American Riviera Bank Announces Results for the Second Quarter of 2026
News > Business News
Audio By Carbonatix
7:25 PM on Wednesday, July 22
The Associated Press
SANTA BARBARA, CA / ACCESS Newswire / July 22, 2026 / American Riviera Bancorp ("Company") (OTCQX:ARBV), holding company of American Riviera Bank ("Bank"), announced today unaudited net income of $7.3 million ($1.26 per share) for the six months ended June 30, 2026, an increase of 46.2% compared to $5.0 million ($0.86 per share) earned in the same reporting period in the previous year.
Unaudited net income was $3.3 million ($0.57 per share) for the three months ended June 30, 2026, compared to $4.0 million ($0.69 per share) in the previous quarter, and $2.6 million ($0.46 per share) earned in the same reporting period in the previous year. Net income pre-tax, pre-provision (non-GAAP) continued to increase, reaching $5.4 million for the three months ended June 30, 2026, compared to $5.2 million in the previous quarter, and $4.0 million in the same reporting period in the previous year.
Total deposits were $1.23 billion at June 30, 2026, an increase of $95.5 million or 8.4% from June 30, 2025. Total loans were $1.15 billion at June 30, 2026, an increase of $133.4 million or 13.1% from June 30, 2025. Total loans grew $72.0 million or 6.7% in the first half of 2026. Significant loan growth of $54.2 million in the most recent quarter necessitated a $1.0 million loan loss provision to maintain an appropriate allowance to total loans of 1.19% at June 30, 2026.
Jeff DeVine, President and CEO of the Company and the Bank stated, "American Riviera Bank recently celebrated our twenty-year business anniversary. Our vibrant Central Coast economy has made it possible for the Bank to significantly grow loans and substantially improve profitability over the prior year to date. We have our loyal clients, knowledgeable bankers and community to thank for this longevity and success."
Financial Highlights
Unaudited net income and earnings per share have improved 46.2% and 46.5%, respectively, from the first six months of 2025.
Return on average assets was 1.05%, return on average equity was 11.09% and efficiency ratio was 63.35% for the first six months of 2026.
Total shareholders' equity was $134.8 million at June 30, 2026, an increase of $17.2 million or 14.6% from the same reporting period in the previous year.
Tangible book value per share was $22.56 at June 30, 2026, an increase of $3.16 or 16.3% from the same reporting period in the previous year.
The Company's tangible common equity ratio was 9.04% at June 30, 2026, compared to 8.70% at June 30, 2025. Strong earnings and improvement in the market value of the securities portfolio were partially offset by cumulative share repurchases since June 30, 2025 totaling $2.0 million and the impact of 11.0% asset growth over the previous year.
Non-interest-bearing demand deposits were $479.3 million or 39.1% of total deposits at June 30, 2026, and have increased $31.7 million or 7.1% since June 30, 2025.
Total demand deposits were $638.1 million or 52.0% of total deposits at June 30, 2026, and have increased $56.0 million or 9.6% since June 30, 2025.
As a result of the Bank's core funding and relationship-based deposits, the cost of deposits and total cost of funds were 1.24% and 1.36%, respectively, for the second quarter of 2026. Total cost of funds has improved by 14 basis points from the 1.50% reported for the same quarter in the previous year.
Net interest margin ("NIM") increased to 4.01% for the second quarter of 2026, compared to 3.97% in the prior quarter, and has improved 36 basis points from the 3.65% reported for the same quarter in the previous year. NIM has improved as a result of steady loan yield improvement and continued low cost of funds.
On-balance sheet liquidity continues to be substantial with $192.1 million of cash, due from banks, and available-for-sale ("AFS") securities at market value as of June 30, 2026.
At June 30, 2026, the Bank's commercial real estate ("CRE") portfolio was diverse, with weighted average loan-to-values of 28% to 52% and weighted average debt coverage ratios between 1.85x and 3.10x depending on the individual CRE category as of the most recent CRE stress test in January 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 $7.9 million or 0.69% of total loans on non-accrual status, which are well supported by collateral, borrower assets, SBA guarantees, or specific reserves.
Second Quarter 2026 Earnings
For the second quarter of 2026, unaudited net income was $3.3 million, compared to $4.0 million reported in the first quarter of 2026, and $2.6 million reported in the second quarter of 2025. The decline in unaudited net income for the second quarter of 2026 was primarily due to an additional $1.0 million provision for credit losses due to significant loan growth in the quarter.
