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.
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 record net income of $15.7 million or $0.79 diluted EPS for Q4 2021, marking a 2.2% increase from the previous quarter and a 40.9% rise year-over-year. Loans grew by $81.8 million (11.4% annualized), driven by commercial and construction loans. The Company announced its entry into the San Francisco Bay area through the acquisition of Gateway Bank. Noninterest income fell by $2.4 million due to a prior quarter grant. The efficiency ratio improved to 36.56%, and deposits increased by $417.7 million quarter-over-quarter.
RBB Bancorp (NASDAQ: RBB) announced the acquisition of the Honolulu branch of Bank of the Orient on January 14, 2022. The acquisition includes $81.7 million in deposits, approximately $7.4 million in selected loans, and an estimated premium of $3.0 million, totaling around $71.0 million. This strategic move aims to strengthen RBB's market presence in Hawaii and enhance its community banking services to Asian-American clients. The transaction has received all necessary regulatory approvals.
RBB Bancorp (NASDAQ: RBB) has declared a $0.14 quarterly cash dividend, payable on February 1, 2022, to shareholders of record as of January 31, 2022. The company reported total assets of $3.8 billion as of September 30, 2021. RBB Bancorp operates as a community-based financial holding company with services targeted at Asian-American communities across California, Nevada, New York, New Jersey, Illinois, and Hawaii. Its full-service subsidiary, Royal Business Bank, provides a range of banking and financial services.
RBB Bancorp (NASDAQ: RBB) will release its financial results for the fourth quarter ending December 31, 2021, after market close on January 24, 2022. A conference call is scheduled for January 25, 2022, at 11:00 a.m. PT to discuss these results. The company, headquartered in Los Angeles, had total assets of $3.8 billion as of September 30, 2021, and operates primarily through its subsidiary, Royal Business Bank, serving Asian-American communities across various California counties, Las Vegas, New York City, New Jersey, and Chicago.
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.