American River Bankshares (AMRB) Tops Q1 EPS by 1c

American River Bankshares (NASDAQ: AMRB) reported Q1 EPS of $0.22, $0.01 better than the analyst estimate of $0.21.

Financial Highlights

• Core deposits increased $44.0 million (9.2%) and net loans decreased $9.6 million (3.1%) during the first quarter of 2018. Core deposits increased $51.6 million (11.0%) from March 31, 2017 to March 31, 2018. Net loans decreased $14.9 million (4.7%) from March 31, 2017 to March 31, 2018.
• The net interest margin for the first quarter 2018 was 3.29%, compared to 3.39% for the fourth quarter of 2017 and 3.44% for the first quarter of 2017. Net interest income was $4.7 million in the first quarter of 2018, a decrease of $74,000 (1.5%) from $4.8 million recorded in the first quarter of 2017.
• The allowance for loan and lease losses was $4.5 million (1.48% of total loans and leases) at March 31, 2018, compared to $4.5 million (1.43% of total loans and leases) at December 31, 2017 and $4.8 million (1.52% of total loans and leases) at March 31, 2017. Nonperforming loans were $1.9 million at March 31, 2018 compared to $1.9 million at December 31, 2017 and $17,000 at March 31, 2017.
• Shareholders’ equity was $72.1 million at March 31, 2018 compared to $76.9 million at December 31, 2017. Tangible book value per share was $9.48 at March 31, 2018 compared to $9.88 per share at December 31, 2017. Book value per share was $12.26 per share at March 31, 2018 compared to $12.54 per share at December 31, 2017.
• The 2018 Stock Repurchase Program resulted in the Company repurchasing 264,178 shares of its common stock at an average price of $15.47 per share. The Company continued the quarterly cash dividend program by paying a $0.05 per share cash dividend on February 14, 2018.
• The Company continues to maintain strong capital ratios. At March 31, 2018 the Leverage ratio was 8.7% compared to 9.5% at December 31, 2017; the Tier 1 Risk-Based Capital ratio was 17.0% compared to 18.1% at December 31, 2017; and the Total Risk-Based Capital ratio was 18.3% compared to 19.3% at December 31, 2017.

For earnings history and earnings-related data on American River Bankshares (AMRB) click here.

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