RBB Bancorp Reports Second Quarter 2025 Earnings and Declares Quarterly Cash Dividend of $0.16 Per Common Share
RBB Bancorp (NASDAQ:RBB) reported Q2 2025 net income of $9.3 million, or $0.52 diluted earnings per share, compared to $2.3 million in Q1 2025. The bank's performance was boosted by a $5.2 million Employee Retention Credit, partially offset by $1.2 million in advisory costs.
Key metrics include net interest margin expansion to 2.92%, net loan growth of $91.6 million (12% annualized), and a decrease in nonperforming assets to $61.0 million. The bank's efficiency ratio improved to 57.2% from 65.1% in Q1. Total assets reached $4.1 billion, with loans held for investment at $3.2 billion.
The Board declared a quarterly cash dividend of $0.16 per share, payable on August 12, 2025, to shareholders of record on July 31, 2025.
RBB Bancorp (NASDAQ:RBB) ha riportato un utile netto di 9,3 milioni di dollari nel secondo trimestre del 2025, pari a un utile diluito per azione di 0,52 dollari, rispetto ai 2,3 milioni di dollari del primo trimestre 2025. La performance della banca è stata sostenuta da un credito per la retention dei dipendenti di 5,2 milioni di dollari, parzialmente compensato da costi di consulenza per 1,2 milioni di dollari.
I principali indicatori includono un margine di interesse netto in aumento al 2,92%, una crescita netta dei prestiti di 91,6 milioni di dollari (12% su base annua) e una diminuzione degli attivi deteriorati a 61,0 milioni di dollari. Il rapporto di efficienza della banca è migliorato al 57,2% rispetto al 65,1% del primo trimestre. Gli attivi totali hanno raggiunto 4,1 miliardi di dollari, con prestiti detenuti per investimento pari a 3,2 miliardi di dollari.
Il Consiglio di Amministrazione ha dichiarato un dividendo trimestrale in contanti di 0,16 dollari per azione, pagabile il 12 agosto 2025 agli azionisti registrati al 31 luglio 2025.
RBB Bancorp (NASDAQ:RBB) reportó un ingreso neto de 9,3 millones de dólares en el segundo trimestre de 2025, o 0,52 dólares por acción diluida, en comparación con 2,3 millones en el primer trimestre de 2025. El desempeño del banco se vio impulsado por un crédito de retención de empleados de 5,2 millones de dólares, parcialmente compensado por costos de asesoría de 1,2 millones de dólares.
Las métricas clave incluyen una expansión del margen de interés neto al 2,92%, un crecimiento neto de préstamos de 91,6 millones de dólares (12% anualizado) y una disminución de activos improductivos a 61,0 millones de dólares. El índice de eficiencia del banco mejoró a 57,2% desde 65,1% en el primer trimestre. Los activos totales alcanzaron los 4,1 mil millones de dólares, con préstamos mantenidos para inversión por 3,2 mil millones.
La Junta declaró un dividendo trimestral en efectivo de 0,16 dólares por acción, pagadero el 12 de agosto de 2025 a los accionistas registrados al 31 de julio de 2025.
RBB Bancorp (NASDAQ:RBB)는 2025년 2분기 순이익으로 930만 달러, 희석 주당순이익 0.52달러를 보고했으며, 이는 2025년 1분기의 230만 달러에 비해 증가한 수치입니다. 은행의 실적은 520만 달러의 직원 유지 세액 공제에 힘입었으며, 120만 달러의 자문 비용이 일부 상쇄했습니다.
주요 지표로는 순이자마진이 2.92%로 확대되었고, 순대출은 9,160만 달러(연율 12%) 증가했으며, 부실자산은 6,100만 달러로 감소했습니다. 은행의 효율성 비율은 1분기의 65.1%에서 57.2%로 개선되었습니다. 총 자산은 41억 달러에 달했으며, 투자용 대출은 32억 달러입니다.
이사회는 2025년 8월 12일에 지급될 주당 0.16달러 분기 현금 배당금을 선언했으며, 2025년 7월 31일 기준 주주에게 지급됩니다.
RBB Bancorp (NASDAQ:RBB) a annoncé un bénéfice net au deuxième trimestre 2025 de 9,3 millions de dollars, soit un bénéfice dilué par action de 0,52 dollar, contre 2,3 millions au premier trimestre 2025. La performance de la banque a été soutenue par un crédit de rétention des employés de 5,2 millions de dollars, partiellement compensé par des frais de conseil de 1,2 million de dollars.
Les indicateurs clés comprennent une expansion de la marge d'intérêt nette à 2,92%, une croissance nette des prêts de 91,6 millions de dollars (12% annualisé) et une diminution des actifs non performants à 61,0 millions de dollars. Le ratio d'efficacité de la banque s'est amélioré à 57,2% contre 65,1% au premier trimestre. Le total des actifs a atteint 4,1 milliards de dollars, avec des prêts détenus pour investissement à hauteur de 3,2 milliards de dollars.
