American Riviera Bancorp sees increase in income

By DAVE MASON NEWS-PRESS MANAGING EDITOR

American Riviera Bancorp did better in 2022 than the previous year. The company this week announced an unaudited income of $13.5 million ($2.37 per share) for 2022.

That’s up from $11.8 million ($2.09 per share) in 2021.

American Riviera Bancorp is the holding company of American Riviera Bank, a Santa Barbarabased bank with branches in

Santa Barbara, Montecito, Goleta, San Luis Obispo and Paso Robles.

The company’s unaudited net income was $4 million ($0.70 per share) for the three months that ended Dec. 31. That’s up from $2.7 million ($0.49 per share) earned during the same period in 2021.

American Riviera Bancorp said the increase is primarily because of loan growth, increased interest income on liquid assets and a strong deposit base.

“We are pleased to report improved profitability, continued loan growth, expanding capital

Chamber of commerce plans mixer

LOMPOC — The Lompoc Valley Chamber of Commerce plans to host a chamber mixer and open house Feb. 9 at CALM.

The event will take place from 4:30 to 6:30 p.m. at 110 South C St.

The chamber describes the mixer as a place to make new friends, enjoy snacks and drinks, and be entered for a chance to win a local prize. You can also meet the team at CALM, tour office and therapy ratios, strong credit quality, and a balance sheet supported by local deposits from relationship clients,” said Jeff DeVine, president and CEO of the company and bank. email: dmason@newspress.com spaces, and learn about how CALM is serving families throughout Lompoc.

“The Federal Reserve’s actions to date to increase rates and remove excess liquidity from the financial system have only modestly decelerated loan growth and increased funding costs,” Mr. DeVine said in a news release.

CALM’s mission is to prevent childhood trauma and heal children and families.

CALM envisions safe communities where every family is supported and every child thrives.

Those planning to attend the mixer are asked to RSVP by Feb. 3 by calling 805-741-7460 or emailing smclean@calm4kids.org.

For more about CALM, go to calm4kids.org.

— Caleb Beeghly