American Riviera Bancorp Announces Results for the Third Quarter of 2025
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Audio By Carbonatix
7:35 PM on Friday, October 24
The Associated Press
SANTA BARBARA, CA / ACCESS Newswire / October 24, 2025 / American Riviera Bancorp ("Company") (OTCQX:ARBV), holding company of American Riviera Bank ("Bank"), announced today unaudited net income of $7.9 million ($1.38 per share) for the nine months ended September 30, 2025, compared to $6.7 million ($1.15 per share) earned in the same reporting period in the previous year. Unaudited net income was $2.9 million ($0.51 per share) for the three months ended September 30, 2025, compared to $2.6 million ($0.46 per share) in the previous quarter, and $2.1 million ($0.36 per share) earned in the same reporting period in the previous year.
Total deposits were $1.26 billion at September 30, 2025, an increase of $128.0 million or 11.3% from September 30, 2024. At September 30, 2025, all deposits were "core deposits" from our clients, with no wholesale-funded certificates of deposit. Total loans were $1.04 billion at September 30, 2025, an increase of $65.6 million or 6.7% from September 30, 2024. Total loans grew $21.6 million or 2.1% in the third quarter of 2025.
Jeff DeVine, President and CEO of the Company and the Bank stated, "Our loyal clients have helped us achieve substantial growth in deposits, loans and profitability year to date. We are excited to announce American Riviera Bank's expansion into Ventura County with the recent hiring of two experienced relationship bankers to open our Ventura loan production office."
Third Quarter 2025 Highlights
Recognized by S&P Global as a Top 100 Small US Community Bank Deposit Franchise as of June 30, 2025.
Unaudited net income and earnings per share have increased sequentially over the past three quarters and have improved 40.1% and 41.7%, respectively, from the third quarter of 2024.
Return on average assets was 0.85%, return on average equity was 9.75% and efficiency ratio was 65.89% for the third quarter of 2025, with sequential improvement in all of these ratios over the past three quarters.
Total shareholders' equity was $122.1 million at September 30, 2025, and increased $9.9 million or 8.9% from the same reporting period in the previous year.
Tangible book value per share was $20.52 at September 30, 2025, and increased $2.15 or 11.7% from the same reporting period in the previous year.
Pursuant to the approved share repurchase program, the Company acquired 100,000 shares of common stock at a weighted average cost of $20.28 in the third quarter of 2025, which was below tangible book value per share of $20.52 at September 30, 2025.
The Company's tangible common equity ratio was stable at 8.27% at September 30, 2025, compared to 8.31% at September 30, 2024. Strong earnings and improved shareholder equity over the prior year were offset by cumulative share repurchases totaling $2.6 million and 9.9% asset growth.
Non-interest-bearing demand deposits were $482.3 million or 38.3% of total deposits at September 30, 2025, and have increased $51.3 million or 11.9% year to date.
Total demand deposits were $663.3 million or 52.6% of total deposits at September 30, 2025, and have increased $115.3 million or 21.0% year to date.
As a result of the Bank's core funding and relationship-based deposits, the cost of deposits and total cost of funds remain low at 1.45% and 1.48%, respectively, for the third quarter of 2025. Total cost of funds has improved by 18 basis points from the 1.66% reported for the same quarter in the prior year.
Net interest margin ("NIM") was stable at 3.66% for the third quarter of 2025, compared to 3.65% in the prior quarter, and has improved 33 basis points from the 3.33% reported for the same quarter in the prior year. NIM has improved as a result of steady loan yield improvement and declining total cost of funds.
On-balance sheet liquidity continues to be substantial with $293.2 million of cash, due from banks, and available-for-sale ("AFS") securities market value at September 30, 2025.
At September 30, 2025, the Bank's commercial real estate ("CRE") portfolio is diverse, with only $80.7 million in the non-owner-occupied office category and weighted average loan-to-values of 29% to 53% depending on the individual CRE category. As of the most recent CRE stress test in July 2025, weighted average debt coverage ratios were between 1.73x and 4.40x depending on the individual CRE category.
The Bank maintained strong credit quality with no other real estate owned, no loans 90 days or more past due and still accruing, and $9.8 million or 0.94% of total loans on non-accrual status, which are well supported by collateral, borrower assets, SBA guarantees, or specific reserves. Subsequent to quarter-end, a $1.5 million loan which was moved to non-accrual during the third quarter of 2025 was repaid in full including interest.
Third Quarter 2025 Earnings
For the third quarter of 2025, unaudited net income was $2.9 million, compared to $2.6 million reported in the second quarter of 2025, and $2.1 million reported in the third quarter of 2024. Unaudited net income pre-tax, pre-provision (non-GAAP) was $4.5 million in the third quarter of 2025, a $0.5 million or 12.5% increase from the $4.0 million reported in the second quarter of 2025, and a $1.6 million or 55.2% increase from the $2.9 million reported in the third quarter of 2024.
