American Riviera Bancorp Announces Results for the Fourth Quarter of 2024
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 (OTCQX: ARBV) ha riportato un reddito netto non verificato di 8,7 milioni di dollari (1,50 dollari per azione) per il 2024, in calo rispetto ai 10,5 milioni di dollari (1,82 dollari per azione) del 2023. Il reddito netto del quarto trimestre 2024 è stato di 2,0 milioni di dollari (0,35 dollari per azione), rispetto a 2,1 milioni di dollari nel terzo trimestre 2024.
I depositi totali hanno raggiunto 1,11 miliardi di dollari, con un incremento del 6,1% rispetto all'anno precedente. La banca mantiene una forte liquidità con 199,0 milioni di dollari in contante e titoli, e 455,4 milioni di dollari in fonti di finanziamento disponibili. Il portafoglio prestiti è cresciuto del 4,6% fino a 989,9 milioni di dollari, con un rapporto prestiti/depositi dell'88,9%.
Metriche significative includono depositi non fruttiferi al 38,7% dei depositi totali, un costo dei fondi migliorato all'1,63% nel Q4 2024, e un patrimonio netto totale di 111,4 milioni di dollari, in aumento del 10,7% su base annua. Il valore contabile tangibile per azione della banca è aumentato del 10,4% fino a 18,31 dollari.
American Riviera Bancorp (OTCQX: ARBV) reportó un ingreso neto no auditado de 8.7 millones de dólares (1.50 dólares por acción) para 2024, en comparación con 10.5 millones de dólares (1.82 dólares por acción) en 2023. El ingreso neto del cuarto trimestre de 2024 fue de 2.0 millones de dólares (0.35 dólares por acción), en comparación con 2.1 millones de dólares en el tercer trimestre de 2024.
Los depósitos totales alcanzaron 1.11 mil millones de dólares, aumentando un 6.1% interanual. El banco mantiene una fuerte liquidez con 199.0 millones de dólares en efectivo y valores, y 455.4 millones de dólares en fuentes de financiamiento disponibles. La cartera de préstamos creció un 4.6% hasta 989.9 millones de dólares, con una relación préstamos/depositos del 88.9%.
Métricas notables incluyen depósitos no remunerados al 38.7% de los depósitos totales, un costo de fondos mejorado del 1.63% en el Q4 2024, y un patrimonio total de los accionistas de 111.4 millones de dólares, lo que representa un aumento del 10.7% interanual. El valor contable tangible por acción del banco aumentó un 10.4% hasta 18.31 dólares.
American Riviera Bancorp (OTCQX: ARBV)는 2024년 감사를 받지 않은 순이익이 870만 달러(주당 1.50 달러)로 2023년의 1,050만 달러(주당 1.82 달러)에서 감소했다고 보고했습니다. 2024년 4분기의 순이익은 200만 달러(주당 0.35 달러)로, 2024년 3분기의 210만 달러와 비교됩니다.
총 예금은 11억 1,000만 달러에 도달하여 전년 대비 6.1% 증가했습니다. 은행은 1억 9,900만 달러의 현금 및 유가증권, 4억 5,540만 달러의 이용 가능한 자금으로 강력한 유동성을 유지하고 있습니다. 대출 포트폴리오는 4.6% 증가하여 9억 8,990만 달러에 이르렀으며, 대출대비예금비율은 88.9%입니다.
주요 지표로는 총 예금의 38.7%를 차지하는 비이자성 예금, 2024년 4분기 자금 비용이 1.63%로 개선된 점, 그리고 총 주주 지분이 1억 1,140만 달러로 전년 대비 10.7% 증가한 점이 있습니다. 은행의 주당 순자산 가치는 10.4% 증가하여 18.31 달러가 되었습니다.
American Riviera Bancorp (OTCQX: ARBV) a annoncé un revenu net non vérifié de 8,7 millions de dollars (1,50 dollar par action) pour 2024, en baisse par rapport à 10,5 millions de dollars (1,82 dollar par action) en 2023. Le revenu net du quatrième trimestre 2024 était de 2,0 millions de dollars (0,35 dollar par action), contre 2,1 millions de dollars au T3 2024.
Les dépôts totaux ont atteint 1,11 milliard de dollars, en hausse de 6,1 % par rapport à l'année précédente. La banque maintient une forte liquidité avec 199,0 millions de dollars en espèces et titres, et 455,4 millions de dollars en sources de financement disponibles. Le portefeuille de prêts a augmenté de 4,6 % pour atteindre 989,9 millions de dollars, avec un ratio prêt/dépôt de 88,9 %.
