American River Bank parent reports strong second-quarter gains
Rancho Cordova-based American River Bankshares, parent of American River Bank, on Thursday reported 2015 second-quarter net income of $1.4 million, or 18 cents a share, a robust 40 percent improvement from a profit of $1 million, or 13 cents per share, in the second quarter of 2014.
Through six months ended June 30, net income was $2.3 million, or 30 cents a share, compared with income of $2 million, or 25 cents a share, in the year-ago period.
“Second quarter results were positively influenced by our fourth consecutive quarter of loan growth and year-to-date increase in core deposits,” David Taber, ARB president and CEO, said in a statement.
Net loans totaled $275.4 million as of June 30, up from $246.5 million a year ago. The banking firm said net outstanding loans increased to the highest level since 2012.
Opened in 1983, the bank has five offices in the greater Sacramento area.
Mark Glover: 916-321-1184, @markhglover
This story was originally published July 16, 2015 at 10:01 AM with the headline "American River Bank parent reports strong second-quarter gains."