Unaudited net income pre-tax, pre-provision (non-GAAP) has increased sequentially over the last five quarters and was $5.4 million in the second quarter of 2026, a $0.2 million or 4.1% increase from the first quarter of 2026, and a $1.4 million or 34.4% increase from the $4.0 million reported in the second quarter of 2025.
The Bank has grown interest and fees on loans sequentially over the last five quarters from $14.2 million in the second quarter of 2025 to $16.3 million in the second quarter of 2026, representing a $2.1 million or 15.4% increase.
Total interest expense has remained stable at $4.3 million in the second quarter of 2026 and the second quarter of 2025, even though deposits have grown $95.5 million or 8.4% since the second quarter of 2025. Total interest expense has increased from the prior quarter due to increased borrowings to support loan growth.
Net interest income before provision in the second quarter of 2026 increased $2.2 million or 19.1% compared to the second quarter of 2025.
Non-Interest Income and Expense
Total non-interest income was $1.1 million for the second quarter of 2026, a decrease of $0.1 million from the prior quarter, and an increase of $0.2 million from the second quarter of the previous year. Variances between the quarters can be attributed to Federal Home Loan Bank ("FHLB") dividends, 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 $9.2 million for the second quarter of 2026, an increase from $9.1 million from the prior quarter, and an increase from the $8.3 million reported for the same quarter in the previous year. 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 $1.7 million or 10.1% for the first six months of 2026 versus the first six months of 2025, while net interest income before provision increased $4.1 million, or 18.3% for the comparison period.
Loans and Asset Quality
Total loans were $1.15 billion at June 30, 2026, an increase of $54.2 million or 4.9% from the prior quarter-end, and an increase of $133.4 million or 13.1% from June 30, 2025. The Bank's Allowance for Credit Losses ("ACL") was $13.7 million at June 30, 2026, with a resulting coverage ratio of 1.19%, an increase from the prior quarter of 1.16%. As of June 30, 2026, non-accrual loans totaled $7.9 million, a $0.1 million decrease from the previous quarter-end, and a $0.5 million decrease from the $8.4 million reported at June 30, 2025. All loans on non-accrual are well supported by collateral, borrower assets, SBA guarantees, or specific reserves.
Deposits & Borrowings
Total deposits were $1.23 billion at June 30, 2026, a $28.1 million or 2.2% decrease from the prior quarter-end, and an increase of $95.5 million or 8.4% from June 30, 2025. Deposit growth year-over-year was represented by core deposits, with no wholesale brokered funds at June 30, 2026.
Non-interest-bearing demand deposits totaled $479.3 million at June 30, 2026, an increase of $14.5 million or 3.1% from the prior quarter-end, and an increase of $31.7 million or 7.1% from June 30, 2025.
Interest-bearing demand deposits totaled $158.9 million at June 30, 2026, a decrease of $32.9 million or 17.2% from the prior quarter-end, and an increase of $24.3 million or 18.1% from June 30, 2025. Total demand deposits, including interest-bearing demand, represent 52.0% of total deposits at June 30, 2026, compared to 52.3% at the prior quarter-end, and 51.4% at June 30, 2025.
Other interest-bearing deposits totaled $588.8 million at June 30, 2026, a decrease of $9.6 million or 1.6% from the prior quarter-end, and an increase of $39.4 million or 7.2% from June 30, 2025.
The weighted average cost of deposits for the second quarter of 2026 increased 2 basis points to 1.24% from 1.22% for the first quarter of 2026 and decreased 15 basis points from the 1.39% reported for the same quarter of the previous year. The decrease in cost of deposits in the last year was due to significant growth in demand deposits, and the Federal Reserve's three 25 basis point rate cuts in the last four months of 2025.
The Company's total borrowings were $68.7 million at June 30, 2026, an increase of $42.5 million from the prior quarter-end and a $30.2 million increase from June 30, 2025. At June 30, 2026, the Company had $9.5 million outstanding on a correspondent loan at a rate of 3.85%, $16.2 million of subordinated notes outstanding at a rate of 3.75%, and $43.0 million of short-term, one month or less duration advances with a weighted average cost of 3.75%. The weighted average cost on all borrowings for the second quarter of 2026 was 3.81%, resulting in $0.5 million of interest expense on borrowings, an increase of $0.1 million compared to the prior quarter, and equal to the interest expense on borrowings for the second quarter of 2025.