The Bank continues to grow interest and fees on loans sequentially over the last five quarters from $13.4 million in the third quarter of 2024 to $14.8 million in the third quarter of 2025, representing a $1.4 million or 10.4% increase.
Total interest expense has decreased from $4.9 million in the third quarter of 2024 to $4.6 million in the third quarter of 2025, a $0.3 million or 5.7% decrease. Even though deposits have grown $128.0 million or 11.3% since the third quarter of 2024, total interest expense has notably declined due to the favorable shift in funding mix, reduced borrowings and deposit rate reductions which have followed the Federal Reserve's actions to lower its target rate.
Net interest income pre-provision increased $0.8 million or 7.0% in the third quarter of 2025 compared to the second quarter of 2025, and increased $1.7 million or 16.8% compared to the third quarter of 2024.
Non-Interest Income and Expense
Total non-interest income was $0.9 million for the third quarter of 2025, the same as the prior quarter, and the same as the third quarter of last year. Variances between the quarters can be attributed to SBA loan sale premiums, mortgage broker fees, loan interest rate swap fees, loan prepayment fees and gains or losses on sale of securities.
Total non-interest expense was $8.6 million for the third quarter of 2025, an increase from the $8.3 million reported for the prior quarter and the $8.4 million reported for the same quarter last year. Variances between the quarters can be attributed to changes in bonus accruals, check fraud and legal costs and the timing of expenses related to advertising and events. The Company has benefitted from tight expense control with total non-interest expense up only $0.7 million or 2.9% year to date 2025 versus year to date 2024.
Loans and Asset Quality
Total loans were $1.04 billion at September 30, 2025, an increase of $21.6 million or 2.1% from the prior quarter-end, and an increase of $65.6 million or 6.7% from September 30, 2024.
The Bank's Allowance for Credit Losses ("ACL") was $12.7 million at September 30, 2025, with a resulting coverage ratio of 1.22%, as compared to $12.5 million or 1.22% at the prior quarter-end and $11.7 million or 1.20% at September 30, 2024. As of September 30, 2025, non-accrual loans totaled $9.8 million, a $1.4 million increase from the previous quarter-end, and a $9.3 million increase from the $0.5 million reported at September 30, 2024. Subsequent to quarter-end, a $1.5 million loan which was moved to non-accrual during the third quarter of 2025 was repaid in full including interest. All loans on non-accrual are well supported by collateral, borrower assets, SBA guarantees, or specific reserves.
Deposits & Borrowings
Total deposits were $1.26 billion at September 30, 2025, a $129.3 million increase from the prior quarter-end, and an increase of $128.0 million or 11.3% from September 30, 2024. Deposit growth year-over-year was represented by core deposits, with no wholesale brokered funds at September 30, 2025.
Non-interest-bearing demand deposits totaled $482.3 million at September 30, 2025, an increase of $34.8 million or 7.8% from the prior quarter-end, and an increase of $15.8 million or 3.4% from September 30, 2024. Non-interest-bearing demand deposits represent 38.3% of total deposits at September 30, 2025, compared to 39.6% at the prior quarter-end, and 41.2% at September 30, 2024.
Interest-bearing demand deposits totaled $180.9 million at September 30, 2025, an increase of $46.4 million or 34.5% from the prior quarter-end, and an increase of $64.3 million or 55.1% from September 30, 2024. Total demand deposits, including interest-bearing demand, represent 52.6% of total deposits at September 30, 2025, compared to 51.4% at the prior quarter-end, and 51.5% at September 30, 2024.
Other interest-bearing deposits totaled $597.5 million at September 30, 2025, an increase of $48.1 million or 8.7% from the prior quarter-end, and an increase of $47.9 million or 8.7% from September 30, 2024.
The weighted average cost of deposits for the third quarter of 2025 increased to 1.45% from 1.39% for the second quarter of 2025, but remained lower than the 1.52% reported for the same quarter of last year. The increase in the cost of deposits was due to significant growth in interest-bearing deposits during the third quarter of 2025.
The Company's total borrowings decreased to $26.5 million at September 30, 2025, from $38.5 million at June 30, 2025. At September 30, 2025, the Company had $10.0 million drawn on a correspondent bank line of credit at a rate of 3.85%, and $16.5 million of subordinated notes outstanding at a rate of 3.75%. The weighted average cost on all borrowings for the third quarter of 2025 was 3.84%, resulting in $0.3 million of interest expense on borrowings, a slight decrease compared to the $0.5 million of borrowing expense for the previous quarter, and lower than the $0.6 million incurred for the same quarter last year.
