SANTA BARBARA, Calif., February 28, 2022--American Riviera Bancorp (the "Company") (OTCQX: ARBV), whose subsidiary is American Riviera Bank (the "Bank"), today announced that it has completed a private placement of $18 million in fixed-to-floating rate subordinated notes due March 1, 2032 (the "Notes") to certain qualified buyers and accredited investors. The Company intends to use the net proceeds for general corporate purposes, the maintenance of required regulatory capital at the Bank, and to
SANTA BARBARA, Calif., February 11, 2022--American Riviera Bank and American Riviera Bancorp (OTCQX: ARBV) announced today that a reorganization resulting in a bank holding company structure has been completed. Following shareholder approval on January 10, 2022 and recent receipt of all requisite regulatory approvals, the holding company reorganization has been finalized and American Riviera Bank is now a wholly-owned subsidiary of American Riviera Bancorp.
SANTA BARBARA, Calif., January 31, 2022--American Riviera Bank (OTCQX: ARBV) announced today unaudited net income of $11,829,000 ($2.30 per share) for the twelve months ended December 31, 2021. This represents a 60% increase in net income from the $7,378,000 ($1.45 per share) earned in the same reporting period in the prior year. In 2021, the Bank achieved an annualized return on average assets of 1.04% and return on average equity of 13.02%. Unaudited net income was $2,747,000 ($0.53 per share)