History

Strength, conservatism, stability

In 1972, Jon S. Kelly, a successful radio and television entrepreneur, perceived a need for a strong independent bank in Sacramento. Having gathered support from a select group of Sacramento business people, Mr. Kelly applied to the State Banking Department in September, 1972, for the approval of a new bank to be known as Pony Express Bank. All the necessary approvals were secured by mid-1973, and the organization began to capitalize itself through the sale of common stock. The initial stock offering was fully subscribed almost instantly, allowing the bank to open for business on December 14, 1973 as River City Bank.

We opened our doors in a small storefront location at 1010 J Street. Eleven employees composed the entire staff. Through market research, we launched marketing efforts to promote three core concepts: no-charge checking accounts, low-interest-rate auto loans and extended banking hours. These concepts proved instantly successful. After the first year of operation, the bank had grown to show total assets of $12,577,887 and reported net income of $8,731 as of December 31, 1974. In addition, the staff had grown from 11 employees to 18.

On March 8, 1975, we opened our first branch office in temporary facilities on the present site of the Howe Avenue branch. This began the era of Saturday banking, which was perceived as a breakthrough in traditional service, offered in the interest of customer service. The permanent branch facility, once completed, included eight drive-up lanes, making it the largest facility of its kind in the state. In 1983, we opened our first automatic teller machine (ATM) to expand services to our customers. In an effort to find a new niche in the market, we began opening two branches on Sundays. By the end of 1983, the bank's total assets had grown to $150,873,000.00, thus removing River City Bank from the small bank category.

In 1988, River City Bank acquired First Security Bank of Elk Grove, thus adding two branches to the network. The Bank assumed the 1963 origination date of First Security Bank of Elk Grove, thus adding 10 years to our history of serving the community. The Bank also purchased a six-acre parcel of land and began construction on a 150,000-square-foot office building. Located in the rapidly developing area north of the city known as South Sacramento - Natomas, this office building is now the headquarters of River City Bank, as well as a branch office. Another milestone occurred on October 14, 1991, when River City Bank opened its first in-store branch at the current Bel Air supermarket in Roseville, at the corner of Cirby and Sunrise.

River City Bank currently enjoys a unique niche in the banking marketplace of the greater Sacramento metropolitan area. We have earned the respect of the local financial community and are highly regarded by the consuming public, with a reputation for strength, conservatism and stability. The bank is now Sacramento region's largest locally-owned premier bank with 16 branches, assets just over $860 million and more than 200 employees.

Back to top