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.