American River Bankshares Reports Fourth Quarter 2018 Results
Sacramento, CA, January 24, 2019 – American River Bankshares (NASDAQ-GS: AMRB) today reported net income of $1,125,000, or $0.19 per diluted share for the fourth quarter of 2018 compared to a net loss of $392,000, or ($0.06) per diluted share for the fourth quarter of 2017. For the twelve months ended December 31, 2018, net income was $4.9 million or $0.83 per diluted share, compared to $3.2 million or $0.50 per diluted share for the twelve months ended December 31, 2017.
“We are pleased to see the team making progress on our plan,” said David E. Ritchie, Jr., President and CEO of American River Bankshares. “We believe we have the right people working hard to develop new relationships for the Bank.” Ritchie continued, “Our net interest income and net interest margin have continued to increase for the third consecutive quarter and our credit quality is solid with just $27,000 in nonaccrual loans and zero loans past due over 30 days.”
About American River Bankshares American River Bankshares [NASDAQ-GS: AMRB] is the parent company of American River Bank, a regional bank serving Northern California since 1983. We give business owners more REACH by offering financial expertise and exceptional service to complement a full suite of banking products and services. Our honest approach, commitment to community and focus on profitability is intended to lead our clients to greater success. For more information, call (800) 544-0545 or visit AmericanRiverBank.com.
Forward-Looking Statement Certain statements contained herein are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Actual results may differ materially from the results in these forward-looking statements. Factors that might cause such a difference include, among other matters, changes in interest rates, economic conditions, governmental regulation and legislation, credit quality, and competition affecting the Company’s businesses generally; the risk of natural disasters and future catastrophic events including terrorist related incidents; and other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, and in subsequent reports filed on Form 10-Q and Form 8-K. The Company does not undertake any obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or otherwise, except as required by law.
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