As a result of the continued favorable shift to core funding and the impact of deposit pricing changes, total cost of funds was 1.48% for the third quarter of 2025, 2 basis points better than the 1.50% reported for the previous quarter, and 18 basis points better than the 1.66% reported for the same quarter of last year. The Company's net interest margin slightly improved to 3.66% for the third quarter of 2025, compared to 3.65% in the prior quarter, and improved a significant 33 basis points from the 3.33% reported for the same quarter of last year as a result of steady loan yield improvement and decline in total cost of funds.
The Bank's liquidity position remained strong with a primary liquidity ratio (cash and cash equivalents, deposits held in other banks and unpledged AFS securities as a percentage of total assets) of 18.6% at September 30, 2025, compared to 12.8% at June 30, 2025.
As of September 30, 2025, the Bank had available and unused, secured borrowing capacity with the Federal Home Loan Bank of San Francisco of $267.1 million, and had available and unused, secured borrowing capacity with the Federal Reserve of $46.0 million. In addition, the Bank had $142.7 million of unused fed funds lines of credit with correspondent banks at September 30, 2025. Available contingent funding sources of $455.8 million remain robust.
Overall uninsured deposits, excluding public agency deposits that are collateralized, are conservatively estimated to be $440.6 million, or 35.0% of total deposit balances as of September 30, 2025. The actual level of uninsured deposits is lower than the percentage stated above, as our knowledgeable bankers have helped clients obtain more than $250,000 of FDIC insurance with vesting structures such as joint accounts, payable upon death accounts, and revocable trust accounts with multiple beneficiaries. In addition, the Bank can offer up to $285 million of FDIC pass-through insurance to clients via the IntraFi network Insured Cash Sweep ("ICS") or Certificate of Deposit Account Registry Service ("CDARS") products.
Shareholders' Equity
Total shareholders' equity was $122.1 million at September 30, 2025, a $4.4 million or 3.8% increase since June 30, 2025, and an increase of $9.9 million or 8.9% over the same period of the prior year. The tax adjusted unrealized loss on securities, which is a component of equity (accumulated other comprehensive income or "AOCI"), improved $3.2 million or 18.0% from $17.9 million at June 30, 2025, to $14.7 million at September 30, 2025, and improved $1.9 million or 11.4% from September 30, 2024. The Bank fully expects to receive all principal when the investments mature.
As of September 30, 2025, the Company had repurchased 130,616 shares of common stock at a weighted average cost of $19.80, leaving $2.4 million available for repurchase under the share repurchase program.
Company Profile
American Riviera Bancorp (OTCQX:ARBV) is a registered bank holding company headquartered in Santa Barbara, California. American Riviera Bank, the 100% owned subsidiary of American Riviera Bancorp, is a full-service community bank focused on serving the lending and deposit needs of businesses and consumers on the Central Coast of California. The state-chartered bank opened for business on July 18, 2006, with the support of local shareholders. Full-service branches are located in Santa Barbara, Montecito, Goleta, Santa Maria, San Luis Obispo, Atascadero, and Paso Robles. The Bank provides commercial business, commercial real estate, residential mortgage, construction, and Small Business Administration lending services as well as convenient online and