RBB Bancorp Reports First Quarter 2026 Earnings and Declares Quarterly Cash Dividend of $0.16 Per Common Share
Rhea-AI Summary
RBB Bancorp (NASDAQ:RBB) reported first quarter 2026 net income of $11.3 million or $0.66 diluted EPS, with pre-tax pre-provision income of $15.5 million. Net interest margin widened to 3.15% and nonperforming assets fell 9% to $48.8 million. The Board declared a quarterly cash dividend of $0.16 per share, payable May 15, 2026 to holders of record April 30, 2026.
First quarter highlights also included book value per share of $31.10, a reversal of provision for credit losses of $0.2 million, and total assets of $4.2 billion.
Positive
- Net income of $11.3 million
- NIM expanded to 3.15% (up 16 bps QoQ)
- Pre-tax pre-provision income of $15.5 million (16% QoQ)
- Book value per share increased to $31.10
- Nonperforming assets decreased 9% to $48.8 million
Negative
- Effective tax rate rose to 28.0% in Q1 2026
- Net unrealized AFS losses increased $1.5 million QoQ
News Market Reaction – RBB
In the Apr 21 session, RBB gained 5.45%, reflecting a notable positive market reaction. Argus tracked a peak move of +3.5% during that session. Argus tracked a trough of -3.6% from its starting point during tracking. Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Dividends,earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jan 26 | Q4 & FY results | Positive | -0.7% | Reported stronger 2025 earnings and stable dividend with improving credit metrics. |
| Oct 20 | Q3 earnings | Positive | +6.8% | Q3 2025 earnings growth, NIM near 3% and continued $0.16 dividend. |
| Jul 21 | Q2 earnings | Positive | +4.0% | Q2 2025 EPS rebound, NIM expansion and lower nonperforming assets with dividend. |
| Oct 21 | Q3 2024 earnings | Positive | -1.8% | Q3 2024 results with stable EPS, higher NIM and recurring $0.16 dividend. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings-and-dividend releases have often led to meaningful moves, with a mixed record of alignment: two prior positive reactions and two mild selloffs despite generally constructive fundamentals.
Recent history shows RBB using quarterly earnings to highlight steady growth and credit improvement. In Q3 2024 and through 2025, the bank maintained a recurring $0.16 dividend while net income and net interest margin gradually improved and nonperforming assets trended lower. The current Q1 2026 report continues this pattern, with higher EPS, wider NIM and better asset quality, fitting into a multi-quarter narrative of profitability recovery and balance sheet strengthening.
Key Terms
net interest margin financial
nonperforming assets financial
loan to deposit ratio financial
efficiency ratio financial
allowance for credit losses financial
allowance for loan losses financial
other real estate owned financial
noninterest income financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
LOS ANGELES, April 20, 2026 (GLOBE NEWSWIRE) -- Los Angeles, CA, April 20, 2026 – RBB Bancorp (NASDAQ:RBB) and its subsidiaries, Royal Business Bank (the “Bank”) and RBB Asset Management Company (“RAM”), collectively referred to herein as the “Company,” announced financial results for the quarter ended March 31, 2026.
First Quarter 2026 Highlights
- Net income totaled
$11.3 million , or$0.66 diluted earnings per share - Pre-tax pre-provision income (1) totaled
$15.5 million , a16% increase compared to the prior quarter - Return on average assets of
1.09% , compared to0.96% for the prior quarter - Net interest margin increased to
3.15% , from2.99% for the prior quarter - Nonperforming assets decreased
9% , to$48.8 million at March 31, 2026, compared to prior quarter end - Book value and tangible book value per share(1) increased to
$31.10 and$26.84 at March 31, 2026, up from$30.69 and$26.42 at December 31, 2025
The Company reported net income of
“First quarter results represented a strong start to 2026, with higher net interest income, expanding margin and lower credit costs driving net income of
| (1) | Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures are included at the end of this press release. |
Net Interest Income and Net Interest Margin
Net interest income was
The net interest margin (“NIM”) increased 16 basis points to
The average total cost of funds decreased to
Provision for Credit Losses
The provision for credit losses was a
Noninterest Income
Noninterest income for the first quarter of 2026 was
Noninterest Expense
Noninterest expense for the first quarter of 2026 was
Income Taxes
The effective tax rate was
Balance Sheet
At March 31, 2026, total assets were
Loan and Securities Portfolio
Loans held for investment ("HFI") totaled
As of March 31, 2026, available for sale securities ("AFS") totaled
Deposits
Total deposits were
Credit Quality
Nonperforming assets totaled
Nonperforming loans (“NPLs”) remained stable at
Substandard loans totaled
Special mention loans totaled
30-89 day delinquent loans, excluding nonperforming loans, totaled
As of March 31, 2026, the allowance for credit losses totaled
| For the Three Months Ended March 31, 2026 | ||||||||||||
| (dollars in thousands) | Allowance for loan losses | Reserve for unfunded loan commitments | Allowance for credit losses | |||||||||
| Beginning balance | $ | 43,888 | $ | 484 | $ | 44,372 | ||||||
| Reversal of provision for credit losses | (200 | ) | — | (200 | ) | |||||||
| Less loans charged-off | (27 | ) | — | (27 | ) | |||||||
| Recoveries on loans charged-off | 5 | — | 5 | |||||||||
| Ending balance | $ | 43,666 | $ | 484 | $ | 44,150 | ||||||
Shareholders' Equity
At March 31, 2026, total shareholders' equity was
Dividend Announcement
The Board of Directors has declared a quarterly cash dividend of
Contact:
Lynn Hopkins, Chief Financial Officer
(213) 716-8066
lhopkins@rbbusa.com
Corporate Overview
RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California. As of March 31, 2026, the Company had total assets of
Conference Call
Management will hold a conference call at 11:00 a.m. Pacific time/2:00 p.m. Eastern time on Tuesday, April 21, 2026, to discuss the Company’s first quarter 2026 financial results.
