American Riviera - ARBV STOCK NEWS

American Riviera Bancorp (OTCQX: ARBV) reported unaudited net income of $8.7 million ($1.50 per share) for 2024, down from $10.5 million ($1.82 per share) in 2023. Fourth quarter 2024 net income was $2.0 million ($0.35 per share), compared to $2.1 million in Q3 2024.

Total deposits reached $1.11 billion, increasing 6.1% year-over-year. The bank maintains strong liquidity with $199.0 million in cash and securities, and $455.4 million in available funding sources. Loan portfolio grew 4.6% to $989.9 million, with a loan-to-deposit ratio of 88.9%.

Notable metrics include non-interest-bearing deposits at 38.7% of total deposits, improved cost of funds at 1.63% in Q4 2024, and total shareholders' equity of $111.4 million, up 10.7% year-over-year. The bank's tangible book value per share increased 10.4% to $18.31.

American Riviera Bancorp (ARBV) reported unaudited net income of $6.7 million ($1.15 per share) for the nine months ended September 30, 2024, down from $8.3 million ($1.44 per share) in the same period last year. Third quarter 2024 net income was $2.1 million ($0.36 per share), compared to $2.5 million in the previous quarter. Total deposits increased 6.1% to $1.13 billion, while total loans grew 1.3% to $976.3 million. The bank's cost of funds decreased to 1.66% in Q3 2024 from 1.70% in Q2, though higher than 1.06% year-over-year. Shareholders' equity increased 21.4% year-over-year to $112.1 million.

American Riviera Bancorp (OTCQX: ARBV) reported unaudited net income of $4.6 million ($0.80 per share) for the six months ended June 30, 2024, compared to $5.7 million ($0.98 per share) in the same period last year. For Q2 2024, net income was $2.5 million ($0.42 per share), up from $2.2 million in Q1 2024 but down from $2.7 million in Q2 2023.

Key highlights include:

• Total loans increased 1.4% to $963.7 million
• Total deposits grew 1.8% to $1.07 billion
• Shareholders' equity rose 3.6% to $105.4 million
• Tangible book value per share increased 3.9% to $17.26
• Non-interest-bearing deposits represent 39.8% of total deposits
• Cost of deposits increased to 1.35% in Q2 2024

The bank maintains strong liquidity and capital ratios, with a diverse loan portfolio and excellent credit quality. However, increased interest expenses have impacted earnings compared to the previous year.

American Riviera Bancorp (OTCQX: ARBV), the holding company of American Riviera Bank, announced a share repurchase program worth up to $5 million, representing about 5% of its outstanding shares. The company's Board of Directors approved this action, demonstrating confidence in its financial health and commitment to shareholder value. Jeff DeVine, President & CEO, emphasized that the buyback is anticipated to boost earnings per share and book value per share. Repurchases will be funded through available working capital and operational cash flow. The program has no set expiration date and may be adjusted based on various factors including market conditions and trading volume. American Riviera Bank operates several branches in California and has been recognized for its strong financial performance and community reinvestment.

American Riviera Bancorp announced unaudited net income of $2.2 million for Q1 2024, with stable earnings despite the high-rate environment. The Bank received top ratings for financial performance and maintained strong credit quality. Total shareholders' equity increased by 11.1% from the previous year. The Bank's regulatory capital ratios exceed 'well-capitalized' standards, with total loans and deposits showing positive trends.

American Riviera Bancorp (ARBV) reported unaudited net income of $10.5 million for the year ended December 31, 2023, compared to $13.5 million in the previous year. The company's net income for the fourth quarter of 2023 was $2.2 million, impacted by repositioning lower-yielding securities. Total shareholders’ equity increased by 15.5% from the prior year-end. The Bank's regulatory capital ratios were all above 'well-capitalized' standards. However, the decrease in total deposits and the increase in total interest expense are areas of concern.

American Riviera Bancorp announces unaudited net income of $8.3 million for the nine months ended September 30, 2023, compared to $9.5 million in the same period last year. Core deposits increased $19 million this quarter. The Bank's loan-to-deposit ratio is 85.4%. Non-interest-bearing demand deposits represent 41.6% of total deposits. Total loans decreased by $4.3 million from the previous quarter. The Bank's regulatory capital ratios are above 'well-capitalized' standards.

American Riviera Bancorp has reported unaudited net income of $5.7 million for the six months ended June 30, 2023, consistent with the previous year. The bank experienced stable deposit levels and increased capital ratios. Total loans reached $945.4 million, an increase of $20.6 million from the previous quarter. Non-interest-bearing demand deposits decreased by $18.6 million, while interest-bearing deposits increased by $1.4 million. The Bank opened 802 new deposit accounts in the second quarter of 2023. The Bank's regulatory capital ratios were all above 'well-capitalized' standards.