Due to significant demand deposits balances and continued focus on maintaining and growing relationships, total cost of funds remained low at 1.36% for the second quarter of 2026, which was 6 basis points higher than the 1.30% reported for the previous quarter, but 14 basis points lower than the 1.50% reported for the same quarter of the previous year.
The Company's net interest margin improved to 4.01% for the second quarter of 2026, compared to 3.97% in the prior quarter, and improved a significant 36 basis points from the 3.65% reported for the same quarter of last year as a result of steady loan yield improvement and a decline in total cost of funds for the comparison period.
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 11.8% at June 30, 2026, compared to 14.7% at March 31, 2026. As of June 30, 2026, the Bank had available and unused, secured borrowing capacity with the FHLB of $403.7 million, and had available and unused, secured borrowing capacity with the Federal Reserve of $6.5 million. In addition, the Bank had $144.3 million of unused Fed funds lines of credit with correspondent banks at June 30, 2026. Available contingent funding sources of $554.5 million remain robust.
Overall uninsured deposits, excluding public agency deposits that are collateralized, are conservatively estimated to be $430.4 million, or 35.1% of total deposit balances as of June 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 $134.8 million at June 30, 2026, a $3.5 million or 2.7% increase since March 31, 2026, and an increase of $17.2 million or 14.6% 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"), was $14.0 million at June 30, 2026, and improved $3.9 million or 22.0% from June 30, 2025. The Bank fully expects to receive all principal when the investments mature.
As of June 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 share repurchase program. No shares were repurchased in the quarter ending June 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. 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. 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)
June 30, | June 30, | One Year | One Year | |||||||||||||
2026 | 2025 | $ Change | % Change | |||||||||||||
Assets | ||||||||||||||||
Cash & Due From Banks | $ | 27,964 | $ | 28,111 | $ | (147 | ) | -1 | % | |||||||
Available-for-sale securities | 164,117 | 162,089 | 2,028 | 1 | % | |||||||||||
Held-to-maturity securities, net | 41,469 | 41,392 | 77 | 0 | % | |||||||||||
Loans | 1,153,669 | 1,020,261 | 133,408 | 13 | % | |||||||||||
Allowance For Credit Losses | (13,733 | ) | (12,496 | ) | (1,237 | ) | 10 | % | ||||||||
Net Loans | 1,139,936 | 1,007,765 | 132,171 | 13 | % | |||||||||||
Premise & Equipment | 9,972 | 7,773 | 2,199 | 28 | % | |||||||||||
Operating Lease Right-of-Use Asset | 4,973 | 6,184 | (1,211 | ) | -20 | % | ||||||||||
Bank Owned Life Insurance | 14,329 | 12,370 | 1,959 | 16 | % | |||||||||||
Stock in Other Banks | 7,243 | 6,786 | 457 | - | ||||||||||||
Goodwill and Other Intangibles | 4,872 | 4,889 | (17 | ) | 0 | % | ||||||||||
Other Assets | 28,037 | 23,086 | 4,951 | 21 | % | |||||||||||
Total Assets | $ | 1,442,912 | $ | 1,300,445 | $ | 142,467 | 11 | % | ||||||||
