Named one of Sacramento Business Magazine’s “50 Fastest-Growing Companies” for each of the past five years, River City Bank is the premier commercial bank in the Sacramento area with nearly $3.8 billion in assets. River City Bank provides a full suite of banking services to the commercial, consumer and commercial real estate industries, including loans, deposits and cash management tools.
An Overiew of River Cities Bank
With nearly $3.8 billion in assets, River City Bank is the largest independent, locally owned and managed bank in the Sacramento area. 9 branches, offices in the San Francisco Bay Area and an office in Southern California.
With tailored executive-level service and a long-term investment-grade credit rating from Standard & Poor’s, River City Bank redefines the banking experience and every touchpoint around it.
What Does River Cities Mean?
A river city is a generic name used to describe any city that lies on a river.
History of River City Bank
It began in 1972 when legendary radio and television entrepreneur Jon S. Kelly realized the need for a strong local bank to serve the Sacramento area. So he created one.
River City Bank opened in 1973. Kelly’s entrepreneurial vision and keen insight into unmet banking customer needs have led to numerous innovations, including the introduction of Saturday Banking and 8 drive-thru branches for faster service. Almost every innovation has achieved brilliant success and growth.
River City Bank Profitability
River City Banking Corporation currently employs approximately 700 people, and according to the report, River City Bank’s net income for the second quarter of 2022 was $8.9 million and year-to-date to $25.3 million.
According to Steve Fleming, president and chief executive officer of River City Bank, “after a difficult start in the first quarter, we were happy with the $239 million in loan growth in the first half (excluding a $30 million decline in PPP loans)”. Although there aren’t many delinquencies or non-performing loans and our asset quality is still solid, we are nevertheless concerned about the impact on the commercial real estate office sector as more companies are providing work-from-home alternatives and as demand has decreased.
According to Chief Operating Officer Anker Christensen, “operational efficiency is the Bank’s fundamental strength, as indicated by our 27% efficiency, excluding $7 million mark-to-market gains on interest rate swaps, for the six-month period ended June 30, 2022.”
“Our focus on administrative expenses continues to be reflected in our continued inefficiency ratios, with our total non-interest expense remaining relatively unchanged from the prior period.”
Conclusion
Born in Morton, Texas and raised in the South Plains, City Bank has been serving communities in eastern Texas and New Mexico. If you want to know more about it, please visit the homepage of river city bank.
