River City Bank’s reported third-quarter profit increased, but its adjusted earnings per share were lower than a year earlier. The bank’s 23 October 2026 release shows why readers need both measures: a US$17.1 million mark-to-market gain on certain interest-rate swaps lifted the accounting result.
Reported and adjusted performance
| Measure | Disclosure | Official source |
|---|---|---|
| Reported net income | US$30.609 million, versus US$19.684 million in Q3 2025. | Primary record |
| Reported earnings per share | US$2.16, versus US$1.36 a year earlier. | Primary record |
| Adjusted earnings per share | US$1.29, versus US$1.43 a year earlier. | Primary record |
| Adjusted net income | US$18.347 million, versus US$20.805 million a year earlier. | Primary record |
| Core pre-tax, pre-provision income | US$29.294 million, versus US$28.391 million a year earlier; a separate non-GAAP measure. | Primary record |
What the swap adjustment changes
A mark-to-market movement records a change in a financial instrument’s value. For swaps not designated in a qualifying hedge relationship, those movements pass through the income statement. The bank removes the after-tax effect when calculating adjusted net income and EPS.
The reconciliation deducts a net US$12.262 million after-tax derivative gain from this quarter’s reported net income. That helps explain why reported EPS rose while adjusted EPS declined. Neither figure should be compared with the other year’s different accounting basis.
Core pre-tax, pre-provision income also excludes the derivative valuation movement, but is calculated before credit-loss provisions and income tax. It is not interchangeable with adjusted net income or final profit.
Declared dividend and future dates
| Measure | Disclosure | Official source |
|---|---|---|
| Amount and per-share basis | US$0.05 per common share. | Primary record |
| Eligibility and record date | Shareholders of record on 3 November 2026. | Primary record |
| Scheduled payment date | 17 November 2026; not yet verified as paid. | Primary record |
| Ex-dividend date | Not stated in the reviewed release; no date is inferred. | Primary record |
The record date determines the holders used for the distribution; the payment date is a later scheduled event. The declaration does not establish an assured gain, and no dividend yield is calculated without a separately verified share price.
Official sources and reporting scope
Primary document and official companion record. The companion bank page links back to the detailed issuer release; these are not independent analyses. Latest saved source observation: . This report does not establish a live share-price reaction or an investment return.
Related CapKet coverage: Rogers’ separate reported earnings and dividend timetable.
Recorded source observation: . This is a source-check timestamp, not a market quote or a new article update.