checkAd

     117  0 Kommentare American Riviera Bancorp Announces Earnings for the Fourth Quarter of 2022

    American Riviera Bancorp (“Company”) (OTCQX: ARBV), holding company of American Riviera Bank (“Bank”), announced today unaudited net income of $13.5 million ($2.37 per share) for the twelve months ended December 31, 2022 compared to the $11.8 million ($2.09 per share) earned in the same reporting period in the previous year. Unaudited net income was $4.0 million ($0.70 per share) for the three months ended December 31, 2022, compared to the $2.7 million ($0.49 per share) earned in the same reporting period in the previous year. The increase in year-to-date unaudited net income in 2022 compared to 2021 is primarily attributable to loan growth, increased interest income on liquid assets, and a strong deposit base.

    Jeff DeVine, President and CEO of the Company and the Bank stated, “We are pleased to report improved profitability, continued loan growth, expanding capital ratios, strong credit quality, and a balance sheet supported by local deposits from relationship clients. The Federal Reserve’s actions to date to increase rates and remove excess liquidity from the financial system have only modestly decelerated loan growth and increased funding costs.”

    Fourth Quarter Highlights

    • Return on average assets for the fourth quarter ended December 31, 2022, was 1.14%, an increase from 1.08% in the previous quarter and 0.84% in the same quarter last year.
    • Total loans, excluding Paycheck Protection Program (“PPP”) loans, reached $907.6 million at December 31, 2022, an increase of $21.5 million or 2.4% from the prior quarter end and $154.1 million or 20.4% from December 31, 2021.
    • Non-interest-bearing demand deposits totaled $478.5 million at December 31, 2022, a decrease of $41.3 million or 7.9% from the prior quarter end and an increase of $7.8 million or 1.6% from December 31, 2021. Non-interest-bearing demand deposits now represent 41.1% of total deposits. This reduction in deposit balances occurred late in the fourth quarter of 2022 as some Bank clients decided to reinvest their excess cash in non-FDIC insured, external investment products.
    • Net interest margin increased to 3.94% for the fourth quarter of 2022, compared to 3.69% for the prior quarter and 3.12% for the same quarter in the prior year.
    • Total cost of funding sources increased to 0.26% for the fourth quarter of 2022, compared to 0.16% in the prior quarter and 0.07% for the same quarter in the prior year. Total cost of deposits, including non-interest-bearing demand deposits, has increased to 0.21% for the fourth quarter of 2022, compared to 0.08% in the prior quarter and 0.07% for the same quarter in the prior year.
    • Provision for loan losses for the fourth quarter of 2022 was $0.1 million, the same as in the previous quarter. Year-to-date provision in 2022 of $1.1 million exceeds the $0.3 million expensed in the prior year due to strong organic loan growth, and not credit quality concerns.
    • Allowance for loan losses was 1.17% of total loans at December 31, 2022, compared with 1.18% at September 30, 2022 and December 31, 2021.
    • The Bank maintained strong credit quality with no other real estate owned, no loans 90 days or more past due, and only $3.1 million or 0.34% of total loans on non-accrual status, which are well supported by collateral and reserves.
    • Tangible book value per share was $14.43 at December 31, 2022, up from the $13.55 at September 30, 2022 due to strong earnings in the fourth quarter of 2022 and stable market value of the available-for-sale investment portfolio.
    • All Bank capital ratios were above regulatory requirements for a well-capitalized institution with a total risk-based capital ratio of 12.89% for the fourth quarter of 2022, as compared to 12.73% in the previous quarter and 12.16% in the same quarter of 2021.

    Fourth Quarter Earnings

    For the fourth quarter of 2022, unaudited net income was $4.0 million, compared to $3.8 million in the third quarter of 2022, and $2.8 million in the fourth quarter of 2021. For the fourth quarter of 2022, unaudited net income pre-tax, pre-provision, pre-PPP fees (a non-GAAP measure) was $5.6 million, compared to $5.4 million in the third quarter of 2022, and $3.3 million in the fourth quarter of 2021.