mobile technology. The Bank maintains a "5 Star - Superior" rating from Bauer Financial and for fourteen consecutive years, has been recognized for strong financial performance by the Findley Reports. The Bank was rated "Outstanding" by the Federal Deposit Insurance Corporation in 2023 for its performance under the Community Reinvestment Act. The Company was named to the "OTCQX Best 50" list for equal weighted share trading volume and total return in 2024. The Bank was recognized by S&P Global as a Top 100 Small US Community Bank Deposit Franchise as of June 30, 2025. #BankonBetter #OTCQX
American Riviera Bank
805-965-5942
Michelle Martinich
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 and Subsidiaries
Balance Sheets (unaudited)
(dollars in thousands)
September 30, | September 30, | One Year | One Year | |||||||||||||
2025 | 2024 | $ Change | % Change | |||||||||||||
Assets | ||||||||||||||||
Cash & Due From Banks | $ | 128,753 | $ | 40,549 | $ | 88,204 | 218 | % | ||||||||
Available-for-sale securities | 164,459 | 188,173 | (23,714 | ) | -13 | % | ||||||||||
Held-to-maturity securities, net | 41,411 | 41,377 | 34 | 0 | % | |||||||||||
Loans | 1,041,839 | 976,257 | 65,582 | 7 | % | |||||||||||
Allowance For Credit Losses | (12,689 | ) | (11,694 | ) | (995 | ) | 9 | % | ||||||||
Net Loans | 1,029,150 | 964,563 | 64,587 | 7 | % | |||||||||||
Premise & Equipment | 7,494 | 8,477 | (983 | ) | -12 | % | ||||||||||
Operating Lease Right-of-Use Asset | 5,885 | 5,153 | 732 | 14 | % | |||||||||||
Bank Owned Life Insurance | 12,489 | 12,027 | 462 | 4 | % | |||||||||||
Stock in Other Banks | 6,786 | 6,786 | - | - | ||||||||||||
Goodwill and Other Intangibles | 4,883 | 4,939 | (56 | ) | -1 | % | ||||||||||
Other Assets | 21,142 | 22,716 | (1,574 | ) | -7 | % | ||||||||||
Total Assets | $ | 1,422,452 | $ | 1,294,758 | $ | 127,694 | 10 | % | ||||||||
Liabilities & Shareholders' Equity | ||||||||||||||||
Non-interest-bearing Demand Deposits | $ | 482,343 | $ | 466,537 | $ | 15,806 | 3 | % | ||||||||
Interest-bearing Demand Deposits | 180,930 | 116,624 | 64,306 | 55 | % | |||||||||||
Other Interest-bearing Deposits | 597,454 | 549,601 | 47,853 | 9 | % | |||||||||||
Total Deposits | 1,260,727 | 1,132,762 | 127,965 | 11 | % | |||||||||||
Borrowed Funds | 26,500 | 36,500 | (10,000 | ) | -27 | % | ||||||||||
Allowance for credit losses on off-balance sheet exposures | 1,215 | 649 | 566 | 87 | % | |||||||||||
Other Liabilities | 11,956 | 12,723 | (767 | ) | -6 | % | ||||||||||
Total Liabilities | 1,300,398 | 1,182,634 | 117,764 | 10 | % | |||||||||||
Common Stock | 68,493 | 67,841 | 652 | 1 | % | |||||||||||
Retained Earnings | 68,276 | 60,901 | 7,375 | 12 | % | |||||||||||
Other Capital | (14,715 | ) | (16,617 | ) | 1,902 | 11 | % | |||||||||
Total Shareholders' Equity | 122,054 | 112,125 | 9,929 | 9 | % | |||||||||||
Total Liabilities & Shareholders' Equity | $ | 1,422,452 | $ | 1,294,758 | $ | 127,694 | 10 | % | ||||||||
American Riviera Bancorp and Subsidiaries
Balance Sheets (unaudited)
(dollars in thousands)
September 30, | June 30, | March 31, | December 31, | September 30, | ||||||||||||||||
2025 | 2025 | 2025 | 2024 | 2024 | ||||||||||||||||
Assets | ||||||||||||||||||||
Cash & Due From Banks | $ | 128,753 | $ | 28,111 | $ | 30,525 | $ | 20,948 | $ | 40,549 | ||||||||||
Available-for-sale securities | 164,459 | 162,089 | 175,787 | 178,082 | 188,173 | |||||||||||||||
Held-to-maturity securities | 41,411 | 41,392 | 41,410 | 41,393 | 41,377 | |||||||||||||||
Loans | 1,041,839 | 1,020,261 | 994,788 | 989,941 | 976,257 | |||||||||||||||
Allowance for Credit Losses | (12,689 | ) | (12,496 | ) | (11,859 | ) | (11,572 | ) | (11,694 | ) | ||||||||||