To listen to the conference call, please dial 1-888-506-0062 or 1-973-528-0011, the Participant ID code is 715551, conference ID RBBQ126. A replay of the call will be made available at 1-877-481-4010 or 1-919-882-2331, the passcode is 53853, approximately one hour after the conclusion of the call and will remain available through May 5, 2026.
The conference call will also be simultaneously webcast over the Internet; please visit our Royal Business Bank website at www.royalbusinessbankusa.com and click on the “Investors” tab to access the call from the site. This webcast will be recorded and available for replay on our website approximately two hours after the conclusion of the conference call.
Disclosure
This press release contains certain non-GAAP financial disclosures, which the Company uses to provide meaningful supplemental information regarding the Company’s operational performance and to enhance investors’ overall understanding of such financial performance. Please refer to the tables at the end of this press release for a presentation of performance ratios in accordance with GAAP and a reconciliation of the non-GAAP financial measures to the GAAP financial measures.
Safe Harbor
Certain matters set forth herein (including the exhibits hereto) constitute forward-looking statements relating to the Company’s current business plans and expectations and our future financial position and operating results. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, business and economic conditions generally and in the financial services industry, nationally and within our current and future geographic markets, including the tight labor market, ineffective management of the United States (“U.S.”) federal budget or debt or turbulence or uncertainly in domestic or foreign financial markets; the strength of the U.S. economy in general and the strength of the local economies in which we conduct operations; adverse developments in the banking industry highlighted by high-profile bank failures and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments; federal government shutdowns and uncertainty regarding the federal government’s debt limit; possible additional provisions for credit losses and charge-offs; credit risks of lending activities and deterioration in asset or credit quality; extensive laws and regulations and supervision that we are subject to, including potential supervisory action by bank supervisory authorities; compliance with the Bank Secrecy Act and other money laundering statutes and regulations; potential goodwill impairment; liquidity risk; failure to comply with debt covenants; risks associated with acquisitions and the expansion of our business into new markets; inflation and deflation; real estate market conditions and the value of real estate collateral; the effects of having concentrations in our loan portfolio, including commercial real estate and the risks of geographic and industry concentrations; environmental liabilities; our ability to compete with larger competitors; our ability to retain key personnel; successful management of reputational risk; severe weather, natural disasters, earthquakes, fires, or other adverse external events could harm our business; geopolitical conditions, including acts or threats of terrorism, actions taken by the U.S. or other governments in response to acts or threats of terrorism and/or military conflicts, including the war between Russia and Ukraine, conflict in the Middle East, and increasing tensions between China and Taiwan, which could impact business and economic conditions in the U.S. and abroad; tariffs, trade policies, and related tensions, which could impact our clients, specific industry sectors, and/or broader economic conditions and financial market; public health crises and pandemics, and their effects on the economic and business environments in which we operate, including our credit quality and business operations, as well as the impact on general economic and financial market conditions; general economic or business conditions in Asia, and other regions where the Bank has operations; failures, interruptions, or security breaches of our information systems; climate change, including any enhanced regulatory, compliance, credit and reputational risks and costs; cybersecurity threats and the cost of defending against them; our ability to adapt our systems to the expanding use of technology in banking; risk management processes and strategies; the impact of regulatory enforcement actions, if any; certain provisions in our charter and bylaws that may affect acquisition of the Company; changes in tax laws and regulations; the impact of governmental efforts to restructure the U.S. financial regulatory system and increased costs of compliance and other risks associated with changes in regulation, including any amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act; the impact of changes in the Federal Deposit Insurance Corporation ("FDIC") insurance assessment rate and the rules and regulations related to the calculation of the FDIC insurance assessments; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the U.S. Securities and Exchange Commission ("SEC"), the Public Company Accounting Oversight Board, the Financial Accounting Standards Board (FASB) or other accounting standards setters; fluctuations in the Company’s stock price; restrictions on dividends and other distributions by laws and regulations and by our regulators and our capital structure; our ability to raise additional capital, if needed, and the potential resulting dilution of interests of holders of our common stock; the soundness of other financial institutions; our ongoing relations with our various federal and state regulators, including the SEC, FDIC, Federal Reserve Bank, California Department of Financial Protection and Innovation, and Consumer Financial Protection Bureau; our success at managing the risks involved in the foregoing items and all other factors set forth in the Company’s public reports, including its Annual Report as filed under Form 10-K for the year ended December 31, 2025, and particularly the discussion of risk factors within that document. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company’s earnings or shareholders, are for illustrative purposes only, are not forecasts, and actual results may differ.
