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About RBB Bancorp
RBB Bancorp (NASDAQ: RBB) is a California-based bank holding company that operates through its wholly-owned subsidiaries, including Royal Business Bank and RBB Asset Management Company. The company is primarily focused on providing comprehensive commercial banking services to businesses, entrepreneurs, and individuals, with a particular emphasis on serving the Asian-American community and facilitating cross-border trade between the United States and Asia.
Core Business Operations
RBB Bancorp’s banking operations are anchored by its flagship subsidiary, Royal Business Bank, a California state-chartered commercial bank. The bank specializes in offering a robust suite of financial products and services tailored to meet the needs of its diverse clientele. These include:
- Commercial Real Estate Loans: Financing solutions for investors and developers in the real estate sector.
- Commercial and Industrial Loans: Secured lending options designed to support business growth and operations.
- Trade Finance Services: Specialized financial solutions for companies engaged in international trade, particularly between the U.S., China, Taiwan, and other Asian markets.
- Non-Qualified Single-Family Residential Mortgage Loans: Mortgage solutions for unique borrower profiles.
- Small Business Administration (SBA) Loans: SBA 7(a) and 504 loans to support small business development.
In addition to its lending services, the bank provides a comprehensive range of depository products, including checking accounts, savings accounts, money market accounts, and certificates of deposit. It also offers modern banking conveniences such as remote deposit capture, e-banking, and mobile banking solutions.
Revenue Streams
RBB Bancorp generates revenue primarily through interest income derived from loans and leases, as well as investment securities. Noninterest income serves as a secondary revenue source, encompassing fees from lending and deposit services, loan servicing income, gains on loan sales, and wealth management services. This diversified income model underscores the bank’s ability to balance traditional banking operations with value-added financial services.
Market Focus and Differentiation
One of RBB Bancorp’s defining characteristics is its strategic focus on serving the Asian-American community and businesses involved in cross-border trade. By leveraging its deep understanding of this niche market, the bank has positioned itself as a trusted financial partner for clients navigating the complexities of international commerce. Its expertise in trade finance and specialized loan products sets it apart from competitors, enabling it to address the unique financial needs of its target audience.
Competitive Landscape
Operating in the competitive commercial banking sector, RBB Bancorp faces challenges such as interest rate volatility, credit risk, and stringent regulatory requirements. However, its niche focus and strong community ties provide a competitive edge. The bank competes with both regional banks and larger financial institutions, differentiating itself through personalized service, cultural insight, and a specialized product portfolio.
Commitment to Excellence
With a commitment to delivering tailored financial solutions and fostering long-term client relationships, RBB Bancorp continues to play a vital role in supporting the financial needs of its community. Its emphasis on trade finance and commercial lending underscores its pivotal role in facilitating economic growth and cross-border commerce.
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.
RBB Bancorp (NASDAQ: RBB) announced the election of James Kao, Ph.D., as Chairman of the Board, effective May 19, 2021. Dr. Kao has over 40 years of business experience and has been on the Company's Board since 2015. Yee Phong (Alan) Thian remains a director after serving as the previous Chairman. The separation of the Chairman and CEO roles aims to enhance corporate governance and facilitate the Bank's growth strategy. RBB Bancorp is a community-based financial holding company with total assets of $3.7 billion as of March 31, 2021.
RBB Bancorp (NASDAQ:RBB) reported record net income of $12.5 million or $0.63 diluted EPS for Q1 2021, marking an increase from $11.1 million or $0.56 EPS in Q4 2020. The bank benefited from a growing economy with increases in net interest income to $29.5 million, up from $28.9 million in the previous quarter. Noninterest income rose to $5.9 million, driven by loan sales. Deposits reached $2.8 billion, exhibiting organic growth. However, noninterest expenses increased to $15.8 million from $14.5 million in Q4 2020.
RBB Bancorp (NASDAQ: RBB) has declared a quarterly cash dividend of $0.13 per share, payable on May 14, 2021. Shareholders of record as of May 7, 2021 will receive this dividend. Additionally, the Board has adopted a stock repurchase program that allows the company to buy back up to 500,000 shares, representing about 2.56% of its outstanding shares. This move is seen as a sign of confidence in the company's future prospects and aims to enhance shareholder value.
RBB Bancorp (NASDAQ: RBB) is set to release its financial results for the first quarter ending March 31, 2021, after market close on April 26, 2021. A conference call is scheduled for April 27, 2021, at 11:00 a.m. Pacific Time to discuss these results. Interested parties can participate via phone or listen to a live webcast on the company's website. As of December 31, 2020, RBB Bancorp had total assets of $3.4 billion and operates multiple branches across California, New York, New Jersey, Nevada, and Illinois, providing a variety of banking services.
RBB Bancorp (NASDAQ: RBB) has completed the redemption of all outstanding 6.5% Fixed-to-Floating Subordinated Notes due March 31, 2026, as of March 31, 2021. The redemption price corresponds to 100% of the principal amount plus any accrued interest. Holders of the Notes received notification of the redemption details, with payments processed through RBB and the Depositary Trust Company. As of December 31, 2020, RBB Bancorp had total assets of $3.4 billion and operates as a community-based financial holding company in multiple locations across California, Nevada, New York, New Jersey, and Illinois.
RBB Bancorp (NASDAQ: RBB) has successfully completed its underwritten offering of $120 million in 4.00% Fixed-to-Floating Rate Subordinated Notes due 2031. The offering yielded net proceeds of approximately $118.1 million after discounts and expenses. Janney Montgomery Scott LLC served as the lead manager, with Hovde Group and Stephens Inc. as co-managers. The offering was registered under the Securities Act of 1933. This financing aims to bolster RBB's capital structure, enhancing its ability to serve its communities across multiple states.
RBB Bancorp (NASDAQ: RBB) has announced a public offering of $120 million in 4.00% fixed-to-floating subordinated notes, set to close on March 26, 2021. The notes will initially yield 4.00% until April 2026, after which the rate will adjust to a benchmark rate plus 329 basis points. Proceeds, estimated at $118.5 million post-expenses, will be used to redeem existing subordinated notes and for general corporate purposes, including growth initiatives and regulatory capital investments. Janney Montgomery Scott LLC leads the offering.
RBB Bancorp (NASDAQ:RBB) reported a net income of $11.1 million, or $0.56 EPS, for Q4 2020, an increase from $8.5 million in Q4 2019. Net interest income rose to $28.9 million, boosted by higher earning assets, while net interest margin improved to 3.67%. Noninterest income reached $4.5 million, up from $2.7 million in Q3 2020, driven by a $1.7 million gain on loan sales. The company declared a quarterly dividend of $0.12 per share. However, loans held for investment decreased by $48.4 million from Q3 2020, partly due to increased loan payoffs, signaling potential challenges ahead.
RBB Bancorp (NASDAQ: RBB) has declared a quarterly cash dividend of $0.12 per share, payable on February 12, 2021, to shareholders of record as of February 1, 2021. The company, headquartered in Los Angeles, has total assets of $3.4 billion as of September 30, 2020. RBB operates through its subsidiary, Royal Business Bank, offering various banking services primarily to the Chinese-American communities in several U.S. locations.
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