River City Bank Reports Third Quarter 2026 Results and Announces a Quarterly Cash Dividend
Key Highlights
- ➤Q3 net income $30.6 million, up 55.5% year over year
- ➤Q3 EPS $2.16, up 58.8% year over year
- ➤Core PTPP income $29.3 million, up 15% sequentially
- ➤Average loans rose 8% year over year; deposits increased 16%
- ➤Board approved $0.05 quarterly dividend, payable November 17, 2026
Expert Statements
Steve Fleming, President and Chief Executive Officer of River City Bank
“This quarter was quite exceptional in the Bank’s 53-year history due to our IPO and listing on the Nasdaq. We believe that becoming a public company will enable us to further enhance shareholder value, which has always been management's and the Board's “North Star”. The Bank also delivered solid core operating results in the third quarter of 2026, as evidenced by the operating metrics and continued compounding of book value per share”
Steve Fleming, President and Chief Executive Officer of River City Bank
“In addition, the Bank grew loans by 3.7% over the prior quarter-end and credit quality remains pristine as we have not suffered any material losses on loans originated since the current management team took over in 2008.”
Steve Fleming, President and Chief Executive Officer of River City Bank
“The Bank recognized a $17.1 million MTM gain related to its undesignated interest rate swaps. The Bank systematically enters interest rate swaps to mitigate interest rate risk and all swaps are entered into for economic and risk management purposes (regardless of accounting treatment). Approximately 16% of the Bank’s interest rate swaps are undesignated as of September 30, 2026, and until these interest rate swaps are designated as a hedge to specific assets or liabilities, the MTM fluctuations (positive and negative) will flow through the income statement.”
Brian Killeen, Chief Financial Officer of River City Bank
“The Bank continues to perform at a high level, as reflected in the following key metrics: return on average equity, return on average assets, and operating efficiency. We view operational efficiency as a competitive advantage, contributing to sustained profitability and growth in shareholder value. Despite the increase in U.S. Treasury rates during the current quarter, the Bank’s high quality, short duration investment securities portfolio continued to perform well with a relatively low unrealized loss position of 1.5% as of September 30, 2026.”
River City Bank Reports Third Quarter 2026 Results and Announces a Quarterly Cash Dividend
River City Bank (Nasdaq: RCBC) ("the Bank") reported net income of $30.6 million or $2.16 per share for the quarter ended September 30, 2026, which compares to $19.7 million, or $1.36 per share, for the same period in 2025. Net income was $68.2 million or $4.75 per share for the nine months ended September 30, 2026, which compares to $47.4 million, or $3.24 per share, for the nine months ended September 30, 2025. The Bank’s earnings for the quarter ended September 30, 2026 resulted in a 21.06% return on average equity and a 1.92% return on average assets. The Bank’s book value per share rose 14% to $42.32 as of September 30, 2026 from $37.04 per share as of September 30, 2025.
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