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American Riviera Bank's blog

American Riviera Bank Reports Record Quarterly Net Income

American Riviera Bank (OTC Markets: ARBV) announced today unaudited net income of $1,768,000 ($0.35 per share) for the quarter ended March 31, 2019. This represents a 31% increase in net income from the $1,352,000 ($0.31 per share) for the same reporting period in the prior year. The annualized return on average assets of 1.19% and return on average equity of 11.90% represent an increase from the 1.09% and 10.27%, respectively, achieved for the same reporting period in the prior year.

Jeff DeVine, American Riviera Bank CEO named Executive of the Year

Santa Barbara, CA - The South Coast Business & Technology Awards Committee announced that Jeff DeVine, President and CEO of American Riviera Bank, will be named Executive of the Year for 2019 at their awards event on Tuesday, June 4th. The awards are heralded as an opportunity to join over 700 business leaders at the largest networking event on the South Coast with proceeds benefiting the Scholarship Foundation of Santa Barbara. The event honors and recognizes companies and individuals for their commitment to the local community and economy.  

American Riviera Bank Completes $8.5 Million Capital Raise

Santa Barbara, California – American Riviera Bank (OTC Markets: ARBV) (the “Bank”) announced today that it has completed a capital raise of $8.5 million through the sale of 472,222 shares of common stock at a price of $18.00 per share. The shares of common stock were sold to institutional and select “accredited investors” as defined in Rule 501(a) of Regulation D of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a stock permit issued by the California Department of Business Oversight and an exemption from the Securities Act. 

American Riviera Bank Brings Community Banking Back to Downtown San Luis Obispo

Left to Right: Jay Beck, Stephanie Marden, and Gary Tanner 

 

American Riviera Bank VP Ann Hansen Named a Top 20 Under 40 Professional in 2019 SLO Tribune Competition

Paso Robles, California -  Ann Hansen, Vice President, Commercial and Agribusiness Banking Officer for American Riviera Bank, has been selected as a winner of the San Luis Obispo Tribune's Top 20 Under 40 annual award that recognizes young San Luis Obispo County professionals who have shown professional excellence and a commitment to community service.

American Riviera Bank Reports over $600 Million in Assets

Santa Barbara, California – American Riviera Bank (OTC Markets: ARBV) announced today record unaudited net income of $5,890,000 ($1.32 per share) for the year ended December 31, 2018. This represents a 67% increase in net income from the $3,536,000 ($0.80 per share) for the same reporting period in the prior year. The annualized return on average assets of 1.03% and return on average equity of 10.19% represent an increase from the 0.73% and 6.61%, respectively, achieved for the same reporting period in the prior year.

American Riviera Bank Reports Record Quarterly Earnings

Santa Barbara, California (October 23, 2018) – American Riviera Bank (OTC Markets: ARBV) announced today unaudited net income of $4,398,000 ($0.99 per share) for the nine months ended September 30, 2018. This represents a 26% increase in net income from the $3,501,000 ($0.80 per share) for the same reporting period in the prior year. The annualized return on average assets of 1.06% and return on average equity of 10.38% represents an increase from the 0.99% and 8.92%, respectively, achieved for the same reporting period in the prior year.

American Riviera Bank Employees Volunteer with Habitat for Humanity Building Carpinteria Homes

CARPINTERIA, CA - American Riviera Bank employees enjoyed their time volunteering to help build new homes with Habitat for Humanity for three local families in need.

Habitat for Humanity of Southern Santa Barbara County is building an affordable home project. The new homes will house three families, including eight children. The three, three-bedroom townhomes are for low-income and very low-income residents.

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