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River City Bank Reports 2025 Third Quarter Net Income of $19.7 Million, Net Income of $47.4 Million Year to Date, and a Quarterly Cash Dividend
River City Bank Reports 2025 Third Quarter Net Income of $19.7 Million, Net Income of $47.4 Million Year to Date, and a Quarterly Cash Dividend.
About this update from River City Bank
[{"type":"text","content":"\r\n\r\n \r\n \r\n River City Bank Reports 2025 Third Quarter Net Income of $19.7 Million, Net Income of $47.4 Million Year to Date, and a Quarterly Cash Dividend\r\n \r\n \r\n\r\n\r\nRiver City Bank Reports 2025 Third Quarter Net Income of $19.7 Million, Net Income of $47.4 Million Year to Date, and a Quarterly Cash Dividend\r\n\r\n\r\n\r\n\r\n\r\nThe Bank Announces a Ten-For-One Stock Split SACRAMENTO, CALIFORNIA / ACCESS Newswire / October 24, 2025 / River City Bank (\"the Bank\") reported net income of $19.7 million, or $13.56 per diluted share, for the quarter ended September 30, 2025, which compares to $16.2 million, or $11.09 per diluted share, for the same period in 2024. Net income was $47.4 million or $32.44 per diluted share for the nine months ended September 30, 2025, which compares to $52.1 million, or $35.38 per diluted share, for the nine months ended September 30, 2024. The Bank's earnings for the nine months ended September 30, 2025 resulted in a 12.5% return on equity capital and 1.2% return on assets. The Bank's book value per share rose to $370 as of September 30, 2025 from $324 per share as of September 30, 2024.\r\n Significant items impacting quarterly net income for September 30, 2025 and 2024 include the following:\r\n \r\n Higher loan balances - Average loans outstanding for the quarter ended September 30, 2025 were $372 million higher than the same period in the prior year, thereby increasing interest income from loans despite a 0.23% decrease in loan yields to 5.51% (including the impact of fair value hedges) compared to the same period in 2024.\r\n Deposit growth - Average deposits, for the quarter ended September 30, 2025, grew by $227 million compared to the same period in the prior year, partially supporting the Bank's loan growth, with the remainder financed by a reduction in excess cash balances. Cost of funds decreased for the quarter ended September 30, 2025 by 0.29% to 2.80% from the same period in 2024.\r\n The Bank recognized a $45,000 reduction in income related to free-standing interest rate swaps during the current quarter compared to $6.2 million decrease to income in the prior year quarter, or a variance of $6.2 million when comparing the two periods. The current quarter impact is made up of a mark-to-market loss of $1.6 million, largely offset by $1.5 million in net payments received...