Page 15 – River City Bank

January 8, 2020

River City Bank Showcases San Francisco Office

People mingling at the River City Bank San Francisco office showcase

River City Bank shared its new San Francisco office with business colleagues as they hosted an open house event. Catered by our friends at Graze + Gather Co., guests enjoyed a grazing table filled with local artisanal fare and took in beautiful views of the city and the Transbay Terminal. RCB’s second office in the Bay Area, the San Francisco office, provides commercial banking services and houses the Bank’s growing Clean Energy Division. The Clean Energy Division focuses on servicing Community Choice Aggregation (CCA) clients, project finance, expanding relationships with other players in the clean energy space, and supporting California’s climate action goals.

River City Bank’s Stephen Fleming talking with Maira Strauss of Marin Clean Energy

River City Bank’s Stephen Fleming with Maira Strauss of Marin Clean Energy

View looking over the Transbay Terminal park

Views of the Transbay Terminal

Dominick Carlson, Dan Franklin, and Xu Chen of River City Bank

Rosa Cucicea, River City Bank’s Clean Energy Division Manager

December 17, 2019

River City Bank announces employee bonuses of $2,500 to cap off record-setting year of profits

SACRAMENTO, CA — River City Bank, Sacramento’s premier business bank, celebrated a successful 2019 fiscal year by launching a special “Days of Giving” event for employees. During the 16-day event, which ran from November 25, 2019, to December 10, 2019, River City Bank employees participated in daily raffles with prize options that were selected to appeal to a diverse range of interests for techies, foodies, outdoor enthusiasts, sports fanatics and shoppers. On the final day of the event, the Bank awarded a $2,500 cash bonus to every employee, up to and including the Vice President level. All employees received a River City Bank branded gift bag on the final day of the event, filled with a variety of gifts including an Arc’teryx jacket, a YETI^® mug and other premium items.

“We continue to establish new high-water marks in asset size and net income each year as a direct result of our incredible employees and their exceptional customer service, dedication, intelligence and integrity,” said Steve Fleming, President and CEO of River City Bank. “Reaching the $2.4 billion mark in total assets is a significant accomplishment, and we look forward to even more success in the future.”

“River City Bank is an amazing place to work,” said Carrie Coppage-Feld, Premier Relationship Manager. “The employee-centric focus of our leadership team motivates our team to continued growth and expansion each year while setting the bar high for other organizations to follow.”

The community-based bank recently reported a record-setting $2.4 billion in total assets and year-to-date net income of $19.5 million as of September 30, 2019. Headquartered in Sacramento, the Bank maintains 11 branch locations throughout the region, as well as corporate offices in San Francisco and Walnut Creek.

October 23, 2019

Protecting Yourself from Phishing

Person in front of a laptop holding a mobile phone

As the gift-giving season approaches and shoppers start to plan out their online shopping strategies, cybercriminals begin ramping up their activity. Some of us have learned, the hard way, that the holidays have a way of bringing out individuals who happily profit by preying on others. Thieves are generally after two things: money and things they can turn into money, including gaining access to your private information.

Phishing is a scam that uses email to deceive you into disclosing personal information. Cybercriminals send thousands of emails, hoping to trick individuals into falling for their scams. For example, an email may appear to come from River City Bank, but it does not. It may sound urgent and warn you to update or verify your bank information by clicking on the link contained in the email. These emails are fake and do not come from River City Bank. No bank, including River City Bank, will ever ask you to provide confidential banking information through an email or link.

Phishing Examples and What You Should Do:

The criminal sends an email purportedly from a member of your business or one of your suppliers and requests you to wire funds. Before you react, pick up the phone and obtain verbal verification from your contact using the phone number you have on file, not one that may have been provided by the criminal.

If you get an email that warns you that an account of yours will be shut down unless you reconfirm personal information, or that the bank is “missing” information about your account, do not reply or click on the link in the email. To confirm if a River City Bank email solicitation is legitimate, please call our Customer Service Center at (916) 567-2899.

