SANTA BARBARA, CA / ACCESS Newswire / October 28, 2026 / American Riviera Bancorp ("Company") (OTCQX:ARBV), holding company of American Riviera Bank ("Bank"), announced today unaudited net income of $11.6 million ($2.01 per share) for the nine months ended September 30, 2026, an increase of 46.7% compared to $7.9 million ($1.38 per share) earned in the same reporting period in the previous year.
Unaudited net income was $4.3 million ($0.75 per share) for the three months ended September 30, 2026, compared to $3.3 million ($0.57 per share) in the previous quarter, and $2.9 million ($0.51 per share) earned in the same reporting period in the previous year. Net income pre-tax, pre-provision (non-GAAP) continued to increase, reaching $6.3 million for the three months ended September 30, 2026, compared to $5.4 million in the previous quarter, and $4.7 million in the same reporting period in the previous year. Earnings for the three months ended September 30, 2026, include $477,000 of non-recurring loan interest recovery.
Total deposits were $1.26 billion at September 30, 2026, an increase of $2.5 million or 0.2% from September 30, 2025. Total loans were $1.18 billion at September 30, 2026, an increase of $142.0 million or 13.6% from September 30, 2025. Total deposits grew $36.3 million or 3.0%, and loans grew $30.2 million or 2.6% in the third quarter of 2026.
Jeff DeVine, President and CEO of the Company and the Bank stated, "In our twentieth anniversary year, we are pleased to report record year to date earnings made possible by double digit loan growth in the communities we serve. Over the past year, efforts by our team have increased our loan to deposit ratio from 82.6% to 93.7% while maintaining strong credit quality and underwriting standards."
Financial Highlights
- Unaudited net income and earnings per share have improved 46.7% and 45.7%, respectively, from the first nine months of 2025.
- Return on average assets was 1.10%, return on average equity was 11.57% and efficiency ratio was 62.33% for the first nine months of 2026.
- Total shareholders' equity was $137.5 million at September 30, 2026, an increase of $15.4 million or 12.7% from the same reporting period in the previous year.
- Tangible book value per share was $23.02 at September 30, 2026, an increase of $2.50 or 12.2% from the same reporting period in the previous year.
- The Company's tangible common equity ratio was 9.02% at September 30, 2026, an increase from the 8.27% ratio reported for the same reporting period in the previous year.
- Non-interest-bearing demand deposits were $486.5 million or 38.5% of total deposits at September 30, 2026, and have increased $4.2 million or 0.9% since September 30, 2025.
- Total demand deposits were $658.3 million or 52.1% of total deposits at September 30, 2026, and have decreased $5.0 million or 0.8% since September 30, 2025.
- As a result of the Bank's core funding and relationship-based deposits, cost of deposits was 1.27% for the third quarter of 2026, an improvement of 18 basis points from the 1.45% reported for the same quarter in the previous year. However, cost of deposits has increased 3 basis points from the second quarter of 2026 primarily due to a competitive deposit rate environment.
- Cost of funds was 1.42% for the third quarter of 2026, an improvement of 6 basis points from the 1.48% reported for the same quarter in the previous year. However, cost of funds has increased 6 basis points from the second quarter of 2026 primarily due to increased average short-term borrowings carried to support loan growth.
- Net interest margin ("NIM") increased to 4.11% for the third quarter of 2026, compared to 4.01% in the prior quarter, and has improved 45 basis points from the 3.66% reported for the same quarter in the previous year. NIM has improved as a result of steady loan yield improvement and continued favorable cost of funds.
- On-balance sheet liquidity continues to be substantial with $192.9 million of cash, due from banks, and available-for-sale ("AFS") securities at market value as of September 30, 2026.
- At September 30, 2026, the Bank's commercial real estate ("CRE") portfolio was diverse, with weighted average loan-to-values of 28% to 55% and weighted average debt coverage ratios between 1.49x and 2.45x depending on the individual CRE category as of the most recent CRE stress test in July 2026.
- The Bank maintained strong credit quality with no other real estate owned, no loans 90 days or more past due and still accruing, and only $4.2 million or 0.35% of total loans on non-accrual status, which are well supported by collateral, borrower assets, SBA guarantees, or specific reserves.
