Business & Real Estate

Two Sacramento-area banking firms report solid first-quarter results

Two local banking companies reported strong financial results for this year’s first quarter.

Sacramento-based River City Bank posted net income of $2.8 million, or $1.92 per share, in the quarter ended March 31, up nearly 17 percent from $2.4 million, or $1.66 a share, in the year-ago period.

RCB President and CEO Steve Fleming noted that total gross loans increased by $212 million, or 27 percent, from the first quarter of 2015.

Rancho Cordova-based American River Bankshares, parent of American River Bank, reported quarterly net income of $1.4 million, or 19 cents a share, up 40 percent from about $1 million, or 12 cents per share, in the initial quarter of 2015.

Mark Glover: 916-321-1184, @markhglover