    Net interest income continues to benefit from the Federal Reserve’s actions to increase short-term rates as evidenced by the $0.3 million or 26% increase in Interest on Due From Banks from the previous quarter, and $1.2 million or 852% increase from the same quarter last year. However, deposit rates have adjusted upward from historically low levels as interest expense on deposits increased $0.4 million or 152% during the fourth quarter of 2022 compared to prior quarter and increased $0.5 million or 223% compared to the fourth quarter of 2021.

    Non-Interest Income and Expense

    Non-interest income was $0.7 million for the fourth quarter of 2022, compared to $0.8 million for the third quarter of 2022 and $0.8 million for the same quarter last year. Variances between the quarters relate primarily to SBA loan sale premium, mortgage broker fees and loan prepayment fees. Aggregate non-interest income has remained consistent over the periods analyzed.

    Non-interest expense was $8.4 million for the fourth quarter of 2022, compared to $7.8 million in the third quarter of 2022 and $6.7 million for the same period last year. The increase in non-interest expense in the fourth quarter of 2022 is primarily attributable to additional incentive plan accrual based on the strong performance of the Bank and timing of certain expenses, such as advertising and annual sponsorships. With the relaxing of COVID restrictions, expenses related to business development and marketing have moved back to historical levels. The Company remains committed to making investments in systems and staffing to support continued growth while maximizing efficiencies. Occupancy expenses are temporarily elevated as the Company is in the process of consolidating office space which is expected to result in efficiencies in the second half of 2023.

    Loans and Asset Quality

    Total loans, excluding PPP loans, reached $907.6 million at December 31, 2022, an increase of $21.5 million or 2.4% from the prior quarter end and $154.1 million or 20.4% from December 31, 2021.

    The Allowance for Loan Losses increased $0.1 million to $10.6 million at December 31, 2022 with a resulting coverage ratio of 1.17% of total loans, as compared to $10.5 million or 1.18% at September 30, 2022 and $9.4 million or 1.18% at December 31, 2021. The Allowance percentage has remained consistent over the periods analyzed with increased dollars primarily attributable to continued organic loan growth and not credit quality concerns.

    Loan charge-offs totaled zero and loan recoveries totaled $0.1 million for the entire year of 2022. As of December 31, 2022, non-accrual loans totaled $3.1 million, down $3.3 million compared to the previous quarter. The decrease in non-accrual loans during the quarter relates to two loans fully paid off. $2.3 million of the non-accrual total at December 31, 2022 is comprised of one loan which is real estate secured at a 29% loan-to-value based upon a recent appraisal and is paying full principal and interest payments monthly. Credit quality remains strong.

    Deposits

    Total deposits were $1.2 billion at December 31, 2022 representing a decrease of $100.3 million, or 7.9%, from September 30, 2022, and a decrease of $38.6 million, or 3.2% since December 31, 2021. This reduction in deposit balances occurred late in the fourth quarter of 2022 as some Bank clients decided to reinvest their excess cash in non-FDIC insured, external investment products. Total non-interest-bearing deposits represented 41.1% of total deposits at December 31, 2022. The Bank had no brokered deposits or Federal Home Loan Bank advances in its funding base as of December 31, 2022.

    Shareholders’ Equity

    Total shareholders’ equity was $87.1 million at December 31, 2022, a $5.0 million or 6.0% increase since September 30, 2022, and a decrease of $9.2 million or 9.5% over prior year. The tax adjusted unrealized loss on securities, which is a component of equity (accumulated other comprehensive income or “AOCI”), reduced slightly from $24.7 million at the end of the third quarter of 2022 to $23.9 million at the end of the fourth quarter of 2022, resulting in an additional $0.8 million expansion of shareholders equity for the fourth quarter. Industry-wide there has been a material decline in market value of fixed income securities in 2022, consistent with the significant increase in market yields. These securities have a maturity and minimal inherent credit risk; therefore, the Bank expects to receive principal in full when the investments mature.

