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American Riviera Bancorp Announces Results for the Fourth Quarter of 2025

News Provided by ACCESS Newswire2026-01-29

SANTA BARBARA, CA / ACCESS Newswire / January 28, 2026 /American Riviera Bancorp ( "Company ") (OTCQX:ARBV), holding company of American Riviera Bank ( "Bank "), announced today unaudited net income of $12.4 million ($2.18 per share) for the year ended December 31, 2025, compared to $8.7 million ($1.50 per share) earned in the same reporting period in the previous year. Unaudited net income was $4.5 million ($0.80 per share) for the three months ended December 31, 2025, compared to $2.9 million ($0.51 per share) in the previous quarter, and $2.0 million ($0.35 per share) earned in the same reporting period in the previous year.

Total deposits were $1.20 billion at December 31, 2025, an increase of $86.7 million or 7.8% from December 31, 2024. At December 31, 2025, all deposits were "core deposits " from our clients, with no wholesale-funded certificates of deposit. Total loans were $1.08 billion at December 31, 2025, an increase of $91.8 million or 9.3% from December 31, 2024. Total loans grew $39.9 million or 3.8% in the fourth quarter of 2025.

Jeff DeVine, President and CEO of the Company and the Bank stated, "In 2025, we achieved over $90 million of net loan growth and similar growth in deposits through onboarding new clients and expanding existing relationships. Earnings improved substantially, and our shareholders were rewarded with a 17.4% increase in tangible book value per share and a new high for ARBV share price. We have reinvested for growth and look forward to opportunities from our new lending center in Ventura County. "

Fourth Quarter 2025 Highlights

Unaudited net income and earnings per share have increased sequentially over the past four quarters and have improved 125.4% and 128.6%, respectively, from the fourth quarter of 2024. Net income in the fourth quarter of 2025 included a $535,000 tax credit gain related to the purchase of a qualified energy Federal tax credit at a discount.
Return on average assets was 1.27%, return on average equity was 14.48% and efficiency ratio was 64.05% for the fourth quarter of 2025, with sequential improvement in all of these ratios over the past four quarters. Return on average assets, adjusted to exclude the $535,000 tax credit gain, was 1.13% for the fourth quarter of 2025.
Total shareholders ' equity was $127.7 million at December 31, 2025, and increased $16.3 million or 14.6% from the same reporting period in the previous year.
Tangible book value per share was $21.49 at December 31, 2025, and increased $3.18 or 17.4% from the same reporting period in the previous year.
The Company 's tangible common equity ratio improved to 9.01% at December 31, 2025, compared to 8.35% at December 31, 2024. Strong earnings and improvements in the market value of the securities portfolio were partially offset by cumulative share repurchases totaling $2.6 million and the impact of 6.9% asset growth over the prior year.
Non-interest-bearing demand deposits were $451.7 million or 37.6% of total deposits at December 31, 2025, and have increased $20.7 million or 4.8% since December 31, 2024.
Total demand deposits were $620.1 million or 51.7% of total deposits at December 31, 2025, and have increased $72.1 million or 13.2% since December 31, 2024.
As a result of the Bank 's core funding and relationship-based deposits, the cost of deposits and total cost of funds declined to 1.29% and 1.41%, respectively, for the fourth quarter of 2025. Total cost of funds has improved by 22 basis points from the 1.63% reported for the same quarter in the prior year.
Net interest margin ( "NIM ") increased to 3.81% for the fourth quarter of 2025, compared to 3.66% in the prior quarter, and has improved 49 basis points from the 3.32% reported for the same quarter in the prior year. NIM improved as a result of steady loan yield improvement and declining total cost of funds.
On-balance sheet liquidity continues to be substantial with $191.2 million of cash, due from banks, and available-for-sale ( "AFS ") securities at market value as of December 31, 2025.
At December 31, 2025, the Bank 's commercial real estate ( "CRE ") portfolio is diverse, with weighted average loan-to-values of 29% to 54% and weighted average debt coverage ratios between 1.73x and 4.40x depending on the individual CRE category and as of the most recent CRE stress test in July 2025.
The Bank maintained strong credit quality with no other real estate owned, no loans 90 days or more past due and still accruing, and $8.1 million or 0.75% of total loans on non-accrual status, which are well supported by collateral, borrower assets, SBA guarantees, or specific reserves.

