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Activist investor raises American River stake

Terry Maltese and Maltese Capital Management LLC now beneficially own 505,254 shares of American River Bankshares' common stock, up from 440,709 reported in March.

That raises the shareholder activist's stake in the Rancho Cordova, Calif.-based company to 7.91% from 6.6%.

From Aug. 16 through Oct. 2, the group purchased an aggregate of 47,345 American River shares at per-share prices ranging from $13.1615 to $14.0767.