The River City Bank (the Bank) board of directors has approved, in connection with the Bank’s recently reported net income of $2.5 million for the first quarter ending March 31, 2013, a cash dividend of $0.125 per common share and $0.79 per preferred share to shareholders of record as of May 6, 2013, and payable on May 21, 2013.
Additionally, the Bank reported net income of $2.5 million, $1.76 per diluted share, for the three months ending March 31, 2013, which compares favorably to the net income reported in the first quarter of 2012. For the quarter ending March 31, 2013, net interest income declined $482,000 compared to the same period in 2012 and the net interest margin declined from 3.75 percent for the first quarter ending March 31, 2012 to 3.34 percent for the same period in 2013.
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