Third Quarter 2026 Earnings
For the third quarter of 2026, unaudited net income was $4.3 million, compared to $3.3 million reported in the second quarter of 2026, and $2.9 million reported in the third quarter of 2025. The third quarter of 2026 includes $0.5 million of loan interest recovery related to one non-accrual loan that was sold.
Unaudited net income pre-tax, pre-provision (non-GAAP) has increased sequentially over the last five quarters and was $6.3 million in the third quarter of 2026, a $0.9 million or 16.0% increase from the second quarter of 2026, and a $1.8 million or 40.2% increase from the $4.5 million reported in the third quarter of 2025.
The Bank has grown interest and fees on loans sequentially over the last five quarters from $14.8 million in the third quarter of 2025 to $17.8 million in the third quarter of 2026, representing a $3.0 million or 20.6% increase.
Total interest expense has remained stable at $4.7 million in the third quarter of 2026 compared to $4.6 million for the third quarter of 2025. Total interest expense increased $0.4 million from the prior quarter primarily due to increased average short-term borrowings carried to support loan growth.
Net interest income before provision in the third quarter of 2026 increased $2.5 million or 20.1% compared to the third quarter of 2025.
Non-Interest Income and Expense
Total non-interest income was $1.2 million for the third quarter of 2026, an increase of $0.1 million from the prior quarter, and an increase of $0.3 million from the third quarter of 2025. Variances between the quarters can be attributed to Federal Home Loan Bank ("FHLB") dividends, SBA loan sale premiums, mortgage broker fees, loan prepayment fees and gains or losses on sale of securities.
Total non-interest expense was $9.6 million for the third quarter of 2026, an increase from the $9.2 million reported in the prior quarter, and an increase from the $8.6 million reported for the third quarter of 2025. Variances between the quarters can be attributed to changes in staffing, bonus accrual adjustments, operating losses and recoveries, and the timing of expenses related to advertising and events.
The Company has significantly improved operating leverage with total non-interest expense up only $2.6 million or 10.4% for the first nine months of 2026 versus the first nine months of 2025, while net interest income before provision increased $6.6 million, or 18.9% for the comparison period.
Loans and Asset Quality
Total loans were $1.18 billion at September 30, 2026, an increase of $30.2 million or 2.6% from the prior quarter-end, and an increase of $142.0 million or 13.6% from September 30, 2025.
The Bank's Allowance for Credit Losses ("ACL") was $14.3 million at September 30, 2026, with a resulting coverage ratio of 1.21%, an increase from the prior quarter coverage ratio of 1.19%. As of September 30, 2026, non-accrual loans totaled only $4.2 million, a $3.7 million decrease from the previous quarter-end, and a $5.6 million decrease from the $9.8 million reported at September 30, 2025. 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, 2026, a $36.3 million or 3.0% increase from the prior quarter-end, and an increase of $2.5 million or 0.2% from September 30, 2025. Deposit growth quarter-over-quarter was primarily from core deposits, with only $5.0 million of wholesale brokered deposits accepted at September 30, 2026.
Non-interest-bearing demand deposits totaled $486.5 million at September 30, 2026, an increase of $7.3 million or 1.5% from the prior quarter-end, and an increase of $4.2 million or 0.9% from September 30, 2025.
Interest-bearing demand deposits totaled $171.8 million at September 30, 2026, an increase of $12.9 million or 8.1% from the prior quarter-end, and a decrease of $9.2 million or 5.1% from September 30, 2025. Total demand deposits, including interest-bearing demand, represent 52.1% of total deposits at September 30, 2026, compared to 52.0% at the prior quarter-end, and 52.6% at September 30, 2025.
Other interest-bearing deposits totaled $604.9 million at September 30, 2026, an increase of $16.1 million or 2.7% from the prior quarter-end, and an increase of $7.5 million or 1.3% from September 30, 2025.
The weighted average cost of deposits for the third quarter of 2026 increased 3 basis points to 1.27% from 1.24% for the second quarter of 2026 and decreased 18 basis points from the 1.45% reported for the same quarter of the previous year. The decrease in cost of deposits in the last year was due to the Federal Reserve's three 25 basis point rate cuts in the last four months of 2025 which carried into 2026. The recent increase in cost of deposits is primarily due to a competitive deposit rate environment.
