American Riviera Bancorp Announces Results for the First Quarter of 2025

SANTA BARBARA, Calif.--(BUSINESS WIRE)-- American Riviera Bancorp (“Company”) (OTCQX: ARBV), holding company of American Riviera Bank (“Bank”), announced today unaudited net income of $2.3 million ($0.40 per share) for the three months ended March 31, 2025, compared to $2.0 million ($0.35 per share) in the previous quarter, and $2.2 million ($0.37 per share) earned in the same reporting period in the previous year.

Total deposits were $1.13 billion at March 31, 2025, an increase of $85.5 million or 8.1% from March 31, 2024. At March 31, 2025, all deposits were “core deposits” from our clients, with no wholesale-funded certificates of deposit.

Jeff DeVine, President and CEO of the Company and the Bank, stated, “At March 31, 2025, the Bank’s balance sheet was completely funded by core deposits from loyal clients that appreciate our innovative banking products and personal service. Margins have improved from 2024, profitability is rising, and our shareholders have benefited from a double-digit increase in tangible book value per share in the last year. Our focus on supporting the communities we serve ensures enhanced shareholder return over time.”

First Quarter Highlights

• Total shareholders’ equity of $115.1 million at March 31, 2025, has increased $13.4 million or 13.2% from the same reporting period in the previous year.
• Tangible book value per share of $18.89 at March 31, 2025, has increased $2.27 or 13.7% from the same reporting period in the previous year.
• All Bank and Company capital ratios increased in the first quarter of 2025. The Bank’s regulatory capital ratios were all above “well-capitalized” standards. The Company’s tangible common equity ratio at March 31, 2025, was 8.58%, an increase from 7.61% at March 31, 2024.
• Total loans were $994.8 million at March 31, 2025, an increase of $4.8 million or 0.5% from the prior quarter-end, and an increase of $44.0 million or 4.6% from March 31, 2024. The Bank’s loan-to-deposit ratio at March 31, 2025, was 87.7%.
• Non-interest-bearing demand deposits were $445.5 million or 39.3% of total deposits at March 31, 2025. Total demand deposits were $562.0 million or 49.5% of total deposits at March 31, 2025.
• As a result of the continued favorable shift to core funding and the full quarter impact of deposit pricing changes made in the fourth quarter of 2024, total cost of funds decreased to 1.49% for the first quarter of 2025, compared to 1.63% in the prior quarter, and slightly better than 1.51% for the same quarter in the prior year.
• Net interest margin improved 29 basis points to 3.61% for the first quarter of 2025, compared to 3.32% in the prior quarter, and 3.34% for the same quarter in the prior year as a result of steady loan yield improvement and the recent decline in cost of funds.
• On-balance sheet liquidity continues to be substantial with $206.3 million of cash, due from banks, and available-for-sale (“AFS”) securities market value at March 31, 2025.
• Access to available sources of liquidity including fed funds lines of credit with correspondent banks, unused secured borrowing capacity with the Federal Home Loan Bank (“FHLB”), and unused secured borrowing capacity with the Federal Reserve totaled $453.7 million at March 31, 2025.
• At March 31, 2025, the Bank’s commercial real estate (“CRE”) portfolio is diverse, with only $82.7 million in the non-owner-occupied office category and weighted average loan-to-values of 30% to 54% depending on the individual CRE category. As of the most recent CRE stress test in January 2025, weighted average debt coverage ratios were between 1.69x and 4.11x depending on the individual CRE category.
• The Bank maintained strong credit quality with no other real estate owned, no loans 90 days or more past due and still accruing, and $4.8 million or 0.48% of total loans on non-accrual status, which are well supported by collateral, borrower assets, SBA guarantees, or specific reserves.

Earnings

For the first quarter of 2025, unaudited net income was $2.3 million, compared to $2.0 million reported in the fourth quarter of 2024, and $2.2 million reported in the first quarter of 2024. Unaudited net income pre-tax, pre-provision (non-GAAP) was $3.6 million in the first quarter of 2025, a notable increase from $3.3 million in the fourth quarter of 2024, and $3.0 million in the first quarter of 2024.