Le conseil d'administration a déclaré un dividende trimestriel en espèces de 0,16 dollar par action, payable le 12 août 2025 aux actionnaires inscrits au 31 juillet 2025.
RBB Bancorp (NASDAQ:RBB) meldete für das zweite Quartal 2025 einen Nettogewinn von 9,3 Millionen US-Dollar bzw. 0,52 US-Dollar verwässertes Ergebnis je Aktie, verglichen mit 2,3 Millionen US-Dollar im ersten Quartal 2025. Die Leistung der Bank wurde durch einen Mitarbeiterbindungszuschuss von 5,2 Millionen US-Dollar gestärkt, teilweise ausgeglichen durch Beratungskosten in Höhe von 1,2 Millionen US-Dollar.
Wichtige Kennzahlen umfassen eine Ausweitung der Nettozinsmarge auf 2,92%, ein Netto-Darlehenswachstum von 91,6 Millionen US-Dollar (annualisiert 12 %) und eine Verringerung notleidender Vermögenswerte auf 61,0 Millionen US-Dollar. Die Effizienzquote der Bank verbesserte sich von 65,1 % im ersten Quartal auf 57,2 %. Die Gesamtaktiva erreichten 4,1 Milliarden US-Dollar, wobei die für Investitionen gehaltenen Kredite 3,2 Milliarden US-Dollar betrugen.
Der Vorstand erklärte eine vierteljährliche Bardividende von 0,16 US-Dollar je Aktie, zahlbar am 12. August 2025 an die Aktionäre, die am 31. Juli 2025 eingetragen sind.
- Net income increased significantly to $9.3 million from $2.3 million in Q1 2025
- Net interest margin expanded to 2.92%, up from 2.88% in Q1 2025
- Strong loan growth of $91.6 million (12% annualized)
- Nonperforming assets decreased by $3.6 million to $61.0 million
- Received $5.2 million Employee Retention Credit
- Book value and tangible book value per share increased to $29.25 and $25.11
- Elevated nonperforming assets at 1.49% of total assets
- Special mention loans increased by $27.0 million to $91.3 million
- Substandard loans rose by $14.6 million to $91.0 million
- 30-89 day delinquent loans increased to $18.0 million from $5.9 million in Q1
- Net charge-offs increased to 0.42% of average loans compared to 0.35% in Q1
Insights
RBB Bancorp reported significant Q2 improvement with $9.3M net income, aided by one-time ERC benefit and improving credit metrics.
RBB Bancorp's second quarter results show notable improvement with net income of $9.3 million ($0.52 per diluted share), a substantial increase from $2.3 million ($0.13 per share) in Q1 2025. This improvement was driven by two key factors: a $5.2 million one-time Employee Retention Credit (ERC) and strengthening core banking fundamentals.
The bank's net interest margin expanded to 2.92% from 2.88% in the previous quarter, reflecting improved asset yields and slightly lower funding costs. This expansion came from a 3 basis point increase in interest-earning asset yields to 5.79% and a 1 basis point decrease in funding costs to 3.14%. The primary driver was loan yield improvement to 6.03%, up 2 basis points from Q1.
Loan growth was robust at $91.6 million (12% annualized pace), primarily in single-family residential (+$57.3M) and commercial real estate (+$28.0M) segments. New loan production of $182.8 million carried an attractive 6.76% average yield, supporting margin expansion.
Credit quality showed meaningful improvement with nonperforming assets decreasing by $3.6 million (5.5%) to $61.0 million, or 1.49% of total assets. The bank reduced its provision for credit losses to $2.4 million from $6.7 million in Q1, reflecting more stable asset quality despite an increase in special mention loans to $91.3 million (2.82% of total loans) from $64.3 million (2.05%) in Q1.
The efficiency ratio improved to 57.2% from 65.1% in Q1, though this was largely driven by the one-time ERC income. Book value per share increased to $29.25 from $28.77 in the prior quarter, demonstrating continued capital accumulation despite paying a $0.16 quarterly dividend.
While core results are improving, investors should note the substantial impact of the one-time $5.2 million ERC benefit, which accounted for over half of the quarterly net income. Excluding this and related expenses, the underlying earnings improvement was more modest but still positive, with expanding margins and controlled credit costs.
LOS ANGELES, July 21, 2025 (GLOBE NEWSWIRE) -- 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 June 30, 2025.
