American Riviera Bank Reports Strong Start To 2015

American Riviera Bank (OTC Markets: ARBV) announced unaudited net income of $443,000 ($0.17 per share) for the quarter ended March 31, 2015, a 55% increase as compared to $286,000 ($0.11 per share) for the quarter ended March 31, 2014.

Average deposits increased 31% in the first quarter of 2015 compared to the quarter ended March 31, 2014, with total deposits reaching $200 million at March 31, 2015. Average non-interest bearing demand deposits increased to $60 million, a 44% increase compared to the same reporting period last year.

The Bank increased average loans to $166 million in the first quarter of 2015, a 12% increase from the $146 million in the first quarter of 2014. Growth came primarily from increased requests for residential, commercial real estate, and business loans. The aforementioned loan growth enabled the Bank to grow net interest income by 15% in the first quarter of 2015 compared to the first quarter of 2014. At March 31, 2015, the Bank had no loans 90 or more days past due and no other real estate owned.

Jeff DeVine, President and Chief Executive Officer, stated, "It is a testament to our clients and the surrounding community that American Riviera Bank is able to report strong earnings, a clean credit profile, and significant growth. The Bank looks forward to establishing new relationships and deepening existing relationships that will help the community grow and prosper."

American Riviera Bank had $230 million in total assets, and maintained a strong capital position with a Tier 1 Leverage Ratio of 12% as of March 31, 2015, well above the regulatory guideline of 5% for well capitalized institutions. The Bank reported a return on assets of 0.81% and a return on equity of 6.92% for the first quarter of 2015. The book value of one share of American Riviera Bank stock is $10.24 at March 31, 2015, an increase from $9.55 at March 31, 2014.

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 three consecutive years the Bank has been named a "Premier Performer" by the Findley Reports. As of December 31, 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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