River City Holds Steady During Financial Crisis

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(Sacramento, CA)
Monday, September 22, 2008

Stephen Fleming is president and chief executive officer of River City Bank. 

He says they’re in a good position because they’ve remained independent through all of the consolidation that’s gone on in the banking industry…unlike big institutions such as Washington Mutual and Lehman Brothers.  

"We’re doing surprisingly well. We’ve got very strong local ownership, local business people that own the bank. And they, throughout the history of the bank, have been very consistent in insuring that the management team of the bank operate a conservative and safe and sound operation."

River City Bank has assets of about $861 million.
Meanwhile…Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke are crafting a plan that would help ailing banks. Congress is promising quick action. Lawmakers say they will act on it before they recess for the November election.