American Riviera Bank (OTC Markets: ARBV) announced unaudited net income of $1,569,000 ($0.61 per share) for the year ended December 31, 2014, a 12% increase as compared to $1,401,000 ($0.55 per share) for the year ending December 31, 2013. Unaudited net income for the quarter ending December 31, 2014 was $535,000 ($0.21 per share) versus $198,000 ($0.08 per share) for the comparable quarter of 2013.

American Riviera Bank's focus on building relationships throughout the community has resulted in outstanding deposit growth. Average deposits increased 22% in 2014 compared to 2013 with total deposits reaching $195 million at December 31, 2014. Non-interest bearing demand deposits now represent 29% of total deposits or $57 million at December 31, 2014, a 47% increase from December 31, 2013.

The Bank saw strong loan demand in 2014 with average loans at $157 million, a 15% increase from $136 million in 2013. The Bank increased commercial real estate and construction loans by a combined 26% and saw increased requests for mortgage and business loans as well. The aforementioned loan growth enabled the Bank to grow net interest income by 11% in 2014 compared to 2013.

Jeff DeVine, President and Chief Executive Officer, stated, "2014 was an excellent year for the Bank and its customers. We significantly expanded our market share by growing deposits and loans, and as a result increased earnings substantially. It has been a pleasure to partner with residents and businesses within the greater Santa Barbara area to provide a personal, flexible, and unique brand of community banking."

American Riviera Bank has $225 million in total assets, and maintains a strong capital position with Tier 1 Capital to end of month assets of 12% as of December 31, 2014; well above the regulatory guideline of 5% for well capitalized institutions. For 2014, the Bank recorded a return on average assets of 0.76% and a return on average equity of 6.04%. The book value of one share of American Riviera Bank stock is $10.41 at December 31, 2014, an increase from $9.83 at December 31, 2013.

Company Profile

American Riviera Bank is a full-service community bank focused on serving the lending and deposit needs of businesses and consumers in Santa Barbara and surrounding communities. The state-chartered bank opened for business on July 18, 2006, with the support of 400 local shareholders. Offices are located at 1033 Anacapa Street in Santa Barbara and 525 San Ysidro Road in Montecito. For 2013, the Bank was named a "Premier Performer" by the Findley Reports. As of September 30, 2014, the Bank was rated five stars by BauerFinancial.

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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