American Riviera Bank on Thursday announced unaudited net income of $1,569,000 (61 cents per share) for the year ended Dec. 31, 2014, a 12 percent increase as compared to $1,401,000 (55 cents per share) for the year ending Dec. 31, 2013.

Unaudited net income for the quarter ending Dec. 31, 2014, was $535,000 (21 cents per share) versus $198,000 (8 cents per share) for the comparable quarter of 2013.

American Riviera Bank’s focus on building relationships throughout the community has resulted in outstanding deposit growth. Average deposits increased 22 percent in 2014 compared to 2013 with total deposits reaching $195 million at Dec. 31. Noninterest bearing demand deposits now represent 29 percent of total deposits or $57 million at Dec. 31, a 47 percent increase from Dec. 31, 2013.

The bank saw strong loan demand in 2014 with average loans at $157 million, a 15 percent increase from $136 million in 2013. The bank increased commercial real estate and construction loans by a combined 26 percent and saw increased requests for mortgage and business loans as well. The aforementioned loan growth enabled the bank to grow net interest income by 11 percent in 2014 compared to 2013.

Jeff DeVine, president and chief executive officer, stated, “2014 was an excellent year for the Bank and its customers. We significantly expanded our market share by growing deposits and loans, and as a result increased earnings substantially. It has been a pleasure to partner with residents and businesses within the greater Santa Barbara area to provide a personal, flexible, and unique brand of community banking.”

American Riviera Bank has $225 million in total assets, and maintains a strong capital position with Tier 1 Capital to end of month assets of 12 percent as of Dec. 31, well above the regulatory guideline of 5 percent for well-capitalized institutions. For 2014, the bank recorded a return on average assets of 0.76 percent and a return on average equity of 6.04 percent. The book value of one share of American Riviera Bank stock is $10.41 at Dec. 31, 2014, an increase from $9.83 at Dec. 31, 2013.

— Michelle Martinich is senior vice president and chief financial officer for American Riviera Bank.