American River Bank Foundation Donates $120,000 to 10 Nonprofit Organizations Across Sacramento, Placer, Amador and Sonoma Counties2/14/2019
—Half of the chosen organizations also receive funds for nonprofit training with Impact Foundry
Sacramento, CA, February 14, 2019 –
American River Bank, a subsidiary of American River Bankshares [NASDAQ-GS: AMRB], today announced that the American River Bank Foundation (the Foundation) will be awarding $120,000 to 10 nonprofit organizations in Northern California communities of Sacramento, Placer, Amador and Sonoma Counties. Most of the money, $107,000 is a grant to directly benefit specific programs within each organization. Additional dollars, $13,000 has been provided to five of the organizations to participate in Impact Foundry’s Certified Sustainable® program which provides training for nonprofits to strengthen their skills in revenue structure, operational framework, partner engagement, communications & brand management, measuring impact and accountability, culture and leadership development. Since its inception in 2004, the Foundation has awarded $1,253,000 to 60 different organizations.
American River Bank sees potential for success in these selected nonprofits and wants to help them reach their long-term goals by giving them the skills and tools necessary. Impact Foundry’s Certified Sustainable program is about to graduate it’s first class of program participants in the program which prides itself on helping nonprofits provide high quality delivery of their mission, in an affordable way.
American River Bankshares Reports Fourth Quarter 2018 Results 1/24/2019
—Sacramento, CA, January 24, 2019
– American River Bankshares (NASDAQ-GS: AMRB) today reported net income of $1,125,000, or $0.19 per diluted share for the fourth quarter of 2018 compared to a net loss of $392,000, or ($0.06) per diluted share for the fourth quarter of 2017. For the twelve months ended December 31, 2018, net income was $4.9 million or $0.83 per diluted share, compared to $3.2 million or $0.50 per diluted share for the twelve months ended December 31, 2017.
“We are pleased to see the team making progress on our plan,” said David E. Ritchie, Jr., President and CEO of American River Bankshares. “We believe we have the right people working hard to develop new relationships for the Bank.” Ritchie continued, “Our net interest income and net interest margin have continued to increase for the third consecutive quarter and our credit quality is solid with just $27,000 in nonaccrual loans and zero loans past due over 30 days.”
American River Bank assists two local charities in securing $70,000 in grants from Federal Home Loan Bank of San Francisco’s AHEAD Program1/22/2019
—Women’s Empowerment to receive $45,000, Amador College Connect to receive $25,000
(Sacramento, Calif. – January 11, 2019) -- American River Bankshares (NASDAQ-GS: AMRB) is pleased to announce the two local recipients of grants from Access to Housing and Economic Assistance for Development (AHEAD) a program of the Federal Home Loan Bank of San Francisco (FHLB San Francisco). American River Bank sponsored and helped guide the two recipient organizations through the application process. This year’s recipients include Women’s Empowerment in Sacramento which will receive $45,000 to continue to develop and expand the use of their “Get A Job Kit” which helps program graduates successfully find employment and stay out of homelessness. The second grant recipient is the Amador Community College Foundation’s Amador College Connect which will receive $25,000 to support their apprenticeship program in culinary and hospitality arts at Jackson Rancheria Casino Resort. Graduates of the intensive eight-month program will earn a culinary arts certificate and guaranteed employment at the Casino.
AHEAD grant recipients receive generous donations from FHLB San Francisco with help from American River Bank. L to R - Cecilia Miles, VP of Loan Operations and CRA Officer, American River Bank; Lisa Culp, Executive Director, Women's Empowerment; Craig Burman, Treasurer, Amador Community College Foundation; David E. Ritchie, Jr, President & CEO, American River Bank and President, American River Bank Foundation
American River Bankshares Announces its First Quarter Cash Dividend1/17/2019
—Sacramento, CA, January 17, 2019
– American River Bankshares (NASDAQ-GS: AMRB) announced its first quarter cash dividend of 5 cents per share ($0.05) payable on February 13, 2019 to shareholders of record on January 30, 2019.
The cash dividend is equal to the 5 cents declared in the fourth quarter of 2018 and represents the ninth cash dividend since the quarterly program was reinstated in January of 2017.
American River Bankshares Schedules its Quarterly Conference Call1/17/2019
—SACRAMENTO, CA, January 17, 2019
– American River Bankshares (NASDAQ-GS: AMRB) today announced that it will host a conference call on Thursday, January 24, 2019 at 1:30 p.m. Pacific Time to discuss fourth quarter 2018 financial results.
David E. Ritchie, Jr., President and Chief Executive Officer, and Mitchell A. Derenzo, Executive Vice President and Chief Financial Officer, both of American River Bankshares, will lead a live presentation and answer analysts’ questions.