial ownership of 514,009 shares of American River Bankshares common stock.

The figure represents a 7.7% stake in the Rancho Cordova, Calif.-based company, based on its 6,656,594 shares reported outstanding as of Nov. 2, 2016.

The investor group previously declared a 9.23% stake in the company, reflecting beneficial ownership of 711,200 common shares.