Les indicateurs notables comprennent des dépôts non rémunérés représentant 38,7 % des dépôts totaux, un coût des fonds amélioré à 1,63 % au T4 2024, et un capital social total de 111,4 millions de dollars, en hausse de 10,7 % par rapport à l'année précédente. La valeur comptable tangible par action de la banque a augmenté de 10,4 % pour atteindre 18,31 dollars.
American Riviera Bancorp (OTCQX: ARBV) meldete einen nicht testierten Nettogewinn von 8,7 Millionen Dollar (1,50 Dollar pro Aktie) für 2024, was einem Rückgang von 10,5 Millionen Dollar (1,82 Dollar pro Aktie) im Jahr 2023 entspricht. Der Nettogewinn im vierten Quartal 2024 betrug 2,0 Millionen Dollar (0,35 Dollar pro Aktie) im Vergleich zu 2,1 Millionen Dollar im dritten Quartal 2024.
Die Gesamteinlagen beliefen sich auf 1,11 Milliarden Dollar und stiegen um 6,1 % im Jahresvergleich. Die Bank verfügt über eine starke Liquidität mit 199,0 Millionen Dollar in Bargeld und Wertpapieren sowie 455,4 Millionen Dollar an verfügbaren Finanzierungsquellen. Das Kreditportfolio wuchs um 4,6 % auf 989,9 Millionen Dollar, mit einem Verhältnis von Krediten zu Einlagen von 88,9 %.
Bemerkenswerte Kennzahlen sind nicht verzinsliche Einlagen, die 38,7 % der Gesamteinlagen ausmachen, verbesserte Finanzierungskosten von 1,63 % im Q4 2024 und ein Gesamteigenkapital von 111,4 Millionen Dollar, was einem Anstieg von 10,7 % im Jahresvergleich entspricht. Der tangible Buchwert pro Aktie der Bank stieg um 10,4 % auf 18,31 Dollar.
- Core deposits increased by $63.7 million (6.1%) year-over-year
- Total loans grew by $43.5 million (4.6%) year-over-year
- Shareholders' equity increased by $10.7 million (10.7%) year-over-year
- Strong liquidity position with $455.4 million in available funding sources
- Tangible book value per share increased 10.4% to $18.31
- Net income decreased from $10.5 million in 2023 to $8.7 million in 2024
- Non-interest-bearing deposits decreased by $12.0 million (2.7%) year-over-year
- Cost of funds increased to 1.63% from 1.23% year-over-year
- Non-accrual loans increased to $6.1 million from $0.6 million year-over-year
Total deposits were
Jeff DeVine, President and CEO of the Company and the Bank, stated, “The growth in our local deposits is a testament to our dedication to provide high-quality, relationship-based services and response to the needs of our community. Our
Fourth Quarter Highlights
- The Company was recognized by OTC Markets with the “OTCQX Best 50” distinction for equal weighted share trading volume and total return in 2024.
- The Bank has the highest “Super Premier” rating for financial performance from the Findley Reports and maintained a “5 Star - Superior” rating from Bauer Financial as of September 30, 2024.
-
Total shareholders’ equity of
$111.4 million $10.7 million 10.7% from the same reporting period in the previous year. -
Tangible book value per share of
$18.31 $1.72 10.4% from the same reporting period in the previous year. -
All Bank and Company capital ratios increased in the fourth quarter of 2024. The Bank’s regulatory capital ratios were all above “well-capitalized” standards. The Company’s tangible common equity ratio at December 31, 2024 was
8.35% , an increase from7.60% at December 31, 2023. -
Total loans were
$989.9 million $13.7 million 1.4% from the prior quarter-end, and an increase of$43.5 million 4.6% from December 31, 2023. The Bank’s loan-to-deposit ratio at December 31, 2024, was88.9% . -
Non-interest-bearing demand deposits were
$431.0 million 38.7% of total deposits at December 31, 2024. Total demand deposits were$548.0 million 49.2% of total deposits at December 31, 2024. -
Increased average core deposits in the fourth quarter of 2024 allowed the Bank to significantly reduce average wholesale-funded certificates of deposit and Federal Home Loan Bank (“FHLB”) advances. As a result of the favorable shift in funding mix, total cost of funds decreased to
1.63% for the fourth quarter of 2024, compared to1.66% in the prior quarter, yet remain higher than the1.23% for the same quarter in the prior year. Overall funding costs for the Company have increased from prior year due to Federal Reserve policy, but remain modest compared to industry averages based on our relationship banking focus and high percentage of demand deposits. -
On-balance sheet liquidity continues to be substantial with
$199.0 million -
Access to available sources of liquidity including fed funds lines of credit with correspondent banks, unused secured borrowing capacity with the FHLB, and unused secured borrowing capacity with the Federal Reserve totaled
$455.4 million -
At December 31, 2024, the Bank’s commercial real estate (“CRE”) portfolio is diverse, with only
$83.3 million 30% to54% depending on the individual CRE category. As of the most recent CRE stress test in July 2024, weighted average debt coverage ratios were between 1.86 and 3.16 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
$6.1 million 0.62% of total loans on non-accrual status, which are well supported by collateral, borrower assets, SBA guarantees, or specific reserves.