| RBB BANCORP AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Dollars in thousands) | ||||||||||||||||||||
| March 31, | December 31, | September 30, | June 30, | March 31, | ||||||||||||||||
| 2026 | 2025 | 2025 | 2025 | 2025 | ||||||||||||||||
| Assets | ||||||||||||||||||||
| Cash and due from banks | $ | 23,893 | $ | 27,086 | $ | 24,251 | $ | 27,338 | $ | 25,315 | ||||||||||
| Interest-earning deposits with financial institutions | 173,017 | 185,231 | 210,679 | 164,514 | 213,508 | |||||||||||||||
| Cash and cash equivalents | 196,910 | 212,317 | 234,930 | 191,852 | 238,823 | |||||||||||||||
| Interest-earning time deposits with financial institutions | 600 | 600 | 600 | 600 | 600 | |||||||||||||||
| Investment securities available for sale | 415,789 | 407,204 | 410,631 | 413,142 | 378,188 | |||||||||||||||
| Investment securities held to maturity | 4,182 | 4,184 | 4,185 | 4,186 | 5,188 | |||||||||||||||
| Loans held for sale | — | 2,067 | 756 | — | 655 | |||||||||||||||
| Loans held for investment | 3,325,232 | 3,314,301 | 3,302,577 | 3,234,695 | 3,143,063 | |||||||||||||||
| Allowance for loan losses | (43,666 | ) | (43,888 | ) | (44,892 | ) | (51,014 | ) | (51,932 | ) | ||||||||||
| Net loans held for investment | 3,281,566 | 3,270,413 | 3,257,685 | 3,183,681 | 3,091,131 | |||||||||||||||
| Premises and equipment, net | 23,204 | 23,540 | 23,851 | 23,945 | 24,308 | |||||||||||||||
| Federal Home Loan Bank (FHLB) stock | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | |||||||||||||||
| Cash surrender value of bank owned life insurance | 62,403 | 61,972 | 61,538 | 61,111 | 60,699 | |||||||||||||||
| Goodwill | 71,498 | 71,498 | 71,498 | 71,498 | 71,498 | |||||||||||||||
| Servicing assets | 5,834 | 6,041 | 6,252 | 6,482 | 6,766 | |||||||||||||||
| Core deposit intangibles | 1,204 | 1,338 | 1,495 | 1,667 | 1,839 | |||||||||||||||
| Right-of-use assets | 22,601 | 23,026 | 24,305 | 25,554 | 26,779 | |||||||||||||||
| Accrued interest and other assets | 93,521 | 109,094 | 95,729 | 91,322 | 87,926 | |||||||||||||||
| Total assets | $ | 4,194,312 | $ | 4,208,294 | $ | 4,208,455 | $ | 4,090,040 | $ | 4,009,400 | ||||||||||
| Liabilities and shareholders' equity | ||||||||||||||||||||
| Deposits: | ||||||||||||||||||||
| Noninterest-bearing demand | $ | 526,882 | $ | 526,538 | $ | 550,488 | $ | 543,885 | $ | 528,205 | ||||||||||
| Savings, NOW and money market accounts | 1,175,735 | 956,299 | 721,697 | 691,679 | 721,216 | |||||||||||||||
| Time deposits, | 863,717 | 974,670 | 1,119,258 | 1,010,674 | 1,000,106 | |||||||||||||||
| Time deposits, greater than | 773,550 | 892,891 | 975,054 | 941,993 | 893,101 | |||||||||||||||
| Total deposits | 3,339,884 | 3,350,398 | 3,366,497 | 3,188,231 | 3,142,628 | |||||||||||||||
| FHLB advances | 130,000 | 130,000 | 130,000 | 180,000 | 160,000 | |||||||||||||||
| Long-term debt, net of issuance costs | 120,000 | 119,911 | 119,815 | 119,720 | 119,624 | |||||||||||||||
| Subordinated debentures | 15,429 | 15,375 | 15,320 | 15,265 | 15,211 | |||||||||||||||
| Lease liabilities - operating leases | 24,379 | 24,800 | 26,066 | 27,294 | 28,483 | |||||||||||||||
| Accrued interest and other liabilities | 33,566 | 44,400 | 36,422 | 41,877 | 33,148 | |||||||||||||||
| Total liabilities | 3,663,258 | 3,684,884 | 3,694,120 | 3,572,387 | 3,499,094 | |||||||||||||||
| Shareholders' equity: | ||||||||||||||||||||
| Common stock | 251,050 | 250,694 | 250,362 | 259,863 | 260,284 | |||||||||||||||
| Additional paid-in capital | 3,649 | 3,941 | 3,734 | 3,579 | 3,360 | |||||||||||||||
| Retained earnings | 290,566 | 282,024 | 274,608 | 270,152 | 263,885 | |||||||||||||||
| Non-controlling interest | 72 | 72 | 72 | 72 | 72 | |||||||||||||||
| Accumulated other comprehensive loss, net | (14,283 | ) | (13,321 | ) | (14,441 | ) | (16,013 | ) | (17,295 | ) | ||||||||||
