American Riviera Bank celebrates 15 years on the Central Coast

American Riviera Bank Paso Robles branch.

The bank provided a lunch for account holders to celebrate

– American Riviera Bank announced this week that it is celebrating its 15th birthday on the Central Coast. The bank hosted a luncheon for account holders at each of its branches on Friday, July 16 to celebrate.

American Riviera Bank opened on July 18, 2006 at 1033 Anacapa Street in Santa Barbara, California, with the support of approximately 400 local shareholders. Michelle Martinich, the Bank’s Chief Financial Officer, was a founding leader as well as a board of directors of the local community. That day, the bank had fewer than 20 employees, including four executives. Jeff DeVine joined the team in 2008 as President and CEO.

The years that followed were a time of tremendous growth and community support. In 2012, the bank opened its residential credit department under the leadership of Lori Murray. In 2013, American Riviera expanded to Montecito, opening a new branch in the village of San Ysidro. In 2016, the Bank merged with Bank of Santa Barbara, adding a branch in Goleta on Calle Real and a Small Business Administration loan department. Through the merger, Joanne Funari has been added to the management team as Executive Vice President and Chief Operating Officer.

The bank expanded in San Luis Obispo County in 2018 with a branch in Paso Robles on Spring Street, which was quickly followed by a branch in 2019 in San Luis Obispo on Higuera Street. In early 2019, the bank finalized a capital increase of $ 8.5 million of common stock to support the huge growth in loans and deposits. In 2020, Steven Harding was hired as the regional president of the San Luis Obispo County Market.

American Riviera Bank broadened the depth and expertise of its leadership team in 2019 by adding risk management and technology directors with a view to surpassing $ 1 billion in assets and future growth. The Bank currently employs nearly 125 people in five branches and residential and commercial loan offices. The Bank has been recognized as “Best Places to Work” by the Pacific Coast Business Times for the past two years.
American Riviera Bank’s fifteenth year has not been without challenges. The pandemic has put community banks on the front line as businesses on the central coast face unprecedented hardship. The bank funded $ 118 million in Small Business Administration (SBA) Paycheck Protection Program (PPP) loans to 614 companies in 2020, and its SBA department is still actively helping customers get those remittances. ready. In 2021, the bank financed an additional 420 PPP loans for a total of $ 68 million. To date, the bank has managed to secure the SBA’s rebate for over 700 of the total PPP loans, only a handful of the first round remain.

During the COVID-19 pandemic, American Riviera Bank supported more than 150 nonprofits on the Central Coast through its donation and sponsorship program and, in lieu of its annual customer party, donated $ 75,000 additional to non-profit organizations chosen by its clients. The bank’s employee-led giving program provided additional donations to 10 nonprofits. As a member of the Federal Home Loan Bank, American Riviera Bank was able to maximize the benefit of its donations to organizations like the Foodbank with matching funds. In addition, the bank provided the public with personal protective equipment (PPE), including alcohol wipes, sprays and masks, and partnered with the Goleta Chamber of Commerce to provide PPE to businesses in need. .

For ten years in a row, American Riviera Bank has been recognized for its strong financial performance by Findley Reports and has received the highest “Super Premier” rating from Findley every year since 2016. The bank is currently rated five stars by Bauer Financial and was rated “Outstanding” by the Federal Deposit Insurance Corporation in 2020 for its performance under the Community Reinvestment Act. In addition, the bank’s employees have received numerous awards, including Jeff DeVine, President and CEO, named Executive of the Year in 2019 at the South Coast Business and Technology Awards and Michelle Martinich, Chief Financial Officer. , being named Pacific Coast Business Times Editor’s Choice of the Year for 2019. Joanne Funari, COO has been repeatedly named one of the Pacific Coast Business Times Best Women in Business and Eusebio Cordova, Director of Credit, was a recipient of the 2016 Pacific Coast Business Times Latino Business Award for Banking and Finance and was also recognized as one of the top 40 recipients under 40 in 2017.

American Riviera Bank has been profitable every year since 2010, but 2021 has been truly remarkable with an ROA of 1.07% and an ROE of 12.34% for the 1st quarter of 2021, and a record quarterly net profit of almost 2.6. millions of dollars. The Bank also broke the $ 1 billion mark with total assets of $ 1,083 million as of March 31, 2021. American Riviera Bank increased total deposits to $ 983 million at the end of the first quarter, an increase of $ 111 million since December 31, 2020. The bank also reported total loans of $ 781 million, including $ 119 million in PPP loans, an 8% increase from December 31, 2020.

“We are incredibly proud of what the Bank has accomplished over the past fifteen years. Jeff DeVine, President and CEO, said. “Community banking plays a vital role in our local economy, so we are grateful to our hard-working employees and for the support we have received from our customers and shareholders. Today we celebrate all that we have accomplished together.

About the Author: Staff News

Paso Robles Daily News press staff wrote or edited this story based on local contributors and press releases. News staff can be reached at

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