Liabilities & Shareholders' Equity | ||||||||||||||||
Non-interest-bearing Demand Deposits | $ | 479,267 | $ | 447,534 | $ | 31,733 | 7 | % | ||||||||
Interest-bearing Demand Deposits | 158,852 | 134,538 | 24,314 | 18 | % | |||||||||||
Other Interest-bearing Deposits | 588,826 | 549,404 | 39,422 | 7 | % | |||||||||||
Total Deposits | 1,226,945 | 1,131,476 | 95,469 | 8 | % | |||||||||||
Borrowed Funds | 68,650 | 38,500 | 30,150 | 78 | % | |||||||||||
Allowance for credit losses on off-balance sheet exposures | 974 | 993 | (19 | ) | -2 | % | ||||||||||
Other Liabilities | 11,528 | 11,865 | (337 | ) | -3 | % | ||||||||||
Total Liabilities | 1,308,097 | 1,182,834 | 125,263 | 11 | % | |||||||||||
Common Stock | 67,203 | 67,914 | (711 | ) | -1 | % | ||||||||||
Retained Earnings | 81,617 | 67,645 | 13,972 | 21 | % | |||||||||||
Other Capital | (14,005 | ) | (17,948 | ) | 3,943 | 22 | % | |||||||||
Total Shareholders' Equity | 134,815 | 117,611 | 17,204 | 15 | % | |||||||||||
Total Liabilities & Shareholders' Equity | $ | 1,442,912 | $ | 1,300,445 | $ | 142,467 | 11 | % | ||||||||
American Riviera Bancorp and Subsidiaries
Balance Sheets (unaudited)
(dollars in thousands)
June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||||||||
2026 | 2026 | 2025 | 2025 | 2025 | ||||||||||||||||
Assets | ||||||||||||||||||||
Cash & Due From Banks | $ | 27,964 | $ | 66,678 | $ | 21,395 | $ | 128,753 | $ | 28,111 | ||||||||||
Available-for-sale securities | 164,117 | 164,958 | 169,793 | 164,459 | 162,089 | |||||||||||||||
Held-to-maturity securities | 41,469 | 41,450 | 41,430 | 41,411 | 41,392 | |||||||||||||||
Loans | 1,153,669 | 1,099,436 | 1,081,696 | 1,041,839 | 1,020,261 | |||||||||||||||
Allowance for Credit Losses | (13,733 | ) | (12,712 | ) | (12,689 | ) | (12,689 | ) | (12,496 | ) | ||||||||||
Net Loans | 1,139,936 | 1,086,724 | 1,069,007 | 1,029,150 | 1,007,765 | |||||||||||||||
Premise & Equipment | 9,972 | 7,108 | 7,255 | 7,494 | 7,773 | |||||||||||||||
Operating Lease Right-of-Use Asset | 4,973 | 5,280 | 5,584 | 5,885 | 6,184 | |||||||||||||||
Bank Owned Life Insurance | 14,329 | 14,193 | 14,051 | 12,489 | 12,370 | |||||||||||||||
Stock in Other Banks | 7,243 | 6,786 | 6,786 | 6,786 | 6,786 | |||||||||||||||
Goodwill and Other Intangibles | 4,872 | 4,873 | 4,871 | 4,883 | 4,889 | |||||||||||||||
Other Assets | 28,037 | 25,201 | 27,117 | 21,142 | 23,086 | |||||||||||||||
Total Assets | $ | 1,442,912 | $ | 1,423,251 | $ | 1,367,289 | $ | 1,422,452 | $ | 1,300,445 | ||||||||||
Liabilities & Shareholders' Equity | ||||||||||||||||||||
Non-interest-bearing Demand Deposits | $ | 479,267 | $ | 464,816 | $ | 451,721 | $ | 482,343 | $ | 447,534 | ||||||||||
Interest-bearing Demand Deposits | 158,852 | 191,756 | 168,399 | 180,930 | 134,538 | |||||||||||||||
Other Interest-bearing Deposits | 588,826 | 598,427 | 579,902 | 597,454 | 549,404 | |||||||||||||||
Total Deposits | 1,226,945 | 1,254,999 | 1,200,022 | 1,260,727 | 1,131,476 | |||||||||||||||
Borrowed Funds | 68,650 | 26,150 | 26,500 | 26,500 | 38,500 | |||||||||||||||
Allowance for credit losses on off-balance sheet exposures | 974 | 974 | 974 | 1,215 | 993 | |||||||||||||||