The Bank continues to grow interest and fees on loans sequentially over the last five quarters from $12.7 million in the first quarter of 2024 to $13.7 million in the first quarter of 2025, representing a $1.0 million or 8.1% increase.

Total interest expense has decreased from $4.8 million in the fourth quarter of 2024 to $4.2 million in the first quarter of 2025, a $0.6 million or 11.9% decrease. Total interest expense has notably declined over the last three quarters due to the favorable shift in funding mix and deposit rate reductions which followed the Federal Reserve’s actions in late 2024 to lower its target rate.

Net interest income pre-provision increased $0.5 million or 5.1% in the first quarter of 2025 compared to the fourth quarter of 2024 and increased $0.9 million or 9.0% compared to the first quarter of 2024.

Non-Interest Income and Expense

Total non-interest income was $0.8 million for the first quarter of 2025, the same as the prior quarter, and $0.9 million for the same quarter last year. The second quarter of 2024 non-interest income included a non-recurring $0.5 million pre-tax gain on the redemption of $1.5 million in subordinated debentures. Variances between the quarters can be attributed to SBA loan sale premiums, FHLB dividends, cash value life insurance income, mortgage broker fees, loan interest rate swap fees, and loan prepayment fees.

Total non-interest expense was $8.4 million for the first quarter of 2025, an increase from the $8.1 million reported for the prior quarter, and the $8.1 million reported for the same quarter of the prior year. The third and fourth quarters of 2024 benefited from reduced bonus accrual expense offset by non-recurring expenses related to check fraud. Conversely, the first quarter of 2025 benefited from partial check fraud recovery offset by normalized bonus accrual. Total non-interest expense for the first quarter of 2025 is up only $0.3 million or 3.8% versus the same quarter of the prior year due to our focus on cost control.

Loans and Asset Quality

Total loans were $994.8 million at March 31, 2025, an increase of $4.8 million or 0.5% from the prior quarter-end, and an increase of $44.0 million or 4.6% from March 31, 2024.

The Bank’s Allowance for Credit Losses (“ACL”) was $11.9 million at March 31, 2025, with a resulting coverage ratio of 1.19%, as compared to $11.6 million or 1.23% at March 31, 2024. As of March 31, 2025, non-accrual loans totaled $4.8 million, a $1.3 million decrease from the previous quarter-end, and a $4.2 million increase from the $0.6 million reported at March 31, 2024. The loans on non-accrual are well supported by collateral, borrower assets, SBA guarantees, or specific reserves.

Deposits & Borrowings

Total deposits were $1.13 billion at March 31, 2025, representing a $21.6 million or 1.9% increase from December 31, 2024, and an increase of $85.5 million or 8.1% from March 31, 2024. All deposit growth in the quarter was represented by core deposits, with no wholesale brokered funds at March 31, 2025.

Non-interest-bearing demand deposits totaled $445.5 million at March 31, 2025, an increase of $14.5 million or 3.4% from the prior quarter-end, and an increase of $29.9 million or 7.2% from March 31, 2024. Non-interest-bearing demand deposits represent 39.3% of total deposits at March 31, 2025, compared to 38.7% at the prior quarter-end, and 39.6% at March 31, 2024. Total demand deposits, including interest-bearing demand, represent 49.5% of total deposits at March 31, 2025, compared to 49.2% at the prior quarter-end, and 52.4% at March 31, 2024. Other interest-bearing deposits totaled $572.9 million at March 31, 2025, an increase of $7.6 million or 1.3% from the prior quarter-end, and an increase of $73.7 million or 14.8% from March 31, 2024.

The weighted average cost of deposits for the first quarter of 2025 decreased 19 basis points to 1.39%, compared to 1.58% for the previous quarter, and 1.09% for the same quarter last year. The decrease in the cost of deposits this quarter is related to the full quarter impact of reduced rates on interest-bearing demand, money market, and time deposits.