The Company's total borrowings were $60.7 million at September 30, 2026, a decrease of $8.0 million from the prior quarter-end and a $34.2 million increase from September 30, 2025 to support loan growth. At September 30, 2026, the Company had $9.5 million outstanding on a correspondent bank loan at a rate of 3.85%, $16.2 million of subordinated notes outstanding at a rate of 3.75%, and $35.0 million of short-term, one month or less duration advances with a weighted average cost of 4.00%. The weighted average cost on all borrowings for the third quarter of 2026 was 3.85%, resulting in $0.7 million of interest expense on borrowings, an increase of $0.2 million compared to the prior quarter, and an increase of $0.5 million compared to the interest expense on borrowings for the third quarter of 2025.
Due to favorable demand deposit mix and continued focus on maintaining and growing relationships, total cost of funds remained low at 1.42% for the third quarter of 2026, which was 6 basis points higher than the 1.36% reported for the previous quarter, but 6 basis points lower than the 1.48% reported for the third quarter of 2025.
The Company's net interest margin improved to 4.11% for the third quarter of 2026, compared to 4.01% in the prior quarter, and improved a significant 45 basis points from the 3.66% reported for the same quarter of last year as a result of steady loan yield improvement and a decline in total cost of funds. Net interest margin for the third quarter of 2026 adjusted to exclude $477,000 of non-recurring loan interest recovery was 4.02%.
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 11.7% at September 30, 2026, compared to 11.8% at June 30, 2026. As of September 30, 2026, the Bank had $545.0 million of available contingent funding sources.
Overall uninsured deposits, excluding public agency deposits that are collateralized, are conservatively estimated to be $439.6 million, or 34.8% of total deposit balances as of September 30, 2026. 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 $137.5 million at September 30, 2026, a $2.7 million or 2.0% increase since June 30, 2026, and an increase of $15.4 million or 12.7% from the same quarter in the previous year. The tax adjusted unrealized loss on securities, which is a component of equity (accumulated other comprehensive income or "AOCI"), was $16.0 million at September 30, 2026, and has increased $1.3 million or 8.7% from September 30, 2025. The Bank fully expects to receive all principal when the securities mature.
As of September 30, 2026, the Company had repurchased a cumulative 130,616 shares of common stock at a weighted average cost of $19.80, leaving $2.4 million available for repurchase under the existing share repurchase program. No shares were repurchased in the quarter ending September 30, 2026.
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. In December 2025, the Bank opened a lending center in the City of Ventura and anticipates opening a full-service branch in early 2027. 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 fifteen consecutive years has been recognized for strong financial performance by the Findley Reports. The Bank is rated "Outstanding" by the Federal Deposit Insurance Corporation for its performance under the Community Reinvestment Act. #BankonBetter #OTCQX
