River City Bank Reports 9th Consecutive Year with Record Net Income in 2024 and an Increase in the Quarterly Cash Dividend
River City Bank (RCBC) achieved its 9th consecutive year of record net income, reporting $73.4 million ($49.90 per diluted share) for 2024, up from $60.3 million in 2023. The bank's Q4 2024 net income reached $21.3 million ($14.52 per diluted share), compared to $16.8 million in Q4 2023.
Key performance metrics include a 16.3% return on equity and 1.42% return on assets. Book value per share increased to $336 from $287. The bank's growth was driven by higher loan balances ($515M increase), deposit growth ($734M increase), and improved investment yields (4.76% from 3.45%). Total assets reached $5.1 billion, with an efficiency ratio of 27%.
The board approved an increased quarterly cash dividend of $0.40 per share (up from $0.37), payable on February 26, 2025, to shareholders of record as of February 12, 2025.
River City Bank (RCBC) ha raggiunto il suo 9° anno consecutivo di utili netti record, riportando 73,4 milioni di dollari (49,90 dollari per azione diluita) per il 2024, in aumento rispetto ai 60,3 milioni di dollari del 2023. Gli utili netti del quarto trimestre 2024 della banca hanno raggiunto 21,3 milioni di dollari (14,52 dollari per azione diluita), rispetto ai 16,8 milioni di dollari del Q4 2023.
I principali indicatori di performance includono un ritorno equitario del 16,3% e un ritorno sugli attivi dell'1,42%. Il valore contabile per azione è aumentato a 336 dollari da 287 dollari. La crescita della banca è stata sostenuta da un aumento dei prestiti (un incremento di 515 milioni di dollari), della crescita dei depositi (un incremento di 734 milioni di dollari) e di rendimenti sugli investimenti migliorati (4,76% da 3,45%). Il totale degli attivi ha raggiunto 5,1 miliardi di dollari, con un rapporto di efficienza del 27%.
Il consiglio ha approvato un aumento del dividendo in contante trimestrale a 0,40 dollari per azione (rispetto ai precedenti 0,37 dollari), pagabile il 26 febbraio 2025, agli azionisti registrati al 12 febbraio 2025.
River City Bank (RCBC) logró su noveno año consecutivo de ingresos netos récord, reportando 73.4 millones de dólares (49.90 dólares por acción diluida) para 2024, un aumento en comparación con los 60.3 millones de dólares en 2023. Los ingresos netos del cuarto trimestre de 2024 alcanzaron 21.3 millones de dólares (14.52 dólares por acción diluida), en comparación con 16.8 millones de dólares en el cuarto trimestre de 2023.
Los principales indicadores de rendimiento incluyen un retorno sobre el capital del 16.3% y un retorno sobre los activos del 1.42%. El valor contable por acción aumentó a 336 dólares desde 287 dólares. El crecimiento del banco fue impulsado por un aumento en los saldos de préstamos (incremento de 515 millones de dólares), crecimiento de depósitos (incremento de 734 millones de dólares) y rendimientos de inversión mejorados (4.76% desde 3.45%). Los activos totales alcanzaron 5.1 mil millones de dólares, con un ratio de eficiencia del 27%.
La junta aprobó un aumento en el dividendo en efectivo trimestral a 0.40 dólares por acción (frente a 0.37 dólares), que se pagará el 26 de febrero de 2025, a los accionistas registrados al 12 de febrero de 2025.
리버 시티 은행 (RCBC)는 2024년에 9년 연속으로 기록적인 순이익을 달성하여 7340만 달러(희석주당 49.90달러)를 보고했습니다. 이는 2023년의 6030만 달러에서 증가한 수치입니다. 은행의 2024년 4분기 순이익은 2130만 달러(희석주당 14.52달러)에 달하며, 이는 2023년 4분기의 1680만 달러와 비교됩니다.
주요 성과 지표에는 16.3%의 자기자본 수익률과 1.42%의 자산 수익률이 포함됩니다. 주당 장부 가치는 287달러에서 336달러로 증가했습니다. 은행의 성장은 대출 잔액의 증가(5억 1500만 달러 증가), 예금 성장(7억 3400만 달러 증가), 그리고 개선된 투자 수익률(3.45%에서 4.76%로)이 주도했습니다. 총 자산은 51억 달러에 도달하였으며, 효율성 비율은 27%입니다.
이사회는 분기별 현금 배당금을 주당 0.40달러(이전 0.37달러에서 증가)로 인상하기로 승인하였으며, 이는 2025년 2월 26일에 2025년 2월 12일 기준의 주주에게 지급될 예정입니다.