Fourth Quarter 2025 Earnings
For the fourth quarter of 2025, unaudited net income was $4.5 million, compared to $2.9 million reported in the third quarter of 2025, and $2.0 million reported in the fourth quarter of 2024. In the fourth quarter of 2025 the bank purchased a qualified energy Federal tax credit at a discount, which was applied to 2025 Federal tax liability and carried back for 3 prior tax years, resulting in the recognition of a $535,000 tax credit gain. Unaudited net income pre-tax, pre-provision (non-GAAP) was $5.1 million in the fourth quarter of 2025, a $0.6 million or 13.7% increase from the $4.5 million reported in the third quarter of 2025, and a $1.8 million or 54.6% increase from the $3.3 million reported in the fourth quarter of 2024.

The Bank continues to grow interest and fees on loans sequentially over the last five quarters from $13.4 million in the fourth quarter of 2024 to $15.4 million in the fourth quarter of 2025, representing a $2.0 million or 15.0% increase.

Total interest expense has decreased from $4.8 million in the fourth quarter of 2024 to $4.5 million in the fourth quarter of 2025, a $0.3 million or 5.8% decrease, even though deposits have grown $86.7 million or 7.8% since the fourth quarter of 2024. Total interest expense has declined due to the favorable shift in funding mix, reduced borrowings, and deposit rate reductions which followed the Federal Reserve 's actions to lower its target rate by a total of 75 basis points in the last four months of 2025.

Net interest income pre-provision increased $1.1 million or 8.7% in the fourth quarter of 2025 compared to the third quarter of 2025 and increased $2.7 million or 25.2% compared to the fourth quarter of 2024.

Non-Interest Income and Expense
Total non-interest income was $0.9 million for the fourth quarter of 2025, the same as the prior quarter, and $0.1 million more than the fourth quarter of last year. Variances between the quarters can be attributed to SBA loan sale premiums, mortgage broker fees, loan interest rate swap fees, loan prepayment fees and gains or losses on sale of securities.

Total non-interest expense was $9.1 million for the fourth quarter of 2025, an increase from the $8.6 million reported for the prior quarter and the $8.1 million reported for the same quarter last year. Variances between the quarters can be attributed to changes in staffing, bonus accrual adjustments, operating losses and recoveries, and the timing of expenses related to advertising and events. The Company has generated significant operating leverage with total non-interest expense up only $1.7 million or 5.1% in fiscal 2025 while net interest income increased $6.7 million, or 16.2% in fiscal 2025.

Loans and Asset Quality
Total loans were $1.08 billion at December 31, 2025, an increase of $39.9 million or 3.8% from the prior quarter-end, and an increase of $91.8 million or 9.3% from December 31, 2024.

The Bank 's Allowance for Credit Losses ( "ACL ") was $12.7 million at December 31, 2025, with a resulting coverage ratio of 1.17%, compared to $11.6 million or 1.17% at December 31, 2024. As of December 31, 2025, non-accrual loans totaled $8.1 million, a $1.7 million decrease from the previous quarter-end, and a $2.0 million increase from the $6.1 million reported at December 31, 2024. All loans on non-accrual are well supported by collateral, borrower assets, SBA guarantees, or specific reserves.

Deposits & Borrowings
Total deposits were $1.20 billion at December 31, 2025, a $60.7 million or 4.8% decrease from the prior quarter-end, and an increase of $86.7 million or 7.8% from December 31, 2024. Deposit growth year-over-year was represented by core deposits, with no wholesale brokered funds at December 31, 2025.

Non-interest-bearing demand deposits totaled $451.7 million at December 31, 2025, a decrease of $30.6 million or 6.3% from the prior quarter-end, and an increase of $20.7 million or 4.8% from December 31, 2024. Non-interest-bearing demand deposits represent 37.6% of total deposits at December 31, 2025, compared to 38.3% at the prior quarter-end, and 38.7% at December 31, 2024.

Interest-bearing demand deposits totaled $168.4 million at December 31, 2025, a decrease of $12.5 million or 6.9% from the prior quarter-end, and an increase of $51.4 million or 43.9% from December 31, 2024. Total demand deposits, including interest-bearing demand, represent 51.7% of total deposits at December 31, 2025, compared to 52.6% at the prior quarter-end, and 49.2% at December 31, 2024.