Other Liabilities | 11,528 | 9,822 | 12,123 | 11,956 | 11,865 | |||||||||||||||
Total Liabilities | 1,308,097 | 1,291,945 | 1,239,619 | 1,300,398 | 1,182,834 | |||||||||||||||
Common Stock | 67,203 | 66,858 | 67,263 | 68,493 | 67,914 | |||||||||||||||
Retained Earnings | 81,617 | 78,309 | 74,330 | 68,276 | 67,645 | |||||||||||||||
Other Capital | (14,005 | ) | (13,861 | ) | (13,923 | ) | (14,715 | ) | (17,948 | ) | ||||||||||
Total Shareholders' Equity | 134,815 | 131,306 | 127,670 | 122,054 | 117,611 | |||||||||||||||
Total Liabilities & Shareholders' Equity | $ | 1,442,912 | $ | 1,423,251 | $ | 1,367,289 | $ | 1,422,452 | $ | 1,300,445 | ||||||||||
American Riviera Bancorp and Subsidiaries
Average Balance Sheets (unaudited)
(dollars in thousands)
2Q 2026 | 1Q 2026 | 4Q 2025 | 3Q 2025 | 2Q 2025 | ||||||||||||||||
Average | Average | Average | Average | Average | ||||||||||||||||
Assets | ||||||||||||||||||||
Cash & Due From Banks | $ | 21,423 | $ | 26,222 | $ | 109,112 | $ | 70,822 | $ | 21,159 | ||||||||||
Available-for-sale securities | 164,624 | 168,770 | 166,373 | 162,709 | 166,833 | |||||||||||||||
Held-to-maturity securities | 41,455 | 41,436 | 41,416 | 41,397 | 41,414 | |||||||||||||||
Loans | 1,121,809 | 1,089,710 | 1,055,371 | 1,031,749 | 1,007,429 | |||||||||||||||
Allowance for Credit Losses | (12,790 | ) | (12,690 | ) | (12,689 | ) | (12,626 | ) | (12,010 | ) | ||||||||||
Net Loans | 1,109,019 | 1,077,020 | 1,042,682 | 1,019,123 | 995,419 | |||||||||||||||
Premise & Equipment | 7,154 | 7,212 | 7,392 | 7,666 | 7,910 | |||||||||||||||
Operating Lease Right-of-Use Asset | 5,162 | 5,467 | 5,762 | 6,057 | 4,636 | |||||||||||||||
Bank Owned Life Insurance | 14,282 | 14,141 | 13,762 | 12,448 | 12,330 | |||||||||||||||
Stock in Other Banks | 7,168 | 6,786 | 6,786 | 6,786 | 6,786 | |||||||||||||||
Goodwill and Other Intangibles | 4,876 | 4,870 | 4,877 | 4,887 | 4,894 | |||||||||||||||
Other Assets | 25,207 | 25,267 | 21,352 | 21,981 | 20,943 | |||||||||||||||
Total Assets | $ | 1,400,370 | $ | 1,377,191 | $ | 1,419,514 | $ | 1,353,876 | $ | 1,282,324 | ||||||||||
Liabilities & Shareholders' Equity | ||||||||||||||||||||
Non-interest-bearing Demand Deposits | $ | 452,972 | $ | 452,958 | $ | 476,473 | $ | 465,622 | $ | 433,652 | ||||||||||
Interest-bearing Demand Deposits | 158,369 | 156,074 | 156,271 | 150,042 | 120,062 | |||||||||||||||
Other Interest-bearing Deposits | 586,709 | 585,890 | 621,162 | 579,637 | 554,088 | |||||||||||||||
Total Deposits | 1,198,050 | 1,194,922 | 1,253,906 | 1,195,301 | 1,107,802 | |||||||||||||||
Borrowed Funds | 56,876 | 39,039 | 26,589 | 26,674 | 47,231 | |||||||||||||||
Allowance for credit losses on off-balance sheet exposures | 974 | 974 | 1,212 | 1,085 | 1,092 | |||||||||||||||
Other Liabilities | 10,747 | 11,857 | 13,149 | 12,052 | 10,208 | |||||||||||||||
Total Liabilities | 1,266,647 | 1,246,792 | 1,294,856 | 1,235,112 | 1,166,333 | |||||||||||||||
Common Stock | 67,064 | 67,159 | 68,695 | 68,413 | 68,092 | |||||||||||||||
Retained Earnings | 80,476 | 76,468 | 70,292 | 67,886 | 66,288 | |||||||||||||||