River City Bank (RCBC) a connu sa neuvième année consécutive de revenus nets record, avec un rapport de 73,4 millions de dollars (49,90 dollars par action diluée) pour 2024, en hausse par rapport à 60,3 millions de dollars en 2023. Le revenu net du quatrième trimestre 2024 de la banque a atteint 21,3 millions de dollars (14,52 dollars par action diluée), contre 16,8 millions de dollars au quatrième trimestre 2023.
Les indicateurs clés de performance comprennent un retour sur fonds propres de 16,3 % et un retour sur actifs de 1,42 %. La valeur comptable par action a augmenté à 336 dollars contre 287 dollars. La croissance de la banque a été soutenue par une augmentation des soldes de prêts (une augmentation de 515 millions de dollars), une croissance des dépôts (une augmentation de 734 millions de dollars) et une amélioration des rendements d'investissement (4,76 % contre 3,45 %). Les actifs totaux ont atteint 5,1 milliards de dollars, avec un ratio d'efficacité de 27 %.
Le conseil d'administration a approuvé une augmentation du dividende en espèces trimestriel à 0,40 dollar par action (contre 0,37 dollar auparavant), payable le 26 février 2025, aux actionnaires inscrits au 12 février 2025.
River City Bank (RCBC) erzielte im Jahr 2024 das neunte aufeinanderfolgende Jahr mit Rekordnettoeinkommen und berichtete von 73,4 Millionen Dollar (49,90 Dollar pro verwässerter Aktie), ein Anstieg im Vergleich zu 60,3 Millionen Dollar im Jahr 2023. Das Nettoergebnis der Bank im vierten Quartal 2024 betrug 21,3 Millionen Dollar (14,52 Dollar pro verwässerter Aktie) im Vergleich zu 16,8 Millionen Dollar im vierten Quartal 2023.
Wichtige Leistungskennzahlen sind eine Eigenkapitalrendite von 16,3% und eine Gesamtkapitalrendite von 1,42%. Der Buchwert pro Aktie stieg auf 336 Dollar von 287 Dollar. Das Wachstum der Bank wurde durch höhere Kreditbestände (Anstieg um 515 Millionen Dollar), Wachstums bei Einlagen (Anstieg um 734 Millionen Dollar) und verbesserte Renditen aus Investitionen (4,76% gegenüber 3,45%) angetrieben. Die Totalanlagen beliefen sich auf 5,1 Milliarden Dollar, mit einer Effizienzrate von 27%.
Der Vorstand genehmigte eine Erhöhung der vierteljährlichen Bardividende auf 0,40 Dollar pro Aktie (von vorher 0,37 Dollar), zahlbar am 26. Februar 2025 an die zum 12. Februar 2025 eingetragenen Aktionäre.
- Record net income of $73.4M in 2024, up 21.7% from 2023
- Q4 2024 net income increased 26.8% to $21.3M
- Strong ROE of 16.3% and ROA of 1.42%
- Book value per share grew 17% to $336
- Average loan growth of $515M year-over-year
- Deposit growth of $734M compared to prior year
- Excellent efficiency ratio of 27%
- Quarterly dividend increased to $0.40 from $0.37
- Zero credit losses in 2024
- Well-capitalized with 9.1% Tier 1 Leverage Ratio
- Net interest margin declined slightly to 2.66% from 2.74%
- Potential risk exposure to office real estate segment due to work-from-home trends
SACRAMENTO, CALIFORNIA / ACCESS Newswire / January 30, 2025 / River City Bank reported its 9th consecutive year of record net income with
The improved net income versus the prior year was driven by the following factors:
Higher loan balances - Average loan outstandings in 2024 were
$515 million higher than the prior year and yields on loans increased by0.39% (including the impact of the fair value hedges), driving the increase in loan interest income.Deposit growth - Average deposits grew by
$734 million compared to the prior year, supporting growth in the Bank's loans and liquid assets.Increased investment securities balances and yields - Average investment securities and cash balances grew by
$210 million while yields increased from3.45% in 2023 to4.76% in 2024.Stable net interest margin (NIM) - Despite higher deposits costs in 2024, NIM decreased by only
0.08% to2.66% in 2024 from2.74% in the prior year. The stable NIM, supported by the Bank's hedging program, combined with the significant loan growth, allowed the Bank to grow net interest income by$15.8 million in 2024.The provision for credit losses was
$7.5 million in 2024, which was$5.1 million less than the$12.6 million provision expense in 2023. The Bank did not experience any credit losses during the year and the Bank's Allowance for Credit Losses for Loans was2.39% of Gross Loans as of December 31, 2024.
"The 2024 results and continued growth of the Bank to over
"Operational efficiency remains a core competency for the Bank, as evidenced by our 27 percent efficiency ratio for the year ended December 31, 2024." said Brian Killeen, chief financial officer of River City Bank. "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 for the year ended December 31, 2024, 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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