SACRAMENTO, Calif., January 27, 2023 (Newswire.com) - Steve Fleming, president and chief executive officer of River City Bank (the Bank), announced that the Bank's board of directors has approved a 6 percent increase to the quarterly cash dividend from $0.33 per common share to $0.35 per common share. This increase was made in connection with the Bank's recently reported net income of $11.5 million and $47.8 million, or $7.72 and $32.22 diluted earnings per share, for the quarter and year ending Dec. 31, 2022, respectively. These dividends will be made to shareholders of record as of Feb. 7, 2023, and payable on Feb. 21, 2023.
ABOUT RIVER CITY BANK:
Named one of Sacramento Business Journal's "50 Fastest Growing Companies" for each of the past six years, River City Bank is the Sacramento region's premier business bank with assets of over $4.0 billion. River City Bank offers a comprehensive suite of banking services, including loans, deposits and cash management tools to the business, consumer and commercial real estate sectors. 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 touch point that surrounds it. River City Bank is the largest, independent, locally-owned and managed bank in the Sacramento region with offices in the San Francisco Bay Area and a presence in Southern California. For additional information, please visit www.rivercitybank.com or call (916) 567-2600. Member FDIC. Equal Housing Lender.
Source: River City Bank