Other Capital | (13,817 | ) | (13,228 | ) | (14,329 | ) | (17,535 | ) | (18,389 | ) | ||||||||||
Total Shareholders' Equity | 133,723 | 130,399 | 124,658 | 118,764 | 115,991 | |||||||||||||||
Total Liabilities & Shareholders' Equity | $ | 1,400,370 | $ | 1,377,191 | $ | 1,419,514 | $ | 1,353,876 | $ | 1,282,324 | ||||||||||
American Riviera Bancorp and Subsidiaries
Statement of Income (unaudited)
(dollars in thousands, except per share data)
Quarter Ended | Six Months Ended | |||||||||||||||||||||||
June 30, | June 30, | June 30, | June 30, | |||||||||||||||||||||
2026 | 2025 | Change | 2026 | 2025 | Change | |||||||||||||||||||
Interest Income | ||||||||||||||||||||||||
Interest and Fees on Loans | $ | 16,345 | $ | 14,168 | 15 | % | $ | 31,839 | $ | 27,866 | 14 | % | ||||||||||||
Interest on Securities | 1,394 | 1,439 | -3 | % | 2,794 | 2,928 | -5 | % | ||||||||||||||||
Interest on Due From Banks | 68 | 82 | -17 | % | 180 | 244 | -26 | % | ||||||||||||||||
Total Interest Income | 17,807 | 15,689 | 13 | % | 34,813 | 31,038 | 12 | % | ||||||||||||||||
Interest Expense | ||||||||||||||||||||||||
Interest Expense on Deposits | 3,719 | 3,822 | -3 | % | 7,303 | 7,687 | -5 | % | ||||||||||||||||
Interest Expense on Borrowings | 540 | 487 | 11 | % | 914 | 860 | 6 | % | ||||||||||||||||
Total Interest Expense | 4,259 | 4,309 | -1 | % | 8,217 | 8,547 | -4 | % | ||||||||||||||||
Net Interest Income | 13,548 | 11,380 | 19 | % | 26,596 | 22,491 | 18 | % | ||||||||||||||||
Provision for Credit Losses | 1,020 | 634 | 61 | % | 1,043 | 921 | 13 | % | ||||||||||||||||
Provision for Off-Balance Sheet Credit Exposures | - | (133 | ) | -100 | % | - | (59 | ) | -100 | % | ||||||||||||||
Net Interest Income After Provision | 12,528 | 10,879 | 15 | % | 25,553 | 21,629 | 18 | % | ||||||||||||||||
Non-Interest Income | ||||||||||||||||||||||||
Service Charges, Commissions and Fees | 795 | 639 | 24 | % | 1,425 | 1,187 | 20 | % | ||||||||||||||||
Other Non-Interest Income | 292 | 247 | 18 | % | 863 | 514 | 68 | % | ||||||||||||||||
Total Non-Interest Income | 1,087 | 886 | 23 | % | 2,288 | 1,701 | 35 | % | ||||||||||||||||
Non-Interest Expense | ||||||||||||||||||||||||
Salaries and Employee Benefits | 5,670 | 5,250 | 8 | % | 11,477 | 10,648 | 8 | % | ||||||||||||||||
Occupancy and Equipment | 914 | 929 | -2 | % | 1,844 | 1,866 | -1 | % | ||||||||||||||||
Other Non-Interest Expense | 2,653 | 2,072 | 28 | % | 4,978 | 4,109 | 21 | % | ||||||||||||||||
Total Non-Interest Expense | 9,237 | 8,251 | 12 | % | 18,299 | 16,623 | 10 | % | ||||||||||||||||
Net Income Before Provision for Taxes | 4,378 | 3,514 | 25 | % | 9,542 | 6,707 | 42 | % | ||||||||||||||||
Provision for Taxes | 1,070 | 870 | 23 | % | 2,279 | 1,740 | 31 | % | ||||||||||||||||
Net Income | $ | 3,308 | $ | 2,644 | 25 | % | $ | 7,263 | $ | 4,967 | 46 | % | ||||||||||||
Shares Outstanding | 5,759,969 | 5,810,042 | -1 | % | 5,759,969 | 5,810,042 | -1 | % | ||||||||||||||||
Earnings Per Share - Basic | $ | 0.57 | $ | 0.46 | 24 | % | $ | 1.26 | $ | 0.86 | 47 | % | ||||||||||||
Return on Average Assets | 0.95 | % | 0.83 | % | 14 | % | 1.05 | % | 0.78 | % | 35 | % | ||||||||||||
Return on Average Equity | 9.92 | % | 9.14 | % | 9 | % | 11.09 | % | 8.74 | % | 27 | % | ||||||||||||