    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, San Luis Obispo and Paso Robles. 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. For twelve consecutive years, the Bank has been recognized for strong financial performance by the Findley Reports and has received the highest “Super Premier” rating from Findley every year since 2016. The Bank was rated “Outstanding” by the Federal Deposit Insurance Corporation in 2020 for its performance under the Community Reinvestment Act.

    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)
    Dec 31, Dec 31, One Year One Year

    2022

    2021

    $ Change % Change
    Assets
    Cash & Due From Banks

    $

    61,801

     

    $

    292,111

     

    $

    (230,310

    )

    -79

    %

    Available for sale securities

     

    223,281

     

     

    191,543

     

     

    31,738

     

    17

    %

    Held to maturity securities

     

    41,293

     

     

    -

     

     

    41,293

     

    100

    %

     
    Loans (excluding PPP)

     

    907,580

     

     

    753,494

     

     

    154,086

     

    20

    %

    PPP Loans

     

    105

     

     

    39,996

     

     

    (39,891

    )

    -100

    %

    Allowance For Loan Losses

     

    (10,626

    )

     

    (9,383

    )

     

    (1,243

    )

    13

    %

    Net Loans

     

    897,059

     

     

    784,107

     

     

    112,952

     

    14

    %

     
    Premise & Equipment

     

    12,347

     

     

    10,429

     

     

    1,918

     

    18

    %

    Goodwill and Other Intangibles

     

    4,947

     

     

    5,075

     

     

    (128

    )

    -3

    %

    Other Assets

     

    40,931

     

     

    23,275

     

     

    17,656

     

    76

    %

    Total Assets

    $

    1,281,659

     

    $

    1,306,540

     

    $

    (24,881

    )

    -2

    %

     
     
    Liabilities & Shareholders' Equity
    Demand Deposits

    $

    478,519

     

    $

    470,763

     

    $

    7,756

     

    2

    %

    NOW Accounts

     

    184,138

     

     

    181,546

     

     

    2,592

     

    1

    %

    Other Interest Bearing Deposits

     

    500,870

     

     

    549,781

     

     

    (48,911

    )

    -9

    %

    Total Deposits

     

    1,163,527

     

     

    1,202,090

     

     

    (38,563

    )

    -3

    %

     
    Borrowed Funds

     

    18,000

     

     

    -

     

     

    18,000

     

    100

    %

    Other Liabilities

     

    13,036

     

     

    8,177

     

     

    4,859

     

    59

    %

    Total Liabilities

     

    1,194,563

     

     

    1,210,267

     

     

    (15,704

    )

    -1

    %

     
    Common Stock

     

    57,458

     

     

    56,564

     

     

    894

     

    2

    %

    Retained Earnings

     

    53,560

     

     

    40,432

     

     

    13,128

     

    32

    %

    Other Capital

     

    (23,922

    )

     

    (723

    )

     

    (23,199

    )

    3,209

    %

    Total Shareholders' Equity

     

    87,096

     

     

    96,273

     

     

    (9,177

    )

    -10

    %

     
    Total Liabilities & Shareholders' Equity

    $

    1,281,659

     

    $

    1,306,540

     

    $

    (24,881

    )

    -2

    %

     
     
    American Riviera Bancorp and Subsidiaries
    Balance Sheets (unaudited)
    (dollars in thousands)
    December 31, September 30, June 30, March 31, December 31,

    2022

    2022

    2022

    2022

    2021

    Assets
    Cash & Due From Banks

    $

    61,801

     

    $

    178,882

     

    $

    212,675

     

    $

    320,683

     

    $

    292,111

     

    Available for sale securities

     

    223,281

     

     

    222,910

     

     

    250,132

     

     

    220,364

     

     

    191,543

     

    Held to maturity securities

     

    41,293

     

     

    41,241

     

     

    -

     

     

    -

     

     

    -

     

     
    Loans (excluding PPP)

     

    907,580

     

     

    886,087

     

     

    854,593

     

     

    776,395

     

     

    753,494

     

    PPP Loans

     

    105

     

     

    121

     

     

    6,169

     

     

    11,633

     

     

    39,996

     

    Allowance For Loan Losses

     

    (10,626

    )

     

