American River Bankshares Announces Re-election of Directors and the Ratification of Perry-Smith LLP as Independent Registered Public Accountants
Sacramento, CA, May 18, 2007 – The Board of Directors of American River Bankshares (NASDAQ – GS: AMRB), announced the election of the existing nine Directors at the Annual Meeting held yesterday in Fair Oaks, California.
Directors Dorene C. Dominguez, Stephen H. Waks and Michael A. Ziegler will serve until the 2008 Annual Meeting; Charles D. Fite, Robert J. Fox and Roger J. Taylor, DDS will serve until the 2009 Annual Meeting; and Amador S. Bustos, William A. Robotham and David T. Taber will serve until the 2010 Annual Meeting.
Additionally, the selection of Perry-Smith LLP as independent public accountants for American River Bankshares was ratified by a majority of votes cast. Perry-Smith LLP has served the Company since 1990.
In his annual report to shareholders, David Taber, President and CEO of American River Bankshares, said: “Last year, I stood at this same podium and mentioned three factors that I believed would impact our industry and our Company: 1. A flat yield curve; 2. The increasing level of competition; and 3. A softening housing market. Indeed, we are seeing each of those three factors play out to create a challenging market in which to do business.”
He continued: “The long-term outlook for American River Bankshares is good. We’re not hunkering down and waiting for the market to improve – we’re aggressively competing for new relationships and we’re out to prove to prospects that we can and will do it better than the competition.”
About American River Bankshares
American River Bankshares [NASDAQ – GS: AMRB] is the parent company of American River Bank (“ARB”), a community business bank serving Sacramento, CA that operates a family of financial services providers, including North Coast Bank [a division of “ARB”] in Sonoma County and Bank of Amador [a division of “ARB”] in Amador County. For more information, please call 916-851-0123 or visit www.amrb.com; www.americanriverbank.com; www.northcoastbank.com; or www.bankofamador.com.
Certain statements contained herein are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties. Actual results may differ materially from the results in these forward-looking statements. Factors that might cause such a difference include, among other matters, changes in interest rates, economic conditions, governmental regulation and legislation, credit quality, and competition affecting the Company’s businesses generally; the risk of natural disasters and future catastrophic events including terrorist related incidents; and other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2006, and in reports filed on Form 10-Q and Form 8-K. The Company does not undertake any obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or otherwise.
American River Bankshares
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