Two locally based banks serving the greater Sacramento area on Thursday reported profitable third-quarter results.
Sacramento-based River City Bank posted net income of $2.3 million, or $1.62 per share, in the quarter ended Sept 30. That was down from $2.9 million, or $2.05 per share, in the same quarter of 2014. The bank noted that while loan volume was up, its bottom-line earnings were impacted in part by declines in long-term interest rates.
Through nine months this year, profits totaled $8.6 million, or $5.99 a share, compared with net income of $8.2 million, or $5.77 a share, in the year-ago period.
Rancho Cordova-based American River Bankshares, parent of American River Bank, amassed net income of $1.5 million, or 20 cents a share, in the quarter, up 36.3 percent from $1.1 million, or 14 cents per share, in the third quarter of 2014.
Through nine months of 2015, ARB profits totaled $3.8 million, or 50 cents a share, a nearly 19 percent gain from net income of $3.2 million, or 39 cents a share, in the same period last year.