American Riviera Bank Reports Continued Profitability

American Riviera Bank (OTCBB: ARBV) announced today that the Bank reported unaudited net income of $502,000 for the six months ending June 30, 2010, a $599,000 improvement from the same period last year.

Jeff DeVine, President and Chief Executive Officer, stated, “With many other banks concerned about earnings and capital, our Bank is well positioned to continue to serve our community by providing a safe place for its deposits and knowledgeable and experienced bankers for its lending needs.”

The Bank’s net interest margin continues to increase, reaching 4.68% for the six months ended June 30, 2010, up from 3.67% for the same period last year. The Bank has made significant improvements in the deposit mix by focusing on core, relationship accounts. In the last 12 months, core deposits have increased 12% to $82 million, or 80% of total deposits, as of June 30, 2010. Loan balances grew to $107 million at June 30, 2010 from $104 million one year ago, and increased 7% from just one quarter ago at March 31, 2010.

The Bank continues to maintain an ample 2.74% loan loss allowance as a percentage of loans with 64% of the $2.9 million reserve in a general allocation and unrelated to specific loans. The Bank recorded $227,000 in loan loss provision for the six months ended June 30, 2010. The Bank has continued to make improvements in loan quality, with a 46% reduction in non-performing loans and other real estate owned since December 31, 2009.

The Bank’s unaudited net income for the quarter ended June 30, 2010 was substantial at $274,000 considering that the quarterly results include a $72,000 loan charge-off and a $124,000 loss on sale of other real estate owned. Net interest margin was 4.90% for the quarter ended June 30, 2010. The Bank continues to maintain a strong capital position with Tier 1 capital to total assets of 13% as of June 30, 2010, well above the regulatory guideline of 5% for well capitalized institutions.

Company Profile

American Riviera Bank is a full service community bank, focused on serving the lending and deposit needs of businesses and consumers in our community. The Bank was founded in 2006 by over 400 local shareholders and has one branch located at 1033 Anacapa Street in downtown Santa Barbara.

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.

American Riviera Bancorp (QX) (USOTC:ARBV)
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