American Riviera Bank Reports Record Year

American Riviera Bank (OTCBB: ARBV) announced unaudited net income of $1,401,000 ($0.55 per share) for the year ended December 31, 2013, a 17% increase as compared to $1,193,000 ($0.47 per share) for the year ending December 31, 2012.

Jeff DeVine, President and Chief Executive Officer stated, “2013 was another great year for the Bank and its customers. We opened our new branch in the upper village of Montecito, launched mobile phone deposit, and grew loans, deposits, and earnings substantially. Residents and businesses within the greater Santa Barbara area continue to embrace our personal, flexible and responsive brand of community banking.”

American Riviera Bank’s focus on building relationships and providing innovative solutions such as mobile phone deposits and business remote deposits resulted in increased deposits and improved deposit mix. Average deposits grew 12% in 2013 with total deposits reaching $153 million at December 31, 2013. Average non-interest bearing demand deposits increased 31% in 2013 to $36 million or 25% of total average deposits.

The Bank saw steady commercial real estate and business loan demand while experiencing increased requests for construction loans and home mortgages. In 2013, our mortgage department originated 73 mortgages in our community totaling $37 million; with brokered loan fees contributing to non-interest income and retained portfolio mortgages increasing loan outstandings. Average loans increased 18% in 2013 with total loans reaching $142 million at December 31, 2013. Loan quality remains high with no other real estate owned and no loans past due 30 or more days at December 31, 2013.

American Riviera Bank has $183 million in total assets, and maintains a strong capital position with Tier 1 Capital to end of month assets of 13% as of December 31, 2013; well above the regulatory guideline of 5% for well capitalized institutions. For 2013, the Bank recorded a return on average assets of 0.80% and a return on average equity of 5.72%. The book value of one share of American Riviera Bank stock is $9.83 at December 31, 2013, an increase from $9.29 at December 31, 2012.

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 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.

American Riviera BankMichelle Martinich, 805-965-5942www.americanrivierabank.com

American Riviera Bancorp (QX) (USOTC:ARBV)
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