Earnings
For the fourth quarter of 2024, unaudited net income was
The Bank continues to grow interest and fees on loans sequentially over the last four quarters from
Non-Interest Income and Expense
Total non-interest income was
Total non-interest expense was
Loans and Asset Quality
Total loans were
The Bank’s Allowance for Credit Losses (“ACL”) was
Deposits & Borrowings
Total deposits were
Non-interest-bearing demand deposits totaled
Interest-bearing demand deposits totaled
Other interest-bearing deposits totaled
The weighted average cost of deposits for the fourth quarter of 2024 was
As a result of increased core deposits, the Bank was able to reduce more expensive wholesale-funded certificates of deposit to zero from the
The Bank’s total borrowings increased slightly to
As a result of the increased core deposits and decreased use of non-core wholesale funding, the Company was able to reduce overall cost of funds to
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
Overall uninsured deposits, excluding public agency deposits that are collateralized, are conservatively estimated to be
Shareholders’ Equity
Total shareholders’ equity was
Company Profile
American Riviera Bancorp (OTCQX: ARBV) is a registered bank holding company headquartered in
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) | |||||||||||||||
December 31, |
December 31, |
One Year |
One Year |
||||||||||||
2024 |
2023 |
$ Change |
% Change |
||||||||||||
| Assets | |||||||||||||||
| Cash & Due From Banks | $ |
20,948 |
|
$ |
19,683 |
|
$ |
1,265 |
|
6 |
% |
||||
| Available-for-sale securities |
|
178,082 |
|
|
207,271 |
|
|
(29,189 |
) |
-14 |
% |
||||
| Held-to-maturity securities, net |
|
41,393 |
|
|
41,326 |
|
|
67 |
|
0 |
% |
||||
| Loans |
|
989,941 |
|
|
946,411 |
|
|
43,530 |
|
5 |
% |
||||
| Allowance For Credit Losses |
|
(11,572 |
) |
|
(11,648 |
) |
|
76 |
|
-1 |
% |
||||
| Net Loans |
|
978,369 |
|
|
934,763 |
|
|
43,606 |
|
5 |
% |
||||
| Premise & Equipment |
|
8,221 |
|
|
8,801 |
|
|
(580 |
) |
-7 |
% |
||||
| Operating Lease Right-of-Use Asset |
|
4,841 |
|
|
5,193 |
|
|
(352 |
) |
-7 |
% |
||||
| Bank Owned Life Insurance |
|
12,131 |
|
|
11,738 |
|
|
393 |
|
3 |
% |
||||
| Stock in Other Banks |
|
6,786 |
|
|
6,699 |
|
|
87 |
|
1 |
% |
||||
| Goodwill and Other Intangibles |
|
4,911 |
|
|
4,930 |
|
|
(19 |
) |
0 |
% |
||||
| Other Assets |
|
23,629 |
|
|
24,632 |
|
|
(1,003 |
) |
-4 |
% |
||||
| Total Assets | $ |
1,279,312 |
|
$ |
1,265,036 |
|
$ |
14,276 |
|
1 |
% |
||||
| Liabilities & Shareholders' Equity | |||||||||||||||
| Non-interest-bearing Demand Deposits | $ |
431,031 |
|
$ |
443,070 |
|
$ |
(12,039 |
) |
-3 |
% |
||||
| Interest-bearing Demand Deposits |
|
116,996 |
|
|
123,686 |
|
|
(6,690 |
) |
-5 |
% |
||||
| Other Interest-bearing Deposits |
|
565,312 |
|
|