For additional security tips, how to limit unwanted calls and emails, and recent scam alerts, visit the Federal Trade Commission’s website dedicated to consumer protection at www.consumer.ftc.gov.

Again, keep in mind that River City Bank will never ask for your personal information by email or text. Your personal and financial security is our top priority. Should you have any questions or concerns regarding your account information or communication you have received from River City Bank, please do not hesitate to reach out to a customer service representative at (916) 567-2899 or (800) 564-7144.

October 23, 2019

2019 Capital Cup: A record-breaking year

At this year’s 5th Annual Sacramento Capital Cup, 32 golfers helped to raise a whopping $1.97 million, making it the region’s most impactful fundraiser, second only to the Big Day of Giving. Founded by DCA Partners’ Curt Rocca, the Capital Cup adapts the historic Ryder Cup format to promote community pride, healthy competition, and raise money for the Sacramento region’s many deserving charities. Divided into two teams, Sacramento business leaders played in an exciting 3-day golf tournament to raise money for their favorite charitable organization. The 2019 tournament took place at three of the area’s most prestigious golf courses: El Macero Country Club, Serrano Country Club, and Granite Bay Golf Club.

“What makes the Capital Cup unique is that participants select their own charity,” said Rocca. “They fundraise for a cause close to their heart and hit the phones, asking their peers and friends for donations.”

For the fifth year in a row, River City Bank’s President & CEO, Steve Fleming played on behalf of Easter Seals of Superior California. Through generous donations, Steve raised over $38,277 for Easter Seals.

In just five years, the Capital Cup has raised over $5.6 million, benefitting 50 individual charities in the Sacramento region. In all, there have been 65 Capital Cup golfer philanthropists, from various industries and backgrounds, seven of which have participated all five years, including River City Bank’s President & CEO, Steve Fleming.

Steve Fleming presents a check to Gary Kasai of Easter Seals

October 23, 2019

Client Profile : Northgate Ready Mix

CEO Troy Soiland runs Northgate Ready Mix, a family-owned and operated business. After buying the name of the company and the client list from the previous owner in 2010, Troy also purchased three trucks and sought to modernize and rebrand the business. Almost immediately, he began searching for a larger location and shrewdly began investing money during a time when economic growth was at a standstill. What started as a three-truck, five employee operation has grown to 30 trucks and 39 employees.

Located in Windsor, CA, Northgate supplies quality concrete throughout the North Bay. Created with premium, locally-sourced aggregates and sand, Northgate’s product is created with its state-of-the-art computerized plant. The process ensures batch consistency and also facilitates the use of the latest admixtures.

We caught up with Troy and were able to speak with him about Northgate Ready Mix and his family’s ties to the community. He talked to us about the rapid growth of his company and how much has changed since he bought the use of the company name and customer list nine years ago.

The Soiland family has solid ties in the North Bay. Can you tell us a little bit about the family’s business history and how it has helped shape the surrounding communities?

The Soiland family has deep, deep ties to the North Bay building community, and it spans three generations. My father was a pipeline contractor, sand and gravel operator, quarry operator, and a land developer in the Marin and Sonoma County region. He was also politically active locally.

Besides Northgate Ready Mix, our extended family is involved in four different quarry operations, an asphalt supply company, a general engineering company, two different composting and topsoil companies, two portable concrete and asphalt recycling companies, two different heavy equipment repair and maintenance companies, a major commercial building contractor, and an industrial property management company. I have siblings who serve on local bank boards and planning boards of local government.

Each of these related businesses is owned and operated by the individual family members who work in them. We are not one big company. Growing up, we were given tools and provided opportunities, but all businesses sprung from personal inspiration and motivation. Very little was inherited.

Northgate Ready Mix is family-owned. How many people from your family are involved in the business? What are their roles?

Mix is a concrete supply business founded back in 2010 by myself, and my brother Dean. My wife Dawn and I are active in the daily operation and administration of the company as President and CFO, along with our oldest daughter. Both Dean and his wife Belinda are critical to the operation as the aggregate supplier, financial support, and as board members.