Other interest-bearing deposits totaled $579.9 million at December 31, 2025, a decrease of $17.6 million or 2.9% from the prior quarter-end, and an increase of $14.6 million or 2.6% from December 31, 2024.

The weighted average cost of deposits for the fourth quarter of 2025 decreased to 1.29% from 1.45% for the third quarter of 2025 and decreased 29 basis points from the 1.58% reported for the same quarter of last year. The decrease in the cost of deposits was due to significant growth in demand deposits throughout the year, and the Federal Reserve 's three 25 basis point rate cuts in the last four months of 2025.

The Company 's total borrowings remained at $26.5 million at December 31, 2025, same as prior quarter, and a decrease from $41.5 million at December 31, 2024. At December 31, 2025, the Company had $10.0 million drawn on a correspondent bank line of credit at a rate of 3.85%, and $16.5 million of subordinated notes outstanding at a rate of 3.75%. The weighted average cost on all borrowings for the fourth quarter of 2025 was 3.84%, resulting in $0.3 million of interest expense on borrowings, the same as the previous quarter and for the same quarter last year.

As a result of the favorable shift to core funding and the impact of deposit pricing changes, total cost of funds was 1.41% for the fourth quarter of 2025, 7 basis points better than the 1.48% reported for the previous quarter, and 22 basis points better than the 1.63% reported for the same quarter of last year. The Company 's net interest margin improved to 3.81% for the fourth quarter of 2025, compared to 3.66% in the prior quarter, and improved a significant 49 basis points from the 3.32% reported for the same quarter of last year as a result of steady loan yield improvement and decline in total cost of funds.

The Bank 's liquidity position remained strong with a primary liquidity ratio (cash and cash equivalents, deposits held in other banks and unpledged AFS securities as a percentage of total assets) of 12.1% at December 31, 2025, compared to 18.6% at September 30, 2025. As of December 31, 2025, the Bank had available and unused, secured borrowing capacity with the Federal Home Loan Bank of San Francisco of $263.6 million, and had available and unused, secured borrowing capacity with the Federal Reserve of $44.6 million. In addition, the Bank had $142.7 million of unused fed funds lines of credit with correspondent banks at December 31, 2025. Available contingent funding sources of $450.9 million remain robust.

Overall uninsured deposits, excluding public agency deposits that are collateralized, are conservatively estimated to be $398.4 million, or 33.2% of total deposit balances as of December 31, 2025. The actual level of uninsured deposits is lower than the percentage stated above, as our knowledgeable bankers have helped clients obtain more than $250,000 of FDIC insurance with vesting structures such as joint accounts, payable upon death accounts, and revocable trust accounts with multiple beneficiaries. In addition, the Bank can offer up to $285 million of FDIC pass-through insurance to clients via the IntraFi network Insured Cash Sweep ( "ICS ") or Certificate of Deposit Account Registry Service ( "CDARS ") products.

Shareholders ' Equity
Total shareholders ' equity was $127.7 million at December 31, 2025, a $5.6 million or 4.6% increase since September 30, 2025, and an increase of $16.3 million or 14.6% over the same period of the prior year. The tax adjusted unrealized loss on securities, which is a component of equity (accumulated other comprehensive income or "AOCI "), improved $0.8 million or 5.4% from $14.7 million at September 30, 2025, to $13.9 million at December 31, 2025, and improved $5.7 million or 29.2% from December 31, 2024. The Bank fully expects to receive all principal when the investments mature.

As of December 31, 2025, the Company had repurchased 130,616 shares of common stock at a weighted average cost of $19.80, leaving $2.4 million available for repurchase under the share repurchase program.

Company Profile

American Riviera Bancorp (OTCQX:ARBV) is a registered bank holding company headquartered in Santa Barbara, California. American Riviera Bank, the 100% owned subsidiary of American Riviera Bancorp, is a full-service community bank focused on serving the lending and deposit needs of businesses and consumers on the Central Coast of California. The state-chartered bank opened for business on July 18, 2006, with the support of local shareholders. Full-service branches are located in Santa Barbara, Montecito, Goleta, Santa Maria, San Luis Obispo, Atascadero, and Paso Robles. In December 2025, the Bank opened a lending center in the City of Ventura. The Bank provides commercial business, commercial real estate, residential mortgage, construction, and Small Business Administration lending services as well as convenient online and mobile technology. The Bank maintains a "5 Star - Superior " rating from Bauer Financial and for fourteen consecutive years, has been recognized for strong financial performance by the Findley Reports. The Bank was rated "Outstanding " by the Federal Deposit Insurance Corporation in 2023 for its performance under the Community Reinvestment Act. The Company was named to the "OTCQX Best 50 " list for equal weighted share trading volume and total return in 2024. The Bank was recognized by S&P Global as a Top 100 Small US Community Bank Deposit Franchise as of June 30, 2025. #BankonBetter #OTCQX

