American River Bankshares Reports Third Quarter 2020 Results
Sacramento, CA, October 22, 2020 – American River Bankshares (NASDAQ-GS: AMRB) today reported net income of $1.8 million, or $0.30 per diluted share for the third quarter of 2020 compared to $1.6 million, or $0.27 per diluted share for the third quarter of 2019. For the nine months ended September 30, 2020, net income was $5.0 million or $0.84 per diluted share, compared to $4.0 million or $0.68 per diluted share for the nine months ended September 30, 2019.
“The third quarter of 2020 continued to be impacted by the COVID-19 pandemic, however, the Company has experienced some positive trends in our market with over $33 million in new loan fundings,” said David E. Ritchie, Jr., President and Chief Executive Officer. “We continue to place a high priority on keeping our staff informed and safe, as well as, staying in close contact with our clients. We are pleased to see that so many of our borrowers have begun to make their regularly scheduled loan payments, upon the expiration of their loan payment deferral periods.”
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 provide financial expertise and exceptional service to complement a full suite of banking products and services to meet the needs of the communities we serve. For more information, call (800) 544-0545 or visit our website at 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, 2019, 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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