Welcome to our dedicated page for RBB news (Ticker: RBB), a resource for investors and traders seeking the latest updates and insights on RBB stock.
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 has declared a quarterly cash dividend of
RBB Bancorp (NASDAQ: RBB) will release its fourth-quarter financial results for the period ending December 31, 2022, on January 23, 2023, post-market. A conference call to discuss these results is scheduled for January 24, 2023, at 11:00 a.m. Pacific Time. Interested participants can join by dialing 1-888-506-0062 or listen via the live webcast on the Company's website. RBB Bancorp, headquartered in Los Angeles, California, reported total assets of $4.0 billion as of September 30, 2022, and operates through its subsidiary, Royal Business Bank, providing various financial services primarily to the Chinese-American communities across multiple states.
RBB Bancorp (NASDAQ: RBB) announced the appointment of Gary Fan as Executive Vice President and Chief Administrative Officer. In this role, he will oversee marketing, wealth management, and operations in key markets such as New York and Chicago. Mr. Fan brings extensive experience from Gateway Bank FSB and a fintech company, aiming to enhance RBB's offerings in digital banking and specialty banking. As of September 30, 2022, RBB Bancorp had total assets of $3.9 billion, focusing on the Asian-American community across multiple states.
RBB Bancorp (NASDAQ: RBB) received a Notice from Nasdaq on November 21, 2022, for failing to file its 2022 Q3 Form 10-Q by the November 9 deadline. The delay is due to the appointment of Crowe LLP as its new CPA, requiring time for Sarbanes-Oxley Act control reviews. While Nasdaq has granted RBB 60 days to submit a compliance plan, the company expects to regain compliance by December 15, 2022. The firm currently holds total assets of $3.9 billion as of September 30, 2022.
RBB Bancorp (NASDAQ:RBB) reported strong Q3 2022 results, with record net income of $16.7 million or $0.87 diluted EPS, up from $15.5 million in Q2 2022. Loans increased by $176.2 million (22.9% annualized), driving net interest income to a record $39.0 million. The efficiency ratio improved to 40.22%, and the ROA and ROE rose to 1.72% and 13.93%, respectively. A quarterly dividend of $0.14 per share was declared. However, noninterest income decreased due to lower gains from loan sales.
RBB Bancorp has elevated David Morris to President and Chief Executive Officer, effective immediately. Morris, who has been the Interim CEO since February 2022 and has 35 years of community banking experience, will also remain the Chief Financial Officer and join the Board of Directors. Shalom Chang will step into the role of Chief Accounting Officer. The company's Chairman emphasized Morris's leadership as crucial for maintaining high ethical standards and a commitment to community growth as RBB Bancorp aims to further serve Asian-American communities.
RBB Bancorp (NASDAQ: RBB) has declared a quarterly cash dividend of
RBB Bancorp (NASDAQ: RBB) will announce its third-quarter financial results for the period ending September 30, 2022, on October 24, 2022, after market close. A conference call will be held on October 25, 2022, at 11:00 AM PT to discuss the results. The company, headquartered in Los Angeles, had total assets of $4.0 billion as of June 30, 2022, with its subsidiary, Royal Business Bank, catering to various communities across California and other states. Interested parties can join the call via phone or webcast.
RBB Bancorp (NASDAQ:RBB) reported a net income of $15.5 million for Q2 2022, reflecting a 5.9% increase from Q1 and a 15.7% rise year-over-year. Diluted earnings per share rose to $0.80. Loans grew by $35.9 million or 4.8% annualized. The bank declared a $0.14 per share quarterly dividend. Noninterest income saw a 16.5% rise compared to Q1 but a decline from the previous year. Net interest income increased to $37.1 million, driven by higher interest rates. Nonperforming assets decreased, indicating an improvement in asset quality.
RBB Bancorp has declared a quarterly cash dividend of $0.14 per share, payable on August 12, 2022, to shareholders of record as of August 1, 2022. Additionally, the Board of Directors has approved a stock repurchase program allowing for the buyback of up to 500,000 shares, approximately 2.63% of outstanding shares. This program provides flexibility in how shares can be repurchased and can be modified or terminated based on market conditions and other factors.
FAQ
What is the current stock price of RBB (RBB)?
What is the market cap of RBB (RBB)?
What is the core business of RBB Bancorp?
Which subsidiary handles the primary banking operations?
What types of loans are offered by RBB Bancorp?
How does RBB Bancorp generate its revenue?
What role does trade finance play in RBB Bancorp's services?
How does the company differentiate itself from competitors?
What digital services are available to customers?
How does RBB Bancorp manage credit and operational risks?