American Riviera Bank
www.americanriviera.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 | |||||||||||||
| 2026 | 2025 | $ Change | % Change | |||||||||||||
| Assets | ||||||||||||||||
| Cash & Due From Banks | $ | 34,867 | $ | 128,753 | $ | (93,886 | ) | -73 | % | |||||||
| Available-for-sale securities | 158,045 | 164,459 | (6,414 | ) | -4 | % | ||||||||||
| Held-to-maturity securities, net | 41,489 | 41,411 | 78 | 0 | % | |||||||||||
| Loans | 1,183,819 | 1,041,839 | 141,980 | 14 | % | |||||||||||
| Allowance For Credit Losses | (14,348 | ) | (12,689 | ) | (1,659 | ) | 13 | % | ||||||||
| Net Loans | 1,169,471 | 1,029,150 | 140,321 | 14 | % | |||||||||||
| Premise & Equipment | 9,780 | 7,494 | 2,286 | 31 | % | |||||||||||
| Operating Lease Right-of-Use Asset | 4,663 | 5,885 | (1,222 | ) | -21 | % | ||||||||||
| Bank Owned Life Insurance | 14,474 | 12,489 | 1,985 | 16 | % | |||||||||||
| Stock in Other Banks | 7,243 | 6,786 | 457 | 7 | % | |||||||||||
| Goodwill and Other Intangibles | 4,887 | 4,883 | 4 | 0 | % | |||||||||||
| Other Assets | 30,003 | 21,142 | 8,861 | 42 | % | |||||||||||
| Total Assets | $ | 1,474,922 | $ | 1,422,452 | $ | 52,470 | 4 | % | ||||||||
| Liabilities & Shareholders' Equity | ||||||||||||||||
| Non-interest-bearing Demand Deposits | $ | 486,542 | $ | 482,343 | $ | 4,199 | 1 | % | ||||||||
| Interest-bearing Demand Deposits | 171,756 | 180,930 | (9,174 | ) | -5 | % | ||||||||||
| Other Interest-bearing Deposits | 604,927 | 597,454 | 7,473 | 1 | % | |||||||||||
| Total Deposits | 1,263,225 | 1,260,727 | 2,498 | 0 | % | |||||||||||
| Borrowed Funds | 60,650 | 26,500 | 34,150 | 129 | % | |||||||||||
| Allowance for credit losses on off-balance sheet exposures | 776 | 1,215 | (439 | ) | -36 | % | ||||||||||
| Other Liabilities | 12,777 | 11,956 | 821 | 7 | % | |||||||||||
| Total Liabilities | 1,337,428 | 1,300,398 | 37,030 | 3 | % | |||||||||||
| Common Stock | 67,552 | 68,493 | (941 | ) | -1 | % | ||||||||||
| Retained Earnings | 85,936 | 68,276 | 17,660 | 26 | % | |||||||||||
| Other Capital | (15,994 | ) | (14,715 | ) | (1,279 | ) | -9 | % | ||||||||
| Total Shareholders' Equity | 137,494 | 122,054 | 15,440 | 13 | % | |||||||||||
| Total Liabilities & Shareholders' Equity | $ | 1,474,922 | $ | 1,422,452 | $ | 52,470 | 4 | % | ||||||||
| American Riviera Bancorp and Subsidiaries | ||||||||||||||||||||
| Balance Sheets (unaudited) | ||||||||||||||||||||
| (dollars in thousands) | ||||||||||||||||||||
| September 30, | June 30, | March 31, | December 31, | September 30, | ||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | ||||||||||||||||
| Assets | ||||||||||||||||||||
| Cash & Due From Banks | $ | 34,867 | $ | 27,964 | $ | 66,678 | $ | 21,395 | $ | 128,753 | ||||||||||
| Available-for-sale securities | 158,045 | 164,117 | 164,958 | 169,793 | 164,459 | |||||||||||||||
| Held-to-maturity securities | 41,489 | 41,469 | 41,450 | 41,430 | 41,411 | |||||||||||||||
| Loans | 1,183,819 | 1,153,669 | 1,099,436 | 1,081,696 | 1,041,839 | |||||||||||||||
| Allowance for Credit Losses | (14,348 | ) | (13,733 | ) | (12,712 | ) | (12,689 | ) | (12,689 | ) | ||||||||||
| Net Loans | 1,169,471 | 1,139,936 | 1,086,724 | 1,069,007 | 1,029,150 | |||||||||||||||
