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 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.
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.