Page 17 – River City Bank

March 26, 2019

RCB Opens Second Bay Area Office

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River City Bank has expanded its presence in the Bay Area with the establishment of a new office in the Financial District of San Francisco. This new location provides commercial banking and project finance services and houses the Bank’s Clean Energy Division. The group, headed by Rosa Hilmarsdotter Cucicea, Vice President & Clean Energy Division Manager, is focused on servicing Community Choice Aggregation (CCA) clients, expanding relationships with other players in the clean energy space, and supporting California’s climate action goals. This addition marks the second Bay Area location for River City Bank, which opened a commercial banking office in Walnut Creek in 2015.

“After hitting a record number in assets and creating our new Clean Energy Division, we’re excited to open a second commercial banking office in the Bay Area,” said Steve Fleming, President and CEO of River City Bank. “The new office is a key component of our strategy to expand our focus and presence throughout California.”

The Bank has taken a bold lead in the clean energy space, supporting CCA clients throughout California with their depository, cash management, and lending needs. Notable clients include Valley Clean Energy in Yolo County, Clean Power Alliance of Southern California, Marin Clean Energy, Silicon Valley Clean Energy, Monterey Bay Community Power and East Bay Community Energy. River City Bank provides CCA clients with custom-tailored solutions spanning start-up capital, lines of credit, renewable energy project financing and custodian “lockbox” accounts.

February 19, 2019

River City Bank opens second office in San Francisco Bay Area

Premier California business bank expands footprint, deepens ties in Bay Area

SACRAMENTO, CA — River City Bank is expanding its presence in the Bay Area with the establishment of a new office in the Financial District of San Francisco. This new location provides commercial banking and project finance services, and houses the Bank’s Clean Energy Division focused on servicing Community Choice Aggregation (CCA) clients, expanding relationships with other players in the clean energy space, and supporting California’s climate action goals. This addition marks the second Bay Area location for River City Bank, which opened a commercial banking office in Walnut Creek in 2015.

The expansion is a natural progression of the bank’s shift from being primarily a Sacramento-centric consumer-oriented bank to focusing on commercial banking throughout California, and it comes after a series of significant milestones. In 2018, River City Bank grew to more than $2.2 billion in assets and launched the new Clean Energy Division under the leadership of Rosa Hilmarsdottir Cucicea, Vice President & Clean Energy Division Manager.

The new office is located at 201 Mission Street, Suite 1300, in San Francisco, and can be reached at (415) 293-4200. For more information on River City Bank, visit www.rivercitybank.com.

January 29, 2019

River City Bank reports an increase to the quarterly cash dividend on common shares

SACRAMENTO, CA — Steve Fleming, President and CEO of River City Bank (the Bank), announced that the Bank’s board of directors has approved an increase to the quarterly cash dividends, from $0.26 per common share to $0.28 per common share. The increase was made in connection with the Bank’s recently reported net income of $6.8 million and $24.0 million, or $4.67 and $16.50 diluted earnings per share, for the quarter and year ending December 31, 2018, respectively. These quarterly cash dividends will be made to shareholders of record as of February 6, 2019, and payable on February 20, 2019.

January 28, 2019

River City Bank reports record net income of $24 million for 2018

SACRAMENTO, CA — River City Bank (the Bank) reported record net income of $24.0 million, or $16.50 per diluted share, for the year ending December 31, 2018. This was $7.3 million more than the $16.7 million, or $11.52 per diluted share, for the year ending December 31, 2017. The Bank’s earnings for 2018 were higher due to organic growth, as well as lower taxes from the Tax Cut and Jobs Act that was passed at the end of 2017. Earnings in 2017 were impacted by a one-time, non-cash charge of $4.6 million, or $3.18 per diluted share, in the fourth quarter of 2017. The charge was related to the re-measurement of the Bank’s deferred tax assets arising from a lower corporate tax rate. In addition, the 2017 results benefited from a pre-tax $3.5 million gain on sale of an Other Real Estate Owned property and a $765,000 mark to market gain on interest rate swap contracts.

“We are very proud to have finished 2018 with record earnings, significant growth in our customer base, and the successful opening of our loan production office in downtown San Francisco,” said Steve Fleming, President and CEO of River City Bank. “The new office and the recent launch of our Clean Energy Division will provide us with new and additional opportunities to serve the thriving Bay Area marketplace.”

The Bank experienced solid growth in its balance sheet in 2018, as evidenced by 9.6 percent loan growth and 12.4 percent deposit growth.