| Premise & Equipment | 9,780 | 9,972 | 7,108 | 7,255 | 7,494 | |||||||||||||||
| Operating Lease Right-of-Use Asset | 4,663 | 4,973 | 5,280 | 5,584 | 5,885 | |||||||||||||||
| Bank Owned Life Insurance | 14,474 | 14,329 | 14,193 | 14,051 | 12,489 | |||||||||||||||
| Stock in Other Banks | 7,243 | 7,243 | 6,786 | 6,786 | 6,786 | |||||||||||||||
| Goodwill and Other Intangibles | 4,887 | 4,872 | 4,873 | 4,871 | 4,883 | |||||||||||||||
| Other Assets | 30,003 | 28,037 | 25,201 | 27,117 | 21,142 | |||||||||||||||
| Total Assets | $ | 1,474,922 | $ | 1,442,912 | $ | 1,423,251 | $ | 1,367,289 | $ | 1,422,452 | ||||||||||
| Liabilities & Shareholders' Equity | ||||||||||||||||||||
| Non-interest-bearing Demand Deposits | $ | 486,542 | $ | 479,267 | $ | 464,816 | $ | 451,721 | $ | 482,343 | ||||||||||
| Interest-bearing Demand Deposits | 171,756 | 158,852 | 191,756 | 168,399 | 180,930 | |||||||||||||||
| Other Interest-bearing Deposits | 604,927 | 588,826 | 598,427 | 579,902 | 597,454 | |||||||||||||||
| Total Deposits | 1,263,225 | 1,226,945 | 1,254,999 | 1,200,022 | 1,260,727 | |||||||||||||||
| Borrowed Funds | 60,650 | 68,650 | 26,150 | 26,500 | 26,500 | |||||||||||||||
| Allowance for credit losses on off-balance sheet exposures | 776 | 974 | 974 | 974 | 1,215 | |||||||||||||||
| Other Liabilities | 12,777 | 11,528 | 9,822 | 12,123 | 11,956 | |||||||||||||||
| Total Liabilities | 1,337,428 | 1,308,097 | 1,291,945 | 1,239,619 | 1,300,398 | |||||||||||||||
| Common Stock | 67,552 | 67,203 | 66,858 | 67,263 | 68,493 | |||||||||||||||
| Retained Earnings | 85,936 | 81,617 | 78,309 | 74,330 | 68,276 | |||||||||||||||
| Other Capital | (15,994 | ) | (14,005 | ) | (13,861 | ) | (13,923 | ) | (14,715 | ) | ||||||||||
| Total Shareholders' Equity | 137,494 | 134,815 | 131,306 | 127,670 | 122,054 | |||||||||||||||
| Total Liabilities & Shareholders' Equity | $ | 1,474,922 | $ | 1,442,912 | $ | 1,423,251 | $ | 1,367,289 | $ | 1,422,452 | ||||||||||
| American Riviera Bancorp and Subsidiaries | ||||||||||||||||||||
| Average Balance Sheets (unaudited) | ||||||||||||||||||||
| (dollars in thousands) | ||||||||||||||||||||
| 3Q 2026 | 2Q 2026 | 1Q 2026 | 4Q 2025 | 3Q 2025 | ||||||||||||||||
| Average | Average | Average | Average | Average | ||||||||||||||||
| Assets | ||||||||||||||||||||
| Cash & Due From Banks | $ | 26,844 | $ | 21,423 | $ | 26,222 | $ | 109,112 | $ | 70,822 | ||||||||||
| Available-for-sale securities | 162,810 | 164,624 | 168,770 | 166,373 | 162,709 | |||||||||||||||
| Held-to-maturity securities | 41,475 | 41,455 | 41,436 | 41,416 | 41,397 | |||||||||||||||
| Loans | 1,173,527 | 1,121,809 | 1,089,710 | 1,055,371 | 1,031,749 | |||||||||||||||
| Allowance for Credit Losses | (13,874 | ) | (12,790 | ) | (12,690 | ) | (12,689 | ) | (12,626 | ) | ||||||||||
| Net Loans | 1,159,653 | 1,109,019 | 1,077,020 | 1,042,682 | 1,019,123 | |||||||||||||||
| Premise & Equipment | 9,902 | 7,154 | 7,212 | 7,392 | 7,666 | |||||||||||||||
| Operating Lease Right-of-Use Asset | 4,861 | 5,162 | 5,467 | 5,762 | 6,057 | |||||||||||||||
| Bank Owned Life Insurance | 14,424 | 14,282 | 14,141 | 13,762 | 12,448 | |||||||||||||||
| Stock in Other Banks | 7,243 | 7,168 | 6,786 | 6,786 | 6,786 | |||||||||||||||
| Goodwill and Other Intangibles | 4,870 | 4,876 | 4,870 | 4,877 | 4,887 | |||||||||||||||
