American Riviera Bank Q2: EPS $1.26, loans up 8%

American Riviera Bank posted second-quarter GAAP earnings of $1.26 per share, the company said in a press release.

Revenue came in at $13.63 million. Net interest income rose to $11.8 million from $10.9 million a year earlier, helped by loan growth. Total loans reached $535.8 million, up 8% from the prior year.

The bank set aside $450,000 for credit losses in the quarter, compared with $300,000 in the year-ago period. Nonperforming assets edged up to 0.17% of total assets from 0.16%.

Deposits totaled $657.8 million at quarter-end, down slightly from $660.6 million at the end of the first quarter. The bank's net interest margin widened to 3.69% from 3.51% a year ago.

American Riviera Bank shares trade on the OTC Markets under the ticker ARBV. The bank operates branches in Santa Barbara and Montecito, California.