The Company’s total borrowings decreased to $26.5 million at March 31, 2025, from $41.5 million at December 31, 2024. At March 31, 2025, the Company had $10.0 million drawn on a correspondent bank line of credit at a rate of 3.85%, and $16.5 million of subordinated notes outstanding at a rate of 3.75%. The weighted average cost on all borrowings for the first quarter of 2025 was 3.81%, resulting in $0.4 million in interest expense on borrowings, a slight increase compared to the $0.3 million of borrowing expense for the previous quarter, and notably lower than the $1.5 million incurred for the same quarter last year.

As a result of the continued favorable shift to core funding and the full quarter impact of deposit pricing changes made in the fourth quarter of 2024, total cost of funds decreased 14 basis points to 1.49% for the first quarter of 2025, compared to 1.63% in the prior quarter. The Company’s net interest margin improved 29 basis points to 3.61% for the first quarter of 2025, compared to 3.32% in the prior quarter as a result of steady loan yield improvement and the recent decline in cost of funds.

The Bank’s liquidity position remained strong with a primary liquidity ratio (cash and cash equivalents, deposits held in other banks and unpledged AFS securities as a percentage of total assets) of 14.2% at March 31, 2025, compared to 13.7% at December 31, 2024. As of March 31, 2025, the Bank had available and unused, secured borrowing capacity with the FHLB of San Francisco of $273.0 million, and had available and unused, secured borrowing capacity with the Federal Reserve of $37.8 million. In addition, the Bank had $142.9 million of unused fed funds lines of credit with correspondent banks at March 31, 2025. Available contingent funding sources of $453.7 million remain robust.

Overall uninsured deposits, excluding public agency deposits that are collateralized, are conservatively estimated to be $397.6 million, or 35.6% of total deposit balances as of March 31, 2025. The actual level of uninsured deposits is lower than the percentage stated above, as our knowledgeable bankers have helped clients obtain more than $250,000 of FDIC insurance with vesting structures such as joint accounts, payable upon death accounts, and revocable trust accounts with multiple beneficiaries. In addition, the Bank can offer up to $50 million of FDIC pass-through insurance to clients via the IntraFi network Insured Cash Sweep (“ICS”) or Certificate of Deposit Account Registry Service (“CDARS”) products.

Shareholders’ Equity

Total shareholders’ equity was $115.1 million at March 31, 2025, a $3.7 million or 3.3% increase since December 31, 2024, and an increase of $13.4 million or 13.2% over the same period of the prior year. The tax adjusted unrealized loss on securities, which is a component of equity (accumulated other comprehensive income or “AOCI”), improved $1.6 million or 8.1% from $19.7 million at December 31, 2024, to $18.1 million at March 31, 2025. Additionally, negative AOCI has decreased $3.7 million or 17.0% from March 31, 2024 to March 31, 2025. The Bank fully expects to receive all principal when the investments mature. As of March 31, 2025, the Company had not repurchased any shares under the authorized share repurchase program. Subsequent to quarter-end, repurchases occurred covering 27,970 shares at a weighted average price of $18.13, leaving $4.5 million available for repurchase under the program.

Company Profile

American Riviera Bancorp (OTCQX: ARBV) is a registered bank holding company headquartered in Santa Barbara, California. American Riviera Bank, the 100% owned subsidiary of American Riviera Bancorp, is a full-service community bank focused on serving the lending and deposit needs of businesses and consumers on the Central Coast of California. The state-chartered bank opened for business on July 18, 2006, with the support of local shareholders. Full-service branches are located in Santa Barbara, Montecito, Goleta, Santa Maria, San Luis Obispo, Atascadero, and Paso Robles. The Bank provides commercial business, commercial real estate, residential mortgage, construction, and Small Business Administration lending services as well as convenient online and mobile technology. The Bank maintains a “5 Star - Superior” rating from Bauer Financial and for fourteen consecutive years, has been recognized for strong financial performance by the Findley Reports. The Bank was rated “Outstanding” by the Federal Deposit Insurance Corporation in 2023 for its performance under the Community Reinvestment Act. The Company was named to the “OTCQX Best 50” list for equal weighted share trading volume and total return in 2024.