Net Interest Margin | 4.01 | % | 3.65 | % | 10 | % | 3.99 | % | 3.63 | % | 10 | % | ||||||||||||
American Riviera Bancorp and Subsidiaries
Five Quarter Statements of Income (unaudited)
(dollars in thousands, except per share data)
Three Months Ended | ||||||||||||||||||||
June, 30 | March 31, | December 31, | September 30, | June 30, | ||||||||||||||||
2026 | 2026 | 2025 | 2025 | 2025 | ||||||||||||||||
Interest Income | ||||||||||||||||||||
Interest and Fees on Loans | $ | 16,345 | $ | 15,494 | $ | 15,437 | $ | 14,789 | $ | 14,168 | ||||||||||
Interest on Securities | 1,394 | 1,400 | 1,378 | 1,340 | 1,439 | |||||||||||||||
Interest on Due From Banks | 68 | 112 | 962 | 621 | 82 | |||||||||||||||
Total Interest Income | 17,807 | 17,006 | 17,777 | 16,750 | 15,689 | |||||||||||||||
Interest Expense | ||||||||||||||||||||
Interest Expense on Deposits | 3,719 | 3,584 | 4,282 | 4,315 | 3,822 | |||||||||||||||
Interest Expense on Borrowings | 540 | 374 | 254 | 257 | 487 | |||||||||||||||
Total Interest Expense | 4,259 | 3,958 | 4,536 | 4,572 | 4,309 | |||||||||||||||
Net Interest Income | 13,548 | 13,048 | 13,241 | 12,178 | 11,380 | |||||||||||||||
Provision for Credit Losses | 1,020 | 23 | - | 194 | 634 | |||||||||||||||
Provision for Off-Balance Sheet Credit Exposures | - | - | (240 | ) | 221 | (133 | ) | |||||||||||||
Net Interest Income After Provision | 12,528 | 13,025 | 13,481 | 11,763 | 10,879 | |||||||||||||||
Non-Interest Income | ||||||||||||||||||||
Service Charges, Commissions and Fees | 795 | 630 | 609 | 631 | 639 | |||||||||||||||
Other Non-Interest Income | 292 | 571 | 284 | 289 | 247 | |||||||||||||||
Total Non-Interest Income | 1,087 | 1,201 | 893 | 920 | 886 | |||||||||||||||
Non-Interest Expense | ||||||||||||||||||||
Salaries and Employee Benefits | 5,670 | 5,807 | 5,744 | 5,467 | 5,250 | |||||||||||||||
Occupancy and Equipment | 914 | 930 | 917 | 922 | 929 | |||||||||||||||
Other Non-Interest Expense | 2,653 | 2,325 | 2,393 | 2,240 | 2,072 | |||||||||||||||
Total Non-Interest Expense | 9,237 | 9,062 | 9,054 | 8,629 | 8,251 | |||||||||||||||
Net Income Before Provision for Taxes | 4,378 | 5,164 | 5,320 | 4,054 | 3,514 | |||||||||||||||
Provision for Taxes | 1,070 | 1,209 | 772 | 1,125 | 870 | |||||||||||||||
Net Income | $ | 3,308 | $ | 3,955 | $ | 4,548 | $ | 2,929 | $ | 2,644 | ||||||||||
Shares Outstanding | 5,759,969 | 5,750,168 | 5,713,022 | 5,708,960 | 5,810,042 | |||||||||||||||
Earnings Per Share - Basic | $ | 0.57 | $ | 0.69 | $ | 0.80 | $ | 0.51 | $ | 0.46 | ||||||||||
Net Income pre-tax, pre-provision (Non-GAAP) | $ | 5,398 | $ | 5,187 | $ | 5,080 | $ | 4,469 | $ | 4,015 | ||||||||||
American Riviera Bancorp and Subsidiaries
Selected Financial Highlights (unaudited)
(dollars in thousands, except per share data)
At or for the Three Months Ended | ||||||||||||||||||||
June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||||||||
2026 | 2026 | 2025 | 2025 | 2025 | ||||||||||||||||
Income and performance ratios: | ||||||||||||||||||||
Net Income | $ | 3,308 | $ | 3,955 | $ | 4,549 | $ | 2,929 | $ | 2,644 | ||||||||||