American Riviera Bank
www.americanriviera.bank
805-965-5942
Michelle Martinich

Statements concerning future performance, developments or events concerning expectations for growth and market forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, effects of interest rate changes, ability to control costs and expenses, impact of consolidation in the banking industry, financial policies of the US government, and general economic conditions.

American Riviera Bancorp and Subsidiaries
Balance Sheets (unaudited)
(dollars in thousands)

	December 31,			December 31,			One Year			One Year
	2025			2024			$ Change			% Change
Assets
Cash & Due From Banks	$	21,395		$	20,948		$	447			2	%
Available-for-sale securities		169,793			178,082			(8,289	)		-5	%
Held-to-maturity securities, net		41,430			41,393			37			0	%

Loans		1,081,696			989,941			91,755			9	%
Allowance For Credit Losses		(12,689	)		(11,572	)		(1,117	)		10	%
Net Loans		1,069,007			978,369			90,638			9	%

Premise & Equipment		7,255			8,221			(966	)		-12	%
Operating Lease Right-of-Use Asset		5,584			4,841			743			15	%
Bank Owned Life Insurance		14,051			12,131			1,920			16	%
Stock in Other Banks		6,786			6,786			-			-
Goodwill and Other Intangibles		4,871			4,911			(40	)		-1	%
Other Assets		27,117			23,629			3,488			15	%
Total Assets	$	1,367,289		$	1,279,312		$	87,977			7	%


Liabilities & Shareholders ' Equity
Non-interest-bearing Demand Deposits	$	451,721		$	431,031		$	20,690			5	%
Interest-bearing Demand Deposits		168,399			116,996			51,403			44	%
Other Interest-bearing Deposits		579,902			565,312			14,590			3	%
Total Deposits		1,200,022			1,113,338			86,683			8	%

Borrowed Funds		26,500			41,500			(15,000	)		-36	%
Allowance for credit losses on off-balance sheet exposures		974			1,052			(78	)		-7	%
Other Liabilities		12,123			12,039			84			1	%
Total Liabilities		1,239,619			1,167,929			71,689			6	%

Common Stock		68,767			68,134			633			1	%
Retained Earnings		72,826			62,919			9,907			16	%
Other Capital		(13,923	)		(19,670	)		5,747			29	%
Total Shareholders ' Equity		127,670			111,383			16,287			15	%

Total Liabilities & Shareholders ' Equity	$	1,367,289		$	1,279,312		$	87,977			7	%

American Riviera Bancorp and Subsidiaries
Balance Sheets (unaudited)
(dollars in thousands)

	December 31,			September 30,			June 30,			March 31,			December 31,
	2025			2025			2025			2025			2024
Assets
Cash & Due From Banks	$	21,395		$	128,753		$	28,111		$	30,525		$	20,948
Available-for-sale securities		169,793			164,459			162,089			175,787			178,082
Held-to-maturity securities		41,430			41,411			41,392			41,410			41,393

Loans		1,081,696			1,041,839			1,020,261			994,788			989,941
Allowance for Credit Losses		(12,689	)		(12,689	)		(12,496	)		(11,859	)		(11,572	)
Net Loans		1,069,007			1,029,150			1,007,765			982,928			978,369

Premise & Equipment		7,255			7,494			7,773			7,943			8,221
Operating Lease Right-of-Use Asset		5,584			5,885			6,184			4,528			4,841
Bank Owned Life Insurance		14,051			12,489			12,370			12,254			12,131
Stock in Other Banks		6,786			6,786			6,786			6,786			6,786
Goodwill and Other Intangibles		4,871			4,883			4,889			4,898			4,911
Other Assets		27,117			21,142			23,086			21,725			23,629
Total Assets	$	1,367,289		$	1,422,452		$	1,300,445		$	1,288,784		$	1,279,312


