River City Bank Announces Closing of Initial Public Offering
River City Bank (NASDAQ: RCBC) (the “Bank”) today announced the successful completion of its initial public offering (IPO) of 2,700,000 shares of its common stock at a public offering price of $45.00 per share. The Bank's common stock began trading on the Nasdaq Capital Market under the symbol "RCBC" on August 6, 2026.
The offering consisted solely of existing shares held by two of the Bank's long-time shareholders associated with the family of the Bank's founder, Jon Kelly. As a result, the IPO was structured as a 100% secondary offering, with no new shares issued by the Bank. The offering provides increased liquidity for shareholders without diluting existing ownership interests or altering the Bank's capital position.
The IPO established a public market for the Bank's common stock, enhancing trading liquidity, increasing River City Bank's visibility within the investment community, broadening access to potential investors, and supporting the Bank's long-term strategic objectives.
"The IPO represents a major milestone in the Bank’s history," said Steve Fleming, Chief Executive Officer of the Bank. “By creating a more liquid market for existing shares without raising new capital or diluting ownership, the IPO aligns the interests of the Bank, its shareholders, and future investors. This event reflects the strength of the franchise that we have built over more than five decades and positions River City Bank for continued long-term success. Our commitment to creating shareholder value remains unchanged, and we will continue to serve our customers with the same relationship-focused approach and dedication to our employees, partners, and shareholders that have defined River City Bank for the past 53 years."
