August 23, 2016 9:44 PM ET

Banks

Company Overview of Redwood Capital Bank

Company Overview

Redwood Capital Bank provides personal and business banking products and services. The company offers checking accounts, savings accounts, insurance, and personal loans, as well as business loans, such as construction and development, real estate purchase, term loans for machinery and equipment, and lines of credit for working capital. It also provides online banking services. The company was founded in 2004 and is based in Eureka, California with branches in Fortuna and Arcata, California. Redwood Capital Bank operates as a subsidiary of Redwood Capital Bancorp.

402 G Street

Eureka, CA 95501

United States

Founded in 2004

Phone:

707-444-9800

Fax:

707-444-9801

Key Executives for Redwood Capital Bank

Chief Executive Officer, President, Director and Director of Redwood Capital Bancorp
Age: 57
Chief Financial Officer, Executive Vice President and Director
Age: 53
Chief Lending Officer, Senior Vice President and Director
Age: 50
Vice President and Consumer Loan Officer
Vice President and Commercial Loan Officer
Compensation as of Fiscal Year 2016.

Redwood Capital Bank Key Developments

Redwood Capital Bank Reports Unaudited Consolidated Earnings Results for the Three Month Period Ended June 30, 2016

Redwood Capital Bank reported unaudited consolidated earnings results for the three month period ended June 30, 2016. For the quarter, interest income was $3,132,000 against $2,896,000 a year ago. Net interest income was $2,930,000 against $2,722,000 a year ago. The increase was primarily attributed to consistent loan growth, increased Fannie Mae loan originations, strong cost controls and excellent credit quality. Net income before provision was $1,179,000 against $1,044,000 a year ago. Income before taxes was $1,179,000 against $924,000 a year ago. Net income was $461,000 against $352,000 a year ago. Earnings per share (fully diluted) were $0.38 against $0.30 a year ago. Book value per common share was $10.93 against $9.77 a year ago.

Redwood Capital Bank Declares Quarterly Cash Dividend Payable on May 13, 2016

The Board of Directors of Redwood Capital Bank declared a quarterly cash dividend of $0.06 per share, payable on May 13, 2016, to shareholders of record at the close of business on May 2, 2016.

Redwood Capital Bank Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2016

Redwood Capital Bank reported unaudited consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, interest income was $3,086,000 against $2,795,000 a year ago. Net interest income was $2,876,000 against $2,630,000 a year ago. Net income before provision was $1,031,000 against $739,000 a year ago. The increase was primarily attributed to continued loan growth, exceptional credit quality, and strong cost controls. Income before taxes was $941,000 against $639,000 a year ago. Net income was $535,000 against $448,000 a year ago. Earnings per share (fully diluted) were $0.28 against $0.24 a year ago. Book value per common share was $10.67 against $9.69 a year ago.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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