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) 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.
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.