Sacramento’s River City Bank earnings dip slightly year-over-year

Published: Thursday, Jan. 30, 2014 - 11:13 am

Sacramento-based River City Bank reported net income of $11.5 million for all of 2013, a slight decrease from a profit of $11.7 million in 2012.

In the fourth quarter of 2013, the bank amassed profits of $3.1 million, or $2.19 per share, down from $3.4 million, or $2.35 a share, in the prior year.

The bank said total gross loans increased by about $80 million year-over-year, to $710 million as of Dec. 31.

River City officials also said the bank’s bottom line was impacted by some non-recurring items, including about $730,000 in operating expenses related to the closure of the bank’s North Natomas branch in last year’s second quarter.

RCB bills itself as the largest, independent, locally-owned bank in the Sacramento region, overseeing 12 branches in Sacramento, Placer, El Dorado and Yolo counties.

Call The Bee’s Mark Glover, (916) 321-1184.

Read more articles by Mark Glover

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