| Other Assets | 28,052 | 25,207 | 25,267 | 21,352 | 21,981 | |||||||||||||||
| Total Assets | $ | 1,460,134 | $ | 1,400,370 | $ | 1,377,191 | $ | 1,419,514 | $ | 1,353,876 | ||||||||||
| Liabilities & Shareholders' Equity | ||||||||||||||||||||
| Non-interest-bearing Demand Deposits | $ | 474,956 | $ | 452,972 | $ | 452,958 | $ | 476,473 | $ | 465,622 | ||||||||||
| Interest-bearing Demand Deposits | 158,359 | 158,369 | 156,074 | 156,271 | 150,042 | |||||||||||||||
| Other Interest-bearing Deposits | 600,189 | 586,709 | 585,890 | 621,162 | 579,637 | |||||||||||||||
| Total Deposits | 1,233,504 | 1,198,050 | 1,194,922 | 1,253,906 | 1,195,301 | |||||||||||||||
| Borrowed Funds | 75,677 | 56,876 | 39,039 | 26,589 | 26,674 | |||||||||||||||
| Allowance for credit losses on off-balance sheet exposures | 981 | 974 | 974 | 1,212 | 1,085 | |||||||||||||||
| Other Liabilities | 12,644 | 10,747 | 11,857 | 13,149 | 12,052 | |||||||||||||||
| Total Liabilities | 1,322,806 | 1,266,647 | 1,246,792 | 1,294,856 | 1,235,112 | |||||||||||||||
| Common Stock | 67,405 | 67,064 | 67,159 | 68,695 | 68,413 | |||||||||||||||
| Retained Earnings | 84,185 | 80,476 | 76,468 | 70,292 | 67,886 | |||||||||||||||
| Other Capital | (14,262 | ) | (13,817 | ) | (13,228 | ) | (14,329 | ) | (17,535 | ) | ||||||||||
| Total Shareholders' Equity | 137,328 | 133,723 | 130,399 | 124,658 | 118,764 | |||||||||||||||
| Total Liabilities & Shareholders' Equity | $ | 1,460,134 | $ | 1,400,370 | $ | 1,377,191 | $ | 1,419,514 | $ | 1,353,876 | ||||||||||
| 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, | |||||||||||||||||||||
| 2026 | 2025 | Change | 2026 | 2025 | Change | |||||||||||||||||||
| Interest Income | ||||||||||||||||||||||||
| Interest and Fees on Loans | $ | 17,834 | $ | 14,789 | 21 | % | $ | 49,673 | $ | 42,655 | 16 | % | ||||||||||||
| Interest on Securities | 1,347 | 1,340 | 1 | % | 4,141 | 4,268 | -3 | % | ||||||||||||||||
| Interest on Due From Banks | 128 | 621 | -79 | % | 308 | 865 | -64 | % | ||||||||||||||||
| Total Interest Income | 19,309 | 16,750 | 15 | % | 54,122 | 47,788 | 13 | % | ||||||||||||||||
| Interest Expense | ||||||||||||||||||||||||
| Interest Expense on Deposits | 3,945 | 4,315 | -9 | % | 11,248 | 12,002 | -6 | % | ||||||||||||||||
| Interest Expense on Borrowings | 734 | 257 | 186 | % | 1,648 | 1,117 | 48 | % | ||||||||||||||||
| Total Interest Expense | 4,679 | 4,572 | 2 | % | 12,896 | 13,119 | -2 | % | ||||||||||||||||
| Net Interest Income | 14,630 | 12,178 | 20 | % | 41,226 | 34,669 | 19 | % | ||||||||||||||||
| Provision for Credit Losses | 616 | 194 | 218 | % | 1,659 | 1,115 | 49 | % | ||||||||||||||||
| Provision for Off-Balance Sheet Credit Exposures | (198 | ) | 221 | -190 | % | (198 | ) | 162 | -222 | % | ||||||||||||||
| Net Interest Income After Provision | 14,212 | 11,763 | 21 | % | 39,765 | 33,392 | 19 | % | ||||||||||||||||
| Non-Interest Income | ||||||||||||||||||||||||
| Service Charges, Commissions and Fees | 768 | 631 | 22 | % | 2,193 | 1,818 | 21 | % | ||||||||||||||||
| Other Non-Interest Income | 440 | 289 | 52 | % | 1,303 | 803 | 62 | % | ||||||||||||||||
| Total Non-Interest Income | 1,208 | 920 | 31 | % | 3,496 | 2,621 | 33 | % | ||||||||||||||||
| Non-Interest Expense | ||||||||||||||||||||||||
