RBB Stock Price, News & Analysis

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.

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.