Amador County – American River Bankshares, the parent company of local stalwart the Bank of Amador, has announced it will not participate in the federal government bailout program. The company qualified to participate in the U.S. Department of Treasury Capital Purchase Program after receiving approval to participate in the program in November 2008. American River Bankshares applied for and was approved for a $6 million capital investment. “After careful review of the agreements and related documents, American River Bankshares' Board of Directors has decided that it is in the best interest of our Company and its shareholders not to participate,” said David Taber, President and CEO of American River Bankshares. He continued, “American River Bank is well capitalized and we believe that the potential ramifications of participating in the program outweigh the benefits.” Bank of Amador Financial Director Wayne Garibaldi said in an exclusive TSPN interview that “the bank is strong and safe...and not going to take any of the bailout or tarp money, which is always a good sign.” He said he was “proud” to report that the bank was profitable in its latest report. This was not as much as the previous year, but profits were still up approximately 90 percent. In a separate press release issued Thursday, American River Bankshares reported its fourth quarter 2008 financial results, marking its 100th consecutive profitable quarter. As of December 31, 2008, the Company's profits exceeded $7.5 million and had over $63 million in capital. Story by Alex Lane