Second Quarter 2025 Highlights
- Net income totaled
$9.3 million , or$0.52 diluted earnings per share - Return on average assets of
0.93% , compared to0.24% for the quarter ended March 31, 2025 - Net interest margin expanded to
2.92% , up from2.88% for the quarter ended March 31, 2025 - Net loans held for investment growth of
$91.6 million , or12% annualized - Nonperforming assets decreased
$3.6 million , or5.5% , to$61.0 million at June 30, 2025, down from$64.6 million at March 31, 2025 - Book value and tangible book value per share(1) increased to
$29.25 and$25.11 at June 30, 2025, up from$28.77 and$24.63 at March 31, 2025
The Company reported net income of
“Another quarter of strong loan growth and stable loan yields drove increasing net interest income and margin expansion in the second quarter,” said Johnny Lee, President and Chief Executive Officer of RBB Bancorp. “We also benefited from the receipt of a
| (1 | ) | Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures included at the end of this press release. |
Net Interest Income and Net Interest Margin
Net interest income was
The net interest margin (“NIM”) was
The average cost of funds decreased to
Provision for Credit Losses
The provision for credit losses was
Noninterest Income
Noninterest income for the second quarter of 2025 was
Upon receipt of the ERC funds, certain professional and tax advisory costs associated with the assessment and compilation of the ERC refunds became due and payable. These amounts totaled
The second quarter of 2025 also included a higher gain on sale of loans of
Noninterest Expense
Noninterest expense for the second quarter of 2025 was
Income Taxes
The effective tax rate was
Balance Sheet
At June 30, 2025, total assets were
Loan and Securities Portfolio
Loans held for investment ("HFI") totaled
As of June 30, 2025, available for sale securities ("AFS") totaled
Deposits
Total deposits were
Credit Quality
Nonperforming assets totaled
Special mention loans totaled
Substandard loans totaled
30-89 day delinquent loans, excluding nonperforming loans, totaled
As of June 30, 2025, the allowance for credit losses totaled
| For the Three Months Ended June 30, 2025 | For the Six Months Ended June 30, 2025 | ||||||||||||||||||||||
| (dollars in thousands) | Allowance for loan losses | Reserve for unfunded loan commitments | Allowance for credit losses | Allowance for loan losses | Reserve for unfunded loan commitments | Allowance for credit losses | |||||||||||||||||
| Beginning balance | $ | 51,932 | $ | 629 | $ | 52,561 | $ | 47,729 | $ | 729 | $ | 48,458 | |||||||||||
| Provision for (reversal of) credit losses | 2,387 | — | 2,387 | 9,233 | (100 | ) | 9,133 | ||||||||||||||||
| Less loans charged-off | (3,339 | ) | — | (3,339 | ) | (6,065 | ) | — | (6,065 | ) | |||||||||||||
| Recoveries on loans charged-off | 34 | — | 34 | 117 | — | 117 | |||||||||||||||||
| Ending balance | $ | 51,014 | $ | 629 | $ | 51,643 | $ | 51,014 | $ | 629 | $ | 51,643 | |||||||||||
Shareholders' Equity
At June 30, 2025, 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 |
| (1 | ) | Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures included at the end of this press release. |
Corporate Overview
RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California. As of June 30, 2025, 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, July 22, 2025, to discuss the Company’s second quarter 2025 financial results.
To listen to the conference call, please dial 1-888-506-0062 or 1-973-528-0011, the Participant ID code is 710803, conference ID RBBQ225. A replay of the call will be made available at 1-877-481-4010 or 1-919-882-2331, the passcode is 52690, approximately one hour after the conclusion of the call and will remain available through August 05, 2025.
