Business & Real Estate

American River Bank reports first quarter profit of nearly $1M

Rancho Cordova-based American River Bankshares, parent of American River Bank, on Thursday reported 2015 first-quarter net income of $956,000, or 12 cents a share, down slightly from $1 million, or 12 cents per share, in the initial quarter of 2014.

Net loans totaled $261.1 million as of March 31, up from $255.5 million in last year’s first quarter.

During the first quarter, the banking firm said it repurchased nearly 405,000 shares of its common stock at an average price of $9.75 a share under its 2015 stock repurchase program.

American River assets totaled $605.9 million at the close of the first quarter, compared with $603.7 million in the year-ago period.

For all of 2014, ARB profits totaled $4.4 million, or 54 cents a share, compared with $3.1 million, or 34 cents a share, in 2013. Opened in 1983, the bank has five offices in the greater Sacramento area.

Call The Bee’s Mark Glover, (916) 321-1184.