River City Bank’s Q3 Reported EPS Climbs to $2.16 on Derivative Gain

River City Bank’s reported earnings per share rose to $2.16 in the third quarter from $1.36 a year earlier, as a swing in interest-rate derivatives was the primary reason net income increased.

Net income for the quarter ended Sept. 30, 2026, was $30.609 million, up from $19.684 million in the same period a year earlier. The bank recorded a $17.149 million gain from changes in the fair value of derivatives, compared with a $1.568 million loss a year earlier.

Adjusted earnings per share, a non-GAAP measure that excludes the after-tax effect of fair-value changes on undesignated interest-rate swaps, was $1.29. It was $1.43 in the year-earlier quarter and $1.21 in the prior quarter.

Net interest income was $37.846 million, while core noninterest income was $2.651 million.

The quarter followed River City Bank’s August initial public offering and listing on the Nasdaq Capital Market under the ticker RCBC. The secondary offering consisted of shares sold by existing shareholders, and the bank issued no new shares.

“This quarter was quite exceptional in the Bank’s 53-year history due to our IPO and listing on the Nasdaq,” President and CEO Steve Fleming said.