Skip to content
  • Home
  • World News
  • Business
  • Aviation
195 news

195News

All the news that's fit to print

  • Home
  • World News
  • Business
  • Aviation
  • Toggle search form
  • Mineshaft Restaurant and Pizzeria in Ouray Expands Delivery Services to Include Ridgway and Surrounding Areas
    Mineshaft Restaurant and Pizzeria in Ouray Expands Delivery Services to Include Ridgway and Surrounding Areas Business
  • Areon Network remarks 1 million testnet transactions in the first week
    Areon Network remarks 1 million testnet transactions in the first week World News
  • FAA Increasing Oversight of Boeing Production and Manufacturing
    FAA Increasing Oversight of Boeing Production and Manufacturing Aviation
  • War Day 143: war diaries w/Advisor to Ukraine President, Intel Officer @Alexey Arestovych  & #Feygin
    War Day 143: war diaries w/Advisor to Ukraine President, Intel Officer @Alexey Arestovych & #Feygin World News
  • Additional Humanitarian Assistance for the People of Yemen
    Additional Humanitarian Assistance for the People of Yemen World News
  • Flooring Contractors Market Size, Share, And Growth For 2023-2032
    Flooring Contractors Market Size, Share, And Growth For 2023-2032 World News
  • Landmark UK Solar Farm Report Reveals Substantial Environmental Benefits on Eve of Consultation
    Landmark UK Solar Farm Report Reveals Substantial Environmental Benefits on Eve of Consultation Business
  • New Leaf Detox and Treatment Inc. Offers a New Range of Treatments, Including Cocaine Rehab and Pet Friendly Rehab
    New Leaf Detox and Treatment Inc. Offers a New Range of Treatments, Including Cocaine Rehab and Pet Friendly Rehab World News
River City Bank Reports Net Income of .0 Million for the Third Quarter of 2022 and .3 Million Year to Date

River City Bank Reports Net Income of $11.0 Million for the Third Quarter of 2022 and $36.3 Million Year to Date

Posted on October 19, 2022 By NewsEditor
River City Bank Reports Net Income of .0 Million for the Third Quarter of 2022 and .3 Million Year to DateRiver City Bank Reports Net Income of .0 Million for the Third Quarter of 2022 and .3 Million Year to DateSACRAMENTO, Calif. - October 19, 2022 - (Newswire.com)

River City Bank (the Bank) reported net income of $11.0 million, or $7.43 per diluted share, for the quarter ending September 30, 2022, which was $663,000 less than the $11.7 million, or $7.92 per diluted share, for the same period in 2021. Net income was $36.3 million, or $24.51 per diluted share, for the nine months ending September 30, 2022, more than the $34.7 million, or $23.51 per diluted share, for the nine months ending September 30, 2021. Significant items impacting quarterly net income for September 30, 2022 and 2021 include the following:

  • Higher loan balances — Average loan outstandings were $538 million higher than the prior year quarter, thereby increasing net interest income. 
  • The provision for loan losses for the current quarter of $3.73 million was higher than the $2.0 million for the prior year quarter.
  • The Bank recorded an elevated level ($1.9 million) of prepayment premium income on commercial real estate loans that paid off prior to their maturity dates for the quarter ending September 30, 2021, compared to only $124,000 for the current quarter.
  • Deferred loan fee income associated with Paycheck Protection Program (PPP) loans was lower in the current quarter with $50,000, compared to the significantly higher $1.4 million for the quarter ending September 30, 2021. 

"We are very pleased with the $416 million or 15% loan growth during the nine months ending September 30, 2022 (after excluding the $32 million reduction in PPP loans)," said Steve Fleming, president and chief executive officer of River City Bank. "Our asset quality remains strong with virtually no delinquencies or non-performing loans; however, we remain cautious about the impact to the office segment of commercial real estate due to the reduction in demand as employers provide work-from-home opportunities."

"Operational efficiency remains a core competency for the Bank, as evidenced by our 28 percent efficiency ratio, after excluding the interest rate swap mark-to-market gain of $7 million and the $3.9 million realized loss on sale of investment securities for the nine months ending September 30, 2022," said Anker Christensen, chief financial officer of River City Bank. 

Shareholders' equity for River City Bank on September 30, 2022, increased $32 million to $340 million, when compared to the $308 million as of December 31, 2021. The increase was driven by current year retained earnings, partially offset by a $6.5 million increase in accumulated other comprehensive loss as the increase in short- and medium-term interest rates resulted in unrealized losses in the Bank's investment securities portfolio. The Bank's capital ratio remains well above the regulatory definition for being Well Capitalized with a Tier 1 Leverage Ratio of 9.0% as of September 30, 2022.

