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."