| Salaries and Employee Benefits | 6,075 | 5,467 | 11 | % | 17,552 | 16,115 | 9 | % | ||||||||||||||||
| Occupancy and Equipment | 998 | 922 | 8 | % | 2,842 | 2,788 | 2 | % | ||||||||||||||||
| Other Non-Interest Expense | 2,501 | 2,240 | 12 | % | 7,479 | 6,349 | 18 | % | ||||||||||||||||
| Total Non-Interest Expense | 9,574 | 8,629 | 11 | % | 27,873 | 25,252 | 10 | % | ||||||||||||||||
| Net Income Before Provision for Taxes | 5,846 | 4,054 | 44 | % | 15,388 | 10,761 | 43 | % | ||||||||||||||||
| Provision for Taxes | 1,528 | 1,125 | 36 | % | 3,807 | 2,865 | 33 | % | ||||||||||||||||
| Net Income | $ | 4,318 | $ | 2,929 | 47 | % | $ | 11,581 | $ | 7,896 | 47 | % | ||||||||||||
| Shares Outstanding | 5,759,589 | 5,708,960 | 1 | % | 5,759,589 | 5,708,960 | 1 | % | ||||||||||||||||
| Earnings Per Share - Basic | $ | 0.75 | $ | 0.51 | 47 | % | $ | 2.01 | $ | 1.38 | 46 | % | ||||||||||||
| Return on Average Assets | 1.17 | % | 0.85 | % | 38 | % | 1.10 | % | 0.81 | % | 36 | % | ||||||||||||
| Return on Average Equity | 12.47 | % | 9.75 | % | 28 | % | 11.57 | % | 9.13 | % | 27 | % | ||||||||||||
| Net Interest Margin | 4.11 | % | 3.66 | % | 12 | % | 4.03 | % | 3.64 | % | 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, | ||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | ||||||||||||||||
| Interest Income | ||||||||||||||||||||
| Interest and Fees on Loans | $ | 17,834 | $ | 16,345 | $ | 15,494 | $ | 15,437 | $ | 14,789 | ||||||||||
| Interest on Securities | 1,347 | 1,394 | 1,400 | 1,378 | 1,340 | |||||||||||||||
| Interest on Due From Banks | 128 | 68 | 112 | 962 | 621 | |||||||||||||||
| Total Interest Income | 19,309 | 17,807 | 17,006 | 17,777 | 16,750 | |||||||||||||||
| Interest Expense | ||||||||||||||||||||
| Interest Expense on Deposits | 3,945 | 3,719 | 3,584 | 4,282 | 4,315 | |||||||||||||||
| Interest Expense on Borrowings | 734 | 540 | 374 | 254 | 257 | |||||||||||||||
| Total Interest Expense | 4,679 | 4,259 | 3,958 | 4,536 | 4,572 | |||||||||||||||
| Net Interest Income | 14,630 | 13,548 | 13,048 | 13,241 | 12,178 | |||||||||||||||
| Provision for Credit Losses | 616 | 1,020 | 23 | - | 194 | |||||||||||||||
| Provision for Off-Balance Sheet Credit Exposures | (198 | ) | - | - | (240 | ) | 221 | |||||||||||||
| Net Interest Income After Provision | 14,212 | 12,528 | 13,025 | 13,481 | 11,763 | |||||||||||||||
| Non-Interest Income | ||||||||||||||||||||
| Service Charges, Commissions and Fees | 768 | 795 | 630 | 609 | 631 | |||||||||||||||
| Other Non-Interest Income | 440 | 292 | 571 | 284 | 289 | |||||||||||||||
| Total Non-Interest Income | 1,208 | 1,087 | 1,201 | 893 | 920 | |||||||||||||||
| Non-Interest Expense | ||||||||||||||||||||
| Salaries and Employee Benefits | 6,075 | 5,670 | 5,807 | 5,744 | 5,467 | |||||||||||||||
| Occupancy and Equipment | 998 | 914 | 930 | 917 | 922 | |||||||||||||||
| Other Non-Interest Expense | 2,501 | 2,653 | 2,325 | 2,393 | 2,240 | |||||||||||||||
| Total Non-Interest Expense | 9,574 | 9,237 | 9,062 | 9,054 | 8,629 | |||||||||||||||
| Net Income Before Provision for Taxes | 5,846 | 4,378 | 5,164 | 5,320 | 4,054 | |||||||||||||||
| Provision for Taxes | 1,528 | 1,070 | 1,209 | 772 | 1,125 | |||||||||||||||
| Net Income | $ | 4,318 | $ | 3,308 | $ | 3,955 | $ | 4,548 | $ | 2,929 | ||||||||||
