American River Bankshares (AMRB)

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American River Bankshares Reports Third Quarter 2014 Results

Sacramento, CA, October 16, 2014 – American River Bankshares (NASDAQ-GS: AMRB) today reported net income of $1.1million, or $0.14 per diluted share for the third quarter of 2014 compared to $893,000, or $0.10 per diluted share for the third quarter of 2013. For the nine months ended September 30, 2014, net income was $3.2 million or $0.39 per diluted share, compared to $2.2 million or $0.24 per diluted share for the nine months ended September 30, 2013.

“We are pleased with our 63% increase in earnings per share year over year,” said David Taber, President and CEO of American River Bankshares. “The signs of an improving economy were manifested in our solid growth of core deposits as our business clients continue to increase their liquidity. This has impacted their desire to borrow. We still have a tremendous amount to accomplish in leveraging our deposits, our people and our capital.”

Financial Highlights

•Nonperforming assets (“NPAs”) declined to $7.9 million, or 1.28% of total assets at September 30, 2014, compared to $9.5 million, or 1.60% of total assets at December 31, 2013, and $10.5 million, or 1.74% of total assets a year ago. Other real estate owned (“OREO”) decreased 21.4% to $5.2 million at September 30, 2014, compared to $6.6 million at December 31, 2013, and declined 7.5% compared to $5.6 million one year ago.

•The allowance for loan and lease losses was $5.5 million (2.16% of total loans and leases) at September 30, 2014, compared to $5.3 million (2.08% of total loans and leases) at December 31, 2013 and $5.6 million (2.18% of total loans and leases) one year ago. The allowance for loan and lease losses to nonperforming loans and leases increased to 301.5% at September 30, 2014, from 270.1% at December 31, 2013 and 114.9% one year ago.

•The Company’s subsidiary, American River Bank, remains above the well-capitalized regulatory guidelines. At September 30, 2014, American River Bank’s Leverage ratio was 11.8% compared to 11.9% at December 31, 2013 and 12.5% one year ago; the Tier 1 Risk Based Capital ratio was 21.7% compared to 22.0% at December 31, 2013 and 23.2%one year ago; and the Total Risk Based Capital ratio was 22.9% compared to 23.3% at December 31, 2013 and 24.4% one year ago.

•The third quarter 2014 net interest margin was 3.49%, down from 3.66% for the second quarter of 2014 and up from 3.44% for the third quarter of 2013.

•Shareholders’ equity was $88.2 million at September 30, 2014 compared to $87.0 million at December 31, 2013 and $89.8 million at September 30, 2013. Tangible book value per share was $8.88 at September 30, 2014 compared to $8.33 per share at December 31, 2013 and $8.31 per share at September 30, 2013. Book value per share was $10.90 per share at September 30, 2014 compared to $10.25 per share at December 31, 2013 and $10.16 per share from a year ago.

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https://www.americanriverbank.com/Press-Releases/News134/#.VFMVLk0tB9A

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