Net Loans | 1,029,150 | 1,007,765 | 982,928 | 978,369 | 964,563 | |||||||||||||||
Premise & Equipment | 7,494 | 7,773 | 7,943 | 8,221 | 8,477 | |||||||||||||||
Operating Lease Right-of-Use Asset | 5,885 | 6,184 | 4,528 | 4,841 | 5,153 | |||||||||||||||
Bank Owned Life Insurance | 12,489 | 12,370 | 12,254 | 12,131 | 12,027 | |||||||||||||||
Stock in Other Banks | 6,786 | 6,786 | 6,786 | 6,786 | 6,786 | |||||||||||||||
Goodwill and Other Intangibles | 4,883 | 4,889 | 4,898 | 4,911 | 4,939 | |||||||||||||||
Other Assets | 21,142 | 23,086 | 21,725 | 23,629 | 22,716 | |||||||||||||||
Total Assets | $ | 1,422,452 | $ | 1,300,445 | $ | 1,288,784 | $ | 1,279,312 | $ | 1,294,758 | ||||||||||
Liabilities & Shareholders' Equity | ||||||||||||||||||||
Non-interest-bearing Demand Deposits | $ | 482,343 | $ | 447,534 | $ | 445,533 | $ | 431,031 | $ | 466,537 | ||||||||||
Interest-bearing Demand Deposits | 180,930 | 134,538 | 116,425 | 116,995 | 116,624 | |||||||||||||||
Other Interest-bearing Deposits | 597,454 | 549,404 | 572,936 | 565,312 | 549,601 | |||||||||||||||
Total Deposits | 1,260,727 | 1,131,476 | 1,134,894 | 1,113,338 | 1,132,762 | |||||||||||||||
Borrowed Funds | 26,500 | 38,500 | 26,500 | 41,500 | 36,500 | |||||||||||||||
Allowance for credit losses on off-balance sheet exposures | 1,215 | 993 | 1,126 | 1,052 | 649 | |||||||||||||||
Other Liabilities | 11,956 | 11,865 | 11,158 | 12,039 | 12,723 | |||||||||||||||
Total Liabilities | 1,300,398 | 1,182,834 | 1,173,678 | 1,167,929 | 1,182,634 | |||||||||||||||
Common Stock | 68,493 | 67,914 | 67,914 | 68,041 | 67,841 | |||||||||||||||
Retained Earnings | 68,276 | 67,645 | 65,334 | 63,012 | 60,901 | |||||||||||||||
Other Capital | (14,715 | ) | (17,948 | ) | (18,142 | ) | (19,670 | ) | (16,617 | ) | ||||||||||
Total Shareholders' Equity | 122,054 | 117,611 | 115,106 | 111,383 | 112,125 | |||||||||||||||
Total Liabilities & Shareholders' Equity | $ | 1,422,452 | $ | 1,300,445 | $ | 1,288,784 | $ | 1,279,312 | $ | 1,294,758 | ||||||||||
American Riviera Bancorp and Subsidiaries
Average Balance Sheets (unaudited)
(dollars in thousands)
3Q 2025 Average | 2Q 2025 Average | 1Q 2025 Average | 4Q 2024 Average | 3Q 2024 Average | ||||||||||||||||
Assets | ||||||||||||||||||||
Cash & Due From Banks | $ | 70,822 | $ | 21,159 | $ | 28,207 | $ | 49,181 | $ | 36,917 | ||||||||||
Available-for-sale securities | 162,709 | 166,833 | 176,964 | 183,256 | 188,006 | |||||||||||||||
Held-to-maturity securities | 41,397 | 41,414 | 41,400 | 41,383 | 41,367 | |||||||||||||||
Loans | 1,031,749 | 1,007,429 | 988,262 | 980,848 | 965,895 | |||||||||||||||
Allowance for Credit Losses | (12,626 | ) | (12,010 | ) | (11,575 | ) | (11,692 | ) | (11,694 | ) | ||||||||||
Net Loans | 1,019,123 | 995,419 | 976,687 | 969,156 | 954,201 | |||||||||||||||
Premise & Equipment | 7,666 | 7,910 | 8,118 | 8,384 | 8,612 | |||||||||||||||
Operating Lease Right-of-Use Asset | 6,057 | 4,636 | 4,676 | 4,945 | 5,013 | |||||||||||||||
Bank Owned Life Insurance | 12,448 | 12,330 | 12,183 | 12,072 | 11,975 | |||||||||||||||
Stock in Other Banks | 6,786 | 6,786 | 6,786 | 6,786 | 6,786 | |||||||||||||||
Goodwill and Other Intangibles | 4,887 | 4,894 | 4,904 | 4,925 | 4,947 | |||||||||||||||
Other Assets | 21,981 | 20,943 | 21,893 | 22,926 | 23,289 | |||||||||||||||
Total Assets | $ | 1,353,876 | $ | 1,282,324 | $ | 1,281,818 | $ | 1,303,014 | $ | 1,281,113 | ||||||||||
Liabilities & Shareholders' Equity | ||||||||||||||||||||
Non-interest-bearing Demand Deposits | $ | 465,622 | $ | 433,652 | $ | 435,938 | $ | 452,802 | $ | 441,631 | ||||||||||