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 for tangible common equity and tangible assets and adjusted earnings. The Company uses certain non-GAAP financial measures 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 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, the effectiveness of the Company’s internal control over financial reporting and disclosure controls and procedures; the potential for additional material weaknesses in the Company’s internal controls over financial reporting or other potential control deficiencies of which the Company is not currently aware or which have not been detected; 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; 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; fluctuations in interest rates; 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, including direct and indirect costs and impacts on clients, the Company and its employees from the January 2025 Los Angeles County wildfires; 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 conflicts between Russia and Ukraine, 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; adverse results in legal proceedings; 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 SEC, the Public Company Accounting Oversight Board, the Financial Accounting Standards Board 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, FRB and California Department of Financial Protection and Innovation; 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, 2024, 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) | |||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | |||||||||||||||
| 2025 | 2025 | 2024 | 2024 | 2024 | |||||||||||||||
| Assets | |||||||||||||||||||
| Cash and due from banks | $ | 27,338 | $ | 25,315 | $ | 27,747 | $ | 26,388 | $ | 23,313 | |||||||||
| Interest-earning deposits with financial institutions | 164,514 | 213,508 | 229,998 | 323,002 | 229,456 | ||||||||||||||
| Cash and cash equivalents | 191,852 | 238,823 | 257,745 | 349,390 | 252,769 | ||||||||||||||
| Interest-earning time deposits with financial institutions | 600 | 600 | 600 | 600 | 600 | ||||||||||||||
| Investment securities available for sale | 413,142 | 378,188 | 420,190 | 305,666 | 325,582 | ||||||||||||||
| Investment securities held to maturity | 4,186 | 5,188 | 5,191 | 5,195 | 5,200 | ||||||||||||||
| Loans held for sale | - | 655 | 11,250 | 812 | 3,146 | ||||||||||||||
| Loans held for investment | 3,234,695 | 3,143,063 | 3,053,230 | 3,091,896 | 3,047,712 | ||||||||||||||
| Allowance for loan losses | (51,014 | ) | (51,932 | ) | (47,729 | ) | (43,685 | ) | (41,741 | ) | |||||||||
| Net loans held for investment | 3,183,681 | 3,091,131 | 3,005,501 | 3,048,211 | 3,005,971 | ||||||||||||||
| Premises and equipment, net | 23,945 | 24,308 | 24,601 | 24,839 | 25,049 | ||||||||||||||
| Federal Home Loan Bank (FHLB) stock | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | ||||||||||||||
| Cash surrender value of bank owned life insurance | 61,111 | 60,699 | 60,296 | 59,889 | 59,486 | ||||||||||||||
| Goodwill | 71,498 | 71,498 | 71,498 | 71,498 | 71,498 | ||||||||||||||
| Servicing assets | 6,482 | 6,766 | 6,985 | 7,256 | 7,545 | ||||||||||||||
| Core deposit intangibles | 1,667 | 1,839 | 2,011 | 2,194 | 2,394 | ||||||||||||||
| Right-of-use assets | 25,554 | 26,779 | 28,048 | 29,283 | 30,530 | ||||||||||||||
| Accrued interest and other assets | 91,322 | 87,926 | 83,561 | 70,644 | 63,416 | ||||||||||||||
| Total assets | $ | 4,090,040 | $ | 4,009,400 | $ | 3,992,477 | $ | 3,990,477 | $ | 3,868,186 | |||||||||
| Liabilities and shareholders' equity | |||||||||||||||||||
| Deposits: | |||||||||||||||||||
| Noninterest-bearing demand | $ | 543,885 | $ | 528,205 | $ | 563,012 | $ | 543,623 | $ | 542,971 | |||||||||
| Savings, NOW and money market accounts | 691,679 | 721,216 | 663,034 | 666,089 | 647,770 | ||||||||||||||
