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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) announced the appointment of Co-Founder Simon Pang to the President's Advisory Commission on Asian Americans, Native Hawaiians, and Pacific Islanders. As part of a group of 24 members, Pang will advise on policies addressing anti-Asian violence and other community barriers. RBB, a Los Angeles-based financial holding company with total assets of $3.8 billion as of September 30, 2021, offers various banking services focused on Asian-American communities across multiple states.
RBB Bancorp (NASDAQ: RBB) has agreed to acquire Gateway Bank in a cash transaction valued at approximately $22.9 million. Gateway Bank, based in Oakland, California, has total assets of $172.4 million and serves the Asian-American community. The acquisition aims to support RBB's expansion into the San Francisco Bay Area, enhancing its presence in one of the largest Asian-American markets in the U.S. The deal is expected to be accretive to earnings per share in mid-2022, though a tangible book value dilution of about 1.8% is anticipated, with a payback period of around 1.8 years.
RBB Bancorp (NASDAQ:RBB) reported a record net income of $15.4 million for Q3 2021, translating to $0.77 diluted EPS, an increase of 14.8% from Q2 2021 and 80.3% year-over-year. Loan growth stood at $137.1 million, or 20.0% annualized. The bank declared a quarterly cash dividend of $0.13 per share and received a $1.8 million CDFI grant to support community development in response to the COVID-19 pandemic. The conference call is scheduled for October 26, 2021.
RBB Bancorp (NASDAQ: RBB) has declared a quarterly cash dividend of $0.13 per share, payable on November 12, 2021, to shareholders of record as of November 1, 2021. As of June 30, 2021, RBB Bancorp's total assets stood at $3.9 billion. The company operates through its subsidiary, Royal Business Bank, focusing on business banking services for the Chinese-American community across multiple counties in California and select locations in New York, New Jersey, and Nevada.
RBB Bancorp (NASDAQ: RBB) will release its third-quarter financial results on October 25, 2021, after market close. The conference call to discuss these results is scheduled for October 26, 2021, at 11:00 a.m. PT. As of June 30, 2021, RBB Bancorp had total assets of $3.9 billion. The company, providing banking services primarily to Chinese-American communities, operates multiple branches across California, Nevada, New York, New Jersey, and Illinois.
RBB Bancorp (NASDAQ:RBB) announced the appointment of President and CEO Yee Phong (Alan) Thian to the Advisory Board of the U.S. Treasury's Community Development Financial Institutions Fund. As one of nine community development leaders selected, Mr. Thian will advise on policies to support economically distressed communities. RBB Bancorp, headquartered in Los Angeles, has total assets of $3.9 billion as of June 30, 2021, and provides banking services primarily to Chinese-American communities across several regions in California and beyond.
RBB Bancorp (NASDAQ:RBB) reported record net income of $13.4 million, or $0.67 diluted EPS for Q2 2021, up from $12.5 million and $0.63 EPS in Q1 2021. Total deposits rose to $3.1 billion, a $248.6 million increase from Q1 2021. However, net interest margin declined to 3.33% from 3.73%, primarily due to higher liquidity. Noninterest income decreased by $1.7 million to $4.2 million. The Company remains focused on growth, supported by the recent acquisition of a Hawaiian branch, and anticipates future strategic opportunities.
RBB Bancorp (NASDAQ: RBB) declared a quarterly cash dividend of $0.13 per share, payable on August 13, 2021, to shareholders of record as of August 2, 2021. As of March 31, 2021, RBB Bancorp reported total assets of $3.7 billion. The company, headquartered in Los Angeles, primarily serves Chinese-American communities in California and select areas in New York, New Jersey, and Illinois, offering various banking services including commercial loans and wealth management.
RBB Bancorp (NASDAQ: RBB) is set to release its second quarter financial results for the period ending June 30, 2021, on July 26, 2021, after market close. A conference call is scheduled for July 27, 2021, at 11:00 a.m. PT to discuss the results. The Company, headquartered in Los Angeles, has total assets of $3.7 billion as of March 31, 2021, and serves primarily the Chinese-American communities across various locations in California, Nevada, New York, New Jersey, and Illinois, offering a range of banking services.
RBB Bancorp (NASDAQ: RBB) has agreed to acquire the Honolulu branch of Bank of the Orient for $2.8 million. The deal includes approximately $77.8 million in deposits and $10 million in selected loans, with expectations to close by December 31, 2021. President Alan Thian emphasized that this move will strengthen RBB's presence in Asian-American communities. The bank aims to ensure a smooth transition and integration, leveraging experience from past acquisitions. As of March 31, 2021, RBB had total assets of $3.7 billion.
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