Liabilities & Shareholders ' Equity
Non-interest-bearing Demand Deposits	$	451,721		$	482,343		$	447,534		$	445,533		$	431,031
Interest-bearing Demand Deposits		168,399			180,930			134,538			116,425			116,995
Other Interest-bearing Deposits		579,902			597,454			549,404			572,936			565,312
Total Deposits		1,200,022			1,260,727			1,131,476			1,134,894			1,113,338

Borrowed Funds		26,500			26,500			38,500			26,500			41,500
Allowance for credit losses on off-balance sheet exposures		974			1,215			993			1,126			1,052
Other Liabilities		12,123			11,956			11,865			11,158			12,039
Total Liabilities		1,239,619			1,300,398			1,182,834			1,173,678			1,167,929

Common Stock		68,767			68,493			67,914			67,914			68,041
Retained Earnings		72,826			68,276			67,645			65,334			63,012
Other Capital		(13,923	)		(14,715	)		(17,948	)		(18,142	)		(19,670	)
Total Shareholders ' Equity		127,670			122,054			117,611			115,106			111,383

Total Liabilities & Shareholders ' Equity	$	1,367,289		$	1,422,452		$	1,300,445		$	1,288,784		$	1,279,312

American Riviera Bancorp and Subsidiaries
Average Balance Sheets (unaudited)
(dollars in thousands)

		4Q 2025			3Q 2025			2Q 2025			1Q 2025			4Q 2024
		Average			Average			Average			Average			Average
Assets
Cash & Due From Banks	$	109,112		$	70,822		$	21,159		$	28,207		$	49,181
Available-for-sale securities		166,373			162,709			166,833			176,964			183,256
Held-to-maturity securities		41,416			41,397			41,414			41,400			41,383

Loans		1,055,371			1,031,749			1,007,429			988,262			980,848
Allowance for Credit Losses		(12,689	)		(12,626	)		(12,010	)		(11,575	)		(11,692	)
Net Loans		1,042,682			1,019,123			995,419			976,687			969,156

Premise & Equipment		7,392			7,666			7,910			8,118			8,384
Operating Lease Right-of-Use Asset		5,762			6,057			4,636			4,676			4,945
Bank Owned Life Insurance		13,762			12,448			12,330			12,183			12,072
Stock in Other Banks		6,786			6,786			6,786			6,786			6,786
Goodwill and Other Intangibles		4,877			4,887			4,894			4,904			4,925
Other Assets		21,352			21,981			20,943			21,893			22,926
Total Assets	$	1,419,514		$	1,353,876		$	1,282,324		$	1,281,818		$	1,303,014


Liabilities & Shareholders ' Equity
Non-interest-bearing Demand Deposits	$	476,473		$	465,622		$	433,652		$	435,938		$	452,802
Interest-bearing Demand Deposits		156,271			150,042			120,062			113,411			113,218
Other Interest-bearing Deposits		621,162			579,637			554,088			568,440			584,053
Total Deposits		1,253,906			1,195,301			1,107,802			1,117,789			1,150,073

Borrowed Funds		26,589			26,674			47,231			37,389			27,772
Allowance for credit losses on off-balance sheet exposures		1,212			1,085			1,092			1,053			654
Other Liabilities		13,149			12,052			10,208			12,364			13,125
Total Liabilities		1,294,856			1,235,112			1,166,333			1,168,595			1,191,624

Common Stock		68,695			68,413			68,092			68,076			68,057
Retained Earnings		70,292			67,886			66,288			64,320			61,775
Other Capital		(14,329	)		(17,535	)		(18,389	)		(19,173	)		(18,442	)
Total Shareholders ' Equity		124,658			118,764			115,991			113,223			111,390

Total Liabilities & Shareholders ' Equity	$	1,419,514		$	1,353,876		$	1,282,324		$	1,281,818		$	1,303,014

American Riviera Bancorp and Subsidiaries
Statement of Income (unaudited)
(dollars in thousands, except per share data)

