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

By Reuters News


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

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Dividend

$0.10


Reuters Recommended Reads

  • Oct 28 - California Bancorp Q3 profit declines on higher provision for credit losses

  • Oct 27 - First Community Bankshares Q3 net income rises 26%

  • Oct 28 - Hope Bancorp Q3 net income rises 16% year over year


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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