River City Bank Reports 2025 First Quarter Net Income of $12.3 Million and a Quarterly Cash Dividend
River City Bank reported Q1 2025 net income of $12.3 million ($8.39 per diluted share), down from $18.7 million ($12.63 per diluted share) in Q1 2024. The bank achieved a 10.0% return on equity and 0.93% return on assets.
Key highlights include:
- Average loan outstandings increased by $580 million year-over-year, with loan yields decreasing to 5.38%
- Average deposits grew by $221 million compared to Q1 2024
- Cost of funds decreased by 0.19% to 2.91%
- Book value per share rose to $345 from $299 year-over-year
The bank maintained strong credit quality with zero non-performing loans and an Allowance for Credit Losses of 2.36%. The board approved a quarterly cash dividend of $0.40 per common share, payable on May 20, 2025.
River City Bank ha riportato un utile netto nel primo trimestre 2025 di 12,3 milioni di dollari (8,39 dollari per azione diluita), in calo rispetto ai 18,7 milioni di dollari (12,63 dollari per azione diluita) del primo trimestre 2024. La banca ha realizzato un rendimento del capitale proprio del 10,0% e un rendimento degli attivi dello 0,93%.
Punti salienti:
- Le esposizioni medie sui prestiti sono aumentate di 580 milioni di dollari su base annua, con un rendimento dei prestiti in calo al 5,38%
- I depositi medi sono cresciuti di 221 milioni di dollari rispetto al primo trimestre 2024
- Il costo dei fondi è diminuito dello 0,19% attestandosi al 2,91%
- Il valore contabile per azione è salito a 345 dollari dai 299 dell’anno precedente
La banca ha mantenuto una solida qualità del credito con zero prestiti in sofferenza e un Accantonamento per Perdite su Crediti pari al 2,36%. Il consiglio ha approvato un dividendo trimestrale in contanti di 0,40 dollari per azione ordinaria, pagabile il 20 maggio 2025.
River City Bank reportó un ingreso neto en el primer trimestre de 2025 de 12,3 millones de dólares (8,39 dólares por acción diluida), disminuyendo desde 18,7 millones de dólares (12,63 dólares por acción diluida) en el primer trimestre de 2024. El banco logró un retorno sobre el patrimonio del 10,0% y un retorno sobre activos del 0,93%.
Puntos clave:
- Los préstamos promedio aumentaron 580 millones de dólares interanualmente, con rendimientos de préstamos que disminuyeron a 5,38%
- Los depósitos promedio crecieron 221 millones de dólares en comparación con el primer trimestre de 2024
- El costo de los fondos disminuyó 0,19% hasta 2,91%
- El valor contable por acción aumentó a 345 dólares desde 299 dólares año tras año
El banco mantuvo una sólida calidad crediticia con cero préstamos morosos y una provisión para pérdidas crediticias del 2,36%. La junta aprobó un dividendo trimestral en efectivo de 0,40 dólares por acción común, pagadero el 20 de mayo de 2025.
River City Bank는 2025년 1분기 순이익이 1,230만 달러(희석 주당 8.39달러)로, 2024년 1분기 1,870만 달러(희석 주당 12.63달러)에서 감소했다고 보고했습니다. 은행은 자기자본이익률 10.0%과 자산수익률 0.93%를 기록했습니다.
주요 내용:
- 평균 대출 잔액이 전년 대비 5억 8,000만 달러 증가했으며, 대출 수익률은 5.38%로 하락
- 평균 예금은 2024년 1분기 대비 2억 2,100만 달러 증가
- 자금 조달 비용은 0.19% 하락하여 2.91% 기록
- 주당 장부 가치는 전년 299달러에서 345달러로 상승
은행은 부실 대출이 전혀 없고 신용손실충당금 비율이 2.36%로 우수한 신용 품질을 유지했습니다. 이사회는 보통주당 0.40달러의 분기 현금 배당금을 승인했으며, 2025년 5월 20일에 지급될 예정입니다.
River City Bank a annoncé un bénéfice net au premier trimestre 2025 de 12,3 millions de dollars (8,39 dollars par action diluée), en baisse par rapport à 18,7 millions de dollars (12,63 dollars par action diluée) au premier trimestre 2024. La banque a réalisé un rendement des capitaux propres de 10,0% et un rendement des actifs de 0,93%.
Points clés :
- Les encours moyens de prêts ont augmenté de 580 millions de dollars d’une année sur l’autre, avec un rendement des prêts en baisse à 5,38%
- Les dépôts moyens ont augmenté de 221 millions de dollars par rapport au premier trimestre 2024
- Le coût des fonds a diminué de 0,19 % pour s’établir à 2,91 %
- La valeur comptable par action est passée de 299 à 345 dollars en un an
La banque a maintenu une qualité de crédit solide avec zéro prêt non performant et une provision pour pertes sur prêts de 2,36 %. Le conseil d’administration a approuvé un dividende trimestriel en espèces de 0,40 dollar par action ordinaire, payable le 20 mai 2025.
