Earnings Release – Redwood Capital Bancorp – Third Quarter, 2022
Company Reports Increased Dividend
President and CEO,
Total assets as of
Net interest income for the three and nine months ended
Dalby added, “Based on the strength of the balance sheet and consistent strong earnings, the Board of Directors has increased the quarterly dividend from
For more information regarding
A video presentation featuring the company’s financial performance for 2021 through
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
Selected Consolidated Financial Results - Unaudited | ||||||
(In Thousands - except share data) | ||||||
Period Ended | % | |||||
Change | ||||||
Balance Sheet Data (at period end) | ||||||
Total assets |
|
|
|
|||
Total deposits | 507,284 |
500,165 |
|
|||
Total loans (net) | 359,209 |
350,773 |
|
|||
Common equity | 35,804 |
36,631 |
- |
|||
Common shares outstanding | 1,977,596 |
1,977,596 |
|
|||
Summary of Operations ( |
||||||
Interest income | 4,861 |
4,210 |
|
|||
Interest expense | 202 |
280 |
- |
|||
Net Interest Income | 4,659 |
3,930 |
|
|||
Non-interest income | 1,028 |
1,206 |
- |
|||
Non-interest expense | 3,186 |
3,041 |
|
|||
Net Income before provision | 2,501 |
2,095 |
|
|||
Provision for loan losses | 90 |
0 |
|
|||
Income before taxes | 2,411 |
2,095 |
|
|||
Income taxes | 682 |
567 |
|
|||
Net Income | 1,729 |
1,528 |
|
|||
Earnings per share (fully diluted) |
|
|
|
|||
Book value per common share |
|
|
- |
|||
Period Ended | % | |||||
Change | ||||||
Balance Sheet Data (at period end) | ||||||
Total assets |
|
|
- |
|||
Total deposits | 507,284 |
536,473 |
- |
|||
Total loans (net) | 359,209 |
339,556 |
|
|||
Common equity | 35,804 |
39,193 |
- |
|||
Common shares outstanding | 1,977,596 |
1,958,002 |
|
|||
Summary of Operations ( |
||||||
Interest income | 4,861 |
4,459 |
|
|||
Interest expense | 202 |
323 |
- |
|||
Net Interest Income | 4,659 |
4,136 |
|
|||
Non-interest income | 1,028 |
833 |
|
|||
Non-interest expense | 3,186 |
3,039 |
|
|||
Net Income before provision | 2,501 |
1,930 |
|
|||
Provision for loan losses | 90 |
- |
|
|||
Income before taxes | 2,411 |
1,930 |
|
|||
Income taxes | 682 |
540 |
|
|||
Net Income | 1,729 |
1,390 |
|
|||
Earnings per share (fully diluted) |
|
|
|
|||
Book value per common share |
|
|
- |
|||
Summary of Operations (Year to Date) | ||||||
Interest income | 12,935 |
12,967 |
|
|||
Interest expense | 774 |
983 |
- |
|||
Net Interest Income | 12,161 |
11,984 |
|
|||
Non-interest income | 2,907 |
3,000 |
- |
|||
Non-interest expense | 9,339 |
8,937 |
|
|||
Net Income before provision | 5,729 |
6,047 |
- |
|||
Provision for loan losses | 90 |
140 |
- |
|||
Income before taxes | 5,639 |
5,907 |
- |
|||
Income taxes | 1,558 |
1,607 |
- |
|||
Net Income | 4,080 |
4,299 |
- |
|||
Earnings per share (fully diluted) |
|
|
- |
|||
Book value per common share |
|
|
- |
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