April 23 2018

1Q18Earnings

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January 26 2018

4Q17 Earnings

Sacramento, CA, January 25, 2018 – American River Bankshares (NASDAQ-GS: AMRB) today reported a net loss of $392,000, or ($0.06) per diluted share for the fourth quarter of 2017 compared to net income of $1.9 million, or $0.29 per diluted share for the fourth quarter of 2016. For the twelve months ended December 31, 2017, net income was $3.2 million or $0.50 per diluted share, compared to $6.4 million or $0.94 per diluted share for the twelve months ended December 31, 2016. During the fourth quarter of 2017, the Company recorded an income tax expense adjustment of $1.2 million related to the “H.R.1” commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”) that was signed into law on December 22, 2017. The adjustment relates to revaluing the Company’s net deferred tax assets using the new lower corporate federal income tax rate of 21% which becomes effective January 1, 2018, a reduction from the Company’s 2017 rate of 34%. In addition, the Company also recognized expenses totaling $676,000 related to the Company’s leadership change that was announced on October 27, 2017.

“The adjustment to income tax expense of $1.2 million, coupled with the expenses related to the leadership change resulted in a net loss for the quarter. However, our core or non-GAAP adjusted net income for the quarter was $1.2 million or $0.19 per common share when excluding these items,” says David E. Ritchie, Jr., President and Chief Executive Officer of the Company. “While the reduced tax rate resulted in lower net income for the current quarter, the Company will benefit from the lower rate going forward.” Read More

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October 24 2017

3Q17 Earnings

Sacramento, CA, October 19, 2017 – American River Bankshares (NASDAQ-GS: AMRB) today reported net income of $1.1 million, or $0.17 per diluted share for the third quarter of 2017 compared to $1.8 million, or $0.27 per diluted share for the third quarter of 2016.  For the nine months ended September 30, 2017, net income was $3.6 million or $0.55 per diluted share, compared to $4.5 million or $0.66 per diluted share for the nine months ended September 30, 2016. 

“We experienced positive growth in both loans and deposits this quarter.  The team continues to be active in growth activities.” said David Taber, President and CEO of American River Bankshares.  “The quarter, however, was marred by a loan charge-off.  The third quarter of 2016 included a reversal of $668,000 in our loan loss provision compared to an addition of $300,000 this quarter.  This $968,000 swing negatively impacted net income and EPS.”  Read More

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August 2 2017

Call Replay: 2Q17 Earnings

Sacramento, CA, July 20, 2017 – American River Bankshares (NASDAQ-GS: AMRB) today reported net income of $1.3 million, or $0.20 per diluted share for the second quarter of 2017 compared to $1.3 million, or $0.19 per diluted share for the second quarter of 2016.  For the six months ended June 30, 2017, net income was $2.5 million or $0.38 per diluted share, compared to $2.7 million or $0.39 per diluted share for the six months ended June 30, 2016. 

 “During the quarter we completed our 2017 Stock Repurchase Plan and continued our cash dividend program,” said David Taber, President and CEO of American River Bankshares.  “Compared to the same quarter last year, we had positive increases in loans, deposits, and Earnings Per Share.”  Taber continued, “We have a good deal of work to do in continuing to build momentum for our franchise.” Read More

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