Earnings Release – Redwood Capital Bancorp – Second Quarter, 2026

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Strong Balance Sheet – Continued Dividend

EUREKA, Calif.--(BUSINESS WIRE)-- On July 29, 2026, REDWOOD CAPITAL BANCORP (OTCQX:RWCB), the only locally owned and operated community bank holding company in Humboldt County, announced unaudited financial results for the three month period ended June 30, 2026.

Jennifer P. Budwig, President, remarked, “Our second quarter results reflect the continued strength of Redwood Capital Bank's relationship-based banking model. We experienced solid loan growth, expanded our net interest margin and maintained the strong credit quality, capital and liquidity that have long been the foundation of our organization. The planned leadership transition between John E. Dalby and myself is progressing exactly as intended, ensuring continuity for our customers, employees and shareholders. Together, we remain focused on delivering exceptional service, supporting our local communities, investing in our employees and creating long-term value for our shareholders."

The company posted modest growth in the balance sheet during the second quarter of 2026. As of June 30, 2026, the company’s total assets were $563.3 million, an increase of 4% from the prior quarter and 2% from the same period last year. Total loans net of unearned income were $402.2 million as of June 30, 2026. Total deposits were $504.5 million as of June 30, 2026.

The continued high performing balance sheet produced net interest income of $5.4 million for the second quarter ending June 30, 2026, and $10.7 million year-to-date. For the second quarter ending June 30, 2026, the company recorded net income after taxes of $1.57 million and $2.95 million year-to-date. These strong earnings along with our successful stock buyback programs have increased book value per share by 3% or $.92 to $30.33 year-to-date. Renee Byers, SVP/Chief Financial Officer stated, “Redwood Capital Bank continues to provide excellent products and services, while contributing to our local community.”

Additionally, the Board of Directors declared a quarterly cash dividend of $0.10 per share, payable on August 7, 2026, to shareholders of record at the close of business on July 27, 2026. The dividend is equivalent to an annual rate of $0.40 per share. CEO Dalby added, “Redwood Capital Bancorp continues to provide consistent earnings for our shareholders while remaining an economic foundation for the community.”

For more information regarding Redwood Capital Bancorp, please visit our website at www.redwoodcapitalbank.com, contact Renee Byers, CFO, at (707) 444-9849, or stop by our headquarters and main office at 402 “G” Street, Eureka, CA 95501. Redwood Capital Bancorp (OTCQX:RWCB) trades on the OTCQX Best Market. Companies meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws and have a professional third-party sponsor introduction. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com

This press release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, and competition within the business areas in which the Bank is conducting its operations, including the real estate market in California and other factors beyond the Bank’s control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management’s view only as of the date hereof. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

Redwood Capital Bancorp
Selected Consolidated Financial Results - Unaudited
(In Thousands)
		Period Ended				%
		6/30/2026		3/31/2026		Change
Balance Sheet Data (at period end)
Total assets		$563,380		$540,589		4%
Total deposits		504,546		482,868		4%
Total loans (net)		402,328		383,440		5%
Common equity		56,637		56,079		1%
Common shares outstanding		1,867,559		1,873,710		-0.33%
Summary of Operations (Current Quarter)
Interest income		6,540		6,470		1%
Interest expense		1,145		1,129		1%
Net Interest Income		5,395		5,341		1%
Non-interest income		916		915		0%
Non-interest expense		4,144		4,221		-2%
Net Income before provision		2,167		2,035		6%
Provision for loan losses		108		138		-22%
Income before taxes		2,059		1,897		9%
Income taxes/(credit)		482		527		-9%
Net Income		1,577		1,370		15%
Earnings per common share (fully diluted)		$0.84		$0.73		15%
Book value per common share		$30.33		$29.93		1%
		Period Ended				%
		6/30/2026		6/30/2025		Change
Balance Sheet Data (at period end)
Total assets		$563,380		$549,823		2%
Total deposits		504,546		489,770		3%
Total loans (net)		402,328		382,251		5%
Common equity		56,637		53,706		5%
Common shares outstanding		1,867,559		1,974,071		-5%
Summary of Operations (Current Quarter)
Interest income		6,540		6,083		8%
Interest expense		1,145		1,345		-15%
Net Interest Income		5,395		4,738		14%
Non-interest income		916		752		22%
Non-interest expense		4,144		4,044		2%
Net Income before provision		2,167		1,446		50%
Provision for loan losses		108		-90		>-100%
Income before taxes		2,059		1,536		34%
Income taxes		482		421		14%
Net Income		1,577		1,115		41%
Earnings per common share (fully diluted)		$0.84		$0.56		50%
Book value per common share		$30.33		$27.21		11%

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260729045098/en/

Renee Byers, CFO, (707) 444-9849

Source: Redwood Capital Bancorp