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Investment Supports Local Economy and Businesses
Rancho Cordova, Calif, April 16, 2018 - The Rancho Cordova City Council voted to invest $5 million each into Five Star Bank and American River Bank in connection with the Responsible Investment for a Stronger Economy (RISE) initiative.
“The decision to invest millions in local banks underscores the City of Rancho Cordova’s commitment to supporting our local economy and businesses,” says Mayor of Rancho Cordova, Linda Budge. “The RISE program is built on the strong presence of local banks in the community, which have been beneficial for the City’s economic growth and development, while also meeting the individual needs of our residents.”
3/23/2018 - Sacramento, CA, March 23, 2018 – The Board of Directors of American River Bankshares (NASDAQ – GS: AMRB) today announced that it has appointed Nicolas Anderson to the American River Bankshares Board. In addition, the Company has also appointed Mr. Anderson to the Board of American River Bank.
“Nic’s successful track record in investment banking and financial services as well as his achievements in innovative digital arenas will add key insights to our Board of Directors,” said David E. Ritchie, Jr., President and CEO of American River Bankshares. “He is a strategic thought leader and his entrepreneurial experience will provide valuable insight and contribution to our Board of Directors.”
1/26/2018 - Sacramento, CA, January 25, 2018 – American River Bankshares (NASDAQ-GS: AMRB) today reported a net loss of $392,000, or ($0.06) per diluted share for the fourth quarter of 2017 compared to net income of $1.9 million, or $0.29 per diluted share for the fourth quarter of 2016. For the twelve months ended December 31, 2017, net income was $3.2 million or $0.50 per diluted share, compared to $6.4 million or $0.94 per diluted share for the twelve months ended December 31, 2016.
1/26/2018 - Sacramento, CA, January 25, 2018 – American River Bankshares (NASDAQ-GS: AMRB) today announced that the Board of Directors has approved and authorized a new Stock Repurchase Program for 2018 (the “2018 Program”). The 2018 Program authorizes the repurchase during 2018 of up to 5% of the outstanding shares of the Company’s common stock, or approximately 306,618 shares based on the 6,132,362 shares outstanding as of December 31, 2017.
1/18/2018 - American River Bankshares (NASDAQ-GS: AMRB) today announced its first quarter cash dividend of 5 cents per share ($0.05) payable on February 14, 2018 to shareholders of record on January 31, 2018.
1/10/2018 - American River Bank today announced that the American River Bank Foundation will be awarding $150,000 to 20 nonprofit organizations in Northern California.
1/5/2018 - SACRAMENTO, Calif, Jan. 5, 2018 – American River Bank and American River Bankshares [NASDAQ-GS: AMRB] today announced that Loren Hunter, who has served American River Bank as Executive Vice President & Chief Credit Officer since 2014, is stepping down from his position.
12/7/2017 - SACRAMENTO, Calif, December 7, 2017 – American River Bank and American River Bankshares [NASDAQ-GS: AMRB] today announce the appointment of Dennis Raymond to the newly created role of Executive Vice President and Chief Lending Officer. Mr. Raymond will oversee the loan production for the Company.
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