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 to determine if sensitive personal information was compromised during the breach.

Investigation Underway

According to documents filed with the U.S. Securities and Exchange Commission, the unauthorized network intrusion was first identified on June 19. The bank reports that the incident actually began on June 16, with the Prattville-based parent company, River Financial Corp., confirming that a threat actor accessed its network and successfully removed specific data from its digital environment.

Current Status and Impact

As of now, the company has not received any reports linking the incident to customer fraud. WSFA in Montgomery reports that the affected accounts involved in the breach are administrative in nature.

The cyberattack has already sparked legal action, with the bank noting in its filings that it is currently facing four class-action lawsuits. Established in 2006, River Bank & Trust manages $4 billion in assets.

Future Outlook

The company stated it has not yet fully determined the scope or long-term impact of the breach. In its recent report to the SEC, the bank noted, “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.”

Stay tuned to 205focus.com for further updates as this investigation develops.