| Time deposits, | 1,010,674 | 1,000,106 | 1,007,452 | 1,052,462 | 1,014,189 | ||||||||||||||
| Time deposits, greater than | 941,993 | 893,101 | 850,291 | 830,010 | 818,675 | ||||||||||||||
| Total deposits | 3,188,231 | 3,142,628 | 3,083,789 | 3,092,184 | 3,023,605 | ||||||||||||||
| FHLB advances | 180,000 | 160,000 | 200,000 | 200,000 | 150,000 | ||||||||||||||
| Long-term debt, net of issuance costs | 119,720 | 119,624 | 119,529 | 119,433 | 119,338 | ||||||||||||||
| Subordinated debentures | 15,265 | 15,211 | 15,156 | 15,102 | 15,047 | ||||||||||||||
| Lease liabilities - operating leases | 27,294 | 28,483 | 29,705 | 30,880 | 32,087 | ||||||||||||||
| Accrued interest and other liabilities | 41,877 | 33,148 | 36,421 | 23,150 | 16,818 | ||||||||||||||
| Total liabilities | 3,572,387 | 3,499,094 | 3,484,600 | 3,480,749 | 3,356,895 | ||||||||||||||
| Shareholders' equity: | |||||||||||||||||||
| Common stock | 259,863 | 260,284 | 259,957 | 259,280 | 266,160 | ||||||||||||||
| Additional paid-in capital | 3,579 | 3,360 | 3,645 | 3,520 | 3,456 | ||||||||||||||
| Retained earnings | 270,152 | 263,885 | 264,460 | 262,946 | 262,518 | ||||||||||||||
| Non-controlling interest | 72 | 72 | 72 | 72 | 72 | ||||||||||||||
| Accumulated other comprehensive loss, net | (16,013 | ) | (17,295 | ) | (20,257 | ) | (16,090 | ) | (20,915 | ) | |||||||||
| Total shareholders' equity | 517,653 | 510,306 | 507,877 | 509,728 | 511,291 | ||||||||||||||
| Total liabilities and shareholders’ equity | $ | 4,090,040 | $ | 4,009,400 | $ | 3,992,477 | $ | 3,990,477 | $ | 3,868,186 | |||||||||
| RBB BANCORP AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (In thousands, except share and per share data) | |||||||||||||||||||
| For the Three Months Ended | For the Six Months Ended | ||||||||||||||||||
| June 30, 2025 | March 31, 2025 | June 30, 2024 | June 30, 2025 | June 30, 2024 | |||||||||||||||
| Interest and dividend income: | |||||||||||||||||||
| Interest and fees on loans | $ | 47,687 | $ | 45,621 | $ | 45,320 | $ | 93,308 | $ | 90,867 | |||||||||
| Interest on interest-earning deposits | 1,750 | 2,014 | 3,353 | 3,764 | 8,393 | ||||||||||||||
| Interest on investment securities | 4,213 | 4,136 | 3,631 | 8,349 | 7,242 | ||||||||||||||
| Dividend income on FHLB stock | 324 | 330 | 327 | 654 | 658 | ||||||||||||||
| Interest on federal funds sold and other | 231 | 235 | 255 | 466 | 521 | ||||||||||||||
| Total interest and dividend income | 54,205 | 52,336 | 52,886 | 106,541 | 107,681 | ||||||||||||||
| Interest expense: | |||||||||||||||||||
| Interest on savings deposits, NOW and money market accounts | 4,567 | 4,468 | 4,953 | 9,035 | 9,431 | ||||||||||||||
| Interest on time deposits | 19,250 | 19,084 | 21,850 | 38,334 | 45,172 | ||||||||||||||
| Interest on long-term debt and subordinated debentures | 1,634 | 1,632 | 1,679 | 3,266 | 3,358 | ||||||||||||||
| Interest on FHLB advances | 1,420 | 989 | 439 | 2,409 | 878 | ||||||||||||||
| Total interest expense | 26,871 | 26,173 | 28,921 | 53,044 | 58,839 | ||||||||||||||
| Net interest income before provision for credit losses | 27,334 | 26,163 | 23,965 | 53,497 | 48,842 | ||||||||||||||
| Provision for credit losses | 2,387 | 6,746 | 557 | 9,133 | 557 | ||||||||||||||
| Net interest income after provision for credit losses | 24,947 | 19,417 | 23,408 | 44,364 | 48,285 | ||||||||||||||
| Noninterest income: | |||||||||||||||||||
| Service charges and fees | 1,060 | 1,017 | 1,064 | 2,077 | 2,056 | ||||||||||||||
| Gain on sale of loans | 358 | 81 | 451 | 439 | 763 | ||||||||||||||
| Loan servicing fees, net of amortization | 541 | 588 | 579 | 1,129 | 1,168 | ||||||||||||||
| Increase in cash surrender value of life insurance | 411 | 403 | 385 | 814 | 767 | ||||||||||||||
| Gain on OREO | — | — | 292 | — | 1,016 | ||||||||||||||
| Other income | 6,108 | 206 | 717 | 6,314 | 1,090 | ||||||||||||||