482,926 |
|
|
82,386 |
|
17 |
% |
||||
| Total Deposits |
|
1,113,338 |
|
|
1,049,682 |
|
|
63,656 |
|
6 |
% |
||||
| Borrowed Funds |
|
41,500 |
|
|
103,000 |
|
|
(61,500 |
) |
-60 |
% |
||||
| Other Liabilities |
|
13,091 |
|
|
11,715 |
|
|
1,376 |
|
12 |
% |
||||
| Total Liabilities |
|
1,167,929 |
|
|
1,164,397 |
|
|
3,532 |
|
0 |
% |
||||
| Common Stock |
|
68,134 |
|
|
67,388 |
|
|
746 |
|
1 |
% |
||||
| Retained Earnings |
|
62,919 |
|
|
54,177 |
|
|
8,742 |
|
16 |
% |
||||
| Other Capital |
|
(19,670 |
) |
|
(20,926 |
) |
|
1,256 |
|
6 |
% |
||||
| Total Shareholders' Equity |
|
111,383 |
|
|
100,639 |
|
|
10,744 |
|
11 |
% |
||||
| Total Liabilities & Shareholders' Equity | $ |
1,279,312 |
|
$ |
1,265,036 |
|
$ |
14,276 |
|
1 |
% |
||||
| American Riviera Bancorp and Subsidiaries | ||||||||||||||||||||
| Balance Sheets (unaudited) | ||||||||||||||||||||
| (dollars in thousands) | ||||||||||||||||||||
December 31, |
September 30, |
June 30, |
March 31, |
December 31, |
||||||||||||||||
2024 |
2024 |
2024 |
2024 |
2023 |
||||||||||||||||
| Assets | ||||||||||||||||||||
| Cash & Due From Banks | $ |
20,948 |
|
$ |
40,549 |
|
$ |
28,557 |
|
$ |
33,029 |
|
$ |
19,683 |
|
|||||
| Available-for-sale securities |
|
178,082 |
|
|
188,173 |
|
|
189,514 |
|
|
200,905 |
|
|
207,271 |
|
|||||
| Held-to-maturity securities |
|
41,393 |
|
|
41,377 |
|
|
41,360 |
|
|
41,343 |
|
|
41,326 |
|
|||||
| Loans |
|
989,941 |
|
|
976,257 |
|
|
963,701 |
|
|
950,820 |
|
|
946,411 |
|
|||||
| Allowance for Credit Losses |
|
(11,572 |
) |
|
(11,694 |
) |
|
(11,694 |
) |
|
(11,648 |
) |
|
(11,648 |
) |
|||||
| Net Loans |
|
978,369 |
|
|
964,563 |
|
|
952,008 |
|
|
939,172 |
|
|
934,763 |
|
|||||
| Premise & Equipment |
|
8,221 |
|
|
8,477 |
|
|
8,527 |
|
|
8,529 |
|
|
8,801 |
|
|||||
| Operating Lease Right-of-Use Asset |
|
4,841 |
|
|
5,153 |
|
|
4,636 |
|
|
4,931 |
|
|
5,193 |
|
|||||
| Bank Owned Life Insurance |
|
12,131 |
|
|
12,027 |
|
|
11,930 |
|
|
11,839 |
|
|
11,738 |
|
|||||
| Stock in Other Banks |
|
6,786 |
|
|
6,786 |
|
|
6,786 |
|
|
6,699 |
|
|
6,699 |
|
|||||
| Goodwill and Other Intangibles |
|
4,911 |
|
|
4,939 |
|
|
4,956 |
|
|
4,955 |
|
|
4,930 |
|
|||||
| Other Assets |
|
23,629 |
|
|
22,716 |
|
|
24,932 |
|
|
24,828 |
|
|
24,632 |
|
|||||
| Total Assets | $ |
1,279,312 |
|
$ |
1,294,758 |
|
$ |
1,273,206 |
|
$ |
1,276,230 |
|
$ |
1,265,036 |
|
|||||
| Liabilities & Shareholders' Equity | ||||||||||||||||||||
| Non-interest-bearing Demand Deposits | $ |
431,031 |
|
$ |
466,537 |
|
$ |
424,991 |
|
$ |
415,648 |
|
$ |
443,070 |
|
|||||
| Interest-bearing Demand Deposits |
|
116,996 |
|
|
116,624 |
|
|
110,323 |
|
|
134,532 |
|
|
123,686 |
|
|||||
| Other Interest-bearing Deposits |
|
565,312 |
|
|
549,601 |
|
|
532,656 |
|
|
499,236 |
|
|
482,926 |
|
|||||
| Total Deposits |