ABOUT RIVER CITY BANK:

Named one of Sacramento Business Journal's "50 Fastest Growing Companies" for each of the past six years, River City Bank is the Sacramento region's premier business bank with assets of over $3.9 billion. River City Bank offers a comprehensive suite of banking services, including loans, deposits and cash management tools to the business, consumer and commercial real estate sectors. With tailored, executive-level service and a long-term investment-grade credit rating from Standard & Poor's, River City Bank redefines the banking experience and every touch point that surrounds it. River City Bank is the largest, independent, locally owned and managed bank in the Sacramento region with offices in the San Francisco Bay Area and a presence in Southern California. For additional information, please visit www.rivercitybank.com or call (916) 567-2600. Member FDIC. Equal Housing Lender.


Contact Information:
Amber Holwell
VP - Director of Marketing
[email protected]
916-567-2600
Related Files
Q3 2022 earnings data.pdf



Press Release Service by Newswire.com

Original Source: River City Bank Reports Net Income of $11.0 Million for the Third Quarter of 2022 and $36.3 Million Year to Date River City Bank Reports Net Income of $11.0 Million for the Third Quarter of 2022 and $36.3 Million Year to Date
Business

Post navigation

Previous Post: Book Featuring Autistic Superhero Released
Next Post: User Friendly Home Services Announces Pair of Acquisitions

Related Posts

  • Healthcare Interoperability Solutions Market Size 2021 : Surpass ,544.6 million by 2030
    Healthcare Interoperability Solutions Market Size 2021 : Surpass $21,544.6 million by 2030 Business
  • Bartholomew Media Group Partners with RKO Construction to Elevate Digital Presence
    Bartholomew Media Group Partners with RKO Construction to Elevate Digital Presence Business
  • 7×24 Exchange DC Chapter Awards ,000 in College Scholarships to Future Data Center Leaders
    7×24 Exchange DC Chapter Awards $55,000 in College Scholarships to Future Data Center Leaders Business
  • TK Credit Recovery is Hiring for Ten Positions and Plans to Hire 50 More by End of 2024
    TK Credit Recovery is Hiring for Ten Positions and Plans to Hire 50 More by End of 2024 Business
  • National Bar Association President Issues Statement Condemning Trump Administration’s Attempt to Erase Black History
    National Bar Association President Issues Statement Condemning Trump Administration’s Attempt to Erase Black History Business
  • Holiday Swap Announces an Exclusive Partnership With Shariah-Compliant HAQQ Network, Bringing New Technologies to 1M Users Across 185 Countries
    Holiday Swap Announces an Exclusive Partnership With Shariah-Compliant HAQQ Network, Bringing New Technologies to 1M Users Across 185 Countries Business
June 2025
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
30  
« May    
last celebrity gossip
Gossip Stone - celebrity life and gossip

Recent Posts

  • Market Share, Segments, and Emerging TrendsJune 23, 2025
  • IMPORTANT NOTICE TO ARMADA WASTE MANAGEMENT/GPB WASTE MANAGEMENT INVESTORS WHO SUFFERED LOSSESJune 23, 2025
  • R2 Recycling Expands E-Waste Pickup Services for Businesses & SchoolsJune 23, 2025
  • IMPORTANT NOTICE TO GPB NYC DEVELOPMENT INVESTORS WHO SUFFERED LOSSESJune 22, 2025
  • Alexander Döll Appointed CEO of the Methanol InstituteJune 22, 2025
Brand Values Content
VUGA Enterprises - media network PR & Marketing
  • Sports Events Market Expected to Generate 9.07 Billion by 2031, Growing At a CAGR of 10.5% From 2022-2031
    Sports Events Market Expected to Generate $609.07 Billion by 2031, Growing At a CAGR of 10.5% From 2022-2031 World News
  • Day 441: war diaries w/Former Advisor to Ukraine President, Intel Officer  @arestovych  & #Feygin
    Day 441: war diaries w/Former Advisor to Ukraine President, Intel Officer @arestovych & #Feygin World News
  • Gven Sariol, CEO & Founder of ARCrypto, A DotCom Magazine Exclusive Interview
    Gven Sariol, CEO & Founder of ARCrypto, A DotCom Magazine Exclusive Interview World News
  • Additional Humanitarian Assistance for the People of Yemen
    Designation of Syrian Military Official World News
  • Secretary Blinken’s Travel to Kazakhstan, Uzbekistan, and India
    Secretary Blinken’s Travel to Kazakhstan, Uzbekistan, and India World News
  • Redefining Parenting with Expertise in Child Development, Psychology, and Nutrition
    Redefining Parenting with Expertise in Child Development, Psychology, and Nutrition World News
  • Day 469: war diaries w/Former Advisor to Ukraine President, Intel Officer  @arestovych  & #Feygin
    Day 469: war diaries w/Former Advisor to Ukraine President, Intel Officer @arestovych & #Feygin World News
  • War Day 154: war diaries w/Advisor to Ukraine President, Intel Officer @arestovych  & #Feygin
    War Day 154: war diaries w/Advisor to Ukraine President, Intel Officer @arestovych & #Feygin World News
aerospace company
stem cell clinic in kiev
medical spa in miami
Fashion TV free

Copyright © 2023 195 News. All Rights Reserved by Coolaser | Partner of VUGA Enterprises |  Advertising: Get Published

Powered by .