| Total noninterest income | 8,478 | 2,295 | 3,488 | 10,773 | 6,860 | ||||||||||||||
| Noninterest expense: | |||||||||||||||||||
| Salaries and employee benefits | 11,080 | 10,643 | 9,533 | 21,723 | 19,460 | ||||||||||||||
| Occupancy and equipment expenses | 2,377 | 2,407 | 2,439 | 4,784 | 4,882 | ||||||||||||||
| Data processing | 1,713 | 1,602 | 1,466 | 3,315 | 2,886 | ||||||||||||||
| Legal and professional | 2,904 | 1,515 | 1,260 | 4,419 | 2,140 | ||||||||||||||
| Office expenses | 405 | 408 | 352 | 813 | 708 | ||||||||||||||
| Marketing and business promotion | 212 | 197 | 189 | 409 | 361 | ||||||||||||||
| Insurance and regulatory assessments | 709 | 730 | 981 | 1,439 | 1,963 | ||||||||||||||
| Core deposit premium | 172 | 172 | 201 | 344 | 402 | ||||||||||||||
| Other expenses | 921 | 848 | 703 | 1,769 | 1,291 | ||||||||||||||
| Total noninterest expense | 20,493 | 18,522 | 17,124 | 39,015 | 34,093 | ||||||||||||||
| Income before income taxes | 12,932 | 3,190 | 9,772 | 16,122 | 21,052 | ||||||||||||||
| Income tax expense | 3,599 | 900 | 2,527 | 4,499 | 5,771 | ||||||||||||||
| Net income | $ | 9,333 | $ | 2,290 | $ | 7,245 | $ | 11,623 | $ | 15,281 | |||||||||
| Net income per share | |||||||||||||||||||
| Basic | $ | 0.53 | $ | 0.13 | $ | 0.39 | $ | 0.66 | $ | 0.83 | |||||||||
| Diluted | $ | 0.52 | $ | 0.13 | $ | 0.39 | $ | 0.65 | $ | 0.82 | |||||||||
| Cash dividends declared per common share | $ | 0.16 | $ | 0.16 | $ | 0.16 | $ | 0.32 | $ | 0.32 | |||||||||
| Weighted-average common shares outstanding | |||||||||||||||||||
| Basic | 17,746,607 | 17,727,712 | 18,375,970 | 17,737,212 | 18,488,623 | ||||||||||||||
| Diluted | 17,797,735 | 17,770,588 | 18,406,897 | 17,784,237 | 18,529,299 | ||||||||||||||
| RBB BANCORP AND SUBSIDIARIES AVERAGE BALANCE SHEET AND NET INTEREST INCOME (Unaudited) | |||||||||||||||||||||||||||||||||||
| For the Three Months Ended | |||||||||||||||||||||||||||||||||||
| June 30, 2025 | March 31, 2025 | June 30, 2024 | |||||||||||||||||||||||||||||||||
| Average | Interest | Yield / | Average | Interest | Yield / | Average | Interest | Yield / | |||||||||||||||||||||||||||
| (tax-equivalent basis, dollars in thousands) | Balance | & Fees | Rate | Balance | & Fees | Rate | Balance | & Fees | Rate | ||||||||||||||||||||||||||
| Interest-earning assets | |||||||||||||||||||||||||||||||||||
| Cash and cash equivalents(1) | $ | 163,838 | $ | 1,980 | 4.85 | % | $ | 194,236 | $ | 2,249 | 4.70 | % | $ | 255,973 | $ | 3,608 | 5.67 | % | |||||||||||||||||
| FHLB Stock | 15,000 | 324 | 8.66 | % | 15,000 | 330 | 8.92 | % | 15,000 | 327 | 8.77 | % | |||||||||||||||||||||||
| Securities | |||||||||||||||||||||||||||||||||||
| Available for sale(2) | 399,414 | 4,189 | 4.21 | % | 390,178 | 4,113 | 4.28 | % | 318,240 | 3,608 | 4.56 | % | |||||||||||||||||||||||
| Held to maturity(2) | 5,028 | 48 | 3.83 | % | 5,189 | 49 | 3.83 | % | 5,203 | 46 | 3.56 | % | |||||||||||||||||||||||
| Total loans(3) | 3,171,570 | 47,687 | 6.03 | % | 3,079,224 | 45,621 | 6.01 | % | 3,017,050 | 45,320 | 6.04 | % | |||||||||||||||||||||||
| Total interest-earning assets | 3,754,850 | $ | 54,228 | 5.79 | % | 3,683,827 | $ | 52,362 | 5.76 | % | 3,611,466 | $ | 52,909 | 5.89 | % | ||||||||||||||||||||
| Total noninterest-earning assets | 254,029 | 260,508 | 240,016 | ||||||||||||||||||||||||||||||||
| Total average assets | $ | 4,008,879 | $ | 3,944,335 | $ | 3,851,482 | |||||||||||||||||||||||||||||
| Interest-bearing liabilities | |||||||||||||||||||||||||||||||||||
| NOW | $ | 66,755 | 368 | 2.21 | % | $ | 61,222 | $ | 321 | 2.13 | % | $ | 56,081 | $ | 276 | 1.98 | % | ||||||||||||||||||
| Money market | 482,669 | 3,774 | 3.14 | % | 463,443 | 3,625 | 3.17 | % | 431,559 | 3,877 | 3.61 | % | |||||||||||||||||||||||
| Saving deposits | 141,411 | 425 | 1.21 | % | 155,116 | 522 | 1.36 | % | 164,913 | 800 | 1.95 | % | |||||||||||||||||||||||
