The new Board of Directors, all of whom have deep ties to the Santa Barbara community, will be comprised of representatives from both boards. Lawrence Koppelman, the current Board Chair of American Riviera Bank, will continue in his role.Shareholders of The Bank of Santa Barbara are expected to receive a total of 1,586,000 shares of American Riviera Bank common stock equating to an exchange ratio of 0.8546 shares of ARBV for each common share of The Bank of Santa Barbara. Based on the $9.70 closing price of ARBV as of July 14, 2015, consideration for each common share of The Bank of Santa Barbara is $8.29 and the total consideration is $15.4 million. The merger is expected to be accretive to earnings in 2016 and beyond. The merger is expected to close in the fourth quarter of 2015 and is subject to the closing conditions in the definitive agreement, including approval of regulatory agencies and the shareholders of both banks. INVESTOR PRESENTATION In connection with today's announcement, a detailed investor presentation has been posted to https://www.americanrivierabank.com/investor-relations and http://www.bankofsantabarbara.com/aboutus/news.html. ABOUT AMERICAN RIVIERA BANK 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. The headquarters branch is at 1033 Anacapa Street in Santa Barbara and a branch is located at 525 San Ysidro Road in Montecito. For the past three years, the bank was named a "Premier Performer" by the Findley Reports. For more information, visit www.americanrivierabank.com or call (805) 965-5942. ABOUT THE BANK OF SANTA BARBARA The Bank of Santa Barbara is a state-chartered bank which opened for business on December 19, 2005 and was purchased from a national bank holding company and recapitalized by local investors in November 2009. The Bank is 100% locally-owned and operated and is headquartered at 12 E. Figueroa Street in Santa Barbara with a branch at 5880 Calle Real in Goleta. The Bank is dedicated to providing state-of-the-art banking solutions and customer service reminiscent of the days when bankers knew every client personally. With local ownership and management, The Bank understands the Santa Barbara area market and has the ability to offer fast, local decision-making and financial support to local businesses, non-profits, and individuals. The Findley Report recognized The Bank of Santa Barbara for "Premier Performance" in 2012. Western Independent Bankers (WIB) also named The Bank as the winner in the "Under $150.0 Million in Assets" category for its creative, forward-thinking recapitalization strategy. For more information, visit www.bankofsantabarbara.com or call (805) 730-7860. ADVISORS American Riviera Bank was assisted in this merger by financial advisor Keefe, Bruyette and Woods and outside counsel Horgan, Rosen, Beckham & Coren, LLP. The Bank of Santa Barbara was assisted in this merger by financial advisor D.A. Davidson & Co and outside counsel Sheppard, Mullin, Richter and Hampton, LLP.