Interest-bearing Demand Deposits | 150,042 | 120,062 | 113,411 | 113,218 | 114,737 | |||||||||||||||
Other Interest-bearing Deposits | 579,637 | 554,088 | 568,440 | 584,053 | 547,344 | |||||||||||||||
Total Deposits | 1,195,301 | 1,107,802 | 1,117,789 | 1,150,073 | 1,103,712 | |||||||||||||||
Borrowed Funds | 26,674 | 47,231 | 37,389 | 27,772 | 55,181 | |||||||||||||||
Allowance for credit losses on off-balance sheet exposures | 1,085 | 1,092 | 1,053 | 654 | 649 | |||||||||||||||
Other Liabilities | 12,052 | 10,208 | 12,364 | 13,125 | 13,535 | |||||||||||||||
Total Liabilities | 1,235,112 | 1,166,333 | 1,168,595 | 1,191,624 | 1,173,077 | |||||||||||||||
Common Stock | 68,413 | 68,092 | 68,076 | 68,057 | 67,676 | |||||||||||||||
Retained Earnings | 67,886 | 66,288 | 64,320 | 61,775 | 59,846 | |||||||||||||||
Other Capital | (17,535 | ) | (18,389 | ) | (19,173 | ) | (18,442 | ) | (19,486 | ) | ||||||||||
Total Shareholders' Equity | 118,764 | 115,991 | 113,223 | 111,390 | 108,036 | |||||||||||||||
Total Liabilities & Shareholders' Equity | $ | 1,353,876 | $ | 1,282,324 | $ | 1,281,818 | $ | 1,303,014 | $ | 1,281,113 | ||||||||||
American Riviera Bancorp and Subsidiaries
Statement of Income (unaudited)
(dollars in thousands, except per share data)
Quarter Ended | Nine Months Ended | |||||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||||||||||
2025 | 2024 | Change | 2025 | 2024 | Change | |||||||||||||||||||
Interest Income | ||||||||||||||||||||||||
Interest and Fees on Loans | $ | 14,789 | $ | 13,395 | 10 | % | $ | 42,655 | $ | 39,110 | 9 | % | ||||||||||||
Interest on Securities | 1,340 | 1,577 | -15 | % | 4,268 | 4,884 | -13 | % | ||||||||||||||||
Interest on Due From Banks | 621 | 305 | 104 | % | 865 | 748 | 16 | % | ||||||||||||||||
Total Interest Income | 16,750 | 15,277 | 10 | % | 47,788 | 44,742 | 7 | % | ||||||||||||||||
Interest Expense | ||||||||||||||||||||||||
Interest Expense on Deposits | 4,315 | 4,225 | 2 | % | 12,002 | 10,565 | 14 | % | ||||||||||||||||
Interest Expense on Borrowings | 257 | 624 | -59 | % | 1,117 | 3,532 | -68 | % | ||||||||||||||||
Total Interest Expense | 4,572 | 4,849 | -6 | % | 13,119 | 14,097 | -7 | % | ||||||||||||||||
Net Interest Income | 12,178 | 10,428 | 17 | % | 34,669 | 30,645 | 13 | % | ||||||||||||||||
Provision for Credit Losses | 194 | - | - | 1,115 | 111 | 905 | % | |||||||||||||||||
Provision for Off-Balance Sheet Credit Exposures | 221 | - | - | 162 | - | - | ||||||||||||||||||
Net Interest Income After Provision | 11,763 | 10,428 | 13 | % | 33,392 | 30,534 | 9 | % | ||||||||||||||||
Non-Interest Income | ||||||||||||||||||||||||
Service Charges, Commissions and Fees | 631 | 606 | 4 | % | 1,818 | 1,857 | -2 | % | ||||||||||||||||
Other Non-Interest Income | 289 | 272 | 6 | % | 803 | 1,438 | -44 | % | ||||||||||||||||
Total Non-Interest Income | 920 | 878 | 5 | % | 2,621 | 3,295 | -20 | % | ||||||||||||||||
Non-Interest Expense | ||||||||||||||||||||||||
Salaries and Employee Benefits | 5,467 | 4,965 | 10 | % | 16,115 | 15,292 | 5 | % | ||||||||||||||||
Occupancy and Equipment | 922 | 978 | -6 | % | 2,788 | 2,744 | 2 | % | ||||||||||||||||
Other Non-Interest Expense | 2,240 | 2,429 | -8 | % | 6,349 | 6,496 | -2 | % | ||||||||||||||||
Total Non-Interest Expense | 8,629 | 8,372 | 3 | % | 25,252 | 24,532 | 3 | % | ||||||||||||||||
Net Income Before Provision for Taxes | 4,054 | 2,934 | 38 | % | 10,761 | 9,297 | 16 | % | ||||||||||||||||
Provision for Taxes | 1,125 | 845 | 33 | % | 2,865 | 2,572 | 11 | % | ||||||||||||||||
Net Income | $ | 2,929 | $ | 2,089 | 40 | % | $ | 7,896 | $ | 6,725 | 17 | % | ||||||||||||