| Shares Outstanding | 5,759,589 | 5,759,969 | 5,750,168 | 5,713,022 | 5,708,960 | |||||||||||||||
| Earnings Per Share - Basic | $ | 0.75 | $ | 0.57 | $ | 0.69 | $ | 0.80 | $ | 0.51 | ||||||||||
| Net Income pre-tax, pre-provision (Non-GAAP) | $ | 6,264 | $ | 5,398 | $ | 5,187 | $ | 5,080 | $ | 4,469 | ||||||||||
| 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, | ||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | ||||||||||||||||
| Income and performance ratios: | ||||||||||||||||||||
| Net Income | $ | 4,318 | $ | 3,308 | $ | 3,955 | $ | 4,549 | $ | 2,929 | ||||||||||
| Earnings per share - basic | 0.75 | 0.57 | 0.69 | 0.80 | 0.51 | |||||||||||||||
| Return on average assets | 1.17 | % | 0.95 | % | 1.16 | % | 1.27 | % | 0.85 | % | ||||||||||
| Return on average equity | 12.47 | % | 9.92 | % | 12.30 | % | 14.48 | % | 9.75 | % | ||||||||||
| Return on average tangible common equity | 12.92 | % | 10.29 | % | 12.77 | % | 15.06 | % | 10.22 | % | ||||||||||
| Loan yield | 6.03 | % | 5.84 | % | 5.77 | % | 5.80 | % | 5.69 | % | ||||||||||
| Cost of funds | 1.42 | % | 1.36 | % | 1.30 | % | 1.41 | % | 1.48 | % | ||||||||||
| Cost of deposits | 1.27 | % | 1.24 | % | 1.22 | % | 1.29 | % | 1.45 | % | ||||||||||
| Net interest margin | 4.11 | % | 4.01 | % | 3.97 | % | 3.81 | % | 3.66 | % | ||||||||||
| Efficiency ratio (b) | 60.45 | % | 63.12 | % | 63.60 | % | 64.05 | % | 65.89 | % | ||||||||||
| Balance Sheet ratios: | ||||||||||||||||||||
| Loan-to-deposit ratio | 93.71 | % | 94.03 | % | 87.60 | % | 90.14 | % | 82.64 | % | ||||||||||
| Non-interest-bearing deposits / total deposits | 38.52 | % | 39.06 | % | 37.04 | % | 37.64 | % | 38.26 | % | ||||||||||
| Demand deposits / total deposits | 52.11 | % | 52.01 | % | 52.32 | % | 51.68 | % | 52.61 | % | ||||||||||
| Asset quality: | ||||||||||||||||||||
| Allowance for credit losses | $ | 14,348 | $ | 13,733 | $ | 12,712 | $ | 12,689 | $ | 12,689 | ||||||||||
| Nonperforming assets | 4,196 | 7,888 | 8,013 | 8,116 | 9,803 | |||||||||||||||
| Allowance for credit losses / total loans and leases | 1.21 | % | 1.19 | % | 1.16 | % | 1.17 | % | 1.22 | % | ||||||||||
| Net charge-offs / average loans and leases (annualized) | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||
| Texas ratio (a) | 3.55 | % | 6.78 | % | 7.04 | % | 7.37 | % | 9.38 | % | ||||||||||
| Capital ratios (c): | ||||||||||||||||||||
| Community bank leverage ratio (Bank) | 11.13 | % | 11.25 | % | 11.16 | % | 10.55 | % | 10.69 | % | ||||||||||
| Tangible common equity ratio (Company) | 9.02 | % | 9.04 | % | 8.91 | % | 9.01 | % | 8.27 | % | ||||||||||
| Equity and share related: | ||||||||||||||||||||
| Common equity | $ | 137,494 | $ | 134,815 | $ | 131,306 | $ | 127,670 | $ | 122,054 | ||||||||||
| Book value per share | 23.87 | 23.41 | 22.84 | 22.35 | 21.38 | |||||||||||||||
| Tangible book value per share | 23.02 | 22.56 | 21.99 | 21.49 | 20.52 | |||||||||||||||
| Tangible book value per share, excluding AOCI (d) | 25.80 | 24.99 | 24.40 | 23.93 | 23.10 | |||||||||||||||
| Stock closing price per share | 28.65 | 25.60 | 23.60 | 23.90 | 21.99 | |||||||||||||||
| Number of shares issued and outstanding | 5,759.59 | 5,759.97 | 5,750.17 | 5,713.02 | 5,708.96 | |||||||||||||||
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