    (10,500

    )

     

    (10,367

    )

     

    (9,394

    )

     

    (9,383

    )

    Net Loans

     

    897,059

     

     

    875,708

     

     

    850,395

     

     

    778,634

     

     

    784,107

     

     
    Premise & Equipment

     

    12,347

     

     

    9,649

     

     

    9,491

     

     

    9,948

     

     

    10,429

     

    Goodwill and Other Intangibles

     

    4,947

     

     

    4,984

     

     

    5,025

     

     

    5,080

     

     

    5,075

     

    Other Assets

     

    40,931

     

     

    38,033

     

     

    35,470

     

     

    27,327

     

     

    23,275

     

    Total Assets

    $

    1,281,659

     

    $

    1,371,407

     

    $

    1,363,188

     

    $

    1,362,036

     

    $

    1,306,540

     

     
     
    Liabilities & Shareholders' Equity
    Demand Deposits

    $

    478,519

     

    $

    519,796

     

    $

    487,187

     

    $

    481,619

     

    $

    470,763

     

    NOW Accounts

     

    184,138

     

     

    184,138

     

     

    196,485

     

     

    193,178

     

     

    181,546

     

    Other Interest Bearing Deposits

     

    500,870

     

     

    559,914

     

     

    571,544

     

     

    571,595

     

     

    549,781

     

    Total Deposits

     

    1,163,527

     

     

    1,263,848

     

     

    1,255,216

     

     

    1,246,392

     

     

    1,202,090

     

     
    Borrowed Funds

     

    18,000

     

     

    18,000

     

     

    18,000

     

     

    18,000

     

     

    -

     

    Other Liabilities

     

    13,036

     

     

    7,425

     

     

    6,460

     

     

    7,971

     

     

    8,177

     

    Total Liabilities

     

    1,194,563

     

     

    1,289,273

     

     

    1,279,676

     

     

    1,272,363

     

     

    1,210,267

     

     
    Common Stock

     

    57,458

     

     

    57,123

     

     

    56,897

     

     

    56,554

     

     

    56,564

     

    Retained Earnings

     

    53,560

     

     

    49,722

     

     

    45,922

     

     

    43,370

     

     

    40,432

     

    Other Capital

     

    (23,922

    )

     

    (24,711

    )

     

    (19,307

    )

     

    (10,251

    )

     

    (723

    )

    Total Shareholders' Equity

     

    87,096

     

     

    82,134

     

     

    83,512

     

     

    89,673

     

     

    96,273

     

     
    Total Liabilities & Shareholders' Equity

    $

    1,281,659

     

    $

    1,371,407

     

    $

    1,363,188

     

    $

    1,362,036

     

    $

    1,306,540

     

     
     
    American Riviera Bancorp and Subsidiaries
    Statement of Income (unaudited)
    (dollars in thousands, except per share data)
    Quarter Ended Twelve Months Ended
    Dec 31, Dec 31, Dec 31, Dec 31,

    2022

    2021

    Change

    2022

    2021

    Change

    Interest Income
    Interest and Fees on Loans

    $

    11,081

     

    $

    8,557

     

    29

    %

    $

    39,189

     

    $

    33,613

     

    17

    %

    Fees on PPP Loans

     

    -

     

     

    517

     

    -100

    %

     

    1,321

     

     

    3,853

     

    -66

    %

    Net Fair Value Amortization Income

     

    -

     

     

    25

     

    -100

    %

     

    7

     

     

    506

     

    -99

    %

    Interest on Securities

     

    1,716

     

     

    645

     

    166

    %

     

    5,212

     

     

    1,674

     

    211

    %

    Interest on Due From Banks

     

    1,323

     

     

    139

     

    852

    %

     

    3,049

     

     

    391

     

    680

    %

    Total Interest Income

     

    14,120

     

     

    9,883

     

    43

    %

     

    48,778

     

     

    40,037

     

    22

    %

     
    Interest Expense
    Interest Expense on Deposits

     

    669

     

     

    207

     

    223

    %

     

    1,362

     

     

    948

     