The Bank’s net interest margin declined from 2.83 percent to 2.73 percent for the years ending December 31, 2017 and 2018, respectively. The reduced net interest margin is a function of the Federal Reserve having increased short-term interest rates and the flattening of the yield curve. Consequently, the Bank’s net interest margin compresses as the cost of deposits and other borrowings rise faster than the yield on its earning assets.

“Operational efficiency remains a core competency for the Bank, as evidenced by our 40 percent efficiency ratio for the years ending December 31, 2018 and 2017, respectively,” said Anker Christensen, Chief Financial Officer of River City Bank. “We have a highly productive group of employees at the Bank, and managing expenses continues to be a priority for the management team.”

Shareholders’ equity for River City Bank on December 31, 2018 increased $24 million to $209 million, when compared to the $185 million as of December 31, 2017. The growth was driven by increased retained earnings. 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 11.8 percent, 9.6 percent and 13.1 percent, respectively, as of December 31, 2018.

December 20, 2018

Employee Profile: Donna Sutherland

Donna Sutherland is the newest Premier Relationship Manager, Vice President at River City Bank. She is no stranger to River City Bank; in fact, she began her career here at our Woodland Branch as its Assistant Manager nearly a decade ago. Recently, we met with the RCB boomerang to talk about the causes that she is passionate about, and her love for all things Disney.

Hometown: Alameda, CA

First Job: I was a cashier at Del Taco.

Favorite Quote(s): Yesterday is past, tomorrow is not promised, today is a gift, which is why it is called the present. ― Bill Keane

Favorite Movie: The Wizard of Oz – there is a little bit of Dorothy in all of us!

Favorite place in Sacramento: The Firehouse Restaurant. It has a romantic atmosphere, delicious food, and a great wine list.

First site or app you check in the morning: LinkedIn for a quick news download.

Favorite city to visit: San Diego, CA. It has perfect weather and beautiful beaches!

What is something people would be surprised to know about you? I am a huge Disney fan. I love to visit the parks with family and friends whenever I can! I always feel like a kid and enjoy the little details that Disney does throughout the park to make it a magical experience.

Donna at Disneyland in 2018

Which causes/nonprofits do you support? There are two organizations that I support and each for a very personal reason: Shriners Hospital and the March of Dimes. I have a particular affinity for Shriners Hospital because they performed spinal surgery on my daughter. Families are never billed for their services, and they never turn away a child because of a family’s inability to pay. As a mother, the March of Dimes also holds a special place in my heart. The organization works towards reducing premature births and helping mothers have healthier pregnancies.

What is your idea of perfect happiness? Being somewhere on a beach, watching the waves.

What did you want to be when you were a child? I wanted to be a singer, specifically, a country singer.

What was the best piece of business advice you were given when you were starting out? Control what you can control and don’t let the rest weigh you down.

What do you consider your greatest achievement? Building strong relationships in all of the positions I have held and mentoring others to achieve their goals.

What do you like best about working at River City Bank? The culture is amazing! I am proud to work for a bank that cares so much about the customers and communities that we serve.

December 20, 2018

A Celebration of 35 Years of Generosity

The Sacramento Region Community Foundation reached a milestone this year, celebrating 35 years of inspiring philanthropy in the Sacramento region. As a sponsor of the Foundation’s annual Celebration of Generosity event, several River City Bank team members, including SRCF board member Anker Christensen, were in attendance to honor the commitment of fundholders, nonprofit leaders, and community partners who strive to transform the capital area to benefit all. For years, the Foundation has led efforts to grow local giving and build nonprofit capacity, close gender and racial gaps in access to higher education, strengthen the food system that feeds our communities, and foster a vibrant creative ecosystem.

At this year’s event, the Foundation also showcased its new logo and tagline. The newly refreshed brand represents the Foundation’s forward movement in the areas where strategic philanthropy can be a catalyst for change. While they have a new look, the Foundation’s commitment to the community remains unwavering. It will continue its role as the Sacramento region’s trusted steward of social consciousness, creating meaningful impact, as it has been since 1983.

To learn more about the Sacramento Region Community Foundation, visit www.sacregcf.org.

Janette Moynier

Anker and Bonnie Christensen

Charice Huntley

December 20, 2018

The Rotary Club of Carmichael

Uganda Rural Community Water Wells Project

In late 2015, the Rotary Club of Carmichael embarked on a project that would affect the lives of thousands of people in Uganda. The group learned about the rural village in Iyolwa, Uganda named Poyemi through a presentation given by Rotary Member, Richard Olebe. Olebe described Poyemi as a place where villagers spent an average of four to five hours per day walking to and from their primary water source. Much of the time, nearby water sources – like a river or swamp– can be contaminated.