A fleet of Northgate trucks lined up in parking lot

What were your most important projects?

Northgate Ready Mix is fortunate to have been involved in numerous bridge projects, wineries, breweries, subdivisions, and countless wildfire rebuild of single-family dwellings. But I think the most memorable projects are the ones that “took you to school.” You know, the ones that gave you sleepless nights wondering if you would be able to pull it off. As with any business, when you try something new, mistakes are bound to happen. But once we completed those projects and learned what we can and cannot do, the projects following run more smoothly, and you can take on more of the same types of projects.

What do you think are the key ingredients that have made Northgate Ready Mix so successful?

I believe that a big part of what makes Northgate Ready Mix successful is our community connection. As a proud member of this family, our name and reputation are very important. We service customers frequently that we’ve known for decades through school, church, or related business. In part, due to our community connection, I feel a sense of duty to uphold the highest standards in the industry.

Another important aspect of our success has been innovation. We have always sought to reuse and up-cycle at every opportunity. We have developed markets that allow us to reuse all our returned and leftover concrete by crushing it back to pieces less than 1 inch in size and shipping it to job sites in one form or another. We capture all our rinse water on-site and reuse it. We also have the capability to capture and store our rainwater for use in concrete production. We are always trying to innovate and make the most of the resources at our disposal.

What brings me the greatest satisfaction as a company owner is when a customer comments regarding the professionalism of a driver or the office staff, the first-class equipment we send out each day, the respect we have for providing excellent service, or the quality of the finished product. These represent our values. The central theme is to take pride in what you do and strive for excellence.

Northgate Ready Mix strives to provide the absolute highest level of customer service. The company makes it a point to cater to customers of all sizes and seeks to provide the highest level of customer service, taking pride in every job.

To learn more about Northgate Ready Mix, visit their website at northgatereadymix.com.

October 23, 2019

Gary Orr Joins the RCB Board of Directors

Gary Orr is the newest member of River City Bank’s Board of Directors. A third-generation banker with nearly four decades of experience, Gary recently retired from Wells Fargo Bank, where he held a variety of leadership roles over the course of his 32-year tenure. Gary brings extensive experience in Investor Commercial Real Estate lending, having most recently led efforts to build relationships with CRE investors across the United States. Prior to that assignment, Orr led Wells Fargo’s middle-market commercial banking teams for the Central Valley, including the Sacramento, Modesto, Stockton and North Valley Markets. As a member of the board, Gary will provide governance and aid in River City Bank’s continued expansion efforts throughout California.

In addition to commercial real estate, he also has significant expertise in lending to companies in many industry verticals including agriculture, distribution, manufacturing, retailing, transportation, ski resort areas, and wholesaling.

Gary joins RCB at a time when Sacramento’s home market continues to thrive, and its footprint in the Bay Area and Southern California continues to expand. Gary’s extensive experience in many facets of commercial banking makes him a valuable addition to the board. We look forward to pairing his high-level insights with our nimble and client-centered approach to commercial banking.

Gary is a native of Pittsburgh, Pennsylvania and earned his bachelor’s degree in business administration and economics from the University of Pittsburgh. He currently sits on several company boards and serves on the boards of three local non-profit organizations including the Society for the Blind, Easter Seals Superior California, and the Capital Region Family Business Center. He is also a Senior Fellow with the Mountain Valley Chapter of American Leadership Forum.

Welcome aboard, Gary!

October 23, 2019

River City Bank Fêtes Clients and Supports Local Charity

River City Bank’s biennial client appreciation event took place in the lush green space located right behind their corporate offices. The event celebrates bank clients and recognizes a selected non-profit organization. Steve Fleming, RCB President & CEO, kicked off the evening by thanking all in attendance and recognizing this year’s charity of choice, the Sacramento Tree Foundation, by presenting them a check for $11,894.

