American Riviera Bank Purchases Branch Building in Paso Robles

News item October 3, 2017 by American Riviera Bank

SANTA BARBARA, CALIFORNIA (OCTOBER 3, 2017) American Riviera Bank (OTC Markets: ARBV) is pleased to announce it has furthered its commitment to San Luis Obispo County with the purchase of its first branch building in Paso Robles.

The building, located at 1601 Spring Street, will be American Riviera Bank’s first full-service bank branch in San Luis Obispo County. The Paso Robles branch is scheduled to open in early 2018. The Bank expects to open more branches between Santa Barbara and Paso Robles in the future, offering customers new and expanded banking options as well as providing additional local employment opportunities.

A national bank had once occupied the building and then left it vacant for a considerable time before American Riviera Bank closed escrow on October 2, 2017. The conveniently located new branch will occupy 4,957 square feet, features a large parking lot for customers, a drive-up teller and an ATM.  American Riviera Bank plans to complete extensive interior improvements and to refresh the exterior parking lot, landscape and signage.

“The purchase of this building, as opposed to a lease, represents the beginning of our long-term commitment to San Luis Obispo County. We are excited to move forward and improve this vacant bank property for the benefit of our customers and the surrounding neighborhood,” said Jeff DeVine, President and Chief Executive Officer of American Riviera Bank.

When the new branch opens, American Riviera Bank will relocate its loan production team from 205 Oak Hill Road to 1601 Spring Street.  This staff, led by Neil Amarante, includes Paul Tognazzini, Ann Cochrane, Emily Brush, Nancy Enholm and Tyler Flesner.  The Bank will also hire 4 – 5 additional local employees to provide depository and mortgage services at the new branch.