River City Bank earns investment grade rating from S&P Global Ratings

By Georgio Salas.
Updated Aug 31, 2021

SACRAMENTO, Calif. (PRWEB) August 31, 2021 - River City Bank, Sacramentos premier business bank and consistently one of the regions fastest growing companies, has announced that S&P Global Ratings (S&P) has assigned it an investment grade long-term rating of BBB-. This rating reflects the banks strong credit performance in recent years, including through the COVID-19 pandemic, as well as its experienced management team, large loan loss reserve balances and low loan-to-value on its commercial real estate (CRE) loans. S&Ps outlook for the bank also underscores its stability, operational efficiency and solid earnings capacity for the next two years or more.

We are excited to announce our investment grade rating from S&P Global, one of the undisputed leaders in credit ratings on the global stage, said Steve Fleming, President and CEO of River City Bank. River City Bank is now one of the only banks in the nation with an asset size under five billion dollars to have secured an investment grade rating from S&P.

TWEET THIS: #BreakingNews: Following years of growth and expansion, @RiverCityBank announces new investment grade rating of BBB- from @SPGlobalRatings. #S&P #businessbanking

River City Bank has been named one of Sacramento Business Journals 50 Fastest Growing Companies for five consecutive years. Over the past five years, it has experienced average annual compounded loan growth of 18 percent. In addition to commercial real estate loan growth, a significant portion of the banks growth has been due to the expansion of the banks Clean Energy Division across California.

In its release, S&P noted, Overall asset quality has performed well in recent years--in fact, better than peers. The bank reported no nonperforming assets (NPAs) as of June 30, 2021, and it hasnt had positive net charge-offs since 2015.

According to S&P Global Market Intelligence, River City Bank ranked 19th among the nations best-performing community banks with asset size between $3B and $10B in 2020. S&P Global Market Intelligence and S&P Global Ratings are separately managed divisions of S&P Global.

For more information about River City Bank, visit RiverCityBank.com.

About River City Bank Named one of Sacramento Business Journals 50 Fastest Growing Companies for the past five years, River City Bank is the Sacramento regions premier business bank with assets of almost $3.4 billion. River City Bank offers a comprehensive suite of banking services, including loans, deposits and cash management tools to the business, consumer and commercial real estate sectors. With tailored, executive-level service, an investment grade credit rating from S&P Global Ratings, and a Superior financial rating from the nations leading independent bank-rating firm, Bauer Financial, River City Bank redefines the banking experience and every touch point that surrounds it. River City Bank is the largest, independent, locally-owned and managed bank in the Sacramento region with offices in the San Francisco Bay Area and a presence in Southern California. For additional information, please visit RiverCityBank.com or call (916) 567-2600. Member FDIC. Equal Housing Lender.