American River Bankshares in Sacramento announced Monday that it has begun a stock offering to raise up to $25.3 million.
The $566 million-asset company said the proceeds would be used for general corporate purposes, including organic growth and possibly acquisitions.
American River reported in October that it earned $827,000 in the third quarter, down 57% from a year earlier.
Its nonperforming assets fell 11% from June 30, to $21.5 million, or 3.8% of total assets, after it charged off $1.2 million of its loans.
Its nonperforming assets were $14.6 million a year earlier.
