The Booth Brewing announces new IPA

The Booth Brewing Company’s new double IPA duo: Two Face. (Contributed)

The Booth Brewing recently released its first double IPA, or DIPA. The Two-Face DIPA duo features a West Coast style IPA and hazy New England style IPA. The Two Face West DIPA features West Coast flavors while the Two Face Northeast DIPA contains fruit-forward hops that give it a juicy profile. The head brewer at The Booth Brewing Co., Aaron Weshnak, is exploring the boundaries of what a double IPA can be like. A more traditional West Coast double IPA stands in contrast to a Northeast double IPA, highlighting how expansive and diverse this style can be.

The duo debuted at the brewery Feb. 1 and will be available in San Francisco, Humboldt, Merced, and Fresno regions and the Bay Area. These brews will also be available at San Francisco Beer Week events which are listed on their website. The Two-Face DIPA Duo are available in 16 oz. cans and on draft.

Wells Fargo Advisors announces new member

Wells Fargo Advisors recently announced a new addition to its Munson Financial Group. Daniel J. Dixon, financial advisor, will join the staff at the office on Fifth Street in Eureka. Dixon offers a variety of services, including help with selecting individual investments to devising a retirement plan. He has access to a range of resources, such as research analysts and economic and market experts, to assist clients in making personalized investment choices. He can be reached at 707-442-2225 or at

Redwood Capital issues earnings release

Redwood Capital Bancorp recently announced its unaudited financial results for the three- and 12-month periods that ended Dec. 31, 2018. The community bank holding company reaffirmed its ongoing quarterly cash dividend, while Redwood Capital Bank, the company’s wholly owned subsidiary looks toward opening its fourth branch location.

Total assets as of the end of 2018 were $368.1 million, a decrease of one percent over the Sept. 30 figure and a modest increase of eight percent over the Dec. 31, 2017 reported figures. Total deposits stood at $334.7 million as of Dec. 31, 2018, two percent less than the Sept. 30, 2018 figures and seven percent higher than the Dec. 31, 2017 numbers. Total loans as of Dec. 31, 2018, net of unearned income, were $278.7 million, a slight increase of one percent from the prior quarter and an increase of nine percent over the year ended Dec. 31, 2017.

Consolidated net income before taxes for the three and twelve months ended Dec. 31, 2018 totaled $1,611,000 and $5,684,000, up 21 percent from the figure reported for the three months ended Sept. 30, 2018 and 13 percent from the figure reported for the 12 months ended Dec. 31, 2017.  The company also reported net income for the fourth quarter of 2018 of $1,125,000, while net income for the year ended Dec. 31, 2018 was reported as $4,140,000. The earnings represented an 18 percent increase over the Sept. 30, 2018 quarter and an increase of 61 percent from the year ended Dec. 31, 2017. The strong performance in net income before taxes during the fourth quarter and full year are attributed to consistent, high-quality loan growth and strong cost controls.  A strong balance sheet and excellent loan quality are evidenced by a 1.79 percent decline in the Texas Ratio. Recoveries continue to exceed charge-offs.

Additionally, the board of directors declared a quarterly cash dividend of $0.07 per share, payable on Feb. 13, 2019 to shareholders of record at the close of business on Jan. 29, 2019. The dividend is equivalent to an annual rate of $0.28 per share or 1.81 percent, based upon a market price of $15.51 per common share.

“We are very pleased with the opportunity to enhance shareholder value by deploying capital in a sound manner while at the same time being consistent with the desire of our board of directors and our shareholders at large,” said CEO John Dalby. “We continue to be a well-capitalized organization with the ability to take advantage of strategic opportunities as they arise. The entire Redwood Capital Bank team is excited about the opportunities before us in 2019.”

The bank was awarded the 5-Star rating from Bauer Financial, a well-renown financial rating agency within the bank trade, Dalby said. “These results and accolades reflect the service and results-oriented culture of the company. We eagerly anticipate the February opening of our fourth branch location in Henderson Center, Eureka.  We look forward to expanding our footprint in the Eureka market and to becoming a part of the vibrant neighborhood and business district that makes up Henderson Center.”

Additionally, at this year’s Greater Eureka Chamber of Commerce Annual Dinner, the bank received the Large Business of the Year Award for its contributions to the community, top-notch customer service, positive work environment, investments in the local economy and commitment to giving back to the community in many ways. Dalby received the 2018 Leadership Impact Award.

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