American River Bankshares (AMRB) has reported 23.42 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $1.81 million, or $0.27 a share in the quarter, compared with $1.47 million, or $0.20 a share for the same period last year.     

Revenue during the quarter grew 7.71 percent to $6.15 million from $5.71 million in the previous year period. Net interest income for the quarter dropped 2.63 percent over the prior year period to $5.08 million. Non-interest income for the quarter fell 18.57 percent over the last year period to $0.40 million.

Net interest margin contracted 7 basis points to 3.65 percent in the quarter from 3.72 percent in the last year period. Efficiency ratio for the quarter deteriorated to 59.88 percent from 59.14 percent in the previous year period. A rise in efficiency ratio suggests a fall in profitability.

"The entire American River Bank team is focused on profitable growth. This quarter was very productive, with continued loan growth and solid core deposit growth," says David Taber, president and chief executive officer of American River Bankshares. He went on to say, “We are proud to report a 32% increase in EPS."

Deposits stood at $546.16 million as on Sep. 30, 2016, up 4.76 percent compared with $521.37 million on Sep. 30, 2015.

Noninterest-bearing deposit liabilities were $209.59 million or 38.37 percent of total deposits on Sep. 30, 2016, compared with $178.04 million or 34.15 percent of total deposits on Sep. 30, 2015.

Investments stood at $254.01 million as on Sep. 30, 2016, down 5.01 percent or $13.40 million from year-ago. Shareholders equity was at $84.67 million as on Sep. 30, 2016.

Return on assets moved up 21 basis points to 1.13 percent in the quarter from 0.92 percent in the last year period. At the same time, return on equity increased 191 basis points to 8.62 percent in the quarter from 6.71 percent in the last year period.