    44

    %

    Interest Expense on Borrowings

     

    169

     

     

    -

     

    100

    %

     

    571

     

     

    -

     

    100

    %

    Total Interest Expense

     

    838

     

     

    207

     

    305

    %

     

    1,932

     

     

    742

     

    160

    %

     
    Net Interest Income

     

    13,282

     

     

    9,676

     

    37

    %

     

    46,846

     

     

    39,089

     

    20

    %

    Provision for Loan Losses

     

    109

     

     

    -

     

    100

    %

     

    1,147

     

     

    338

     

    239

    %

    Net Interest Income After Provision

     

    13,173

     

     

    9,676

     

    36

    %

     

    45,699

     

     

    38,751

     

    18

    %

     
    Non-Interest Income
    Service Charges, Commissions and Fees

     

    522

     

     

    705

     

    -26

    %

     

    2,467

     

     

    2,623

     

    -6

    %

    Other Non-Interest Income

     

    157

     

     

    138

     

    14

    %

     

    881

     

     

    962

     

    -8

    %

    Total Non-Interest Income

     

    679

     

     

    843

     

    -19

    %

     

    3,347

     

     

    3,585

     

    -7

    %

     
    Non-Interest Expense
    Salaries and Employee Benefits

     

    4,948

     

     

    4,003

     

    24

    %

     

    18,301

     

     

    16,007

     

    14

    %

    Occupancy and Equipment

     

    856

     

     

    747

     

    15

    %

     

    3,155

     

     

    2,872

     

    10

    %

    Other Non-Interest Expense

     

    2,561

     

     

    1,991

     

    29

    %

     

    8,834

     

     

    7,082

     

    25

    %

    Total Non-Interest Expense

     

    8,365

     

     

    6,741

     

    24

    %

     

    30,290

     

     

    25,961

     

    17

    %

     
    Net Income Before Provision for Taxes

     

    5,487

     

     

    3,778

     

    45

    %

     

    18,756

     

     

    16,375

     

    15

    %

    Provision for Taxes

     

    1,524

     

     

    1,031

     

    48

    %

     

    5,263

     

     

    4,546

     

    16

    %

    Net Income

    $

    3,963

     

    $

    2,747

     

    44

    %

    $

    13,494

     

    $

    11,829

     

    14

    %

     
    Shares Outstanding

     

    5,692,161

     

     

    5,648,492

     

    1

    %

     

    5,692,161

     

     

    5,648,492

     

    1

    %

    Earnings Per Share - Basic

    $

    0.70

     

    $

    0.49

     

    43

    %

    $

    2.37

     

    $

    2.09

     

    13

    %

    Return on Average Assets

     

    1.14

    %

     

    0.84

    %

    36

    %

     

    1.00

    %

     

    1.04

    %

    -4

    %

    Return on Average Equity

     

    19.12

    %

     

    11.20

    %

    71

    %

     

    15.81

    %

     

    13.02

    %

    21

    %

    Net Interest Margin

     

    3.94

    %

     

    3.12

    %

    26

    %

     

    3.54

    %

     

    3.58

    %

    -1

    %

     
    Note> Share data for prior periods has been adjusted to reflect stock dividends
     

     

    American Riviera Bancorp and Subsidiaries
    Five Quarter Statements of Income (unaudited)
    (dollars in thousands, except per share data)
    Three Months Ended

    December 31,

     

    September 30,

     

    June 30,

     

    March 31,

     

    December 31,

    2022

     

    2022

     

    2022

     

    2022

     

    2021

    Interest Income
    Interest and Fees on Loans

    $

    11,081

    $

    10,158

    $

    9,356

     

    $

    8,600

    $

    8,557

    Fees on PPP Loans

     

    -

     

    199

     

    209

     

     

    913

     

    517

    Net Fair Value Amortization Income

     

    -

     

    3

     

    (9

    )

     

    7

     

    25

    Interest on Securities

     

    1,716

     

    1,539

     

    1,116

     

     

    842

     

    645

    Interest on Due From Banks

     

    1,323

     

    1,046

     

    539

     