| Total shareholders' equity | 531,054 | 523,410 | 514,335 | 517,653 | 510,306 | |||||||||||||||
| Total liabilities and shareholders’ equity | $ | 4,194,312 | $ | 4,208,294 | $ | 4,208,455 | $ | 4,090,040 | $ | 4,009,400 | ||||||||||
| RBB BANCORP AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (In thousands, except share and per share data) | ||||||||||||
| For the Three Months Ended | ||||||||||||
| March 31, 2026 | December 31, 2025 | March 31, 2025 | ||||||||||
| Interest and dividend income: | ||||||||||||
| Interest and fees on loans | $ | 49,938 | $ | 50,447 | $ | 45,621 | ||||||
| Interest on interest-earning deposits | 1,883 | 2,027 | 2,014 | |||||||||
| Interest on investment securities | 3,969 | 4,140 | 4,136 | |||||||||
| Dividend income on FHLB stock | 760 | 331 | 330 | |||||||||
| Interest on federal funds sold and other | 253 | 248 | 235 | |||||||||
| Total interest and dividend income | 56,803 | 57,193 | 52,336 | |||||||||
| Interest expense: | ||||||||||||
| Interest on savings deposits, NOW and money market accounts | 7,347 | 5,316 | 4,468 | |||||||||
| Interest on time deposits | 16,221 | 19,588 | 19,084 | |||||||||
| Interest on long-term debt and subordinated debentures | 1,599 | 1,623 | 1,632 | |||||||||
| Interest on FHLB advances | 1,133 | 1,158 | 989 | |||||||||
| Total interest expense | 26,300 | 27,685 | 26,173 | |||||||||
| Net interest income before provision for credit losses | 30,503 | 29,508 | 26,163 | |||||||||
| (Reversal of)/provision for credit losses | (200 | ) | 600 | 6,746 | ||||||||
| Net interest income after (reversal of)/provision for credit losses | 30,703 | 28,908 | 19,417 | |||||||||
| Noninterest income: | ||||||||||||
| Service charges and fees | 1,032 | 1,011 | 1,017 | |||||||||
| Gain on sale of loans | 324 | 457 | 81 | |||||||||
| Loan servicing fees, net of amortization | 504 | 556 | 588 | |||||||||
| Increase in cash surrender value of life insurance | 431 | 435 | 403 | |||||||||
| Gain on OREO | 890 | — | — | |||||||||
| Other income | 1,070 | 348 | 206 | |||||||||
| Total noninterest income | 4,251 | 2,807 | 2,295 | |||||||||
| Noninterest expense: | ||||||||||||
| Salaries and employee benefits | 11,261 | 10,733 | 10,643 | |||||||||
| Occupancy and equipment expenses | 2,511 | 2,435 | 2,407 | |||||||||
| Data processing | 1,708 | 1,750 | 1,602 | |||||||||
| Legal and professional | 1,503 | 1,601 | 1,515 | |||||||||
| Office expenses | 359 | 477 | 408 | |||||||||
| Marketing and business promotion | 215 | 202 | 197 | |||||||||
| Insurance and regulatory assessments | 749 | 753 | 730 | |||||||||
| Core deposit premium | 134 | 156 | 172 | |||||||||
| Other expenses | 818 | 858 | 848 | |||||||||
| Total noninterest expense | 19,258 | 18,965 | 18,522 | |||||||||
| Income before income taxes | 15,696 | 12,750 | 3,190 | |||||||||
| Income tax expense | 4,396 | 2,573 | 900 | |||||||||
| Net income | $ | 11,300 | $ | 10,177 | $ | 2,290 | ||||||
| Net income per share | ||||||||||||
| Basic | $ | 0.66 | $ | 0.60 | $ | 0.13 | ||||||
| Diluted | $ | 0.66 | $ | 0.59 | $ | 0.13 | ||||||
| Cash dividends declared per common share | $ | 0.16 | $ | 0.16 | $ | 0.16 | ||||||
| Weighted-average common shares outstanding | ||||||||||||
| Basic | 17,063,757 | 17,049,834 | 17,727,712 | |||||||||
| Diluted | 17,174,526 | 17,140,478 | 17,770,588 | |||||||||
| RBB BANCORP AND SUBSIDIARIES AVERAGE BALANCE SHEET AND NET INTEREST INCOME (Unaudited) | |||||||||||||||||||||||||||||||||
| For the Three Months Ended | |||||||||||||||||||||||||||||||||
| (tax-equivalent basis, dollars in thousands) | March 31, 2026 | December 31, 2025 | March 31, 2025 | ||||||||||||||||||||||||||||||
| Average | Interest | Yield / | Average | Interest | Yield / | Average | Interest | Yield / | |||||||||||||||||||||||||
