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RBB Bancorp reports recurring developments for a bank holding company whose subsidiaries include Royal Business Bank and RBB Asset Management Company. Company updates center on quarterly and annual earnings, net interest income, net interest margin, loan growth, deposits, asset yields, credit costs, classified and criticized loans, nonperforming assets, and book value metrics.
RBB news also covers capital return actions such as quarterly cash dividends and common stock repurchases, along with conference-call schedules tied to reported results. Its banking business includes deposit accounts, commercial and investor real estate loans, business lending, SBA loans, mortgage loans, trade finance, digital banking services, loan servicing and wealth management services.
RBB Bancorp (NASDAQ:RBB) reported a net income of $6.5 million for Q2 2020, maintaining a diluted EPS of $0.33, slightly down from $6.7 million in Q1 and $10.1 million in Q2 2019. Core loans grew over 18% on an annualized basis while the net interest margin increased to 3.42%. However, noninterest income fell to $2.2 million, down from $4.6 million in Q1, largely due to reduced loan sales amid the COVID-19 pandemic. The company's board declared a quarterly dividend of $0.06 per share, with plans to potentially increase it when business conditions improve.
RBB Bancorp (NASDAQ:RBB) declared a quarterly cash dividend of $0.06 per share, payable on August 17, 2020, to shareholders of record as of August 3, 2020. As of March 31, 2020, the company reported total assets of $3.1 billion. RBB Bancorp, headquartered in Los Angeles, serves the Chinese-American community through its subsidiaries, Royal Business Bank and RBB Asset Management Company, offering a wide range of business and financial services across multiple locations in California, New York, Nevada, and Illinois.
RBB Bancorp (NASDAQ: RBB) will disclose its second-quarter financial results on July 27, 2020, after market close. The management team will host a conference call on July 28, 2020, at 11:00 AM PT to discuss these results, with a replay available until August 4, 2020. As of March 31, 2020, RBB Bancorp managed total assets of $3.1 billion. The company serves the Chinese-American communities across multiple counties in California and New York, providing various banking and wealth management services.