Business & Real Estate

American River Bank posts year-over-year profit gains

Rancho Cordova-based American River Bankshares, parent of American River Bank, had net income of $1.1 million, or 14 cents per share, in the third quarter ended Sept. 30, up 23 percent from $893,000, or 10 cents a share, in the third quarter of 2013.

Through nine months, profits totaled $3.2 million, or 39 cents a share, compared with $2.2 million, or 24 cents a share, in the same period a year ago.

President and CEO David Taber said year-over-year earnings were boosted by an improving economy and a growth in core deposits.

Founded in 1983, ARB has more than a dozen offices throughout Northern California.

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

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