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Overview of RBB Bancorp
RBB Bancorp is a bank holding company that operates through its wholly-owned subsidiaries, including Royal Business Bank and RBB Asset Management Company. Specializing in commercial banking, trade finance, and real estate loans, the company provides a comprehensive suite of financial services that cater to both businesses and individual customers. As a California state-chartered commercial bank, Royal Business Bank offers a range of traditional banking products integrated with modern digital solutions, ensuring flexibility and convenience for its diverse customer base.
Business Model and Service Offerings
The company’s core business is providing traditional depository products as well as innovative commercial financing solutions. Its service offerings include checking, savings, money market accounts, and certificates of deposit, complemented by robust digital banking solutions such as remote deposit capture, E-banking, and mobile banking applications. On the lending front, RBB Bancorp focuses on:
- Commercial real estate loans designed for business properties
- Secured commercial and industrial loans supporting business growth
- Trade finance services that facilitate cross-border transactions, especially for companies engaged in trade with Asian markets
- Residential mortgage loans, including non-qualified single-family loans
- Loans under the Small Business Administration (SBA) programs, including 7A and 504 loans
Revenue is primarily generated from interest earned on a diversified portfolio of loans and leases, augmented by fee-based income from lending services, deposit account management, loan servicing, and wealth management. Additionally, the company earns income from investment securities, contributing to a balanced approach in its revenue streams.
Market Position and Competitive Landscape
RBB Bancorp has established its significance by combining traditional banking practices with tailored commercial financing solutions. The bank competes within the dynamic financial services sector by targeting niche markets such as international trade and specialized commercial lending. It differentiates itself through a well-integrated service model that emphasizes both personalized customer service and the flexibility of modern digital banking tools.
Operational Excellence and Risk Management
The bank maintains a strong emphasis on risk management and capital preservation by following stringent credit quality standards and deploying advanced monitoring systems. Its revenue generation relies on a careful balance between interest income from its expansive loan portfolio and noninterest income derived from ancillary services. The comprehensive approach to both product offerings and risk controls highlights its resilience and robust operational framework.
Commitment to Service and Digital Innovation
Embracing modern digital banking trends, RBB Bancorp is committed to offering remote banking solutions that enhance customer convenience while ensuring secure and reliable service. This integration of technology in its operations not only streamlines processes but also reinforces the company's commitment to meeting evolving customer expectations and market demands.
Through a diversified mix of traditional deposit products and specialized loan options, RBB Bancorp continues to position itself as a key institutional player. Its focus on tailored commercial services, coupled with solid risk management practices and digital innovation, creates a well-rounded financial institution that caters to the multifaceted needs of its clients.
RBB Bancorp reported Q4 2024 financial results with net income of $4.4 million ($0.25 per diluted share), down from $7.0 million ($0.39 per share) in Q3 2024. For full-year 2024, net income was $26.7 million ($1.47 per share) compared to $42.5 million ($2.24 per share) in 2023.
Key Q4 metrics include:
- Net interest margin increased to 2.76% from 2.68% in Q3
- Net interest income rose to $26.0 million from $24.5 million in Q3
- Provision for credit losses increased to $6.0 million from $3.3 million in Q3
- Nonperforming assets rose to $81.0 million (2.03% of total assets)
Total assets stood at $4.0 billion, with loans held for investment at $3.1 billion. The loan-to-deposit ratio was 97.5%, and total deposits were $3.1 billion. The allowance for loan losses as a percentage of loans increased to 1.56% from 1.41% in Q3 2024.
RBB Bancorp (NASDAQ: RBB) has announced the rescheduling of its fourth quarter and fiscal year 2024 financial results release to February 3, 2025, after market close. The delay is due to the company and its advisors requiring additional time to complete quarterly and year-end analysis.
A conference call is scheduled for February 4, 2025, at 11:00 a.m. Pacific Time to discuss the results. As of September 30, 2024, RBB Bancorp reported total assets of $4.0 billion. The company operates through its subsidiary Royal Business Bank, providing banking services primarily to Asian-centric communities across multiple states including California, Nevada, New York, New Jersey, Illinois, and Hawaii. The bank maintains a network of branches across these locations, offering services including remote deposit, E-banking, various loan products, trade finance, depository accounts, and wealth management services.
RBB Bancorp (NASDAQ: RBB) has declared a quarterly cash dividend of $0.16 per common share, payable on February 12, 2025, to shareholders of record as of January 31, 2025. The company provided an update on the Los Angeles County wildfire impact, reporting no damage to its facilities or material impact on its loan portfolio. Currently, twelve properties (six commercial worth $12.5 million and six residential worth $3.4 million) near evacuation areas are being monitored, all with insurance coverage in place.
The bank has donated $30,000 to support affected low-to-moderate income communities and is providing support services to team members and customers. As of September 30, 2024, RBB Bancorp had total assets of $4.0 billion and operates through its subsidiary Royal Business Bank, serving Asian-centric communities across multiple states with 24 branches.