|
1,113,338 |
|
|
1,132,762 |
|
|
1,067,970 |
|
|
1,049,416 |
|
|
1,049,682 |
|
|||||
| Borrowed Funds |
|
41,500 |
|
|
36,500 |
|
|
86,500 |
|
|
113,000 |
|
|
103,000 |
|
|||||
| Other Liabilities |
|
13,091 |
|
|
13,372 |
|
|
13,342 |
|
|
12,120 |
|
|
11,715 |
|
|||||
| Total Liabilities |
|
1,167,929 |
|
|
1,182,634 |
|
|
1,167,812 |
|
|
1,174,535 |
|
|
1,164,397 |
|
|||||
| Common Stock |
|
68,134 |
|
|
67,841 |
|
|
67,509 |
|
|
67,198 |
|
|
67,388 |
|
|||||
| Retained Earnings |
|
62,919 |
|
|
60,901 |
|
|
58,812 |
|
|
56,357 |
|
|
54,177 |
|
|||||
| Other Capital |
|
(19,670 |
) |
|
(16,617 |
) |
|
(20,927 |
) |
|
(21,860 |
) |
|
(20,926 |
) |
|||||
| Total Shareholders' Equity |
|
111,383 |
|
|
112,125 |
|
|
105,394 |
|
|
101,695 |
|
|
100,639 |
|
|||||
| Total Liabilities & Shareholders' Equity | $ |
1,279,312 |
|
$ |
1,294,758 |
|
$ |
1,273,206 |
|
$ |
1,276,230 |
|
$ |
1,265,036 |
|
|||||
| American Riviera Bancorp and Subsidiaries | ||||||||||||||||||||||
| Statement of Income (unaudited) | ||||||||||||||||||||||
| (dollars in thousands, except per share data) | ||||||||||||||||||||||
Quarter Ended |
|
Twelve Months Ended |
||||||||||||||||||||
December 31, |
|
December 31, |
|
|
|
December 31, |
|
December 31, |
|
|
||||||||||||
2024 |
|
2023 |
|
Change |
|
2024 |
|
2023 |
|
Change |
||||||||||||
| Interest Income | ||||||||||||||||||||||
| Interest and Fees on Loans | $ |
13,426 |
|
$ |
12,557 |
|
7 |
% |
$ |
52,536 |
|
$ |
47,686 |
|
10 |
% |
||||||
| Interest on Securities |
|
1,518 |
|
|
1,751 |
|
-13 |
% |
|
6,401 |
|
|
6,940 |
|
-8 |
% |
||||||
| Interest on Due From Banks |
|
445 |
|
|
293 |
|
52 |
% |
|
1,194 |
|
|
1,055 |
|
13 |
% |
||||||
| Total Interest Income |
|
15,389 |
|
|
14,601 |
|
5 |
% |
|
60,131 |
|
|
55,681 |
|
8 |
% |
||||||
| Interest Expense | ||||||||||||||||||||||
| Interest Expense on Deposits |
|
4,555 |
|
|
2,735 |
|
67 |
% |
|
15,120 |
|
|
8,488 |
|
78 |
% |
||||||
| Interest Expense on Borrowings |
|
258 |
|
|
863 |
|
-70 |
% |
|
3,791 |
|
|
2,907 |
|
30 |
% |
||||||
| Total Interest Expense |
|
4,813 |
|
|
3,598 |
|
34 |
% |
|
18,911 |
|
|
11,395 |
|
66 |
% |
||||||
| Net Interest Income |
|
10,576 |
|
|
11,003 |
|
-4 |
% |
|
41,221 |
|
|
44,286 |
|
-7 |
% |
||||||
| Provision for Credit Losses |
|
282 |
|
|
- |
|
0 |
% |
|
393 |
|
|
171 |
|
130 |
% |
||||||
| Net Interest Income After Provision |
|
10,294 |
|
|
11,003 |
|
-6 |
% |
|
40,828 |
|
|
44,115 |
|
-7 |
% |
||||||
| Non-Interest Income | ||||||||||||||||||||||
| Service Charges, Commissions and Fees |
|
530 |
|
|
525 |
|
1 |
% |
|
2,387 |
|
|
2,219 |
|
8 |
% |
||||||
| Other Non-Interest Income |
|
299 |
|
|
(257 |
) |
-216 |
% |
|
1,736 |
|
|
257 |
|
576 |
% |
||||||
| Total Non-Interest Income |
|
828 |
|
|
268 |
|
209 |
% |
|
4,123 |
|
|
2,476 |
|
67 |
