Santa Barbara’s American Riviera Bank reported net income of $176,000 or 4 cents per share for the first quarter of 2016, compared to $443,000 or 17 cents per share for the same period in 2015.

Operating income excluding costs related to the merger with The Bank of Santa Barbara for the first quarter of 2016 was $1,652,000 or 38 cents per share, which is 41 percent better on a share adjusted basis than the $734,000 or 27 cents per share for the same reporting period last year prior to the merger.

American Riviera Bank’s merger with The Bank of Santa Barbara enabled the combined bank to reach $361 million in total loans. The bank’s non-interest bearing demand deposits represented 33 percent of the $366 million in total deposits as of March 31, 2016.

“The bank had a successful and exciting quarter with the completion of the merger, system conversion, and downtown Santa Barbara branch consolidation. We can now offer a broader selection of products and services in Santa Barbara, Montecito and Goleta,” Jeff DeVine, president and CEO, said in a news release. “Our legal lending limit now exceeds $10 million per relationship and with a 99 percent loan to deposit ratio we are committed to making sure your deposits go to work in our community.”

As of March 31, 2016, American Riviera Bank had $416 million in total assets. Total shares outstanding were 4,308,372 and market capitalization was $47.7 million.

• Contact Glenn Rabinowitz at grabinowitz@pacbiztimes.com.