April 19 2012
American River Bankshares (NASDAQ-GS: AMRB) today reported that net income increased 246% to $712,000, or $0.07 per diluted share for the first quarter of 2012 compared to $206,000 or $0.02 per diluted share for the first quarter of 2011. A reduction in the provision for loan and lease losses, due to improving asset quality, contributed to the profitability for the quarter.
"The ups and downs of the current economic cycle continue to reflect in our results," said David Taber, President and CEO of American River Bankshares. "Even though we are having success bringing in new business, as evidenced by an increase in core deposits over last quarter, loan payoffs are outpacing new demand." Taber continued, "As an organization, we're focused on activities that promote growth and efficiency, while keeping an eye towards progress with asset quality." Read More>>
January 26 2012
American River Bankshares (NASDAQ-GS: AMRB) today reported that net income increased 1,235.1% to $1.0 million, or $0.10 per diluted share for the fourth quarter of 2011 compared to $77,000 or $0.01 per diluted share for the fourth quarter of 2010. For the twelve months ended December 31, 2011, net income increased 426.1% to $2.5 million, or $0.25 per diluted share compared to $0.5 million or $0.05 per diluted share for the twelve months ended December 31, 2010. A reduction in the provision for loan and lease losses, due to improving asset quality, and lower expenses contributed to the profitability for both the quarter and the year.
"For the second quarter in a row, American River Bankshares has posted profits in excess of $1 million, which is a result of our focus on improving asset quality," said David Taber, President and CEO of American River Bankshares. "Our progress would not be possible without the hardworking and dedicated professional bankers at our Company." Read More>>
October 27 2011
American River Bankshares (NASDAQ-GS: AMRB) today reported net income of $1,049,000 or fully diluted earnings per share of $0.11 for the third quarter of 2011, compared to net income of $39,000 or $0.00 per diluted share for the third quarter of 2010. For the nine months ended September 30, 2011, net income was $1,476,000 or $0.15 per diluted share, compared to $399,000 or $0.04 per diluted share for the nine months ended September 30, 2010.
"American River Bankshares' focused strategy has led to a respectable increase in profits to $1 million or $0.11 per diluted share for the third quarter," said David Taber, President and CEO of American River Bankshares. "Our team's dedication to supporting client needs has resulted in an $11.3 million increase in checking and savings balances quarter over quarter." Read More>>
July 28 2011
American River Bankshares [NASDAQ-GS: AMRB] today reported net income of $221,000 or fully diluted earnings per share of $0.02 for the second quarter of 2011, compared to net income of $54,000 or $0.01 per diluted share for the second quarter of 2010. For the six months ended June 30, 2011, net income was $427,000 or $0.04 per diluted share, compared to $360,000 or $0.04 per diluted share for the six months ended June 30, 2010.
"American River Bankshares continues to make progress in executing our business plan," said David Taber, President and CEO of American River Bankshares. "We will continue to build our franchise through new relationship development while focusing on reducing our non-performing assets." Read More>>