Statements concerning future performance, developments or events concerning expectations for growth and market forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, effects 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 economic conditions.

American Riviera Bancorp and Subsidiaries
Balance Sheets (unaudited)
(dollars in thousands)
			March 31,				March 31,				One Year				One Year
				2025				2024			$ Change				% Change
Assets
	Cash & Due From Banks		$	30,525			$	33,029			$	(2,504	)		-8	%
	Available-for-sale securities			175,787				200,905				(25,118	)		-13	%
	Held-to-maturity securities, net			41,410				41,343				67			0	%
	Loans			994,788				950,820				43,968			5	%
	Allowance For Credit Losses			(11,859	)			(11,648	)			(211	)		2	%
	Net Loans			982,928				939,172				43,756			5	%
	Premise & Equipment			7,943				8,529				(586	)		-7	%
	Operating Lease Right-of-Use Asset			4,528				4,931				(403	)		-8	%
	Bank Owned Life Insurance			12,254				11,839				415			4	%
	Stock in Other Banks			6,786				6,699				87			1	%
	Goodwill and Other Intangibles			4,898				4,955				(57	)		-1	%
	Other Assets			21,725				24,828				(3,103	)		-12	%
Total Assets			$	1,288,784			$	1,276,230			$	12,554			1	%
Liabilities & Shareholders' Equity
	Non-interest-bearing Demand Deposits		$	445,533			$	415,648			$	29,885			7	%
	Interest-bearing Demand Deposits			116,425				134,532				(18,107	)		-13	%
	Other Interest-bearing Deposits			572,936				499,236				73,700			15	%
	Total Deposits			1,134,894				1,049,416				85,478			8	%
	Borrowed Funds			26,500				113,000				(86,500	)		-77	%
	Allowance for credit losses on off-balance sheet exposures			1,126				615				511			83	%
	Other Liabilities			11,158				11,504				(347	)		-3	%
	Total Liabilities			1,173,678				1,174,535				(857	)		0	%
	Common Stock			67,914				67,198				716			1	%
	Retained Earnings			65,334				56,357				8,977			16	%
	Other Capital			(18,142	)			(21,860	)			3,718			17	%
	Total Shareholders' Equity			115,106				101,695				13,411			13	%
Total Liabilities & Shareholders' Equity			$	1,288,784			$	1,276,230			$	12,554			1	%

American Riviera Bancorp and Subsidiaries
Balance Sheets (unaudited)
(dollars in thousands)
			March 31,				December 31,				September 30,				June 30,				March 31,
				2025				2024				2024				2024				2024
Assets
	Cash & Due From Banks		$	30,525			$	20,948			$	40,549			$	28,557			$	33,029
	Available-for-sale securities			175,787				178,082				188,173				189,514				200,905
	Held-to-maturity securities			41,410				41,393				41,377				41,360				41,343
	Loans			994,788				989,941				976,257				963,701				950,820
	Allowance for Credit Losses			(11,859	)			(11,572	)			(11,694	)			(11,694	)			(11,648	)
	Net Loans			982,928				978,369				964,563				952,008				939,172
	Premise & Equipment			7,943				8,221				8,477				8,527				8,529
	Operating Lease Right-of-Use Asset			4,528				4,841				5,153				4,636				4,931
	Bank Owned Life Insurance			12,254				12,131				12,027				11,930				11,839
	Stock in Other Banks			6,786				6,786				6,786				6,786				6,699
	Goodwill and Other Intangibles			4,898				4,911				4,939				4,956				4,955
	Other Assets			21,725				23,629				22,716				24,932				24,828
Total Assets			$	1,288,784			$	1,279,312			$	1,294,758			$	1,273,206			$	1,276,230
Liabilities & Shareholders' Equity
	Non-interest-bearing Demand Deposits		$	445,533			$	431,031			$	466,537			$	424,991			$	415,648
	Interest-bearing Demand Deposits			116,425				116,995				116,624				110,323				134,532
	Other Interest-bearing Deposits			572,936				565,312				549,601				532,656				499,236
	Total Deposits			1,134,894				1,113,338				1,132,762				1,067,970				1,049,416
	Borrowed Funds			26,500				41,500				36,500				86,500				113,000
	Allowance for credit losses on off-balance sheet exposures			1,126				1,052				649				649				615
	Other Liabilities			11,158				12,039				12,723				12,693				11,504
	Total Liabilities			1,173,678				1,167,929				1,182,634				1,167,812				1,174,535
	Common Stock			67,914				68,041				67,841				67,509				67,198
	Retained Earnings			65,334				63,012				60,901				58,812				56,357
	Other Capital			(18,142	)			(19,670	)			(16,617	)			(20,927	)			(21,860	)
	Total Shareholders' Equity			115,106				111,383				112,125				105,394				101,695
Total Liabilities & Shareholders' Equity			$	1,288,784			$	1,279,312			$	1,294,758			$	1,273,206			$	1,276,230

