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Redwood Capital Bancorp (RWCB) reported solid first-quarter financial performance for 2024, with total assets of $527.1 million, total deposits of $468.1 million, and gross loans increasing to $386.5 million. The company's interest income rose by 12% to $5.7 million, and net income after taxes reached $1.3 million. The board declared a quarterly cash dividend of $0.08 per share, with a tangible book value appreciation of 20.34% from March 2023 to March 2024.
Redwood Capital Bancorp (RWCB) ha riportato una solida performance finanziaria per il primo trimestre del 2024, con un totale di attivi di $527,1 milioni, depositi per $468,1 milioni e prestiti lordi aumentati a $386,5 milioni. Il reddito da interessi dell'azienda è cresciuto del 12%, raggiungendo i $5,7 milioni, e l'utile netto dopo le tasse ha toccato i $1,3 milioni. Il consiglio ha dichiarato un dividendo trimestrale in contanti di $0,08 per azione, con un apprezzamento del valore contabile tangibile del 20,34% da marzo 2023 a marzo 2024.
Redwood Capital Bancorp (RWCB) reportó un sólido rendimiento financiero para el primer trimestre de 2024, con activos totales de $527,1 millones, depósitos totales de $468,1 millones y préstamos brutos que incrementaron a $386,5 millones. Los ingresos por intereses de la compañía aumentaron un 12%, alcanzando $5,7 millones, y el ingreso neto después de impuestos fue de $1,3 millones. La junta declaró un dividendo en efectivo trimestral de $0,08 por acción, con una apreciación del valor tangible del libro de 20,34% de marzo de 2023 a marzo de 2024.
Redwood Capital Bancorp (RWCB)는 2024년 첫 분기에 훌륭한 재무 성과를 보고했습니다. 총 자산은 5억 2,710만 달러, 총 예금은 4억 6,810만 달러였으며, 총 대출액은 3억 8,650만 달러로 증가했습니다. 회사의 이자 수입은 12% 증가하여 570만 달러를 기록했고, 세후 순수익은 130만 달러에 달했습니다. 이사회는 주당 0.08달러의 분기별 현금 배당을 선언했으며, 2023년 3월부터 2024년 3월까지 실질 자본가치가 20.34% 상승했습니다.
Redwood Capital Bancorp (RWCB) a rapporté une solide performance financière pour le premier trimestre de 2024, avec un total d'actifs de 527,1 millions de dollars, des dépôts totaux de 468,1 millions de dollars et des prêts bruts augmentant à 386,5 millions de dollars. Le revenu d'intérêt de l'entreprise a augmenté de 12%, atteignant 5,7 millions de dollars, et le revenu net après impôts a atteint 1,3 million de dollars. Le conseil a déclaré un dividende en espèces trimestriel de 0,08 $ par action, avec une appréciation de la valeur comptable tangible de 20,34% de mars 2023 à mars 2024.
Redwood Capital Bancorp (RWCB) berichtete über eine solide finanzielle Leistung im ersten Quartal 2024 mit einer Gesamtsumme an Vermögenswerten von 527,1 Millionen Dollar, Gesamteinlagen von 468,1 Millionen Dollar und einer Steigerung der Bruttokredite auf 386,5 Millionen Dollar. Die Zinseinnahmen des Unternehmens stiegen um 12% auf 5,7 Millionen Dollar, und der Nettogewinn nach Steuern erreichte 1,3 Millionen Dollar. Der Vorstand beschloss eine vierteljährliche Dividende in Höhe von 0,08 Dollar pro Aktie, wobei der greifbare Buchwert im Vergleich von März 2023 zu März 2024 um 20,34% zulegte.
Positive
Redwood Capital Bancorp (RWCB) reported solid financial performance for the first quarter of 2024.
Total assets reached $527.1 million, total deposits were $468.1 million, and gross loans increased to $386.5 million.
Interest income rose by 12% to $5.7 million, and net income after taxes was $1.3 million.
The board declared a quarterly cash dividend of $0.08 per share with a tangible book value appreciation of 20.34% from March 2023 to March 2024.
Negative
None.
Solid First Quarter Financial Performance – Dividend Continued
EUREKA, Calif.--(BUSINESS WIRE)--
On May 1, 2024, REDWOOD CAPITAL BANCORP (OTCQX:RWCB), the only locally owned and operated community bank holding company in Humboldt County, announced unaudited financial results for the three month period ended March 31, 2024. Redwood Capital Bank, the company’s wholly owned subsidiary, celebrated its twenty-year milestone by reporting solid quarterly earnings.
John Dalby, President and CEO, remarked, “2024 marks Redwood Capital Bank’s 20-year milestone. On behalf of the Board of Directors, management and staff, thank you to our customers, shareholders and the community for your support and partnerships over the past two decades. We remain grateful to our staff for their outstanding work and to you for the relationships we have developed and fostered since 2004.”
Dalby noted that the company’s long-term track record of strong performance has not gone unnoticed, adding, “Consistent performance has resulted in consistent recognition. Once again, Redwood Capital Bank has been recognized by the financial industry. Congratulations to the Redwood Capital Bank staff on the receipt of the Findley Reports rating of Super Premier Performing status, as well as the 5-Star rating from Bauer Financial. Both ratings are the highest given from two of the most well-known and respected bank rating firms within the industry.”
The company continues to maintain a strong balance sheet. Total assets as of March 31, 2024, were $527.1 million. Total deposits as of March 31, 2024, were $468.1 million. Gross loans increased 2% to $386.5 million from March 31, 2023, to March 31, 2024. The company is in the desirable position with a liquidity ratio of 11.23%, and 12.35% leveraged capital ratio and 10.90% in tangible capital.
Interest income for the quarter ended March 31, 2024, totaled $5.7 million, an increase of 12% from the $5.1 million reported for the quarter ended March 31, 2023. The company reported net income after taxes in the first quarter of 2024 of $1.3 million. As of March 31, 2024, the book value for the company was up 15% to $23.99 per common share from the quarter ended March 31, 2023.
Additionally, the Board of Directors declared a quarterly cash dividend of $0.08 per share, payable on May 13, 2024, to shareholders of record at the close of business on April 29, 2024. The annualized dividend of $0.32 combined with Tangible Book Value appreciation from March 31, 2023, to March 31, 2024, was 20.34%. Market value for RWCB was $20.51 per share as of close of business March 31, 2024.
For more information regarding Redwood Capital Bancorp, please visit our website at www.redwoodcapitalbank.com, contact Renee Byers, CFO, at (707) 444-9849, or stop by our headquarters and main office at 402 “G” Street, Eureka, CA 95501. Redwood Capital Bancorp (OTCQX:RWCB) trades on the OTCQX Best Market. Companies meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws and have a professional third-party sponsor introduction. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.
This press release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, and competition within the business areas in which the Bank is conducting its operations, including the real estate market in California and other factors beyond the Bank’s control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management’s view only as of the date hereof. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.
