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RBB Bancorp (symbol: RBB) is a prominent bank holding company headquartered in California. It primarily serves as the holding company for Royal Business Bank and RBB Asset Management Company. Royal Business Bank, a state-chartered commercial bank, is the cornerstone of RBB Bancorp’s operations, focusing on delivering exceptional commercial banking services.
RBB Bancorp’s core business revolves around providing a wide range of financial products and services. These include traditional commercial real estate loans, secured commercial and industrial loans, and trade finance services, which are crucial for companies engaged in business activities in China, Taiwan, and other Asian countries. Additionally, the bank offers non-qualified single-family residential mortgage loans and Small Business Administration (SBA) loans.
The diverse array of banking services provided by RBB Bancorp includes checking accounts, savings accounts, money market accounts, and certificates of deposits. Moreover, the bank extends modern banking conveniences such as remote deposit capture, e-banking, and mobile banking to its customers.
RBB Bancorp generates its revenue primarily from the interest accrued on loans and leases. A portion of its revenue also comes from interest on investment securities. Additionally, noninterest income sources such as fees from various lending and deposit services, loan servicing, gains on sales of loans, and wealth management services contribute significantly to the company’s financial health.
As of March 31, 2017, RBB Bancorp reported total consolidated assets of $1.5 billion, total consolidated deposits of $1.2 billion, and total consolidated shareholders' equity of $183.5 million. These figures underscore the company’s robust financial condition and steady growth trajectory.
RBB Bancorp continues to expand its influence and customer base through strategic partnerships and projects. The bank is committed to serving the financial needs of businesses and individuals, especially within the Asian-American community, maintaining a strong focus on client satisfaction and community development.
RBB Bancorp (NASDAQ:RBB) reported a net income of $11.0 million, or $0.58 diluted earnings per share, for Q1 2023, down from $17.6 million ($0.92 per share) in Q4 2022. The decline was attributed to increased legal and professional expenses. Deposits rose by $58.5 million (8.7% annualized), showcasing strong customer loyalty, while net interest income declined to $34.1 million due to rising interest expenses on time deposits. The company’s liquidity remains robust with a strong capital position. Nonperforming assets increased to $27.0 million, representing 0.66% of total assets, indicating a slight deterioration in asset quality. Management is restructuring to target a loan-to-deposit ratio below 100% by mid-2023. Additionally, a $0.16 cash dividend was declared, payable on May 12, 2023.
RBB Bancorp (NASDAQ:RBB) announced the appointment of Robert Franko and Scott Polakoff to its Board of Directors, effective April 20, 2023. Franko brings over 35 years of commercial banking experience, previously serving as President & CEO of First Choice Bancorp, sold to Enterprise Financial Services Corp (NASDAQ:EFSC) in July 2021. Polakoff has extensive regulatory experience, having been with the FDIC for 22 years and now serving as Executive Vice President at FinPro, Inc. Chairman Dr. James Kao expressed confidence in their ability to enhance shareholder value through their industry expertise. RBB Bancorp, a community-based financial holding company, had total assets of $3.9 billion as of December 31, 2022, serving Chinese-American communities across several states.
RBB Bancorp has declared a quarterly cash dividend of
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