Alabama financial institution investigating cyber attack

River Bank and Trust is currently navigating the fallout of a mid-June cyberattack. The financial institution, which maintains 25 locations across Alabama and Florida, is working diligently to determine if customer personal information was exposed during the breach.

Investigation Underway

According to official filings submitted to the U.S. Securities and Exchange Commission, the breach was first identified on June 19, following an initial attack on June 16. The Prattville-based parent company, River Financial Corp., confirmed that an unauthorized third party managed to gain access to parts of its network and successfully extracted certain data from the digital environment.

While the investigation continues, the bank reports that it has not received any notifications regarding fraudulent activity stemming from this incident. WSFA in Montgomery reports that the compromised accounts appear to be administrative in nature.

Corporate Status and Legal Challenges

Established in 2006, River Bank & Trust currently holds $4 billion in assets. Despite the company's size, the incident has already triggered four class-action lawsuits, as noted in the recent SEC filing.

In its latest disclosure, the company stated, “As of the date of this filing, River has not yet determined the full nature, scope and impact of the incident. In addition, it has not yet been confirmed whether the incident is reasonably likely to materially impact business or the financial condition of River.”

205focus.com will continue to monitor this developing story as more information becomes available.