During the summer months, RCB employees raised funds by initiating a series of fundraising activities. Events included a bake sale, farmer’s market, and an event deemed the “Great Banker Bake-Off,” as well as internal competitions between teams in the bank’s various offices and branch locations. River City Bank took the amount raised and matched it.

The donation will be used to bolster the expansion of the foundation’s NeighborWoods Program, which seeks to plant approximately one million trees in under-resourced and under-canopied neighborhoods throughout the six-county Sacramento region. Funds may also be directed toward the organization’s innovative certification program, which aims to ensure that tree canopy considerations be incorporated into all new building developments.

RCB clients and employees enjoyed a delicious dinner provided by the Fat Family Restaurant Group, including their famous banana cream pie, and pear cider by The Elliot Family’s Delta Island Cider Company. Relles Florist provided beautiful floral arrangements to set the tone of the event. Attendees ended the evening with parting gifts from Elevation Ten Winery and Ginger Elizabeth Chocolates.

Kelly Siefkin of CSU Sacramento with River City Bank’s Tracy Mullen, and Lindsay Bowman of CMY Fiduciary Services

Max Kelly of Avison Young with River City Bank’s Riley Gardner, and Stacy Paragary of Paragary’s Restaurant Group

Flowers by Relles Florists and client gifts from Ginger Elizabeth and Elevation Ten

Jennifer and Wayne Dawson of Triangle Well Drilling with Donna Sutherland of River City Bank, and Kenn Altine of the SPCA

River City Bank presents check to the Sacramento Tree Foundation’s Dr. Janine Bera and Ray Trethaway

Christine and Matt Michael of Michael & Sons Real Estate, Inc.

Matt Bachman and Loni Gray of MBK Engineers

Reeve-Knight Construction’s Kerry Bal and Todd Swanson, and Heather Swanson of Ameriprise Financial, enjoy the feast prepared by Fat Family Restaurants

Yolo County Supervisor Don Saylor with GSAC’s Brittany Jones and Leidhra Guild

Gordon Spector of Schetter Electric with Charice Huntley of River City Bank

Dr. Ken Fat with Dr. Janine Bera

River City Bank President & CEO Steve Fleming and wife Patti

October 18, 2019

River City Bank reports a quarterly cash dividend of $0.28 per common share

SACRAMENTO, CA — Steve Fleming, President and CEO of River City Bank (the Bank), announced that the Bank’s board of directors has approved, in connection with the Bank’s recently reported net income of $7.0 million, or $4.82 diluted earnings per share, for the quarter ending September 30, 2019, a cash dividend of $0.28 per common share to shareholders of record as of October 29, 2019, and payable on November 19, 2019.

October 17, 2019

River City Bank reports net income of $7.0 million for the third quarter of 2019 and $19.5 million year-to-date

SACRAMENTO, CA — River City Bank (the Bank) reported record net income of $7.0 million, or $4.82 per diluted share, for the quarter ending September 30, 2019. This compares favorably to the $5.9 million, or $4.06 per diluted share, for the same period in 2018. Net income was $19.5 million, or $13.33 per diluted share, for the nine months ending September 30, 2019, which compares to the $17.2 million, or $11.82 per diluted share, for the nine months ending September 30, 2018. The improved net income versus the prior year quarter was driven by:

Higher loan balances – Average loan outstandings were $217 million higher than the prior year quarter, thereby increasing net interest income.
Non-core income of $376,000 and $72,000 for the quarters ending September 20, 2019 and 2018, respectively — The Bank recorded an elevated level of prepayment penalty and deferred loan fee income on loans that paid off prior to their maturity and received interest recoveries from loans that were previously charged off.
A $250,000 increased level of provisions for loan losses due to the Bank’s exceptional loan growth; this partially offset the above benefits to net income versus the prior quarter.

