River Financial Corporation reported a 12.6% increase in tangible book value per share, rising from $32.90 at September 30, 2025, to $37.03 at September 30, 2026. The company, which operates as the bank holding company for River Bank & Trust, released these results via a press release dated October 15, 2026.
Financial performance metrics for the nine months ended September 30, 2026, showed significant growth compared to the prior year. Net income increased by $11.8 million, or 37.9%, reaching $43.0 million. Basic earnings per share increased by 36.7% to $5.51. Return on average equity was 18.5% year-to-date, up from 16.4% in the previous year.
The company’s balance sheet expanded during the period. Total assets grew by 6.5% to $4.09 billion, driven by a 10.9% increase in total loans to $2.93 billion and a 7.9% increase in total deposits to $3.61 billion.
Capital ratios also improved. The total risk-based capital ratio increased to 14.239% as of September 30, 2026, while the Common equity tier 1 capital ratio rose to 11.883%. The Tier 1 Capital ratio was reported at 8.428%.
Regarding credit quality, the nonperforming loans as a percentage of total loans increased from 0.29% at September 30, 2025, to 0.51% at September 30, 2026. However, the net charge-off percentage decreased from 0.11% to 0.04% over the same period.