American Riviera Bancorp and Subsidiaries
Average Balance Sheets (unaudited)
(dollars in thousands)
				1Q 2025				4Q 2024				3Q 2024				2Q 2024				1Q 2024
			Average				Average				Average				Average				Average
Assets
	Cash & Due From Banks		$	28,207			$	49,181			$	36,917			$	33,015			$	25,101
	Available-for-sale securities			176,964				183,256				188,006				192,448				203,735
	Held-to-maturity securities			41,400				41,383				41,367				41,349				41,331
	Loans			988,262				980,848				965,895				957,353				948,498
	Allowance for Credit Losses			(11,575	)			(11,692	)			(11,694	)			(11,649	)			(11,648	)
	Net Loans			976,687				969,156				954,201				945,703				936,851
	Premise & Equipment			8,118				8,384				8,612				8,512				8,704
	Operating Lease Right-of-Use Asset			4,676				4,945				5,013				4,787				5,073
	Bank Owned Life Insurance			12,183				12,072				11,975				11,881				11,790
	Stock in Other Banks			6,786				6,786				6,786				6,770				6,699
	Goodwill and Other Intangibles			4,904				4,925				4,947				4,964				4,930
	Other Assets			21,895				22,926				23,290				24,450				25,153
Total Assets			$	1,281,818			$	1,303,014			$	1,281,113			$	1,273,878			$	1,269,365
Liabilities & Shareholders' Equity
	Non-interest-bearing Demand Deposits		$	435,938				452,802				441,631				417,509				425,184
	Interest-bearing Demand Deposits			113,411				113,218				114,737				118,367				123,047
	Other Interest-bearing Deposits			568,440				584,053				547,344				513,340				484,842
	Total Deposits			1,117,789				1,150,073				1,103,712				1,049,216				1,033,073
	Borrowed Funds			37,389				27,772				55,181				108,941				122,212
	Allowance for credit losses on off-balance sheet exposures			1,053				654				649				617				583
	Other Liabilities			12,363				13,126				13,535				12,413				12,628
	Total Liabilities			1,168,595				1,191,624				1,173,077				1,171,187				1,168,496
	Common Stock			68,169				68,057				67,676				67,342				67,304
	Retained Earnings			64,227				61,775				59,846				57,810				55,504
	Other Capital			(19,173	)			(18,442	)			(19,486	)			(22,461	)			(21,939	)
	Total Shareholders' Equity			113,223				111,390				108,036				102,691				100,869
Total Liabilities & Shareholders' Equity			$	1,281,818			$	1,303,014			$	1,281,113			$	1,273,878			$	1,269,365

