American Riviera Bank Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015
For the nine months, the company reported pre-tax net income of $2,211,385, excluding $427,000 of deal-related costs. This represents a 32% increase from the $1,678,987 generated during the same reporting period in the prior year. Net income was $938,000 or $0.35 per share. The decrease from the $1,033,000 or $0.39 per share reported for the nine months ending September 30, 2014 is due to merger-related expenses. The book value of one share of American Riviera Bank stock was $10.47 at September 30, 2015, an increase from $9.87 at September 30, 2014.