| Time deposits, | 996,249 | 9,768 | 3.93 | % | 989,622 | 10,046 | 4.12 | % | 1,049,666 | 12,360 | 4.74 | % | |||||||||||||||||||||||
| Time deposits, greater than | 922,540 | 9,482 | 4.12 | % | 864,804 | 9,038 | 4.24 | % | 772,255 | 9,490 | 4.94 | % | |||||||||||||||||||||||
| Total interest-bearing deposits | 2,609,624 | 23,817 | 3.66 | % | 2,534,207 | 23,552 | 3.77 | % | 2,474,474 | 26,803 | 4.36 | % | |||||||||||||||||||||||
| FHLB advances | 159,286 | 1,420 | 3.58 | % | 176,833 | 989 | 2.27 | % | 150,000 | 439 | 1.18 | % | |||||||||||||||||||||||
| Long-term debt | 119,657 | 1,296 | 4.34 | % | 119,562 | 1,295 | 4.39 | % | 119,275 | 1,296 | 4.37 | % | |||||||||||||||||||||||
| Subordinated debentures | 15,230 | 338 | 8.90 | % | 15,175 | 337 | 9.01 | % | 15,011 | 383 | 10.26 | % | |||||||||||||||||||||||
| Total interest-bearing liabilities | 2,903,797 | 26,871 | 3.71 | % | 2,845,777 | 26,173 | 3.73 | % | 2,758,760 | 28,921 | 4.22 | % | |||||||||||||||||||||||
| Noninterest-bearing liabilities | |||||||||||||||||||||||||||||||||||
| Noninterest-bearing deposits | 526,113 | 520,145 | 529,450 | ||||||||||||||||||||||||||||||||
| Other noninterest-bearing liabilities | 65,278 | 66,151 | 51,087 | ||||||||||||||||||||||||||||||||
| Total noninterest-bearing liabilities | 591,391 | 586,296 | 580,537 | ||||||||||||||||||||||||||||||||
| Shareholders' equity | 513,691 | 512,262 | 512,185 | ||||||||||||||||||||||||||||||||
| Total liabilities and shareholders' equity | $ | 4,008,879 | $ | 3,944,335 | $ | 3,851,482 | |||||||||||||||||||||||||||||
| Net interest income / interest rate spreads | $ | 27,357 | 2.08 | % | $ | 26,189 | 2.03 | % | $ | 23,988 | 1.67 | % | |||||||||||||||||||||||
| Net interest margin | 2.92 | % | 2.88 | % | 2.67 | % | |||||||||||||||||||||||||||||
| Total cost of deposits | $ | 3,135,737 | $ | 23,817 | 3.05 | % | $ | 3,054,352 | $ | 23,552 | 3.13 | % | $ | 3,003,924 | $ | 26,803 | 3.59 | % | |||||||||||||||||
| Total cost of funds | $ | 3,429,910 | $ | 26,871 | 3.14 | % | $ | 3,365,922 | $ | 26,173 | 3.15 | % | $ | 3,288,210 | $ | 28,921 | 3.54 | % | |||||||||||||||||
___________
| (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 AVERAGE BALANCE SHEET AND NET INTEREST INCOME (Unaudited) | |||||||||||||||||||||||
| Six Months Ended June 30, | |||||||||||||||||||||||
| 2025 | 2024 | ||||||||||||||||||||||
| Average | Interest | Yield / | Average | Interest | Yield / | ||||||||||||||||||
| (tax-equivalent basis, dollars in thousands) | Balance | & Fees | Rate | Balance | & Fees | Rate | |||||||||||||||||
| Interest-earning assets | |||||||||||||||||||||||
| Cash and cash equivalents(1) | $ | 178,953 | $ | 4,230 | 4.77 | % | $ | 310,476 | $ | 8,914 | 5.77 | % | |||||||||||
| FHLB Stock | 15,000 | 654 | 8.79 | % | 15,000 | 658 | 8.82 | % | |||||||||||||||
| Securities | |||||||||||||||||||||||
| Available for sale(2) | 394,822 | 8,302 | 4.24 | % | 319,127 | 7,197 | 4.54 | % | |||||||||||||||
| Held to maturity(2) | 5,108 | 97 | 3.83 | % | 5,205 | 94 | 3.63 | % | |||||||||||||||
| Total loans(3) | 3,125,652 | 93,308 | 6.02 | % | 3,017,737 | 90,867 | 6.06 | % | |||||||||||||||
| Total interest-earning assets | 3,719,535 | $ | 106,591 | 5.78 | % | 3,667,545 | $ | 107,730 | 5.91 | % | |||||||||||||
| Total noninterest-earning assets | 257,250 | 243,178 | |||||||||||||||||||||
| Total average assets | $ | 3,976,785 | $ | 3,910,723 | |||||||||||||||||||
| Interest-bearing liabilities | |||||||||||||||||||||||
| NOW | $ | 64,004 | 689 | 2.17 | % | $ | 57,513 | $ | 574 | 2.01 | % | ||||||||||||
| Money market | 473,109 | 7,399 | 3.15 | % | 421,655 | 7,403 | 3.53 | % | |||||||||||||||
| Saving deposits | 148,225 | 947 | 1.29 | % | 161,070 | 1,454 | 1.82 | % | |||||||||||||||
| Time deposits, | 992,954 | 19,815 | 4.02 | % | 1,112,735 | 26,165 | 4.73 | % | |||||||||||||||
