Contact Information: Investor Contact: Mitchell A. Derenzo Chief Financial Officer American River Bankshares 916-231-6723 Media Contact: Diana Walery Corporate Communications American River Bankshares 916-231-6717
American River Bankshares Announces Pricing of Public Offering of Common Stock
| Source: American River Bankshares
SACRAMENTO, CA--(Marketwire - December 8, 2009) - American River Bankshares (the "Company")
(NASDAQ : AMRB ), the Northern California-based holding company for American
River Bank (the "Bank"), today announced the pricing of an underwritten
public offering of 3,520,000 of its common stock at a price of $6.25 per
share. The net proceeds to the Company, after deducting underwriting
discounts and commissions and estimated offering expenses, are expected to
be approximately $20.7 million. Howe Barnes Hoefer & Arnett, Inc. is acting
as lead manager and Wunderlich Securities, Inc. as co-manager. The Company
has granted the underwriter a 30 day option to purchase up to an additional
528,000 shares of the Company's common stock to cover over-allotments, if
any. The Company expects to close the transaction, subject to customary
conditions, on or about December 10, 2009.
The Company intends to use the net proceeds from the offering for general
corporate purposes including organic growth and opportunistic acquisitions.
This announcement shall not constitute an offer to sell or the solicitation
of an offer to buy these securities, nor shall there be any offer or sale
of these securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. A registration statement relating
to these securities has been filed with the Securities and Exchange
Commission. The offering will be made only by means of a prospectus which
is a part of such registration statement. A copy of the prospectus may be
obtained from Howe Barnes Hoefer & Arnett, Inc. at 222 S. Riverside Plaza,
Chicago, Illinois 60606, 1-800-800-4693.
About American River Bankshares
American River Bankshares is the parent company of American River Bank, a
community business bank serving the Greater Sacramento Area in California
that operates a family of financial services providers, including North
Coast Bank in Sonoma County and Bank of Amador in Amador County. For more
information, please call (916) 851-0123 or visit www.amrb.com;
www.americanriverbank.com; www.northcoastbank.com; www.bankofamador.com.
Forward-Looking Statements
Certain statements contained herein are forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934 and subject to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995, that
involve risks and uncertainties. Actual results may differ materially from
the results in these forward-looking statements. Factors that might cause
such a difference include, among other matters, changes in interest rates,
economic conditions, governmental regulation and legislation, credit
quality, and competition affecting the Company's businesses generally; the
risk of natural disasters and future catastrophic events including
terrorist related incidents; and other factors discussed in the Company's
Annual Report on Form 10-K for the year ended December 31, 2008, and in
subsequent reports filed on Form 10-Q and Form 8-K. The Company does not
undertake any obligation to publicly update or revise any of these
forward-looking statements, whether to reflect new information, future
events or otherwise, except as required by law.