Richard Olebe, a long-time resident of Carmichael who was born and raised in Uganda, proposed the project of building five 200-foot wells in an area where people were living with contaminated water. Olebe, who holds an engineering degree from the University of Nairobi and two master’s degrees from Stanford, spoke on the life-changing benefits these wells can create. The group agreed that this was a project worth taking. Once receiving final approval, the newly-appointed Project Chair traveled to Uganda to iron out the logistics and jumpstart the project.

On December 5, 2018, the project was completed with the final installation of fencing and testing of all the solar-powered submersible pumps associated with each well. The project cost over $200,000 and took three years to finish. The funding for the project originated from grants from the Rotary International Foundation and funds raised by the Carmichael Rotary Club in conjunction with other local clubs within their district. The project commissioning took place at Poyemi on December 15th with Project Chair Olebe and immediate past Carmichael Rotary President Richard Bauer attending the ceremony on behalf of the Carmichael Rotary Club.

The wells now serve approximately 10,000 people and have the potential to output over 7,000 gallons of water per hour. The task that once took several hours to complete reduced to just over 30 minutes per day. The time saved could now be spent studying, earning an income, and performing other essential activities.

By changing the availability of water, the Carmichael Rotary Club’s water wells project has and will continue to have a profound impact on the lives of the people in Poyemi.

Three men standing on muddy ground in front of trees

Richard Olebe with the local team

A group of people dressed colorfully standing in front of two buildings with rusted roofs

Schoolchildren gather at the new well site in Poyemi

Two women in front of faucets filling jugs with water

Villagers draw water from the newly-completed wells in Poyemi

One of the completed wells in Poyemi

December 20, 2018

Security News – How to Avoid a Vishing Scam

By now you probably know not to click on links that arrive unexpectedly via email (Phishing) or text (Smishing), but how about an old-fashioned telephone scam? As people have become more educated on cybersecurity, criminals are turning to alternative scamming methods, including the telephone scam.

What is Vishing?

Vishing is the telephone-based scam that has even the most tech-savvy consumers falling victim. Vishing scams rely heavily on manipulation and social engineering to get potential victims to give up personal information such as PINs, Social Security numbers, credit card security codes, and passwords. Criminals typically pretend to be from an official organization such as a bank or the government and use “caller ID spoofing” which allows them to make phone calls that appear to be from legitimate organizations. Vishing calls can be from a live person, robot, or both. With so many variables, it’s imperative to stay alert and keep your information protected.

Common vishing scams include:

Supposed fraud or suspicious activity on your bank account
Overdue or unpaid taxes to the IRS
Fake computer or IT support
Fake government agency

How to avoid vishing scams:

Never answer a call from an unknown number. Picking up may alert the scammer that the number is active and may lead to more calls down the road. Instead, let the call go to voicemail. If the scammer leaves a message, it will give you time to vet out the caller properly.
If you do answer, never give your personal information. Banks and government institutions will never ask for personal information over the phone. If you are asked for personal information or feel uncertain to the legitimacy of the call, hang up and call back after crossing referencing the number online or on the back of your credit card. It is worth noting that government institutions like the IRS almost exclusively communicate by mail or occasionally email.
Don’t trust Caller ID. As mentioned above, scammers can use “caller ID spoofing” to make calls appear to come from a legitimate source. While the call may be legitimate, keep your guard up and remember never give out personal information over the phone.

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.

December 18, 2018

River City Bank partners with SMUD to help grow the local economy

Local funding to drive economic development, job growth in Sacramento

SACRAMENTO, CA — December 18, 2018 — As one of three local banks involved in the Responsible Investments for a Stronger Economy program, also known as RISE, River City Bank received a $5 million deposit from SMUD which will be used to provide loans to local businesses. RISE was developed by Region Finance, a local non-profit that advocates for local economic development and job creation. As Sacramento’s premier business bank, River City Bank has committed to loan at least 50 percent of the designated funds to qualified applicants in the SMUD service area and will provide periodic updates to SMUD regarding the number of loans made and the projected number of jobs created.

“We are committed to investing in the growth of locally owned businesses and securing additional jobs as Sacramento’s stature grows on the national stage,” said Steve Fleming, President and CEO of River City Bank. “As a founding member of Region Finance and a firm supporter of the RISE program, River City Bank is excited to partner with SMUD to ensure the growth of our local economy, and our bankers look forward to leveraging this investment for the benefit of our entire region.”