% |
||||||
| Non-Interest Expense | ||||||||||||||||||||||
| Salaries and Employee Benefits |
|
4,705 |
|
|
4,838 |
|
-3 |
% |
|
19,997 |
|
|
18,966 |
|
5 |
% |
||||||
| Occupancy and Equipment |
|
981 |
|
|
907 |
|
8 |
% |
|
3,726 |
|
|
3,542 |
|
5 |
% |
||||||
| Other Non-Interest Expense |
|
2,432 |
|
|
2,485 |
|
-2 |
% |
|
8,927 |
|
|
9,579 |
|
-7 |
% |
||||||
| Total Non-Interest Expense |
|
8,118 |
|
|
8,230 |
|
-1 |
% |
|
32,650 |
|
|
32,087 |
|
2 |
% |
||||||
| Net Income Before Provision for Taxes |
|
3,004 |
|
|
3,041 |
|
-1 |
% |
|
12,301 |
|
|
14,504 |
|
-15 |
% |
||||||
| Provision for Taxes |
|
986 |
|
|
838 |
|
18 |
% |
|
3,559 |
|
|
3,991 |
|
-11 |
% |
||||||
| Net Income | $ |
2,018 |
|
$ |
2,203 |
|
-8 |
% |
$ |
8,742 |
|
$ |
10,513 |
|
-17 |
% |
||||||
| Shares Outstanding |
|
5,815,818 |
|
|
5,768,697 |
|
1 |
% |
|
5,815,818 |
|
|
5,768,697 |
|
1 |
% |
||||||
| Earnings Per Share - Basic | $ |
0.35 |
|
$ |
0.38 |
|
-9 |
% |
$ |
1.50 |
|
$ |
1.82 |
|
-18 |
% |
||||||
| Return on Average Assets |
|
0.62 |
% |
|
0.69 |
% |
-10 |
% |
|
0.68 |
% |
|
0.82 |
% |
-17 |
% |
||||||
| Return on Average Equity |
|
7.27 |
% |
|
9.36 |
% |
-22 |
% |
|
8.25 |
% |
|
11.02 |
% |
-25 |
% |
||||||
| Net Interest Margin |
|
3.32 |
% |
|
3.61 |
% |
-8 |
% |
|
3.30 |
% |
|
3.63 |
% |
-9 |
% |
||||||
| American Riviera Bancorp and Subsidiaries | ||||||||||||||||||||
| Five Quarter Statements of Income (unaudited) | ||||||||||||||||||||
| (dollars in thousands, except per share data) | ||||||||||||||||||||
Three Months Ended |
||||||||||||||||||||
December 31, |
|
September 30, |
|
June 30, |
|
March 31, |
|
December 31, |
||||||||||||
2024 |
|
2024 |
|
2024 |
|
2024 |
|
2023 |
||||||||||||
| Interest Income | ||||||||||||||||||||
| Interest and Fees on Loans | $ |
13,426 |
|
$ |
13,395 |
|
$ |
13,043 |
|
$ |
12,672 |
|
$ |
12,557 |
|
|||||
| Interest on Securities |
|
1,518 |
|
|
1,577 |
|
|
1,595 |
|
|
1,712 |
|
|
1,751 |
|
|||||
| Interest on Due From Banks |
|
445 |
|
|
305 |
|
|
291 |
|
|
153 |
|
|
293 |
|
|||||
| Total Interest Income |
|
15,389 |
|
|
15,277 |
|
|
14,928 |
|
|
14,537 |
|
|
14,601 |
|
|||||
| Interest Expense | ||||||||||||||||||||
| Interest Expense on Deposits |
|
4,555 |
|
|
4,225 |
|
|
3,534 |
|
|
2,806 |
|
|
2,735 |
|
|||||
| Interest Expense on Borrowings |
|
258 |
|
|
624 |
|
|
1,370 |
|
|
1,538 |
|
|
863 |
|
|||||
| Total Interest Expense |
|
4,813 |
|
|
4,849 |
|
|
4,903 |
|
|
4,344 |
|
|
3,598 |
|
|||||
| Net Interest Income |
|
10,576 |
|
|
10,428 |
|
|
10,025 |
|
|
10,192 |
|
|
11,003 |
|
|||||
| Provision for Credit Losses |
|
282 |
|
|
(0 |
) |
|
78 |
|
|
33 |
|
|
(84 |
) |
|||||
| Net Interest Income After Provision |
|
10,294 |
|
|
10,428 |
|
|
9,947 |
|
|
10,159 |
|
|
11,087 |
|
|||||
| Non-Interest Income | ||||||||||||||||||||
