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American River Bankshares Releases Fourth Quarter Reports
American River Bankshares,
parent company of Bank of Amador, has reported diluted earnings per share for the fourth quarter of
2006 of $0.42, a 7.7% increase from $0.39 recorded in the third quarter of 2006
and a 2.3% decrease from $0.43 for the fourth quarter of 2005. Net
income for the fourth quarter of 2006 increased 5.8% to $2,407,000 from
$2,275,000 during the third quarter of 2006 and decreased 6.2% from $2,567,000
for the fourth quarter of 2005. "We are pleased to finish 2006 with solid
results," said David T. Taber, President and CEO of American River
Bankshares. "The last
two quarters have each been better than the previous and our key industry
metrics are very good." He added: "The economy is strong, but the rapid increase in
funding costs has made 2006 tough. As a Company, we believe that we're up to
the challenge of positioning ourselves as the premier business bank in the
communities we serve."
Taber states that "Shifting
our loan and deposit portfolio mix towards commercial loans and noninterest
bearing deposits remains an important goal," He continued "Quarter
over quarter, commercial loans are up 3%, noninterest-bearing deposits are up
4% and over the one year period, commercial loans increased 10%."