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>>
May 19 2011
The Board of Directors of American River Bankshares announced the re-election of all eight Directors at their Annual Meeting held Thursday, May 19th in Rancho Cordova, California.
In his address to shareholders, David Taber, President and CEO of American River Bankshares, discussed the Company's performance and strategic direction.
"American River Bankshares' specialty approach to business banking clearly differentiates us in an increasingly homogeneous industry," said David Taber. "With 71% of our checking and money market deposits coming from businesses, we have a strategy that puts us in a class of our own with a model that is very difficult to duplicate."
