American River (AMRB) Commences $22M Common Offering

American River Bankshares (NASDAQ: AMRB) today announced that it has commenced an offering of approximately $22 million of its common stock in an underwritten public offering with Howe Barnes Hoefer & Arnett, Inc. acting as lead manager and Wunderlich Securities, Inc. serving as co-manager. The Company intends to grant the underwriters an option to purchase up to an additional $3.3 million of common stock offered to cover over-allotments, if any.

The Company intends to use the net proceeds from the offering for general corporate purposes including organic growth and opportunistic acquisitions.