River City Bank Announces Secondary Capital Offering

Share Name	Share Symbol	Market	Type
River City Bank (MM)	NASDAQ:RCBK	NASDAQ	Common Stock

Share Name

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River City Bank (MM)

NASDAQ:RCBK

NASDAQ

Common Stock

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6.6201

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River City Bank Announces Secondary Capital Offering

03/06/2005 10:06pm

PR Newswire (US)

River City Bank (NASDAQ:RCBK)
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River City Bank Announces Secondary Capital Offering MECHANICSVILLE, Va., June 3 /PRNewswire-FirstCall/ -- River City Bank (OTC:RCBK) (BULLETIN BOARD: RCBK) a Virginia state chartered bank headquartered in Mechanicsville, Virginia, announced today that it has commenced a rights offering of 310,000 shares of common stock to shareholders of record as of May 24, 2005 and a public offering of 310,000 shares of common stock. Each shareholder as of May 24, 2005 will be entitled to purchase in the rights offering one share for every three shares owned on May 24, 2005. Any shares not subscribed for by shareholders in the rights offering will be offered to the general public as part of the public offering. McKinnon & Company, Inc., an investment banking firm based in Norfolk, Virginia will serve as the underwriter in the public offering on a best efforts basis. River City Bank has reserved the right to sell up to an additional 93,000 shares in the public offering. The Bank intends to use the proceeds from the offerings to support future growth of its commercial banking and branch expansion. The Bank intends to apply to have its common stock qualified for listing on the NASDAQ SmallCap Market and intends to have such listing effective immediately after the closing of the offerings. At March 31, 2005, River City Bank had total assets of $32.67 million, total deposits of $24.70 million and stockholders' equity of $7.80 million. To receive a copy of the preliminary offering circular for the public offering, contact McKinnon & Company, Inc., 555 East Main Street, Suite 1212, Norfolk, Virginia 23510, (757) 623-4636. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release and the preliminary offering circular contain "forward- looking statements" that concern future events which are subject to risks and uncertainties. Any such statements are based on certain assumptions and analyses by the Bank and other factors it believes are appropriate in the circumstances. The Bank's actual results, events and developments may differ materially from those contemplated by any forward-looking statement. Consequently, all forward-looking statements made in this press release and in the preliminary offering circular are qualified by cautionary language contained in the preliminary offering circular. DATASOURCE: River City Bank CONTACT: Zirkle Blakey, III, Executive Vice President & Chief Financial Officer of River City Bank, +1-804-730-4100 Web site: http://www.rivercitybank.org/

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RCBK River City Bank (MM)