River City Bank Q3 Net Income Rises 55% to $30.6 Million
Third-quarter net income rose 55% year over year, largely driven by a $17.1 million mark-to-market gain on undesignated interest rate swaps.
River City Bank reported third-quarter net income of $30.6 million, up 55% from a year earlier. The increase was driven largely by a $17.1 million mark-to-market gain on undesignated interest rate swaps, reflecting rising U.S. Treasury rates during the quarter. Management said it does not view the mark-to-market fluctuation…