Earnings per share - basic | 0.57 | 0.69 | 0.80 | 0.51 | 0.46 | |||||||||||||||
Return on average assets | 0.95 | % | 1.16 | % | 1.27 | % | 0.85 | % | 0.83 | % | ||||||||||
Return on average equity | 9.92 | % | 12.30 | % | 14.48 | % | 9.75 | % | 9.14 | % | ||||||||||
Return on tangible common equity | 10.29 | % | 12.77 | % | 15.06 | % | 10.22 | % | 9.54 | % | ||||||||||
Loan yield | 5.84 | % | 5.77 | % | 5.80 | % | 5.69 | % | 5.64 | % | ||||||||||
Cost of funds | 1.36 | % | 1.30 | % | 1.41 | % | 1.48 | % | 1.50 | % | ||||||||||
Cost of deposits | 1.24 | % | 1.22 | % | 1.29 | % | 1.45 | % | 1.39 | % | ||||||||||
Net interest margin | 4.01 | % | 3.97 | % | 3.81 | % | 3.66 | % | 3.65 | % | ||||||||||
Efficiency ratio (b) | 63.12 | % | 63.60 | % | 64.05 | % | 65.89 | % | 67.26 | % | ||||||||||
Balance Sheet ratios: | ||||||||||||||||||||
Loan-to-deposit ratio | 94.03 | % | 87.60 | % | 90.14 | % | 82.64 | % | 90.17 | % | ||||||||||
Non-interest-bearing deposits / total deposits | 39.06 | % | 37.04 | % | 37.64 | % | 38.26 | % | 39.55 | % | ||||||||||
Demand deposits / total deposits | 52.01 | % | 52.32 | % | 51.68 | % | 52.61 | % | 51.44 | % | ||||||||||
Asset quality: | ||||||||||||||||||||
Allowance for credit losses | $ | 13,733 | $ | 12,712 | $ | 12,689 | $ | 12,689 | $ | 12,496 | ||||||||||
Nonperforming assets | 7,888 | 8,013 | 8,116 | 9,803 | 8,442 | |||||||||||||||
Allowance for credit losses / total loans and leases | 1.19 | % | 1.16 | % | 1.17 | % | 1.22 | % | 1.22 | % | ||||||||||
Net charge-offs / average loans and leases (annualized) | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||
Texas ratio (a) | 6.78 | % | 7.04 | % | 7.37 | % | 9.38 | % | 8.42 | % | ||||||||||
Capital ratios for American Riviera Bank(c): | ||||||||||||||||||||
Tier 1 risk-based capital | 12.40 | % | 12.69 | % | 12.54 | % | 12.56 | % | 13.39 | % | ||||||||||
Total risk-based capital | 13.56 | % | 13.82 | % | 13.68 | % | 13.77 | % | 14.59 | % | ||||||||||
Tier 1 leverage ratio | 11.25 | % | 11.16 | % | 10.55 | % | 10.69 | % | 11.78 | % | ||||||||||
Capital ratios for American Riviera Bancorp (c): | ||||||||||||||||||||
Tier 1 risk-based capital | 11.36 | % | 11.63 | % | 11.48 | % | 11.49 | % | 11.61 | % | ||||||||||
Total risk-based capital | 13.72 | % | 14.02 | % | 13.93 | % | 14.03 | % | 14.19 | % | ||||||||||
Tier 1 leverage ratio | 10.32 | % | 10.22 | % | 9.66 | % | 9.78 | % | 10.16 | % | ||||||||||
Tangible common equity ratio | 9.04 | % | 8.91 | % | 9.01 | % | 8.27 | % | 8.70 | % | ||||||||||
Equity and share related: | ||||||||||||||||||||
Common equity | $ | 134,815 | $ | 131,306 | $ | 127,670 | $ | 122,054 | $ | 117,611 | ||||||||||
Book value per share | 23.41 | 22.84 | 22.35 | 21.38 | 20.24 | |||||||||||||||
Tangible book value per share | 22.56 | 21.99 | 21.49 | 20.52 | 19.40 | |||||||||||||||
Tangible book value per share, excluding AOCI (d) | 24.99 | 24.40 | 23.93 | 23.10 | 22.49 | |||||||||||||||
Stock closing price per share | 25.60 | 23.60 | 23.90 | 21.99 | 19.27 | |||||||||||||||
Number of shares issued and outstanding | 5,759.97 | 5,750.17 | 5,713.02 | 5,708.96 | 5,810.04 | |||||||||||||||
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