“We experienced solid loan growth of $217 million, or 13.5 percent, in the nine months of 2019 due to our excellent reputation in the commercial real estate loan market and the decline in long term interest rates,” said Steve Fleming, President and CEO of River City Bank. “This growth continues to propel our net interest income higher. Though our solid loan growth during the current quarter resulted in a higher provision for loan losses, our asset quality remains exceptional. The ratio of nonperforming loans and Other Real Estate Owned to total gross loans was zero as of September 30, 2019, and we have reported net recoveries for over four years. While the credit risk environment is benign today, we know from prior experience that it will change for the worse at some point, and we think it is prudent to maintain adequate loan loss reserves in anticipation of the eventual downturn.”

The loan growth has also been sufficient to mitigate the negative impact of the rise in short term interest rates and the flattening of the interest rate yield curve over the last year. After excluding the prepayment penalty and deferred loan fee income noted above, the Bank’s net interest margin declined from 2.68 percent to 2.61 percent for the three months ending September 30, 2018 and 2019, respectively.

“Operational efficiency remains a core competency for the Bank, as evidenced by our 40 percent and 42 percent efficiency ratios for the nine months ending September 30, 2019 and 2018, respectively,” said Anker Christensen, Chief Financial Officer of River City Bank. “Over the prior year period, our focus on managing expenses continues to be evident by our low efficiency ratio. This demonstrates our ability to grow profitably despite some net interest margin compression.”

Shareholders’ equity for River City Bank on September 30, 2019, increased $22.4 million to $231 million, when compared to the $209 million as of December 31, 2018. The increase was driven by increased retained earnings and accumulated other comprehensive income due to the decline in interest rates since December 31, 2018. The Bank’s capital ratios remain well above the regulatory definitions for being Well Capitalized. Common Equity Tier 1, Tier 1 Leverage and Total Risk-based capital ratios were 11.2 percent, 9.3 percent and 12.5 percent, respectively, as of September 30, 2019.

October 2, 2019

River City Bank and its employees donate more than $11,800 to Sacramento Tree Foundation

Funds will aid in expanding urban canopy to under-resourced local neighborhoods

SACRAMENTO, CA – River City Bank, Sacramento’s premier business bank, showed its support for public health and community improvements by presenting a donation check in the amount of $11,894 to the Sacramento Tree Foundation. The donation will be used to bolster the expansion of the foundation’s NeighborWoods Program, which seeks to plant approximately one million trees in under-resourced and under-canopied neighborhoods throughout the six-county Sacramento region. Funds may also be directed toward the organization’s innovative certification program, which aims to ensure that tree canopy considerations are incorporated into all new building developments.

“As one of Sacramento’s longstanding community-based businesses, River City Bank is dedicated to seeing our region grow and prosper, and that includes supporting organizations that provide solutions for enhancing quality of life and providing personal health benefits within our neighborhoods,” said Steve Fleming, President and CEO of River City Bank. “Sacramento Tree Foundation is responsible for significant improvements in our local communities, particularly through the planting of more than one million trees in and around Sacramento, and we are pleased to contribute to its future success.”

“The presence of a healthy and vibrant urban canopy provides tangible benefits to the community, including longer life spans and stronger school and professional performance,” said Ray Tretheway, Executive Director of Sacramento Tree Foundation. “With support from visionary partners such as River City Bank, we’re able to extend those benefits to six of our region’s most underserved neighborhoods.”

River City Bank presented the donation check to Mr. Tretheway and Dr. Janine Bera, Board President of Sacramento Tree Foundation, during its biennial client appreciation reception, which was held on September 19, 2019. The donation consisted of contributions from River City Bank as a corporate entity, as well as a significant sum provided by the internal fundraising efforts of its employees.

As part of an annual tradition, River City Bank employees initiated a series of fundraising activities to encourage staff to provide donations to Sacramento Tree Foundation as its charity of choice in 2019. Activities included a bake sale, farmer’s market and an event deemed the “Great Banker Bake-Off,” as well as internal competitions between teams in the bank’s various offices and branch locations.

For more information about Sacramento Tree Foundation, visit SacTree.com.