North Bay Business Journal

Also: Redwood Trust calls first quarter strongest since recession

MILL VALLEY — Redwood Trust, Inc. (NYSE: RWT) today announced net income of $61 million for the first quarter of 2013, equivalent to 69 cents per diluted share and up 45.2 percent versus earnings in the first three months of last year.

American River Bank, a subsidiary of American River Bankshares [NASDAQ-GS: AMRB], with the American River Bankshares Foundation awarded $147,500 to nine nonprofit organizations in Northern California, including Legal Aid of Sonoma County. …

Redwood Trust, Inc. (NYSE:RWT) declared a first-quarter regular dividend of 28 cents per share, the first increase in six years. …

Rabobank, N.A., launched a program that automatically rewards customers for everyday banking. …

Redwood Credit Union, in partnership with the Sonoma County Office of Education and Santa Rosa City Schools, plans to offer eighth free 16-hour Financial Academy sessions for Sonoma County high school juniors and seniors on March 19–21. …

The application deadline for the Doyle Scholarship at Santa Rosa Junior College, restored for the 2013–14 academic year, is March 14. …

Enphase Energy, Inc. (NASDAQ: ENPH) said the 902-kilowatt photovoltaic project at Strain Ranches in Arbuckle was successfully commissioned. …

MILL VALLEY — Redwood Trust, Inc. (NYSE: RWT) today reported net income of $132 million in 2012, with earnings from the company’s mortgage banking arm and lower loss provisions contributing to the marked increase over $26 million in net income for 2011.

MILL VALLEY — Redwood Trust, Inc. (NYSE: RWT), the Mill Valley-based real estate investment trust, announced the departure of its co-founder and chairman, George Bull.

MILL VALLEY — Redwood Trust (NYSE: RWT), the 18-year-old real estate investment trust headquartered in Mill Valley, today reported a net loss of $3 million in the final quarter of 2011. Yet for the year ending Dec. 31, Redwood Trust earned $25 million.

MILL VALLEY — Brett Nicholas, a nearly 16-year employee of Redwood Trust Inc. (NYSE: RWT), has been appointed president of the real estate investment trust.

MILL VALLEY – Redwood Trust today announced the closing of a $290 million prime jumbo residential mortgage loan securitization sponsored by its wholly-owned subsidiary, RWT Holdings Inc.

Circle Bank, one of the leaders in the Tenants in Common market, has left that sector due to risk concentration in that market.

MILL VALLEY — Real estate investment trust Redwood Trust Inc. (NYSE: RWT) today reported its fourth-quarter estimated taxable loss was $6 million, or per share, compared with $35 million such loss a year before and a $9 million such loss in the third quarter.

Because of a bill vetoed last week by Gov. Arnold Schwarzenegger, California homeowners who sell short will have to pay taxes on forgiven mortgage debt.

Also: Ex-Prudential executive joining Redwood Trust Inc.

Burr Pilger Mayer announced a move toward more offerings for clients via a merger with Vista Wealth Management in Palo Alto.