| Balance | & Fees | Rate | Balance | & Fees | Rate | Balance | & Fees | Rate | |||||||||||||||||||||||||
| Interest-earning assets | |||||||||||||||||||||||||||||||||
| Cash and cash equivalents(1) | $ | 215,930 | $ | 2,136 | 4.01 | % | $ | 209,899 | $ | 2,275 | 4.30 | % | $ | 194,236 | $ | 2,249 | 4.70 | % | |||||||||||||||
| FHLB Stock | 15,000 | 760 | 20.55 | % | 15,000 | 331 | 8.75 | % | 15,000 | 330 | 8.92 | % | |||||||||||||||||||||
| Securities | |||||||||||||||||||||||||||||||||
| Available for sale(2) | 404,610 | 3,955 | 3.96 | % | 399,805 | 4,127 | 4.10 | % | 390,178 | 4,113 | 4.28 | % | |||||||||||||||||||||
| Held to maturity(2) | 4,183 | 38 | 3.68 | % | 4,184 | 38 | 3.60 | % | 5,189 | 49 | 3.83 | % | |||||||||||||||||||||
| Total loans(3) | 3,296,165 | 49,938 | 6.14 | % | 3,295,603 | 50,447 | 6.07 | % | 3,079,224 | 45,621 | 6.01 | % | |||||||||||||||||||||
| Total interest-earning assets | 3,935,888 | $ | 56,827 | 5.86 | % | 3,924,491 | $ | 57,218 | 5.78 | % | 3,683,827 | $ | 52,362 | 5.76 | % | ||||||||||||||||||
| Total noninterest-earning assets | 268,010 | 264,604 | 260,508 | ||||||||||||||||||||||||||||||
| Total average assets | $ | 4,203,898 | $ | 4,189,095 | $ | 3,944,335 | |||||||||||||||||||||||||||
| Interest-bearing liabilities | |||||||||||||||||||||||||||||||||
| NOW | $ | 73,637 | 398 | 2.19 | % | $ | 78,039 | $ | 456 | 2.32 | % | $ | 61,222 | $ | 321 | 2.13 | % | ||||||||||||||||
| Money market | 529,013 | 3,795 | 2.91 | % | 525,828 | 3,987 | 3.01 | % | 463,443 | 3,625 | 3.17 | % | |||||||||||||||||||||
| Savings deposits | 441,123 | 3,154 | 2.90 | % | 191,841 | 873 | 1.81 | % | 155,116 | 522 | 1.36 | % | |||||||||||||||||||||
| Time deposits, | 926,226 | 8,313 | 3.64 | % | 1,044,315 | 9,927 | 3.77 | % | 989,622 | 10,046 | 4.12 | % | |||||||||||||||||||||
| Time deposits, greater than | 845,786 | 7,908 | 3.79 | % | 972,354 | 9,661 | 3.94 | % | 864,804 | 9,038 | 4.24 | % | |||||||||||||||||||||
| Total interest-bearing deposits | 2,815,785 | 23,568 | 3.39 | % | 2,812,377 | 24,904 | 3.51 | % | 2,534,207 | 23,552 | 3.77 | % | |||||||||||||||||||||
| FHLB advances | 130,000 | 1,133 | 3.53 | % | 130,000 | 1,158 | 3.53 | % | 176,833 | 989 | 2.27 | % | |||||||||||||||||||||
| Long-term debt | 119,945 | 1,289 | 4.36 | % | 119,848 | 1,295 | 4.29 | % | 119,562 | 1,295 | 4.39 | % | |||||||||||||||||||||
| Subordinated debentures | 15,394 | 310 | 8.17 | % | 15,339 | 328 | 8.48 | % | 15,175 | 337 | 9.01 | % | |||||||||||||||||||||
| Total borrowings | 265,339 | 2,732 | 4.18 | % | 265,187 | 2,781 | 4.16 | % | 311,570 | 2,621 | 3.41 | % | |||||||||||||||||||||
| Total interest-bearing liabilities | 3,081,124 | 26,300 | 3.46 | % | 3,077,564 | 27,685 | 3.57 | % | 2,845,777 | 26,173 | 3.73 | % | |||||||||||||||||||||
| Noninterest-bearing liabilities | |||||||||||||||||||||||||||||||||
| Noninterest-bearing deposits | 526,151 | 531,017 | 520,145 | ||||||||||||||||||||||||||||||
| Other noninterest-bearing liabilities | 67,241 | 61,320 | 66,151 | ||||||||||||||||||||||||||||||
| Total noninterest-bearing liabilities | 593,392 | 592,337 | 586,296 | ||||||||||||||||||||||||||||||
| Shareholders' equity | 529,382 | 519,194 | 512,262 | ||||||||||||||||||||||||||||||
| Total liabilities and shareholders' equity | $ | 4,203,898 | $ | 4,189,095 | $ | 3,944,335 | |||||||||||||||||||||||||||
| Net interest income / interest rate spreads | $ | 30,527 | 2.40 | % | $ | 29,533 | 2.21 | % | $ | 26,189 | 2.03 | % | |||||||||||||||||||||
| Net interest margin | 3.15 | % | 2.99 | % | 2.88 | % | |||||||||||||||||||||||||||
| Total cost of deposits | $ | 3,341,936 | $ | 23,568 | 2.86 | % | $ | 3,343,394 | $ | 24,904 | 2.96 | % | $ | 3,054,352 | $ | 23,552 | 3.13 | % | |||||||||||||||
| Total cost of funds | $ | 3,607,275 | $ | 26,300 | 2.96 | % | $ | 3,608,581 | $ | 27,685 | 3.04 | % | $ | 3,365,922 | $ | 26,173 | 3.15 | % | |||||||||||||||