River City Bank has been headquartered in Sacramento for more than 45 years and is heavily involved in the local community through its banking services and philanthropy. The bank recently announced that it is providing the loan financing for the new Fort Sutter Hotel in support of the Sacramento-based Paragary family. The 105-room boutique hotel is part of the Hilton Tapestry Collection and will open in Midtown Sacramento in 2020. With the recent launch of its Clean Energy Division, River City Bank also has taken the lead in servicing clients in this fast-growing space and is dedicated to expanding relationships with Community Choice Aggregation businesses such as Yolo County-based Valley Clean Energy and other players.

About Region Finance

Region Finance is a new trade association of Region Business for community banks and related institutions focused on advancing regional economic growth by improving access to capital for businesses in the Sacramento region. Region Finance advocates for government entities and regional corporations to keep money local through the use of local community banks whose business leadership, staff and customers are all located in the Sacramento area. Its mission is to catalyze success for the local business community by keeping and expanding the capital available in local banks that allow for a larger investment into the region. For additional information, please visit RegionBusiness.org/Region-Finance.

About SMUD

As the nation’s sixth-largest community-owned electric service provider, SMUD has been providing low-cost, reliable electricity for more than 70 years to Sacramento County (and small adjoining portions of Placer and Yolo Counties). SMUD is a recognized industry leader and award winner for its innovative energy efficiency programs, renewable power technologies, and for its sustainable solutions for a healthier environment.

SMUD’s power mix is about 50 percent non-carbon emitting. For more information, visit SMUD.org.

December 12, 2018

Online Shopping – Cybersecurity Tips for the Holidays

Woman sitting, surrounded by holiday presents, with laptop on her lap and shopping online

The busy holiday season is here and, for many, that means shopping and spending time with family and friends. It is also a busy time for cybercriminals, with over 40 percent of online scam attempts occurring during the last quarter of the year.

To have a safe and secure holiday season, we recommend the following safety precautions:

Use a Credit Card: It’s nearly impossible to tell how secure an online merchant is, so it’s best to be cautious and shop as though all merchants have been compromised. With that in mind, if you have a choice between using your credit or debit card, shop with your credit card. While you may not be liable for fraudulent charges, the effect of having your debit card compromised can be felt immediately when your checking account has been drained, and checks or recurring charges do not clear.
Review your Statements: Keep a close eye on your bank and credit card statements. Fraudsters are notorious for using the busy holiday season to make unauthorized charges on stolen cards, and the bogus purchases can get buried amid the flurry of legitimate purchases. Review your statements regularly (daily is best) and quickly dispute unauthorized charges.
Don’t Take the Bait: A favorite holiday phishing and malware scam involves spam emails that purport to have been sent by the U.S. Postal Service, FedEx, UPS, or other shipping services. The spam email is usually regarding a wayward package or asks for additional information for delivery. When in doubt, visit the e-commerce site or shipping site directly, and avoid clicking on links or attachments in emails.
Click with Care: Cybercriminals love to use holiday shopping and travel scams to gain access to information and computer systems. Scammers try to lure you to copycat websites of well-known brands or retailers by advertising great deals on hot-ticket items on social media sites or through search engines. Their goal: to deliver malware to your computer, steal your credit card number, or “phish” for personal information.
Connect with Caution: Most public Wi-Fi networks are not secure, so think twice before shopping or banking while on public Wi-Fi. Disable automatic Wi-Fi and Bluetooth before leaving home.

A security tip no longer recommended is the “look for the padlock” test. The presence of a padlock icon next to the website address used to signal a legitimate site versus a phishing trap. Unfortunately, half of all phishing scams are now hosted on a site whose address begins with “https://” and includes a padlock icon. The presence of the padlock icon does not mean the site is legitimate. A website address with an “https://” address or “Secure Sockets Layer (SSL)” simply signifies that data transmitted back and forth between your browser and the site is encrypted and cannot be read by third parties; not that the site is legitimate.

Major web browsers are working with security organizations to index and flag new phishing sites with warning pages; however, not all phishing scams are flagged quickly. With the “look for the padlock” test taken away, it’s paramount that you stay alert and vigilant about reviewing emails, links, and attachments for suspicious content. For more tips on how to keep your information safe during the holiday season, and how to help your family and friends with a cybersecurity checkup, visit krebsonsecurity.com.

At River City Bank, your personal and financial security is our top priority. If you have questions or concerns, please call a customer service representative at (916) 567-2899 or (800) 564-7144 or visit your nearest branch.