Latest news with #RedwoodCapitalBancorp
Business Wire
a day ago
- Business
- Business Wire
Earnings Release – Redwood Capital Bancorp – Second Quarter, 2025
EUREKA, Calif.--(BUSINESS WIRE)--On July 30, 2025, REDWOOD CAPITAL BANCORP (OTCQX:RWCB), the only locally owned and operated community bank holding company in Humboldt County, announced unaudited financial results for the three month period ended June 30, 2025. John Dalby, President and CEO, remarked, "In the second quarter of 2025, the company maintained its strong balance sheet and high-quality loan portfolio, supported by healthy capital and liquidity positions. Earnings per share were $0.56 for the quarter and $1.15 year-to-date. The Redwood Capital Bank team continue to serve our customers, community and shareholders with excellence, which has always been the impetus of our success.' The company posted modest growth in the balance sheet during the second quarter 2025. As of June 30, 2025, the company's total assets were $549.8 million, an increase of 6% from the prior quarter and 6% from the same period last year. Total loans net of unearned income was $382.3 million as of June 30, 2025. Total deposits were $489.7 million as of June 30, 2025. The continued high performing balance sheet produced net interest income of $4.7 million for the second quarter ending June 30, 2025, and $12 million year-to-date. For the second quarter ending June 30, 2025, the company recorded net income after taxes of $1.1 million and $2.3 million year-to-date. These strong earnings have increased book value per share by 1% or $0.38 to $27.21 for the second quarter ending June 30, 2025, and an increase to book value of $1.38 year-to-date. Renee Byers, SVP/Chief Financial Officer, stated, 'Redwood Capital Bank continues to provide excellent products and services, while contributing to our local community.' Additionally, the Board of Directors declared a quarterly cash dividend of $0.09 per share, payable on August 8, 2025, to shareholders of record at the close of business on July 28, 2025. The dividend is equivalent to an annual rate of $0.36 per share. CEO Dalby added, 'Redwood Capital Bancorp continues to provide consistent earnings for our shareholders while remaining an economic foundation for the community.' For more information regarding Redwood Capital Bancorp, please visit our website at contact Renee Byers, CFO, at (707) 444-9849, or stop by our headquarters and main office at 402 'G' Street, Eureka, CA 95501. Redwood Capital Bancorp (OTCQX:RWCB) trades on the OTCQX Best Market. Companies meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws and have a professional third-party sponsor introduction. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on This press release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, and competition within the business areas in which the Bank is conducting its operations, including the real estate market in California and other factors beyond the Bank's control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. Redwood Capital Bancorp Selected Consolidated Financial Results - Unaudited (In Thousands) Period Ended % 3/31/2025 Change Balance Sheet Data (at period end) Total assets $ 549,823 $ 519,389 6 % Total deposits 489,770 461,146 6 % Total loans (net) 382,251 383,033 0 % Common equity 53,706 52,446 2 % Common shares outstanding 1,974,071 1,954,627 1 % Summary of Operations (Current Quarter) Interest income 6,083 5,983 2 % Interest expense 1,345 1,311 3 % Net Interest Income 4,738 4,672 1 % Non-interest income 752 819 -8 % Non-interest expense 4,044 3,922 3 % Net Income before provision 1,446 1,569 -8 % Provision for loan losses (90 ) (17 ) >-100% Income before taxes 1,536 1,586 -3 % Income taxes/(credit) 421 436 -3 % Net Income 1,115 1,150 -3 % Earnings per common share (fully diluted) $ 0.56 $ 0.59 -4 % Book value per common share $ 27.21 $ 26.83 1 % Period Ended % 6/30/2025 6/30/2024 Change Balance Sheet Data (at period end) Total assets $ 549,823 $ 520,378 6 % Total deposits 489,770 460,814 6 % Total loans (net) 382,251 383,123 0 % Common equity 53,706 47,847 12 % Common shares outstanding 1,974,071 1,960,374 1 % Summary of Operations (Current Quarter) Interest income 6,083 5,444 12 % Interest expense 1,345 1,126 19 % Net Interest Income 4,738 4,318 10 % Non-interest income 752 1,055 -29 % Non-interest expense 4,044 3,143 29 % Net Income before provision 1,446 2,230 -35 % Provision for loan losses -90 137 >-100% Income before taxes 1,536 2,093 -27 % Income taxes 421 541 -22 % Net Income 1,115 1,552 -28 % Earnings per common share (fully diluted) $ 0.56 $ 0.79 -29 % Book value per common share $ 27.21 $ 24.41 11 % Expand
Business Wire
01-07-2025
- Business
- Business Wire
Redwood Capital Bancorp Announces Stock Repurchase Program
EUREKA, Calif.--(BUSINESS WIRE)--REDWOOD CAPITAL BANCORP (the 'Company') (OTCQX:RWCB), the only locally owned and operated community bank holding company in Humboldt County, announced that its Board of Directors recently approved a program under which the Company may repurchase up to $1 million worth of the Company's outstanding shares of common stock (the 'Stock Repurchase Program'). The Company's Stock Repurchase Program is effective July 1, 2025 and will remain in effect until September 30, 2025, subject to the earlier termination or extension of the Stock Repurchase Program by the Board of Directors, or when the $1 million designated for the Stock Repurchase Program are depleted. This is the Company's first Stock Repurchase Program. John E. Dalby, President and CEO, stated, 'The Stock Repurchase Program reflects the Board of Directors' commitment to enhancing shareholder value. The Stock Repurchase Program is reflective of the Company's strong capital position, liquidity for our shareholder base and the long-term value of our Company.' Shares may be repurchased in open market or private transactions and will be conducted pursuant to any trading plan that may be adopted in accordance with limitations set forth in Rule 10b5-1 promulgated by the Securities and Exchange Commission. The repurchase program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The repurchase program does not obligate the Company to purchase any particular number of shares. Funding for the Stock Repurchase Program will primarily come from the Company's existing internal funds, with additional support from dividends received from Redwood Capital Bank (the 'Bank'), the Company's wholly owned subsidiary, as needed. The implementation of the repurchase will also adhere to all relevant federal and state securities laws, thereby ensuring compliance with the regulatory framework. For further information, please contact our market maker responsible for this 10b5-1 Stock Repurchase Program: Joey Warmenhoven, CEO JWTT, Inc. Office: (971) 323-0700 For more information regarding Redwood Capital Bancorp, please visit our website at contact Renee Byers, CFO, at (707) 444-9849, or stop by our headquarters and main office at 402 'G' Street, Eureka, CA 95501. Redwood Capital Bancorp (OTCQX:RWCB) trades on the OTCQX Best Market. Companies meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws and have a professional third-party sponsor introduction. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on This press release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, and competition within the business areas in which the Bank is conducting its operations, including the real estate market in California and other factors beyond the Bank's control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.
