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Sunday, June 05, 2005

River City Bank (RCBK)

Ok, so I'm looking at this as a potential bank earlier in its life cycle. This was found in July, 2004. They compare reasonably well with Bank of the James at the equivalent same point in time.

River City Bank
Mechanicsville, VA
FDIC certification #57743

Unfortunately, it's difficult getting information about RCBK. There are about 930,000 shares outstanding, with a rights offering to sell up to 310,000 more to increase equity. Anything not sold in rights offerings will be offered to the general public. The market cap right now is about $11 million, before the secondary offering.

I've done some preliminary ground work and haven't run into anything bad. This needs more work.

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