| ________________ | ||
| (1) | Includes income and average balances for interest-earning time deposits and other miscellaneous interest-earning assets. | |
| (2) | Interest income and average rates for tax-exempt securities are presented on a tax-equivalent basis. | |
| (3) | Average loan balances relate to loans held for investment and loans held for sale and include nonaccrual loans. Interest income on loans includes the effects of discount accretion and net deferred loan origination fees and costs accounted for as yield adjustments. | |
| RBB BANCORP AND SUBSIDIARIES SELECTED FINANCIAL HIGHLIGHTS (Unaudited) | ||||||||||||
| At or for the Three Months Ended | ||||||||||||
| March 31, | December 31, | March 31, | ||||||||||
| 2026 | 2025 | 2025 | ||||||||||
| Per share data (common stock) | ||||||||||||
| Book value | $ | 31.10 | $ | 30.69 | $ | 28.77 | ||||||
| Tangible book value(1) | $ | 26.84 | $ | 26.42 | $ | 24.63 | ||||||
| Performance ratios | ||||||||||||
| Return on average assets, annualized | 1.09 | % | 0.96 | % | 0.24 | % | ||||||
| Return on average shareholders' equity, annualized | 8.66 | % | 7.78 | % | 1.81 | % | ||||||
| Return on average tangible common equity, annualized(1) | 10.04 | % | 9.05 | % | 2.12 | % | ||||||
| Noninterest income to average assets, annualized | 0.41 | % | 0.27 | % | 0.24 | % | ||||||
| Noninterest expense to average assets, annualized | 1.86 | % | 1.80 | % | 1.90 | % | ||||||
| Yield on average earning assets | 5.86 | % | 5.78 | % | 5.76 | % | ||||||
| Yield on average loans | 6.14 | % | 6.07 | % | 6.01 | % | ||||||
| Cost of average total deposits(2) | 2.86 | % | 2.96 | % | 3.13 | % | ||||||
| Cost of average interest-bearing deposits | 3.39 | % | 3.51 | % | 3.77 | % | ||||||
| Cost of average interest-bearing liabilities | 3.46 | % | 3.57 | % | 3.73 | % | ||||||
| Net interest spread | 2.40 | % | 2.21 | % | 2.03 | % | ||||||
| Net interest margin | 3.15 | % | 2.99 | % | 2.88 | % | ||||||
| Efficiency ratio(3) | 55.41 | % | 58.69 | % | 65.09 | % | ||||||
| Common stock dividend payout ratio | 24.24 | % | 26.67 | % | 123.08 | % | ||||||
| ________________ | ||
| (1) | Non-GAAP measure. See Non–GAAP reconciliations set forth at the end of this press release. | |
| (2) | Total deposits include noninterest-bearing deposits and interest-bearing deposits. | |
| (3) | Ratio calculated by dividing noninterest expense by the sum of net interest income before (reversal of)/provision for credit losses and noninterest income. | |
| RBB BANCORP AND SUBSIDIARIES SELECTED FINANCIAL HIGHLIGHTS (Unaudited) (Dollars in thousands) | ||||||||||||
| At or for the quarter ended | ||||||||||||
| March 31, | December 31, | March 31, | ||||||||||
| 2026 | 2025 | 2025 | ||||||||||
| Credit Quality Data: | ||||||||||||
| Special mention loans | $ | 24,778 | $ | 19,237 | $ | 64,279 | ||||||
| Special mention loans to total loans HFI | 0.75 | % | 0.58 | % | 2.05 | % | ||||||
| Substandard loans HFI | $ | 72,494 | $ | 75,175 | $ | 76,372 | ||||||
| Substandard loans HFI to total loans HFI | 2.18 | % | 2.27 | % | 2.43 | % | ||||||
| Loans 30-89 days past due, excluding nonperforming loans | $ | 7,911 | $ | 8,789 | $ | 5,927 | ||||||
| Loans 30-89 days past due, excluding nonperforming loans, to total loans | 0.24 | % | 0.27 | % | 0.19 | % | ||||||
| Nonperforming loans HFI | $ | 44,568 | $ | 44,632 | $ | 60,380 | ||||||
| OREO | 4,268 | 8,830 | 4,170 | |||||||||
| Nonperforming assets | $ | 48,836 | $ | 53,462 | $ | 64,550 | ||||||
| Nonperforming loans to total loans HFI | 1.34 | % | 1.35 | % | 1.92 | % | ||||||
| Nonperforming assets to total assets | 1.16 | % | 1.27 | % | 1.61 | % | ||||||
| Allowance for loan losses | $ | 43,666 | $ | 43,888 | $ | 51,932 | ||||||
| Allowance for loan losses to total loans HFI | 1.31 | % | 1.32 | % | 1.65 | % | ||||||
