American Riviera Bank (OTCBB: ARBV) announced today unaudited net income of $473,000 ($0.19 per share) for the third quarter ended September 30, 2013, a 38% increase from the same quarter last year. For the nine months ending September 30, 2013, the Bank reported unaudited net income of $1,203,000 ($0.47 per share), a 49% improvement from the $807,000 for the same reporting period last year.

Total deposits were $143 million at September 30, 2013. Non-interest bearing deposits averaged $38 million during the third quarter of 2013, a 33% increase from the same reporting period last year. In addition to the Montecito branch opened in April 2013, American Riviera Bank has enhanced our technology to make banking even more convenient for our clients. The Bank recently launched mobile applications for iPhone as well as Android operating systems and is presently the only community bank in the greater Santa Barbara area enabling customers to take a picture of a check with their mobile phone and electronically deposit it at the Bank.

Jeff DeVine, President and Chief Executive Officer stated, “We have made significant investments to expand our presence and increase convenience for our clients. We provide community bank service with advanced technology typically only available from mega-banks. Our clients get more and sacrifice nothing to bank here.”

The Bank has experienced strong loan demand; reporting $137 million in average loans for the third quarter of 2013, which represents a 16% increase from the third quarter of 2012. Thus far in 2013, our mortgage department has originated 60 mortgage loans on 1-4 family dwellings in our community with a total principal balance of just over $30 million. Loan quality overall remains very high, with no loans 30 days or more past due.

The Bank has $173 million in total assets, and maintains a strong capital position with Tier 1 Capital to total average assets of 14% as of September 30, 2013; well above the regulatory guideline of 5% for well capitalized institutions. The book value of one share of American Riviera Bank stock is $9.73 at September 30, 2013, an increase from $9.18 at September 30, 2012.

Company Profile

American Riviera Bank is a full service community bank, focused on serving the financial needs of businesses and consumers in our community. The Bank was founded in 2006 by over 400 local shareholders and currently has two branches located at 1033 Anacapa Street in downtown Santa Barbara and 525 San Ysidro Road in Montecito. For 2012, the Bank was named a “Premier Performer” by the Findley Reports.

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.

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