River City posts $30.6 million in third-quarter 2026 net income
Key Facts
River City Bank reported net income of $30.6 million, or $2.16 per share, in the third quarter of 2026. The bank said in an investor relations statement that net income was $19.7 million, or $1.36 per share, in the same period of 2025. The comparison shows year-over-year increases in net income and earnings per share. The statement did not include analyst estimates that would allow the results to be compared with market expectations. No verified data was available on the stock's movement following the announcement.
For the first nine months of the year, net income was $68.2 million, or $4.75 per share, the bank said. That compared with $47.4 million and $3.24 per share for the nine months ended September 30, 2025. In the second quarter of 2026, the bank reported net income of $19.6 million and earnings per share of $1.37. The year-earlier comparison for that quarter was $15.4 million and $1.05 per share. These figures place third-quarter results within a trajectory of annual net income growth, while second-quarter data allow a direct comparison between consecutive periods.
The bank said its measure of core pre-provision, pre-tax income was $29.3 million in the third quarter, up 3% from $28.4 million a year earlier. The measure also rose from $25.4 million in the second quarter, according to the statement. The comparison shows that year-over-year growth in the core measure was slower than the increase in reported net income. The bank's statement links its earnings review to these operating measures, along with data on loan and deposit growth and net interest margin. The statement did not cite external earnings estimates or describe the stock's market performance.
Average loans increased by $108 million, or 2%, from the previous quarter, and by $363 million, or 8%, from the same period a year earlier. The bank attributed the increase to continued organic loan growth. Average deposits rose by $158 million, or 3%, from the previous quarter, and by $766 million, or 16%, year over year. The bank said deposits supported loan growth and liquidity. On an end-of-period basis, assets totaled $6,381,595 thousand on September 30, 2026, up 16.6% year over year, while deposits totaled $5,613,774 thousand, up 15.5%.
Net interest margin was 2.39% in the third quarter, compared with 2.34% in the second quarter, the bank said. It attributed the slight improvement to higher yields on interest-earning assets and a 0.03 percentage-point decline in the cost of funds. These figures provide further insight into lending and funding performance alongside growth in average loans and deposits. The bank completed its initial public offering in August 2026, and its shares began trading on Nasdaq under the symbol RCBC. It said the secondary offering consisted solely of existing shares, with no new shares issued by the bank.
The board approved a cash dividend of $0.05 per share for shareholders of record on November 3, 2026, payable on November 17. The bank had announced that management would host a live webcast to review the results with analysts and investors on October 26, 2026, at 11 a.m. Pacific time, or 2 p.m. Eastern time. The webcast was scheduled after the quarterly results announcement, according to the bank's published calendar. The event gives analysts and investors an opportunity to hear management review the figures. The available statement did not include the webcast's outcome or any subsequent market reaction.