April 19 2013
Sacramento, CA, April 18, 2013 - American River Bankshares (NASDAQ-GS: AMRB) today reported net income of $622,000, or $0.07 per diluted share for the first quarter of 2013 compared to $712,000, or $0.07 per diluted share for the first quarter of 2012."We continue to have success in reducing nonperforming assets, which has led to lower credit costs," said David Taber, President and CEO of American River Bankshares. "In addition, the success of our stock repurchase program has permitted earnings per share to remain constant."
Taber continued, "The current marketplace is hypercompetitive and coupled with a slow recovery, has made loan growth a challenge, one that we are addressing with a focus on value, upgraded sales personnel and a strategic expansion into the San Francisco Bay Area market." Read More>>
January 24 2013
Sacramento, CA, January 24, 2013 - American River Bankshares (NASDAQ-GS: AMRB) today reported net income of $870,000, or $0.09 per diluted share for the fourth quarter of 2012 compared to $1.0 million or $0.10 per diluted share for the fourth quarter of 2011. For the twelve months ended December 31, 2012, net income was $3.2 million, or $0.34 per diluted share compared to $2.5 million or $0.25 per diluted share for the twelve months ended December 31, 2011. A reduction in the provision for loan and lease losses, due to improving asset quality, higher noninterest income and a lower tax provision contributed to the profitability for both the quarter and the year."This past year has been one of mixed results, with a 28% increase in profits and a 52% higher share price," said David Taber, President and CEO of American River Bankshares. "We were also able to reduce nonperforming assets by 18% as well as increase core deposits by 5%."
Taber continued, "Despite those positives, our loan totals do not reflect our activity as payoffs outpace new loan originations which continues to put pressure on our net interest margin." Read More>>
October 18 2012
Sacramento, CA, October 18, 2012 – American River Bankshares (NASDAQ-GS: AMRB) today reported that net income of $780,000, or $0.08 per diluted share for the third quarter of 2012 compared to $1.0 million or $0.11 per diluted share for the third quarter of 2011. For the nine months ended September 30, 2012, net income was $2.3 million or $0.24 per diluted share, compared to $1.5 million or $0.15 per diluted share for the nine months ended September 30, 2011. A reduction in the provision for loan and lease losses, due to continuing improvement in asset quality, contributed to the profitability for the quarter and on a year-to-date basis.
“The third quarter marked a new phase for our Company as we united our three bank names under the American River Bank brand; launched a multi-media marketing campaign; and introduced REACH Business Blueprint, a business analysis tool that is a clear differentiator for our bank,” said David Taber, President and CEO of American River Bankshares. “After more than a year of research, planning and restructuring, American River Bank is positioned like never before to dominate as the regional bank of choice for business owners that want a strong, stable partner that can offer exceptional client service combined with an elite level of business expertise.”
Taber continued, “While our team has put a considerable amount of effort into generating loan production, our actual loan growth has not reflected those efforts. We booked $13 million in new loan originations this quarter, compared to only $5 million in the third quarter of 2011, but payoffs continue to outpace new loan demand.”
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July 19 2012
American River Bankshares (NASDAQ-GS: AMRB) today reported that net income increased 282% to $845,000, or $0.09 per diluted share for the second quarter of 2012 compared to $221,000 or $0.02 per diluted share for the second quarter of 2011. For the six months ended June 30, 2012, net income was up 265% to $1.6 million or $0.16 per diluted share, compared to $427,000 or $0.04 per diluted share for the six months ended June 30, 2011. A reduction in the provision for loan and lease losses, due to improving asset quality, contributed to the profitability for the quarter.
"While we're pleased with our increase in earnings and core deposits, reversing the trend in decreasing loans outstanding is our top priority," said David Taber, President and CEO of American River Bankshares. "We've made a number of organizational changes to make sure we have the right people in position, including making strategic new hires, to build a quality loan pipeline."
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