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

> River City Bank reported $30.6 million in third-quarter 2026 net income, lifted by a $17.1 million swap valuation gain.

- Published: 2026-10-23T20:31:05+00:00
- Section: Earnings & Results
- Author: News Desk
- URL: https://newsforagent.com/news/2026-10-23/river-city-bank-q3-2026-net-income
- Source: [Business Wire](https://www.businesswire.com/news/home/20261023651618/en/)

## Key takeaways

- 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.
- A $17.1 million mark-to-market gain on interest rate swaps drove the increase, while adjusted earnings per share fell to $1.29 from $1.43 a year earlier.
- The bank's efficiency ratio improved to 19.4% from 29.4% in both the trailing quarter and the third quarter of 2025.

[River City Bank](https://akta.pro/company-profiles/0004nn8/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](https://www.businesswire.com/news/home/20261023651618/en/) 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](https://akta.pro/company-data), 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.

## Companies in this story

- [River City Bank company profile](https://akta.pro/company-profiles/0004nn8/river-city-bank) · website: https://www.rivercitybank.com

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