Redwood Capital Bancorp Q3 net income rises 14%, EPS up 18%

Overview

• California community bank's Q3 net income rose 14%, EPS up 18% yr/yr

• Net interest income for Q3 grew 11% yr/yr

• Company opened Shasta County loan office and received CDFI certification

Outlook

• Company remains focused on responsible growth and community impact going forward

• Redwood Capital Bank expanding into Shasta County with new loan production office

• Recent CDFI certification expected to expand access to capital and support local businesses

Result Drivers

• NET INTEREST MARGIN - Co said consistent growth in net interest margin contributed to results

• LOAN GROWTH - Co reported gross loans increased $29.4 mln year to date

• CDFI CERTIFICATION - Co said CDFI designation provides opportunities to expand access to capital and support local businesses

Company press release:

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)