River City Bank meldete für das erste Quartal 2025 einen Nettogewinn von 12,3 Millionen US-Dollar (8,39 US-Dollar je verwässerter Aktie), gegenüber 18,7 Millionen US-Dollar (12,63 US-Dollar je verwässerter Aktie) im ersten Quartal 2024. Die Bank erzielte eine Eigenkapitalrendite von 10,0% und eine Gesamtkapitalrendite von 0,93%.
Wichtige Highlights:
- Der durchschnittliche Darlehensbestand stieg im Jahresvergleich um 580 Millionen US-Dollar, wobei die Darlehensrenditen auf 5,38% sanken
- Die durchschnittlichen Einlagen wuchsen im Vergleich zum ersten Quartal 2024 um 221 Millionen US-Dollar
- Die Kosten der Mittel sanken um 0,19% auf 2,91%
- Der Buchwert je Aktie stieg im Jahresvergleich von 299 auf 345 US-Dollar
Die Bank hielt eine starke Kreditqualität mit null notleidenden Krediten und einer Kreditrisikovorsorge von 2,36%. Der Vorstand genehmigte eine vierteljährliche Bardividende von 0,40 US-Dollar je Stammaktie, zahlbar am 20. Mai 2025.
- Book value per share increased 15.4% YoY to $345
- Average loan outstandings grew by $580 million YoY
- Average deposits increased by $221 million YoY
- Zero non-performing loans, indicating strong credit quality
- Healthy 39% efficiency ratio
- Strong capital position with 9.3% Tier 1 Leverage Ratio
- Net income decreased 34.2% YoY to $12.3 million
- Earnings per share declined 33.6% YoY to $8.39
- $5.1 million reduction in income from interest rate swaps
- Loan yields decreased by 0.24% to 5.38%
SACRAMENTO, CALIFORNIA / ACCESS Newswire / April 23, 2025 / River City Bank (the Bank) reported net income of
Significant items impacting quarterly net income for March 31, 2025 and 2024 include the following:
Higher loan balances - Average loan outstandings for the quarter ended March 31, 2025 were
$580 million higher than the same period prior year, thereby increasing interest income from loans despite a0.24% decrease in loan yields to5.38% (including the impact of fair value hedges) compared to the same period in 2024.Deposit growth - Average deposits grew by
$221 million compared to the same period in the prior year, partially supporting the Bank's loan growth, with the remainder financed via reducing excess cash balances. Cost of funds decreased by0.19% to2.91% from the same period in 2024.The Bank recognized a
$5.1 million reduction to income related to free-standing interest rate swaps during the current quarter compared to$6.5 million increase to income in the prior year quarter, or a variance of$11.6 million when comparing the two periods. The current quarter impact is made up of a mark-to-market loss of$6.4 million , partially offset by$1.3 million in net payments received from swap counterparties. These swaps were entered into for the purpose of hedging the medium-term fixed rate loans in the Bank's loan portfolio, as part of the Bank's standard interest rate risk management program. Until these interest rate swaps are designated as a hedge to specific assets or liabilities, the mark-to-market fluctuations (positive and negative) will flow through the income statement.The provision for credit losses for the current quarter was a reversal of
$0.1 million compared to an addition of$4.0 million for the prior year quarter. The Bank had zero non-performing loans as of March 31, 2025, and the Bank's Allowance for Credit Losses for Loans was2.36% of Gross Loans as of March 31, 2025.
"The Bank continues to perform at a high level. The decrease in earnings vs. the prior year period is primarily a function of the accounting for a small portion of our interest rate swap portfolio. All our swaps have been executed to hedge our interest rate risk - none are for speculative purposes. As such, short-term mark-to-market gains and losses in the portfolio are not reflective of the long-term benefit to our balance sheet position," said Steve Fleming, president and chief executive officer. "Our loan quality remains pristine with virtually no delinquencies or non-performing loans. We will remain diligent with our credit monitoring related to potential impacts in the office segment of our commercial real estate loan portfolio and continue to help our commercial customers manage their businesses in the face of economic uncertainty."
"The Bank's high quality investment securities portfolio continues to perform well with relatively small unrealized losses of less than
Shareholders' equity for River City Bank on March 31, 2025 increased
Additionally, Mr. Fleming announced that the Bank's board of directors has approved a cash dividend of
ABOUT RIVER CITY BANK:
Named one of Sacramento Business Journal's "50 Fastest Growing Companies" for each of the past seven years, River City Bank is a leading boutique commercial bank throughout California with assets of over
Contact Information
Pamela Hansen
VP/Director of Marketing and Events
pamela.hansen@rivercitybank.com
7075484292
SOURCE: River City Bank
View the original press release on ACCESS Newswire
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