Business Services Industry
Sacramento, Calif.'s American River Bank Reports Earnings Surge.
Knight Ridder/Tribune Business News, April, 1998
The Sacramento Bee, Calif. Knight Ridder/Tribune Business News
The parent company of American River Bank reported net income of $556,000 for the first quarter of 1998, a 32 percent increase over the $420,000 earned in the same period a year ago. It was the 57th consecutive quarterly profit for the Sacramento-based bank.
Bank loans outstanding rose 14 percent to $103.2 million vs. $90.3 million during the first three months of 1997. And total assets rose 11\ percent to $164.1 million from $147.5 million.
Shares of American River Holdings, thinly traded on the electronic bulletin board, fell $2.50 Thursday to close at $27, giving back all the gains earlier this week. The stock has traded at about that price for nearly six months....
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