American Riviera Bancorp reports recurring developments for its role as the holding company of American Riviera Bank. Company updates center on unaudited quarterly and annual results, loan and deposit growth, core deposit funding, asset quality, liquidity held in cash, bank balances and available-for-sale securities, and capital measures such as tangible common equity and regulatory capital ratios.
ARBV news also includes corporate actions and governance matters tied to the bank holding company, including share repurchase authorization, stock dividends, board leadership changes and director appointments. These updates reflect the company's public reporting as an OTCQX-traded community banking issuer.
American Riviera Bank (OTC Markets: ARBV) reported record unaudited net income of $7,378,000 ($1.45 per share) for the year ended December 31, 2020, a 15% increase from the previous year. The fourth quarter net income was $2,379,000 ($0.47 per share), up 51% year-over-year. The Bank also achieved considerable growth in total assets, reaching $972 million—a 35% increase—and total deposits rising 40% to $872 million. Despite challenges from the COVID-19 pandemic, the Bank's loan deferrals decreased significantly, reflecting effective management amid economic uncertainty.