SANTA BARBARA, Calif.–(BUSINESS WIRE)– American Riviera Bank (OTC Markets: ARBV) announced unaudited net earnings
of $1,569,000 ($0.61 per share) for the year ended December 31, 2014, a.
12 % increase as compared with $1,401,000 ($0.55 per share) for the year.
ending December 31, 2013. Unaudited net incomeearnings for the quarter ending.
December 31, 2014 was $535,000 ($0.21 per share) versus $198,000 ($0.08.
per share) for the comparable quarter of 2013.
American Riviera Bank’s focus on structure relationships throughout the.
neighborhood has actually led to exceptional deposit growth. Typical deposits.
increased 22 % in 2014 compared to 2013 with overall deposits reaching $195.
million at December 31, 2014. Non-interest bearing demand deposits now.
represent 29 % of complete deposits or $57 million at December 31, 2014, a.
47 % boost from December 31, 2013.
The Bank saw strong loan demand in 2014 with typical loans at $157.
million, a 15 % increase from $136 million in 2013. The Bank increased.
industrial realproperty and building loans by a consolidated 26 % and saw.
increased requests for mortgage and business loans also. The.
aforementioned loan growth allowed the Bank to grow net interest income.
by 11 % in 2014 as compared to 2013.
Jeff DeVine, President and Chief Executive Officer, specified, “2014 was.
an exceptional year for the Bank and its customers. We significantly.
expanded our market share by growing deposits and loans, and as a result.
enhanced earnings significantly. It has actually been a satisfaction to partner with.
homeowners and businesses within the higher Santa Barbara area to.
offer an individual, versatile, and distinct brand of community banking.”.
American Riviera Bank has $225 million in total possessions, and keeps a.
strong capital position with Tier 1 Capital to end of month possessions of.
12 % since December 31, 2014; well above the regulatory guideline of 5 %.
for well capitalized organizations. For 2014, the Bank recorded a return.
on typicaltypically assets of 0.76 % and a return on typicalusually equity of 6.04 %. The.
book value of one share of American Riviera Bank stock is $10.41 at.
December 31, 2014, an increase from $9.83 at December 31, 2013.
American Riviera Bank is a full-service neighborhood bank concentrated on.
serving the lending and deposit needs of companies and consumers in.
Santa Barbara and surrounding neighborhoods. The state-chartered bank.
opened for company on July 18, 2006, with the support of 400 local.
investors. Workplaces are located at 1033 Anacapa Street in Santa.
Barbara and 525 San Ysidro Roadway in Montecito. For 2013, the Bank was.
called a “Premier Entertainer” by the Findley Reports. Since September 30,.
2014, the Bank was ranked 5 stars by BauerFinancial.
Statements worrying future performance, developments or events.
worrying expectations for growth and market forecasts, and other.
guidance on future periods, make up forward looking statements that.
undergo a variety of risks and uncertainties. Real outcomes may.
differ materially from mentioned expectations. Specific aspects consist of,.
however are not limited to, impacts of interest rate changes, ability to.
control costs and expenses, impact of consolidation in the banking.
industry, financial policies of the US government, and general financial.