Q2 Net Income Jumps 25% on Loan Growth, NIM Expands to 4.01%
ARBV sits 82% above its 52-week low of $17.6.
Summary
American Riviera Bank reported Q2 net income of $3.3 million, up 25% year-over-year, driven by loan growth and a wider net interest margin of 4.01% versus 3.65% a year ago. However, net income declined sequentially from Q1 due to a sharply higher loan loss provision of $1.0 million, up from just $23,000 in the prior quarter, reflecting the bank's expanding loan book. The stock is trading near its 52-week high of $32.00, suggesting the market may have already priced in strong performance. No forward guidance was provided.
At the time of this announcement, ARBV was trading at $31.99 on OTC in the Finance sector, with a market capitalization of approximately $186.2M. The 52-week trading range was $17.60 to $32.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.