Santa Barbara, CA – 1/15/2024 – American Riviera Bank (OTCQX: ARBV) is proud to announce its inclusion in the 2025 OTCQX® Best 50, a prestigious ranking of top-performing companies traded on the OTCQX Best Market. This recognition highlights the Bank’s exceptional performance in 2024 and serves as a milestone in its continued journey of growth and achievement. The Bank has continually expanded its footprint and enhanced its services to meet the needs of its clients and its growing impact on the region’s economic development.
The OTCQX Best 50 is an annual ranking that evaluates companies based on an equal weighting of one-year total return and average daily dollar volume growth. American Riviera Bank’s position among the top 50 underscores its strong financial performance, and solid investor confidence.
“Being named to the OTCQX Best 50 is a testament to American Riviera Bank's unwavering commitment to excellence in the financial sector,” said Jeff Devine, CEO of American Riviera Bank. “This achievement fuels our passion to continue delivering exceptional value to our shareholders and unparalleled service to our community."
American Riviera Bank’s journey began on July 18, 2006, when it opened its first branch. Since then, the Bank has opened six additional branches and broadened its service offerings to include innovative financial services, tailored solutions, and community-focused initiatives, all designed to meet the evolving needs of its clients and strengthen its ties to the communities it serves. A pivotal moment in its history was the acquisition of the Bank of Santa Barbara, completed on January 1, 2016. This merger not only broadened its reach but also solidified its presence as a trusted financial institution in the region.
In 2024, the bank opened its 7th branch in Atascadero, further solidifying its presence in the region. This strategic expansion contributed significantly to market growth in 2024, bringing in approximately $20 million in deposits in its first year of operation. The success of the Atascadero branch, and the Bank’s continued regional expansion, marks a significant step in the bank's market growth strategy, enhancing its ability to serve local communities while expanding its presence and client base.
The Bank’s initial stock offering in 2006 successfully raised capital through the issuance of 2,494,256 shares at $10 per share to support its launch. Building on this foundation, in 2019, the bank achieved another significant milestone by raising $8.5 million through the issuance of additional shares. These strategic moves laid the groundwork for its sustainable growth as a publicly traded company.
In April 2021, American Riviera Bank surpassed $1 billion in assets, marking a major achievement that reflects its robust financial health and strategic vision. This milestone positioned the bank among an elite group of community banks, demonstrating its ability to thrive in a competitive landscape.
Being named to the 2025 OTCQX Best 50 is a testament to American Riviera Bank’s dedication to delivering value to its shareholders and clients alike. As the Bank continues to grow, its commitment to innovation, client service, and community engagement remains steadfast.
