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Redwood Capital announces financial results
Redwood Capital Bank announced this week the unaudited financial results for the three-month period that ended June 30. Redwood Capital Bank, the company’s wholly owned subsidiary, reported strong second-quarter earnings.
John Dalby, president and CEO of the company, said in a prepared statement, “The Redwood Capital Bancorp board of directors and staff are pleased to announce the second quarter 2023 results as well as the June 30 year-to-date results.”
The company posted modest growth in the major balance sheet categories of assets, loans and deposits during the second quarter of 2023. Total assets as of June 30 were $526 million, an increase of 3% from the prior quarter. Total loans, net of unearned income, rose to $384.9 million as of June 30, an increase of 1% from the prior quarter.
Net interest income for the quarter totaled $4.6 million, an increase of 18% from the $3.9 million reported for the three months that ended June 30, 2022.
The board of directors declared a quarterly cash dividend of $0.08 per share, payable Aug. 11, to shareholders of record at the close of business July 31.
New Amtrak route added from Arcata
Riders traveling on Amtrak’s San Joaquins Route 7, the bus route from the Martinez Amtrak station to Arcata (Cal Poly Humboldt) and encompassing a total of 18 stops, can now purchase bus-only tickets for all city pairs along the route. The expansion of service broadens the scope and connectivity of the bus top pairs previously available on Route 7.
Historically, travelers on all bus routes were required to have a segment of train travel as part of the overall trip to travel on the bus. However, state legislation, SB 742 authored by state Sen. Ben Allen (D-Santa Monica), was passed in 2019 to remove the requirement for intercity passenger rail/thruway bus services to sell companion rail tickets as a condition of the sale. A
“We are pleased to now be at the point where we can expand connectivity along Route 7 to its fullest extent,” said Pat Hume, chair for the San Joaquin Joint Powers Authority. “Fully opening Route 7 is a result of extensive collaboration with local stakeholders and regional transit providers and is a part of our ongoing effort to make Amtrak San Joaquins a comprehensive transportation solution for communities statewide.”
Providence in Eureka recognized by US News
Providence St. Joseph Hospital in Eureka announced it was named by U.S. News and World Report to its 2023-24 Best Hospitals list. Overall, U.S. News ranked St. Joseph Hospital No. 68 in California out of 420 hospitals evaluated.
St. Joseph Hospital was named as a Best Regional Hospital on the North Coast in the 2023-24 “Best Hospital” rankings. U.S. News evaluated more than 4,500 hospitals across 15 specialties and 21 procedures and conditions; only 12% of evaluated hospitals earned a Best Hospitals ranking.
“Providence St. Joseph Hospital is committed to providing the highest level of care to our friends, families and neighbors in Humboldt County and ensuring every patient has access to leading-edge procedures and research-backed treatments,” Interim chief executive and chief medical officer Ranjit Hundal said in a news release. “I want to congratulate our physicians, nurses and staff members who made this achievement possible by providing exceptional outcomes for our community.”
RCEA offers webinar on response programs
The Redwood Coast Energy Authority (RCEA) is presenting a webinar on demand response programs on Aug. 16, from 6:30 to 8 p.m. on Zoom for residents and businesses in Humboldt County.
Participants can learn how demand response programs allow them to actively manage energy usage and save money or earn incentives. To help residents and businesses choose a program, RCEA created a demand response provider referral list.
“Demand response programs offer several benefits, including reducing energy consumption during peak periods, reducing strain on the electrical grid, lowering electricity costs for participants, and promoting environmental sustainability by reducing energy-related emissions. There can also be cost savings and financial incentives for participants,” RCEA program manager Roku Fukui said in a prepared statement.
CPower, Enersponse, and Olivine are the three demand response providers on RCEA’s referral list that are registered with the California Public Utilities Commission. They will present on specific program guidelines, benefits and incentives.
Go to RCEA’s website to learn more about the webinar at https://redwoodenergy.org/events/ or call 707-269-1700.
Backpack giveaway Monday in Eureka
Acceptance Insurance is offering K-12 students a free backpack and school supplies across Northern California as part of the company’s service vision to “take care of each other.” This year’s giveaway is co-sponsored by Kemper Auto.
The backpack giveaway from be at 3144 Broadway, Suite C-6, in Eureka from 10 a.m. to 2 p.m.
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