American Riviera Bancorp and Subsidiaries
Statement of Income (unaudited)
(dollars in thousands, except per share data)
			Quarter Ended
			March 31,				March 31,
				2025				2024			Change
Interest Income
	Interest and Fees on Loans		$	13,698			$	12,672			8	%
	Interest on Securities			1,489				1,712			-13	%
	Interest on Due From Banks			162				153			6	%
	Total Interest Income			15,349				14,537			6	%
Interest Expense
	Interest Expense on Deposits			3,865				2,806			38	%
	Interest Expense on Borrowings			373				1,538			-76	%
	Total Interest Expense			4,238				4,344			-2	%
Net Interest Income				11,111				10,192			9	%
	Provision for Credit Losses			287				(2	)		-
	Provision for Off-Balance Sheet Credit Exposures			74				35			-112	%
Net Interest Income After Provision				10,750				10,159			6	%
Non-Interest Income
	Service Charges, Commissions and Fees			548				520			5	%
	Other Non-Interest Income			267				361			-26	%
	Total Non-Interest Income			815				881			-7	%
Non-Interest Expense
	Salaries and Employee Benefits			5,398				5,223			3	%
	Occupancy and Equipment			937				873			7	%
	Other Non-Interest Expense			2,037				1,971			3	%
	Total Non-Interest Expense			8,372				8,067			4	%
Net Income Before Provision for Taxes				3,193				2,973			7	%
Provision for Taxes				870				793			10	%
Net Income			$	2,323			$	2,180			7	%
	Shares Outstanding			5,833,247				5,820,150			0	%
	Earnings Per Share - Basic		$	0.40			$	0.37			6	%
	Return on Average Assets			0.74	%			0.69	%		7	%
	Return on Average Equity			8.39	%			8.65	%		-3	%
	Net Interest Margin			3.61	%			3.34	%		8	%

American Riviera Bancorp and Subsidiaries
Five Quarter Statements of Income (unaudited)
(dollars in thousands, except per share data)
			Three Months Ended
			March 31,				December 31,				September 30,				June 30,				March 31,
				2025				2024				2024				2024				2024
Interest Income
	Interest and Fees on Loans		$	13,698			$	13,426			$	13,395			$	13,043			$	12,672
	Interest on Securities			1,489				1,518				1,577				1,595				1,712
	Interest on Due From Banks			162				445				305				291				153
	Total Interest Income			15,349				15,389				15,277				14,928				14,537
Interest Expense
	Interest Expense on Deposits			3,865				4,555				4,225				3,534				2,806
	Interest Expense on Borrowings			373				258				624				1,370				1,538
	Total Interest Expense			4,238				4,813				4,849				4,903				4,344
Net Interest Income				11,111				10,576				10,428				10,025				10,192
	Provision for Credit Losses			287				(121	)			-				45				(2	)
	Provision for Off-Balance Sheet Credit Exposures			74				403				-				33				35
Net Interest Income After Provision				10,750				10,294				10,428				9,947				10,159
Non-Interest Income
	Service Charges, Commissions and Fees			548				530				606				731				520
	Other Non-Interest Income			267				299				272				805				361
	Total Non-Interest Income			815				828				878				1,536				881
Non-Interest Expense
	Salaries and Employee Benefits			5,398				4,705				4,965				5,104				5,223
	Occupancy and Equipment			937				981				978				894				873
	Other Non-Interest Expense			2,037				2,432				2,429				2,095				1,971
	Total Non-Interest Expense			8,372				8,118				8,372				8,093				8,067
Net Income Before Provision for Taxes				3,193				3,004				2,935				3,389				2,973
Provision for Taxes				870				986				845				934				793
Net Income			$	2,323			$	2,018			$	2,089			$	2,455			$	2,180
	Shares Outstanding			5,833,247				5,815,818				5,833,825				5,819,759				5,820,150
	Earnings Per Share - Basic		$	0.40			$	0.35			$	0.36			$	0.42			$	0.37
	Net Income pre-tax, pre-provision (Non-GAAP)		$	3,554			$	3,286			$	2,935			$	3,467			$	3,006

