River City Bank Reports $30.6 Million Third-Quarter Net Income on Swap Gain

River City Bank reported third-quarter 2026 net income of $30.6 million, or $2.16 per share, up from $19.6 million in the prior quarter, and approved a quarterly cash dividend, Business Wire reported on October 23, 2026. River City Bank is an independent community bank headquartered in Sacramento, California, with 8 Sacramento branches and a San Francisco commercial office.

River City Bank's Swap Gain and Core Results

Net income rose from $19.7 million, or $1.36 per share, in the third quarter of 2025. The bank said the increase was primarily due to a $17.1 million mark-to-market gain on certain interest rate swaps, which it attributed to an increase in U.S. Treasury rates during the quarter.

Adjusted earnings per share fell to $1.29 from $1.43 a year earlier. Core pre-tax, pre-provision income rose 15% to $29.3 million from the trailing quarter and 3% from $28.4 million a year earlier.

Average loans grew 2% to $108 million from the trailing quarter and 8% to $363 million from a year earlier. Average deposits rose 3% to $158 million from the prior quarter and 16% to $766 million year over year. The bank reported zero non-performing loans as of September 30, 2026, and an allowance for credit losses of 2.30% of total loans.

"This quarter was quite exceptional in the Bank's 53-year history due to our IPO and listing on the Nasdaq," said Steve Fleming, President and Chief Executive Officer.

River City Bank's Asset Growth and Prior Results

According to akta.pro company records, River City Bank crossed $6.05 billion in total assets for the first time as of March 31, 2026, supported by $238 million in first-quarter 2026 deposit growth. The same records show first-quarter 2026 net income of $17.9 million, a 45.8% increase from $12.3 million in the first quarter of 2025.

River City Bank's IPO and Earlier Filings

River City Bank completed a $121.5 million secondary initial public offering on the Nasdaq, selling 2.7 million shares at $45.00 each to existing shareholders associated with the founder's family, Investing.com reported in August 2026. Renaissance Capital reported the same month that the California-based commercial bank priced its IPO at $45 per share, raising $122 million through 2.7 million shares, below its initially indicated range of $48 to $51.

Wall Street Zen upgraded River City Bank to a hold rating in a research note, Ticker Report said in September 2026.

River City Bank's Next Steps

River City Bank said it will host a live webcast on October 26, 2026, at 11:00 AM PT/2:00 PM ET to review the results, FinancialContent Business Page reported.