     

    142

     

    139

    Total Interest Income

     

    14,120

     

    12,944

     

    11,211

     

     

    10,504

     

    9,883

     
    Interest Expense
    Interest Expense on Deposits

     

    669

     

    266

     

    216

     

     

    210

     

    207

    Interest Expense on Borrowings

     

    169

     

    169

     

    166

     

     

    67

     

    -

    Total Interest Expense

     

    838

     

    435

     

    382

     

     

    277

     

    207

     
    Net Interest Income

     

    13,282

     

    12,509

     

    10,829

     

     

    10,227

     

    9,676

    Provision for Loan Losses

     

    109

     

    122

     

    916

     

     

    -

     

    -

    Net Interest Income After Provision

     

    13,173

     

    12,387

     

    9,913

     

     

    10,227

     

    9,676

     
    Non-Interest Income
    Service Charges, Commissions and Fees

     

    522

     

    602

     

    672

     

     

    670

     

    705

    Other Non-Interest Income

     

    157

     

    210

     

    20

     

     

    494

     

    138

    Total Non-Interest Income

     

    679

     

    812

     

    692

     

     

    1,164

     

    843

     
    Non-Interest Expense
    Salaries and Employee Benefits

     

    4,948

     

    4,717

     

    4,326

     

     

    4,310

     

    4,003

    Occupancy and Equipment

     

    856

     

    777

     

    766

     

     

    755

     

    747

    Other Non-Interest Expense

     

    2,561

     

    2,260

     

    2,119

     

     

    1,895

     

    1,991

    Total Non-Interest Expense

     

    8,365

     

    7,754

     

    7,211

     

     

    6,960

     

    6,741

     
    Net Income Before Provision for Taxes

     

    5,487

     

    5,446

     

    3,394

     

     

    4,431

     

    3,778

    Provision for Taxes

     

    1,524

     

    1,645

     

    818

     

     

    1,276

     

    1,031

    Net Income

    $

    3,963

    $

    3,800

    $

    2,576

     

    $

    3,155

    $

    2,747

     
    Shares Outstanding

     

    5,692,161

     

    5,693,820

     

    5,690,710

     

     

    5,696,862

     

    5,648,492

    Earnings Per Share - Basic

    $

    0.70

    $

    0.67

    $

    0.45

     

    $

    0.55

    $

    0.49

     
    Net Income pre-tax, pre-provision, pre-PPP fees (Non-GAAP)

    $

    5,596

    $

    5,369

    $

    4,101

     

    $

    3,518

    $

    3,261

     
    Note> Share data for prior periods has been adjusted to reflect stock dividends
     
     
    American Riviera Bancorp and Subsidiaries
    Selected Financial Highlights (unaudited)
    (dollars in thousands, except per share data)
    At or for the Three Months Ended

    December 31,

     

    September 30,

     

    June 30,

     

    March 31,

     

    December 31,

    2022

     

    2022

     

    2022

     

    2022

     

    2021

    Income and performance ratios:
    Net Income

    $

    3,963

     

    $

    3,800

     

    $

    2,576

     

    $

    3,155

     

    $

    2,747

     

    Earnings per share - basic (f)

     

    0.70

     

     

    0.67

     

     

    0.45

     

     

    0.55

     

     

    0.49

     

    Return on average assets

     

    1.14

    %

     

    1.08

    %

     

    0.75

    %

     

    1.00

    %

     

    0.84

    %

    Return on average equity

     

    19.12

    %

     

    17.26

    %

     

    11.40

    %

     

    15.58

    %

     

    11.20

    %

    Cost of Funds

     

    0.26

    %

     

    0.16

    %

     

    0.12

    %

     

    0.09

    %

     

    0.07

    %

    Cost of Deposits

     

    0.21

    %

     

    0.08

    %

     

    0.07

    %

     

    0.07

    %

     

    0.07

    %

    Net interest margin

     

    3.94

    %

     

    3.69

    %

     

    3.26

    %

     

    3.22

    %

     

    3.12

    %

    Efficiency ratio (b)

     