	Quarter Ended									Twelve Months Ended
	December 31,			December 31,						December 31,			December 31,
	2025			2024			Change			2025			2024			Change
Interest Income
Interest and Fees on Loans	$	15,437		$	13,426			15	%	$	58,092		$	52,536			11	%
Interest on Securities		1,378			1,518			-9	%		5,646			6,401			-12	%
Interest on Due From Banks		962			445			116	%		1,827			1,194			53	%
Total Interest Income		17,777			15,389			16	%		65,565			60,131			9	%

Interest Expense
Interest Expense on Deposits		4,282			4,555			-6	%		16,284			15,120			8	%
Interest Expense on Borrowings		254			258			-2	%		1,371			3,791			-64	%
Total Interest Expense		4,536			4,813			-6	%		17,655			18,911			-7	%

Net Interest Income		13,241			10,576			25	%		47,910			41,220			16	%

Provision for Credit Losses		-			(121	)		-100	%		1,115			(77	)		-1548	%
Provision for Off-Balance Sheet Credit Exposures		(240	)		403			-160	%		(78	)		470			-117	%
Net Interest Income After Provision		13,481			10,294			31	%		46,873			40,827			15	%

Non-Interest Income
Service Charges, Commissions and Fees		609			530			15	%		2,427			2,387			2	%
Other Non-Interest Income		284			299			-5	%		1,087			1,736			-37	%
Total Non-Interest Income		893			829			8	%		3,514			4,123			-15	%

Non-Interest Expense
Salaries and Employee Benefits		5,744			4,705			22	%		21,859			19,997			9	%
Occupancy and Equipment		917			981			-7	%		3,705			3,726			-1	%
Other Non-Interest Expense		2,393			2,432			-2	%		8,741			8,927			-2	%
Total Non-Interest Expense		9,053			8,118			12	%		34,305			32,650			5	%

Net Income Before Provision for Taxes		5,321			3,005			77	%		16,082			12,300			31	%
Provision for Taxes		772			986			-22	%		3,637			3,559			2	%
Net Income	$	4,549		$	2,019			125	%	$	12,445		$	8,741			42	%

Shares Outstanding		5,713,022			5,815,818			-2	%		5,713,022			5,815,818			-2	%
Earnings Per Share - Basic	$	0.80		$	0.35			129	%	$	2.18		$	1.50			45	%
Return on Average Assets		1.27	%		0.62	%		105	%		0.93	%		0.68	%		37	%
Return on Average Equity		14.48	%		7.27	%		99	%		10.54	%		8.25	%		28	%
Net Interest Margin		3.81	%		3.32	%		15	%		3.69	%		3.30	%		12	%

American Riviera Bancorp and Subsidiaries
Five Quarter Statements of Income (unaudited)
(dollars in thousands, except per share data)

	Three Months Ended
	December 31,			September 30,		June 30,			March 31,		December 31,
	2025			2025		2025			2025		2024
Interest Income
Interest and Fees on Loans	$	15,437		$	14,789	$	14,168		$	13,698	$	13,426
Interest on Securities		1,378			1,340		1,439			1,489		1,518
Interest on Due From Banks		962			621		82			162		445
Total Interest Income		17,777			16,750		15,689			15,349		15,389

Interest Expense
Interest Expense on Deposits		4,282			4,315		3,822			3,865		4,555
Interest Expense on Borrowings		254			257		487			373		258
Total Interest Expense		4,536			4,572		4,309			4,238		4,813

Net Interest Income		13,241			12,178		11,380			11,111		10,576

Provision for Credit Losses		-			194		634			287		(121	)
Provision for Off-Balance Sheet Credit Exposures		(240	)		221		(133	)		74		403
Net Interest Income After Provision		13,481			11,763		10,879			10,750		10,294

Non-Interest Income
Service Charges, Commissions and Fees		609			631		639			548		530
Other Non-Interest Income		284			289		247			267		299
Total Non-Interest Income		893			920		886			815		828

Non-Interest Expense
Salaries and Employee Benefits		5,744			5,467		5,250			5,398		4,705
Occupancy and Equipment		917			922		929			937		981
Other Non-Interest Expense		2,393			2,240		2,072			2,037		2,432
Total Non-Interest Expense		9,054			8,629		8,251			8,372		8,118

Net Income Before Provision for Taxes		5,320			4,054		3,514			3,193		3,004
Provision for Taxes		772			1,125		870			870		986
Net Income	$	4,548		$	2,929	$	2,644		$	2,323	$	2,018