| Allowance for loan losses to nonperforming loans HFI | 97.98 | % | 98.33 | % | 86.01 | % | ||||||
| Net charge-offs | $ | 22 | $ | 1,624 | $ | 2,643 | ||||||
| Net charge-offs to average loans | 0.00 | % | 0.20 | % | 0.35 | % | ||||||
| Capitalratios(1) | ||||||||||||
| Tangible common equity to tangible assets(2) | 11.12 | % | 10.90 | % | 11.10 | % | ||||||
| Tier 1 leverage ratio | 11.77 | % | 11.60 | % | 12.07 | % | ||||||
| Tier 1 common capital to risk-weighted assets | 17.85 | % | 17.49 | % | 17.87 | % | ||||||
| Tier 1 capital to risk-weighted assets | 18.41 | % | 18.06 | % | 18.45 | % | ||||||
| Total capital to risk-weighted assets | 24.20 | % | 23.83 | % | 24.42 | % | ||||||
| ________________ | ||
| (1) | March 31, 2026 capital ratios are preliminary. | |
| (2) | Non-GAAP measure. See non-GAAP reconciliations set forth at the end of this press release. | |
| RBB BANCORP AND SUBSIDIARIES SELECTED FINANCIAL HIGHLIGHTS (Unaudited) | |||||||||||||||||||||
| Loan Portfolio Detail | As of March 31, 2026 | As of December 31, 2025 | As of March 31, 2025 | ||||||||||||||||||
| (dollars in thousands) | $ | % | $ | % | $ | % | |||||||||||||||
| Loans: | |||||||||||||||||||||
| Single-family residential mortgages | $ | 1,682,728 | 50.6 | % | $ | 1,655,382 | 50.0 | % | $ | 1,545,822 | 49.2 | % | |||||||||
| Commercial real estate(1) | 1,274,105 | 38.3 | % | 1,303,019 | 39.3 | % | 1,245,402 | 39.6 | % | ||||||||||||
| Construction and land development | 159,292 | 4.8 | % | 155,464 | 4.7 | % | 158,883 | 5.1 | % | ||||||||||||
| Commercial and industrial | 152,911 | 4.6 | % | 140,061 | 4.2 | % | 135,538 | 4.3 | % | ||||||||||||
| SBA | 52,279 | 1.6 | % | 55,978 | 1.7 | % | 50,651 | 1.6 | % | ||||||||||||
| Other loans | 3,917 | 0.1 | % | 4,397 | 0.1 | % | 6,767 | 0.2 | % | ||||||||||||
| Total loans held for investment | $ | 3,325,232 | 100.0 | % | $ | 3,314,301 | 100.0 | % | $ | 3,143,063 | 100.0 | % | |||||||||
| Allowance for loan losses | (43,666 | ) | (43,888 | ) | (51,932 | ) | |||||||||||||||
| Total loans held for investment, net | $ | 3,281,566 | $ | 3,270,413 | $ | 3,091,131 | |||||||||||||||
| ________________ | ||
| (1) | Includes non-farm and non-residential loans, multi-family residential loans and non-owner occupied single family residential loans. | |
| Deposits | As of March 31, 2026 | As of December 31, 2025 | As of March 31, 2025 | |||||||||||||||||
| (dollars in thousands) | $ | % | $ | % | $ | % | ||||||||||||||
| Deposits: | ||||||||||||||||||||
| Noninterest-bearing demand | $ | 526,882 | 15.8 | % | $ | 526,538 | 15.7 | % | $ | 528,205 | 16.8 | % | ||||||||
| Savings, NOW and money market accounts | 1,175,735 | 35.2 | % | 956,299 | 28.6 | % | 721,216 | 22.9 | % | |||||||||||
| Time deposits, | 740,429 | 22.2 | % | 790,225 | 23.6 | % | 863,962 | 27.5 | % | |||||||||||
| Time deposits, greater than | 733,046 | 21.9 | % | 851,637 | 25.4 | % | 870,708 | 27.8 | % | |||||||||||
| Wholesale deposits(1) | 163,792 | 4.9 | % | 225,699 | 6.7 | % | 158,537 | 5.0 | % | |||||||||||
| Total deposits | $ | 3,339,884 | 100.0 | % | $ | 3,350,398 | 100.0 | % | $ | 3,142,628 | 100.0 | % | ||||||||
| (1) | Includes brokered deposits, collateralized deposits from the State of California, and deposits acquired through internet listing services. |
Non-GAAP Reconciliations
Tangible Book Value Reconciliations
Tangible book value per share is a non-GAAP disclosure. Management measures tangible book value per share to assess the Company’s capital strength and business performance and believes this is helpful to investors as additional tools for further understanding our performance. The following is a reconciliation of tangible book value to the Company shareholders’ equity computed in accordance with GAAP, as well as a calculation of tangible book value per share as of the dates indicated.
