American River Bankshares Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Reports Net Charge Offs for the Fourth Quarter of 2017
For the full year, the company announced interest income of $20,414,000 compared to $21,153,000 for the same period a year ago. Net interest income was $19,353,000 compared to $20,243,000 for the same period a year ago. Income before provision for income taxes was $6,450,000 compared to $9,796,000 for the same period a year ago. Net income was $3,198,000 or $0.50 per basic and diluted share compared to $6,404,000 or $0.94 per diluted share for the same period a year ago. Return on average assets was 0.49% compared to 1.00% for the same period a year ago. Return on average equity was 3.91% compared to 7.60% for the same period a year ago. Tangible book value per share was $9.88 at December 31, 2017 compared to $10.14 at December 31, 2016. Book value per share was $12.54 per share at December 31, 2017 compared to $12.59 per share at December 31, 2016.
The company had net charge-offs of $223,000 in the fourth quarter of 2017 compared to net recoveries of $515,000 in the fourth quarter of 2016.