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North Bay Business Journal

Monday, February 17, 2014, 5:00 am

Business News: Week of Feb. 17, 2014

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    Banking

    American River Bankshares, which folded subsidiary North Coast Bank into its parent brand in 2012, reported net income of $890,000, or 10 cents per diluted share for the fourth quarter, ended Dec. 31, compared with $870,000, or 9 cents per diluted share a year before. For the year, net income was $3.1 million or 34 cents per diluted share, compared with $3.2 million or 34 cents per diluted share the year before. New-loan production was up 74 percent from the prior year. Overall loans were roughly flat at $252 million. Portfolio-quality improvements included a 45.9 percent decrease in foreclosed real estate during 2013.

    Consumer Products

    San Rafael-based EO Products changed its name to Small World Trading Co. The company will still make its line of natural-ingredients personal care products in Marin County. The name change was needed because of the addition of the Everyone brand to the original EO brand. The Everyone brand was introduced for more mass-market reach with larger sizes and lower prices.

    Technology

    Management of Cyan, a Petaluma-based provider of software-defined networking and packet-optical solutions for network operators, will attend the March 13 Cowen Networking and Communications 1×1 Forum in New York City. Mark FLoyd, chairman and chief executive officer, and Michael Hatfield, president, and Mike Zellner, vice president and chief financial officer, will participate. This follows their participation in the Goldman Sachs 2014 Technology and Internet Conference on Feb. 12 in San Francisco.

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