RBB Bancorp (NASDAQ: RBB) has announced it will release its fourth quarter and fiscal year 2024 financial results after market close on January 21, 2025. The company will host a conference call to discuss the results on January 22, 2025, at 11:00 a.m. Pacific Time.
As of September 30, 2024, RBB Bancorp reported total assets of $4.0 billion. The company operates through its subsidiary Royal Business Bank, providing commercial and consumer banking services primarily to Asian-centric communities. The bank maintains a network of branches across California, Nevada, New York, New Jersey, Illinois, and Hawaii, offering services including remote deposit, E-banking, various types of loans, trade finance, depository products, and wealth management services.
RBB Bancorp (NASDAQ: RBB) has announced key leadership changes effective January 1, 2025. Johnny Lee, currently President and Chief Banking Officer of Royal Business Bank, will become President of the Company and CEO of the Bank. He will additionally assume the role of Company CEO on May 22, 2025. David Morris will step down as Bank CEO and Company President on January 1, 2025, and retire as Company CEO on May 21, 2025, while remaining on the Boards.
Additional changes include Mina Rizkalla becoming Executive VP and Chief Risk Officer, while I-Ming Liu will transition to Executive VP and Chief of Staff. As of September 30, 2024, RBB Bancorp had total assets of $4.0 billion and operates 24 branches across California, Nevada, New York, New Jersey, Illinois, and Hawaii.
RBB Bancorp (NASDAQ:RBB) reported its Q3 2024 financial results with a net income of $7.0 million, or $0.39 diluted earnings per share, consistent with Q2 2024. The net interest margin slightly increased to 2.68%, driven by higher interest income on loans. Noninterest income rose by $2.3 million due to a $2.8 million loan recovery. The provision for credit losses increased to $3.3 million from $557,000 in Q2 2024, reflecting higher nonperforming loans. Noninterest expense grew by $297,000 due to increased salaries and loan-related expenses. Total assets reached $4.0 billion, and total deposits grew by $68.6 million. The Board of Directors declared a quarterly cash dividend of $0.16 per share, payable on November 12, 2024.
RBB Bancorp (NASDAQ: RBB) has announced it will release its third quarter 2024 financial results on Monday, October 21, 2024, after market close. The company will host a conference call to discuss the results on Tuesday, October 22, 2024, at 11:00 a.m. Pacific Time/2:00 p.m. Eastern Time.
To participate in the call, investors can dial 1-888-506-0062 or 1-973-528-0011, using passcode 392446 and Conference ID RBBQ324. A replay will be available until November 5, 2024. Additionally, a live webcast will be accessible through the company's website.
RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California. As of June 30, 2024, the company had total assets of $3.9 billion. Its subsidiary, Royal Business Bank, provides business banking services primarily to Asian-centric communities across several states, including California, Nevada, New York, New Jersey, Illinois, and Hawaii.
RBB Bancorp (NASDAQ:RBB) announced the termination of the Consent Order issued by the FDIC and DFPI on October 25, 2023. The order was lifted on August 21, 2024, following the successful resolution of deficiencies in the Bank's Anti-Money Laundering/Countering the Financing of Terrorism (BSA/CFT) compliance program. CEO David Morris expressed satisfaction with the resolution and thanked the team for their efforts in strengthening the BSA/CFT program.
As of June 30, 2024, RBB Bancorp had total assets of $3.9 billion. The company operates through its subsidiary, Royal Business Bank, providing various banking services to predominantly Asian communities across multiple states, including California, Nevada, New York, New Jersey, Illinois, and Hawaii.
RBB Bancorp (NASDAQ:RBB) reported Q2 2024 net income of $7.2 million, or $0.39 diluted EPS, compared to $8.0 million, or $0.43 diluted EPS in Q1 2024. Net interest margin decreased from 2.69% to 2.67%, with net interest income dropping by $912,000 to $24.0 million. Noninterest income rose by $116,000 to $3.5 million, while noninterest expense increased by $155,000 to $17.1 million. The company recorded a $557,000 provision for credit losses, up from no provision in Q1 2024.
Loan growth was seen at $20 million, with a rise in nonperforming loans to $54.6 million. Total assets were $3.9 billion, a slight decrease from $3.91 billion in Q1 2024. Shareholder equity was $511.3 million, with book value per share rising to $28.12. The board declared a $0.16 per share dividend payable on August 12, 2024. RBB repurchased 448,190 shares for $8.1 million.
RBB Bancorp (NASDAQ: RBB) has announced a quarterly cash dividend of $0.16 per common share, payable on August 12, 2024, to shareholders of record as of July 31, 2024. RBB Bancorp is a bank holding company headquartered in Los Angeles, with total assets of $3.9 billion as of March 31, 2024. Its subsidiary, Royal Business Bank, provides business banking services primarily to Asian communities across California, Nevada, New York, New Jersey, Illinois, and Hawaii. The bank offers a range of services including remote deposit, E-banking, mobile banking, various loan products, and wealth management services. RBB Bancorp operates through a network of branches across these states, with administrative and lending centers in Los Angeles and Buena Park, California.
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