American River Bankshares (NasdaqGS:AMRB) announces a share repurchase program. Under the program, the company will repurchase up to 424,462 shares, representing 4.99% of the shares outstanding. The repurchases will be made from time to time in the open market transactions.

Repurchases will be structured to comply with Securities and Exchange Commission Rule 10b-18. The repurchased shares will be retired. The number, price and timing of the repurchases will be at the company's sole discretion and the program may be re-evaluated depending on market conditions, capital and liquidity needs or other factors.

Based on such re-evaluation, the Board of Directors may suspend, terminate, modify or cancel the program at any time and for any reason. The company believes that the current market value of the shares is not reflective of the company's value and a repurchase program is the best approach at this point in time to provide value to the company's shareholders while maximizing the company's strategic position. As of December 31, 2013, the company had 8,489,247 shares outstanding.