Entries for ' Community bank'

Insights From River City Bank’s Leadership Conference 2013

At River City Bank, we know that the road to a stronger economy is a difficult one. That is why River City Bank stays on the cutting edge of all financial market segments to provide sound advice and leadership to our clients, our partners and to the greater Sacramento business community. The River City Bank Business Leadership Conference is an event that offers insight and outlook on the world of finance. This year’s presenters shared their professional insight with our executive team on a range of topics including banking, finance, real estate and technology. Over the course of the next few weeks we will be sharing this information with you, our business audience. read more

The 2013 Regional Business Outlook featured business success stories and key business insight presentations for the upcoming year on a variety of topics including banking, technology, healthcare, housing, jobs and investing. The luncheon event included presentations by: Kelly Brothers, Partner, Genovese Burford & Brothers; Steve Fleming, President and CEO, River City Bank; Tom Schauer, CEO, TrustCC; Barry Azarcon, Principal, Edgewood Partners Insurance Center; Andrew Silverman, Regional Director, Northern California, Waypoint Homes; and Michael E. Rossi, Senior Advisor for Jobs and Business for Governor Brown.

The presentations by these industry experts yielded a vast amount of valuable information for business owners and professionals including an overview of many Federal and State Income Taxes, ways to protect your business from cybercrime, the current state of the healthcare industry and how the Affordable Care Act will affect businesses in 2013. Here are some of the key highlights from the event. read more

As we head into tax season, many people are in for a rude awakening as they compare their 2013 tax burden to last year. Plenty of new tax laws have appeared on the books over the past 12 months and the cumulative effect will wreak havoc on people’s budgets and psyche. The federal income tax and capital gains rate went up to 39.6 percent and 20 percent for top earners, respectively. The state income tax has also risen to 13.3 percent for top earners, and the payroll tax holiday has ended returning to the tax to the full 6.2 percent. On top of all these increases, the Affordable Care Act tacks on another 3.8 percent for top earners. You add it all up and the combined effect is one huge tax increase. So, how did we get here? read more

The River City Bank, (the Bank), board of directors has approved, in connection with the Bank’s recently reported net income of $3.3 million and $11.6 million for the quarter and year ending December 31, 2012, respectively, a cash dividend of $0.125 per common share and $0.79 per preferred share to shareholders of record as of January 31, 2013, and payable on February 19, 2013. The cash dividend on the common stock represents a 25 percent increase from the prior level of $0.10 per share.

Additionally, the Bank reported net income of $3.3 million, $2.35 per diluted share, and $11.6 million, $8.09 per diluted share, for the three months and year ending December 31, 2012, respectively, which compares favorably to the $2.6 million and $10.6 million net income reported for the same periods in 2011. Excluding the previously reported $1.75 million one-time gain on the sale of the merchant processing portfolio during the first quarter of 2011, the Bank’s net income would have been approximately $9.5 million or $6.59 per diluted share for the year ending December 31, 2011.

Please click here to read the full Quarterly Cash Dividend press release.
Please click here to read the full 2012 Earnings press release. read more

River City Bank is proud of the men and women of the California Highway Patrol (CHP) who risk their lives every day to make our motorways safe. Their service makes it possible for us to travel safely and they provide assistance if we have an unanticipated delay.  Just as the CHP watches out for motorists, The California Association of Highway Patrolmen (CAHP) watches out for CHP officers and their families.

The CAHP is a non-profit organization which supports those who serve in the CHP in a variety of ways.  Led by the current CEO, Jon Hamm, the CAHP negotiates with the state of California’s Department of Human Resources for working conditions for CHP officers. In addition, the CAHP helps its members with labor relations, health benefits, legal representation for job-related issues, and an array of other membership services. read more