| Service Charges, Commissions and Fees |
|
530 |
|
|
606 |
|
|
731 |
|
|
520 |
|
|
525 |
|
|||||
| Other Non-Interest Income |
|
299 |
|
|
272 |
|
|
805 |
|
|
361 |
|
|
(257 |
) |
|||||
| Total Non-Interest Income |
|
828 |
|
|
878 |
|
|
1,536 |
|
|
881 |
|
|
268 |
|
|||||
| Non-Interest Expense | ||||||||||||||||||||
| Salaries and Employee Benefits |
|
4,705 |
|
|
4,965 |
|
|
5,104 |
|
|
5,223 |
|
|
4,838 |
|
|||||
| Occupancy and Equipment |
|
981 |
|
|
978 |
|
|
894 |
|
|
873 |
|
|
907 |
|
|||||
| Other Non-Interest Expense |
|
2,432 |
|
|
2,429 |
|
|
2,095 |
|
|
1,971 |
|
|
2,569 |
|
|||||
| Total Non-Interest Expense |
|
8,118 |
|
|
8,372 |
|
|
8,093 |
|
|
8,067 |
|
|
8,314 |
|
|||||
| Net Income Before Provision for Taxes |
|
3,004 |
|
|
2,935 |
|
|
3,389 |
|
|
2,973 |
|
|
3,041 |
|
|||||
| Provision for Taxes |
|
986 |
|
|
845 |
|
|
934 |
|
|
793 |
|
|
838 |
|
|||||
| Net Income | $ |
2,018 |
|
$ |
2,089 |
|
$ |
2,455 |
|
$ |
2,180 |
|
$ |
2,203 |
|
|||||
| Shares Outstanding |
|
5,815,818 |
|
|
5,833,825 |
|
|
5,819,759 |
|
|
5,820,150 |
|
|
5,768,697 |
|
|||||
| Earnings Per Share - Basic | $ |
0.35 |
|
$ |
0.36 |
|
$ |
0.42 |
|
$ |
0.37 |
|
$ |
0.38 |
|
|||||
| Net Income pre-tax, pre-provision (Non-GAAP) | $ |
3,286 |
|
$ |
2,935 |
|
$ |
3,434 |
|
$ |
2,972 |
|
$ |
3,039 |
|
|||||
|
|
|
||||||||||||||||||
| American Riviera Bancorp and Subsidiaries | ||||||||||||||||||||
| Selected Financial Highlights (unaudited) | ||||||||||||||||||||
| (dollars in thousands, except per share data) | ||||||||||||||||||||
At or for the Three Months Ended |
||||||||||||||||||||
December 31, |
|
September 30, |
|
June 30, |
|
March 31, |
|
December 31, |
||||||||||||
2024 |
|
2024 |
|
2024 |
|
2024 |
|
2023 |
||||||||||||
| Income and performance ratios: | ||||||||||||||||||||
| Net Income | $ |
2,018 |
|
$ |
2,089 |
|
$ |
2,455 |
|
$ |
2,180 |
|
$ |
2,203 |
|
|||||
| Earnings per share - basic |
|
0.35 |
|
|
0.36 |
|
|
0.42 |
|
|
0.37 |
|
|
0.38 |
|
|||||
| Return on average assets |
|
0.62 |
% |
|
0.65 |
% |
|
0.77 |
% |
|
0.69 |
% |
|
0.69 |
% |
|||||
| Return on average equity |
|
7.27 |
% |
|
7.73 |
% |
|
9.57 |
% |
|
8.65 |
% |
|
9.36 |
% |
|||||
| Loan yield |
|
5.45 |
% |
|
5.52 |
% |
|
5.48 |
% |
|
5.37 |
% |
|
5.26 |
% |
|||||
| Cost of funds |
|
1.63 |
% |
|
1.66 |
% |
|
1.70 |
% |
|
1.51 |
% |
|
1.23 |
% |
|||||
| Cost of deposits |
|
1.58 |
% |
|
1.52 |
% |
|
1.35 |
% |
|
1.09 |
% |
|
1.00 |
% |
|||||
| Net interest margin |
|
3.32 |
% |
|
3.33 |
% |
|
3.24 |
% |
|
3.34 |
% |
|
3.61 |
% |
|||||
| Efficiency ratio (b) |
|
71.18 |
% |
|
74.06 |
% |
|
70.30 |
% |
|
74.33 |
% |
|
73.01 |
% |
|||||
| Balance Sheet ratios: | ||||||||||||||||||||
| Loan-to-deposit ratio |
|
88.92 |
% |
|
86.18 |
% |
|
90.24 |
% |
|
90.60 |
% |
|
90.16 |
% |
|||||
| Non-interest-bearing deposits / total deposits |