American Riviera Bancorp and Subsidiaries
Selected Financial Highlights (unaudited)
(dollars in thousands, except per share data)
			At or for the Three Months Ended
			March 31,				December 31,				September 30,				June 30,				March 31,
				2025				2024				2024				2024				2024
Income and performance ratios:
	Net Income		$	2,323			$	2,018			$	2,089			$	2,455			$	2,180
	Earnings per share - basic			0.40				0.35				0.36				0.42				0.37
	Return on average assets			0.74	%			0.62	%			0.65	%			0.77	%			0.69	%
	Return on average equity			8.39	%			7.27	%			7.73	%			9.57	%			8.65	%
	Loan yield			5.62	%			5.45	%			5.52	%			5.48	%			5.37	%
	Cost of funds			1.49	%			1.63	%			1.66	%			1.70	%			1.51	%
	Cost of deposits			1.39	%			1.58	%			1.52	%			1.35	%			1.09	%
	Net interest margin			3.61	%			3.32	%			3.33	%			3.24	%			3.34	%
	Efficiency ratio (b)			70.20	%			71.18	%			74.06	%			70.30	%			74.33	%
Balance Sheet ratios:
	Loan-to-deposit ratio			87.65	%			88.92	%			86.18	%			90.24	%			90.60	%
	Non-interest-bearing deposits / total deposits			39.26	%			38.72	%			41.19	%			39.79	%			39.61	%
	Demand deposits / total deposits			49.52	%			49.22	%			51.48	%			50.12	%			52.43	%
Asset quality:
	Allowance for credit losses		$	11,859			$	11,572			$	11,694			$	11,694			$	11,648
	Nonperforming assets			4,799				6,098				521				614				631
	Allowance for credit losses / total loans and leases			1.19	%			1.17	%			1.20	%			1.21	%			1.23	%
	Net charge-offs / average loans and leases (annualized)			0.00	%			0.00	%			0.00	%			0.00	%			0.00	%
	Texas ratio (a)			4.87	%			5.47	%			0.54	%			0.69	%			0.74	%
Capital ratios for American Riviera Bank (c):
	Tier 1 risk-based capital			13.34	%			13.21	%			12.93	%			12.85	%			12.76	%
	Total risk-based capital			14.51	%			14.36	%			14.05	%			13.99	%			13.90	%
	Tier 1 leverage ratio			11.55	%			11.17	%			11.15	%			11.00	%			10.82	%
Capital ratios for American Riviera Bancorp (c):
	Tier 1 risk-based capital			11.61	%			11.49	%			11.24	%			11.17	%			11.07	%
	Total risk-based capital			14.17	%			14.05	%			13.80	%			13.77	%			13.84	%
	Tier 1 leverage ratio			9.89	%			9.72	%			9.70	%			9.56	%			9.39	%
	Tangible common equity ratio			8.58	%			8.35	%			8.31	%			7.92	%			7.61	%
Equity and share related:
	Common equity		$	115,106			$	111,383			$	112,125			$	105,394			$	101,695
	Book value per share			19.73				19.15				19.22				18.11				17.47
	Tangible book value per share			18.89				18.31				18.37				17.26				16.62
	Tangible book value per share, excluding AOCI (d)			22.00				21.69				21.22				20.85				20.38
	Stock closing price per share			19.16				20.00				19.40				16.60				15.96
	Number of shares issued and outstanding			5,833.25				5,815.82				5,833.83				5,819.76				5,820.15

Notes:
	(a) The sum of Nonperforming assets and Other Real Estate Owned, divided by the sum of Total Shareholder Equity and Total Allowance for Credit Losses (less Preferred Stock and Intangible Assets).
	(b) Annualized Operating Expense excluding Provision for Credit Losses minus Annualized Extraordinary Expense, divided by Annualized Interest Income including Loan Fees minus Annualized Interest Expense plus Annualized Non-Interest Income minus Annualized Extraordinary Income, expressed as a percentage.
	(c) Current period capital ratios are preliminary.
	(d) Accumulated Other Comprehensive Income (AOCI) is comprised of the tax adjusted unrealized loss on securities and is presented as Other Capital on the Balance Sheet.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20250423382502/en/

American Riviera Bank

www.americanriviera.bank

805-965-5942

Michelle Martinich

Source: American Riviera Bancorp