River Valley Community Bank in Yuba City, Calif., has named John M. Jelavich as its new president.

Jelavich, 49, succeeds his father, John I. Jelavich. The elder Jelavich, 73, who had led the $148 million-asset River Valley since its founding in 2006, will remain chief executive.

The younger Jelavich joined River Valley's senior management team in July 2010, recently serving as chief operating officer. He will continue to hold that post. Before joining River Valley, he spent 22 years at mortgage insurer PMI Group.

The younger Jelavich "has demonstrated his leadership in taking on a number of operational and strategic initiatives for the bank which have been instrumental in moving the organization forward," River Valley Chairman Gary Thiara said in a Tuesday press release. "His ability to be forward looking and execute effectively will serve the bank well at this stage of our growth."

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