|
38.72 |
% |
|
41.19 |
% |
|
39.79 |
% |
|
39.61 |
% |
|
42.21 |
% |
|||||
| Demand deposits / total deposits |
|
49.22 |
% |
|
51.48 |
% |
|
50.12 |
% |
|
52.43 |
% |
|
53.99 |
% |
|||||
| Asset quality: | ||||||||||||||||||||
| Allowance for credit losses | $ |
11,572 |
|
$ |
11,694 |
|
$ |
11,694 |
|
$ |
11,648 |
|
$ |
11,648 |
|
|||||
| Nonperforming assets |
|
6,098 |
|
|
521 |
|
|
614 |
|
|
631 |
|
|
595 |
|
|||||
| Allowance for credit losses / total loans and leases |
|
1.17 |
% |
|
1.20 |
% |
|
1.21 |
% |
|
1.23 |
% |
|
1.23 |
% |
|||||
| Net charge-offs / average loans and leases (annualized) |
|
0.00 |
% |
|
0.00 |
% |
|
0.00 |
% |
|
0.00 |
% |
|
0.00 |
% |
|||||
|
5.47 |
% |
|
0.54 |
% |
|
0.69 |
% |
|
0.74 |
% |
|
0.71 |
% |
||||||
| Capital ratios for American Riviera Bank (c): | ||||||||||||||||||||
| Tier 1 risk-based capital |
|
13.21 |
% |
|
12.93 |
% |
|
12.85 |
% |
|
12.76 |
% |
|
12.62 |
% |
|||||
| Total risk-based capital |
|
14.36 |
% |
|
14.05 |
% |
|
13.99 |
% |
|
13.90 |
% |
|
13.77 |
% |
|||||
| Tier 1 leverage ratio |
|
11.17 |
% |
|
11.15 |
% |
|
11.00 |
% |
|
10.82 |
% |
|
10.62 |
% |
|||||
| Capital ratios for American Riviera Bancorp (c): | ||||||||||||||||||||
| Tier 1 risk-based capital |
|
11.49 |
% |
|
11.24 |
% |
|
11.17 |
% |
|
11.07 |
% |
|
10.94 |
% |
|||||
| Total risk-based capital |
|
14.05 |
% |
|
13.80 |
% |
|
13.77 |
% |
|
13.84 |
% |
|
13.72 |
% |
|||||
| Tier 1 leverage ratio |
|
9.72 |
% |
|
9.70 |
% |
|
9.56 |
% |
|
9.39 |
% |
|
9.21 |
% |
|||||
| Tangible common equity ratio |
|
8.35 |
% |
|
8.31 |
% |
|
7.92 |
% |
|
7.61 |
% |
|
7.60 |
% |
|||||
| Equity and share related: | ||||||||||||||||||||
| Common equity | $ |
111,383 |
|
$ |
112,125 |
|
$ |
105,394 |
|
$ |
101,695 |
|
$ |
100,639 |
|
|||||
| Book value per share |
|
19.15 |
|
|
19.22 |
|
|
18.11 |
|
|
17.47 |
|
|
17.45 |
|
|||||
| Tangible book value per share |
|
18.31 |
|
|
18.37 |
|
|
17.26 |
|
|
16.62 |
|
|
16.59 |
|
|||||
| Tangible book value per share, excluding AOCI (d) |
|
21.69 |
|
|
21.22 |
|
|
20.85 |
|
|
20.38 |
|
|
20.22 |
|
|||||
| Stock closing price per share |
|
20.00 |
|
|
19.40 |
|
|
16.60 |
|
|
15.96 |
|
|
16.50 |
|
|||||
| Number of shares issued and outstanding |
|
5,815.82 |
|
|
5,833.83 |
|
|
5,819.76 |
|
|
5,820.15 |
|
|
5,768.70 |
|
|||||
| 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/20250124234476/en/
American Riviera Bank
www.americanriviera.bank
805-965-5942
Michelle Martinich
Source: American Riviera Bancorp
FAQ
What was ARBV's net income for full-year 2024 compared to 2023?
How much did ARBV's total deposits grow in 2024?
What is ARBV's current loan-to-deposit ratio?
How much did ARBV's tangible book value per share increase in 2024?
What percentage of ARBV's deposits are non-interest-bearing?