    60.21

    %

     

    58.58

    %

     

    62.89

    %

     

    60.48

    %

     

    64.51

    %

     
    Asset quality:
    Allowance for loan and lease losses

    $

    10,626

     

    $

    10,500

     

    $

    10,367

     

    $

    9,394

     

    $

    9,383

     

    Nonperforming assets

     

    3,066

     

     

    6,337

     

     

    3,505

     

     

    2,776

     

     

    2,870

     

    Allowance for loan and lease losses / total loans and leases

     

    1.17

    %

     

    1.18

    %

     

    1.20

    %

     

    1.19

    %

     

    1.18

    %

    Net charge-offs / average loans and leases (annualized)

     

    0.00

    %

     

    -0.04

    %

     

    -0.03

    %

     

    -0.01

    %

     

    0.00

    %

    Texas ratio (a)

     

    3.30

    %

     

    6.07

    %

     

    3.94

    %

     

    2.95

    %

     

    2.85

    %

     
    Capital ratios for American Riviera Bank (c):
    Tier 1 risk-based capital

     

    11.85

    %

     

    11.68

    %

     

    11.85

    %

     

    12.53

    %

     

    11.02

    %

    Total risk-based capital

     

    12.89

    %

     

    12.73

    %

     

    12.94

    %

     

    13.59

    %

     

    12.16

    %

    Tier 1 leverage ratio

     

    8.83

    %

     

    8.48

    %

     

    8.29

    %

     

    8.75

    %

     

    7.23

    %

     
    Capital ratios for American Riviera Bancorp (c):
    Tier 1 risk-based capital

     

    10.22

    %

     

    10.05

    %

     

    10.15

    %

     

    10.82

    %

     

    N/A

     

    Total risk-based capital

     

    11.26

    %

     

    11.10

    %

     

    11.24

    %

     

    11.91

    %

     

    N/A

     

    Tier 1 leverage ratio

     

    7.62

    %

     

    7.29

    %

     

    7.11

    %

     

    7.27

    %

     

    N/A

     

     
    Equity and share related (f):
    Common equity

    $

    87,096

     

    $

    82,134

     

    $

    83,512

     

    $

    89,673

     

    $

    96,273

     

    Book value per share

     

    15.30

     

     

    14.43

     

     

    14.68

     

     

    15.74

     

     

    17.04

     

    Tangible book value per share

     

    14.43

     

     

    13.55

     

     

    13.79

     

     

    14.85

     

     

    16.15

     

    Tangible book value per share, excluding AOCI (d)

     

    18.63

     

     

    17.89

     

     

    17.18

     

     

    16.65

     

     

    16.27

     

    Stock closing price per share

     

    17.00

     

     

    17.15

     

     

    17.90

     

     

    20.58

     

     

    20.29

     

    Number of shares issued and outstanding (e)

     

    5,692.16

     

     

    5,693.82

     

     

    5,690.71

     

     

    5,696.86

     

     

    5,648.49

    Notes:

    (a)

    The sum of Nonperforming assets and Other Real Estate Owned, divided by the sum of Total Shareholder Equity and Total Allowance for Loan and Lease Losses (less Preferred Stock and Intangible Assets).

    (b)

    Annualized Operating Expense excluding Loan Loss Provisions 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.

    (e)

    Prior period number of shares issued and outstanding are adjusted for respective 10% stock dividend recorded as of November 24, 2022.

    (f)

    Share data for prior periods has been adjusted to reflect stock dividends

     


    The American Riviera Bancorp Stock at the time of publication of the news with a fall of -0,06 % to 17,94USD on Nasdaq OTC stock exchange (23. Januar 2023, 23:20 Uhr).

    Business Wire (engl.)
    0 Follower
    Autor folgen

    American Riviera Bancorp Announces Earnings for the Fourth Quarter of 2022 American Riviera Bancorp (“Company”) (OTCQX: ARBV), holding company of American Riviera Bank (“Bank”), announced today unaudited net income of $13.5 million ($2.37 per share) for the twelve months ended December 31, 2022 compared to the $11.8 …