Shares Outstanding | 5,708,960 | 5,833,825 | -2 | % | 5,708,960 | 5,833,825 | -2 | % | ||||||||||||||||
Earnings Per Share - Basic | $ | 0.51 | $ | 0.36 | 42 | % | $ | 1.38 | $ | 1.15 | 20 | % | ||||||||||||
Return on Average Assets | 0.85 | % | 0.65 | % | 31 | % | 0.81 | % | 0.70 | % | 16 | % | ||||||||||||
Return on Average Equity | 9.75 | % | 7.73 | % | 26 | % | 9.13 | % | 8.64 | % | 6 | % | ||||||||||||
Net Interest Margin | 3.66 | % | 3.33 | % | 10 | % | 3.64 | % | 3.29 | % | 11 | % | ||||||||||||
American Riviera Bancorp and Subsidiaries
Five Quarter Statements of Income (unaudited)
(dollars in thousands, except per share data)
Three Months Ended | ||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | September 30, | ||||||||||||||||
2025 | 2025 | 2025 | 2024 | 2024 | ||||||||||||||||
Interest Income | ||||||||||||||||||||
Interest and Fees on Loans | $ | 14,789 | $ | 14,168 | $ | 13,698 | $ | 13,426 | $ | 13,395 | ||||||||||
Interest on Securities | 1,340 | 1,439 | 1,489 | 1,518 | 1,577 | |||||||||||||||
Interest on Due From Banks | 621 | 82 | 162 | 445 | 305 | |||||||||||||||
Total Interest Income | 16,750 | 15,689 | 15,349 | 15,389 | 15,277 | |||||||||||||||
Interest Expense | ||||||||||||||||||||
Interest Expense on Deposits | 4,315 | 3,822 | 3,865 | 4,555 | 4,225 | |||||||||||||||
Interest Expense on Borrowings | 257 | 487 | 373 | 258 | 624 | |||||||||||||||
Total Interest Expense | 4,572 | 4,309 | 4,238 | 4,813 | 4,849 | |||||||||||||||
Net Interest Income | 12,178 | 11,380 | 11,111 | 10,576 | 10,428 | |||||||||||||||
Provision for Credit Losses | 194 | 634 | 287 | (121 | ) | - | ||||||||||||||
Provision for Off-Balance Sheet Credit Exposures | 221 | (133 | ) | 74 | 403 | - | ||||||||||||||
Net Interest Income After Provision | 11,763 | 10,879 | 10,750 | 10,294 | 10,428 | |||||||||||||||
Non-Interest Income | ||||||||||||||||||||
Service Charges, Commissions and Fees | 631 | 639 | 548 | 530 | 606 | |||||||||||||||
Other Non-Interest Income | 289 | 247 | 267 | 299 | 272 | |||||||||||||||
Total Non-Interest Income | 920 | 886 | 815 | 828 | 878 | |||||||||||||||
Non-Interest Expense | ||||||||||||||||||||
Salaries and Employee Benefits | 5,467 | 5,250 | 5,398 | 4,705 | 4,965 | |||||||||||||||
Occupancy and Equipment | 922 | 929 | 937 | 981 | 978 | |||||||||||||||
Other Non-Interest Expense | 2,240 | 2,072 | 2,037 | 2,432 | 2,429 | |||||||||||||||
Total Non-Interest Expense | 8,629 | 8,251 | 8,372 | 8,118 | 8,372 | |||||||||||||||
Net Income Before Provision for Taxes | 4,054 | 3,514 | 3,193 | 3,004 | 2,935 | |||||||||||||||
Provision for Taxes | 1,125 | 870 | 870 | 986 | 845 | |||||||||||||||
Net Income | $ | 2,929 | $ | 2,644 | $ | 2,323 | $ | 2,018 | $ | 2,089 | ||||||||||
Shares Outstanding | 5,708,960 | 5,810,042 | 5,833,247 | 5,815,818 | 5,833,825 | |||||||||||||||
Earnings Per Share - Basic | $ | 0.51 | $ | 0.46 | $ | 0.40 | $ | 0.35 | $ | 0.36 | ||||||||||
Net Income pre-tax, pre-provision (Non-GAAP) | $ | 4,469 | $ | 4,015 | $ | 3,554 | $ | 3,286 | $ | 2,935 | ||||||||||
American Riviera Bancorp and Subsidiaries
Selected Financial Highlights (unaudited)
(dollars in thousands, except per share data)
At or for the Three Months Ended | ||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | September 30, | ||||||||||||||||
2025 | 2025 | 2025 | 2024 | 2024 | ||||||||||||||||
Income and performance ratios: | ||||||||||||||||||||
Net Income | $ | 2,929 | $ | 2,644 | $ | 2,323 | $ | 2,018 | $ | 2,089 | ||||||||||
Earnings per share - basic | 0.51 | 0.46 | 0.40 | 0.35 | 0.36 | |||||||||||||||
Return on average assets | 0.85 | % | 0.83 | % | 0.74 | % | 0.62 | % | 0.65 | % | ||||||||||