Shares Outstanding		5,713,022			5,708,960		5,810,042			5,833,247		5,815,818
Earnings Per Share - Basic	$	0.80		$	0.51	$	0.46		$	0.40	$	0.35

Net Income pre-tax, pre-provision (Non-GAAP)	$	5,080		$	4,469	$	4,015		$	3,554	$	3,286

American Riviera Bancorp and Subsidiaries
Selected Financial Highlights (unaudited)
(dollars in thousands, except per share data)

	At or for the Three Months Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
	2025			2025			2025			2025			2024
Income and performance ratios:
Net Income	$	4,549		$	2,929		$	2,644		$	2,323		$	2,018
Earnings per share - basic		0.80			0.51			0.46			0.40			0.35
Return on average assets		1.27	%		0.85	%		0.83	%		0.74	%		0.62	%
Return on average equity		14.48	%		9.75	%		9.14	%		8.39	%		7.27	%
Loan yield		5.80	%		5.69	%		5.64	%		5.62	%		5.45	%
Cost of funds		1.41	%		1.48	%		1.50	%		1.49	%		1.63	%
Cost of deposits		1.29	%		1.45	%		1.39	%		1.39	%		1.58	%
Net interest margin		3.81	%		3.66	%		3.65	%		3.61	%		3.32	%
Efficiency ratio ^(b)		64.05	%		65.89	%		67.26	%		70.20	%		71.18	%

Balance Sheet ratios:
Loan-to-deposit ratio		90.14	%		82.64	%		90.17	%		87.65	%		88.92	%
Non-interest-bearing deposits / total deposits		37.64	%		38.26	%		39.55	%		39.26	%		38.72	%
Demand deposits / total deposits		51.68	%		52.61	%		51.44	%		49.52	%		49.22	%

Asset quality:
Allowance for credit losses	$	12,689		$	12,689		$	12,496		$	11,859		$	11,572
Nonperforming assets		8,116			9,803			8,442			4,799			6,098
Allowance for credit losses / total loans and leases		1.17	%		1.22	%		1.22	%		1.19	%		1.17	%
Net charge-offs / average loans and leases (annualized)		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%
Texas ratio ^(a)		7.37	%		9.38	%		8.42	%		4.87	%		5.47	%

Capital ratios for American Riviera Bank^(c):
Tier 1 risk-based capital		12.54	%		12.56	%		13.39	%		13.34	%		13.21	%
Total risk-based capital		13.68	%		13.77	%		14.59	%		14.51	%		14.36	%
Tier 1 leverage ratio		10.55	%		10.69	%		11.78	%		11.55	%		11.17	%

Capital ratios for American Riviera Bancorp^(c):
Tier 1 risk-based capital		11.48	%		11.49	%		11.61	%		11.61	%		11.49	%
Total risk-based capital		13.93	%		14.03	%		14.19	%		14.17	%		14.05	%
Tier 1 leverage ratio		9.66	%		9.78	%		10.16	%		9.89	%		9.72	%
Tangible common equity ratio		9.01	%		8.27	%		8.70	%		8.58	%		8.35	%

Equity and share related:
Common equity	$	127,670		$	122,054		$	117,611		$	115,106		$	111,383
Book value per share		22.35			21.38			20.24			19.73			19.15
Tangible book value per share		21.49			20.52			19.40			18.89			18.31
Tangible book value per share, excluding AOCI ^(d)		23.93			23.10			22.49			22.00			21.69
Stock closing price per share		23.90			21.99			19.27			19.16			20.00
Number of shares issued and outstanding		5,713.02			5,708.96			5,810.04			5,833.25			5,815.82

Notes:
(a) Sum of Nonperforming Assets and Other Real Estate Owned, divided by the sum of Total Shareholder Equity and Total Allowance for Credit Losses less Preferred Stock and Intangible Assets.
(b) Annualized Operating Expense excluding Provision for Credit Losses minus Annualized Extraordinary Expense, divided by Annualized Interest Income including Loan Fees minus Annualized Interest Expense plus Annualized Non-Interest Income minus Annualized Extraordinary Income, expressed as a percentage.
(c) Current period capital ratios are preliminary.
(d) Accumulated Other Comprehensive Income (AOCI) is comprised of the tax adjusted unrealized loss on securities and is presented as Other Capital on the Balance Sheet.