| (dollars in thousands, except share and per share data) | March 31, 2026 | December 31, 2025 | March 31, 2025 | |||||||||
| Tangible common equity: | ||||||||||||
| Total shareholders' equity | $ | 531,054 | $ | 523,410 | $ | 510,306 | ||||||
| Adjustments | ||||||||||||
| Goodwill | (71,498 | ) | (71,498 | ) | (71,498 | ) | ||||||
| Core deposit intangible | (1,204 | ) | (1,338 | ) | (1,839 | ) | ||||||
| Tangible common equity | $ | 458,352 | $ | 450,574 | $ | 436,969 | ||||||
| Tangible assets: | ||||||||||||
| Total assets-GAAP | $ | 4,194,312 | $ | 4,208,294 | $ | 4,009,400 | ||||||
| Adjustments | ||||||||||||
| Goodwill | (71,498 | ) | (71,498 | ) | (71,498 | ) | ||||||
| Core deposit intangible | (1,204 | ) | (1,338 | ) | (1,839 | ) | ||||||
| Tangible assets | $ | 4,121,610 | $ | 4,135,458 | $ | 3,936,063 | ||||||
| Common shares outstanding | 17,074,159 | 17,057,397 | 17,738,628 | |||||||||
| Common equity to assets ratio | 12.66 | % | 12.44 | % | 12.73 | % | ||||||
| Tangible common equity to tangible assets ratio | 11.12 | % | 10.90 | % | 11.10 | % | ||||||
| Book value per share | $ | 31.10 | $ | 30.69 | $ | 28.77 | ||||||
| Tangible book value per share | $ | 26.84 | $ | 26.42 | $ | 24.63 | ||||||
Return on Average Tangible Common Equity
Management measures return on average tangible common equity (“ROATCE”) to assess the Company’s capital strength and business performance and believes this is helpful to investors as an additional tool for further understanding our performance. Tangible equity excludes goodwill and other intangible assets (excluding mortgage servicing rights) and is reviewed by banking and financial institution regulators when assessing a financial institution’s capital adequacy. This non-GAAP financial measure should not be considered a substitute for operating results determined in accordance with GAAP and may not be comparable to other similarly titled measures used by other companies. The following table reconciles ROATCE to its most comparable GAAP measure:
| Three Months Ended | ||||||||||||
| (dollars in thousands) | March 31, 2026 | December 31, 2025 | March 31, 2025 | |||||||||
| Net income available to common shareholders | $ | 11,300 | $ | 10,177 | $ | 2,290 | ||||||
| Average shareholders' equity | 529,382 | 519,194 | 512,262 | |||||||||
| Adjustments: | ||||||||||||
| Average goodwill | (71,498 | ) | (71,498 | ) | (71,498 | ) | ||||||
| Average core deposit intangible | (1,288 | ) | (1,440 | ) | (1,951 | ) | ||||||
| Adjusted average tangible common equity | $ | 456,596 | $ | 446,256 | $ | 438,813 | ||||||
| Return on average common equity, annualized | 8.66 | % | 7.78 | % | 1.81 | % | ||||||
| Return on average tangible common equity, annualized | 10.04 | % | 9.05 | % | 2.12 | % | ||||||
Pre-Tax Pre-Provision Income
Management believes that pre-tax pre-provision (“PTPP”) income is a useful measure for investors to evaluate core operating performance, excluding the volatility of credit provision expenses. PTPP income is calculated by subtracting noninterest expense from the sum of net interest income and noninterest income, as shown in the following table.
| Three Months Ended | ||||||||||||
| (dollars in thousands) | March 31, 2026 | December 31, 2025 | March 31, 2025 | |||||||||
| Net interest income before provision for credit losses | $ | 30,503 | $ | 29,508 | $ | 26,163 | ||||||
| Add: Noninterest income | 4,251 | 2,807 | 2,295 | |||||||||
| Less: Noninterest expense | (19,258 | ) | (18,965 | ) | (18,522 | ) | ||||||
| Pre-tax pre-provision income | $ | 15,496 | $ | 13,350 | $ | 9,936 | ||||||