Return on average equity | 9.75 | % | 9.14 | % | 8.39 | % | 7.27 | % | 7.73 | % | ||||||||||
Loan yield | 5.69 | % | 5.64 | % | 5.62 | % | 5.45 | % | 5.52 | % | ||||||||||
Cost of funds | 1.48 | % | 1.50 | % | 1.49 | % | 1.63 | % | 1.66 | % | ||||||||||
Cost of deposits | 1.45 | % | 1.39 | % | 1.39 | % | 1.58 | % | 1.52 | % | ||||||||||
Net interest margin | 3.66 | % | 3.65 | % | 3.61 | % | 3.32 | % | 3.33 | % | ||||||||||
Efficiency ratio (b) | 65.89 | % | 67.26 | % | 70.20 | % | 71.18 | % | 74.06 | % | ||||||||||
Balance Sheet ratios: | ||||||||||||||||||||
Loan-to-deposit ratio | 82.64 | % | 90.17 | % | 87.65 | % | 88.92 | % | 86.18 | % | ||||||||||
Non-interest-bearing deposits / total deposits | 38.26 | % | 39.55 | % | 39.26 | % | 38.72 | % | 41.19 | % | ||||||||||
Demand deposits / total deposits | 52.61 | % | 51.44 | % | 49.52 | % | 49.22 | % | 51.48 | % | ||||||||||
Asset quality: | ||||||||||||||||||||
Allowance for credit losses | $ | 12,689 | $ | 12,496 | $ | 11,859 | $ | 11,572 | $ | 11,694 | ||||||||||
Nonperforming assets | 9,803 | 8,442 | 4,799 | 6,098 | 521 | |||||||||||||||
Allowance for credit losses / total loans and leases | 1.22 | % | 1.22 | % | 1.19 | % | 1.17 | % | 1.20 | % | ||||||||||
Net charge-offs / average loans and leases (annualized) | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||
Texas ratio (a) | 9.38 | % | 8.42 | % | 4.87 | % | 5.47 | % | 0.54 | % | ||||||||||
Capital ratios for American Riviera Bank(c): | ||||||||||||||||||||
Tier 1 risk-based capital | 12.56 | % | 13.39 | % | 13.34 | % | 13.21 | % | 12.93 | % | ||||||||||
Total risk-based capital | 13.77 | % | 14.59 | % | 14.51 | % | 14.36 | % | 14.05 | % | ||||||||||
Tier 1 leverage ratio | 10.69 | % | 11.78 | % | 11.55 | % | 11.17 | % | 11.15 | % | ||||||||||
Capital ratios for American Riviera Bancorp(c): | ||||||||||||||||||||
Tier 1 risk-based capital | 11.49 | % | 11.61 | % | 11.61 | % | 11.49 | % | 11.24 | % | ||||||||||
Total risk-based capital | 14.03 | % | 14.19 | % | 14.17 | % | 14.05 | % | 13.80 | % | ||||||||||
Tier 1 leverage ratio | 9.78 | % | 10.16 | % | 9.89 | % | 9.72 | % | 9.70 | % | ||||||||||
Tangible common equity ratio | 8.27 | % | 8.70 | % | 8.58 | % | 8.35 | % | 8.31 | % | ||||||||||
Equity and share related: | ||||||||||||||||||||
Common equity | $ | 122,054 | $ | 117,611 | $ | 115,106 | $ | 111,383 | $ | 112,125 | ||||||||||
Book value per share | 21.38 | 20.24 | 19.73 | 19.15 | 19.22 | |||||||||||||||
Tangible book value per share | 20.52 | 19.40 | 18.89 | 18.31 | 18.37 | |||||||||||||||
Tangible book value per share, excluding AOCI (d) | 23.10 | 22.49 | 22.00 | 21.69 | 21.22 | |||||||||||||||
Stock closing price per share | 21.99 | 19.27 | 19.16 | 20.00 | 19.40 | |||||||||||||||
Number of shares issued and outstanding | 5,708.96 | 5,810.04 | 5,833.25 | 5,815.82 | 5,833.83 | |||||||||||||||
Notes:
(a) Sum of Nonperforming Assets and Other Real Estate Owned, divided by the sum of Total Shareholder Equity and Total Allowance for Credit Losses less Preferred Stock and Intangible Assets.
(b) Annualized Operating Expense excluding Provision for Credit Losses minus Annualized Extraordinary Expense, divided by Annualized Interest Income including Loan Fees minus Annualized Interest Expense plus Annualized Non-Interest Income minus Annualized Extraordinary Income, expressed as a percentage.
(c) Current period capital ratios are preliminary.
(d) Accumulated Other Comprehensive Income (AOCI) is comprised of the tax adjusted unrealized loss on securities and is presented as Other Capital on the Balance Sheet.
SOURCE: American Riviera Bancorp
View the original press release on ACCESS Newswire