| Time deposits, greater than | 893,832 | 18,519 | 4.18 | % | 778,713 | 19,007 | 4.91 | % | |||||||||||||||
| Total interest-bearing deposits | 2,572,124 | 47,369 | 3.71 | % | 2,531,686 | 54,603 | 4.34 | % | |||||||||||||||
| FHLB advances | 168,011 | 2,409 | 2.89 | % | 150,000 | 878 | 1.18 | % | |||||||||||||||
| Long-term debt | 119,610 | 2,591 | 4.37 | % | 119,228 | 2,591 | 4.37 | % | |||||||||||||||
| Subordinated debentures | 15,203 | 675 | 8.95 | % | 14,984 | 767 | 10.29 | % | |||||||||||||||
| Total interest-bearing liabilities | 2,874,948 | 53,044 | 3.72 | % | 2,815,898 | 58,839 | 4.20 | % | |||||||||||||||
| Noninterest-bearing liabilities | |||||||||||||||||||||||
| Noninterest-bearing deposits | 523,145 | 528,898 | |||||||||||||||||||||
| Other noninterest-bearing liabilities | 65,711 | 53,441 | |||||||||||||||||||||
| Total noninterest-bearing liabilities | 588,856 | 582,339 | |||||||||||||||||||||
| Shareholders' equity | 512,981 | 512,486 | |||||||||||||||||||||
| Total liabilities and shareholders' equity | $ | 3,976,785 | $ | 3,910,723 | |||||||||||||||||||
| Net interest income / interest rate spreads | $ | 53,547 | 2.06 | % | $ | 48,891 | 1.71 | % | |||||||||||||||
| Net interest margin | 2.90 | % | 2.68 | % | |||||||||||||||||||
| Total cost of deposits | $ | 3,095,269 | $ | 47,369 | 3.09 | % | $ | 3,060,584 | $ | 54,603 | 3.59 | % | |||||||||||
| Total cost of funds | $ | 3,398,093 | $ | 53,044 | 3.15 | % | $ | 3,344,796 | $ | 58,839 | 3.54 | % | |||||||||||
___________
| (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 | At or for the Six Months Ended June 30, | ||||||||||||||||||
| June 30, | March 31, | June 30, | |||||||||||||||||
| 2025 | 2025 | 2024 | 2025 | 2024 | |||||||||||||||
| Per share data (common stock) | |||||||||||||||||||
| Book value | $ | 29.25 | $ | 28.77 | $ | 28.12 | $ | 29.25 | $ | 28.12 | |||||||||
| Tangible book value(1) | $ | 25.11 | $ | 24.63 | $ | 24.06 | $ | 25.11 | $ | 24.06 | |||||||||
| Performance ratios | |||||||||||||||||||
| Return on average assets, annualized | 0.93 | % | 0.24 | % | 0.76 | % | 0.59 | % | 0.79 | % | |||||||||
| Return on average shareholders' equity, annualized | 7.29 | % | 1.81 | % | 5.69 | % | 4.57 | % | 6.00 | % | |||||||||
| Return on average tangible common equity, annualized(1) | 8.50 | % | 2.12 | % | 6.65 | % | 5.33 | % | 7.01 | % | |||||||||
| Noninterest income to average assets, annualized | 0.85 | % | 0.24 | % | 0.36 | % | 0.55 | % | 0.35 | % | |||||||||
| Noninterest expense to average assets, annualized | 2.05 | % | 1.90 | % | 1.79 | % | 1.98 | % | 1.75 | % | |||||||||
| Yield on average earning assets | 5.79 | % | 5.76 | % | 5.89 | % | 5.78 | % | 5.91 | % | |||||||||
| Yield on average loans | 6.03 | % | 6.01 | % | 6.04 | % | 6.02 | % | 6.06 | % | |||||||||
| Cost of average total deposits(2) | 3.05 | % | 3.13 | % | 3.59 | % | 3.09 | % | 3.59 | % | |||||||||
| Cost of average interest-bearing deposits | 3.66 | % | 3.77 | % | 4.36 | % | 3.71 | % | 4.34 | % | |||||||||
| Cost of average interest-bearing liabilities | 3.71 | % | 3.73 | % | 4.22 | % | 3.72 | % | 4.20 | % | |||||||||
| Net interest spread | 2.08 | % | 2.03 | % | 1.67 | % | 2.06 | % | 1.71 | % | |||||||||
| Net interest margin | 2.92 | % | 2.88 | % | 2.67 | % | 2.90 | % | 2.68 | % | |||||||||
| Efficiency ratio(3) | 57.22 | % | 65.09 | % | 62.38 | % | 60.70 | % | 61.21 | % | |||||||||
| Common stock dividend payout ratio | 30.19 | % | 123.08 | % | 41.03 | % | 48.48 | % | 38.55 | % | |||||||||
___________
| (1 | ) | Non-GAAP measure. See Non–GAAP reconciliations set forth at the end of this press release. |
| (2 | ) | Total deposits include non-interest bearing deposits and interest-bearing deposits. |
| (3 | ) | Ratio calculated by dividing noninterest expense by the sum of net interest income before provision for credit losses and noninterest income. |
| RBB BANCORP AND SUBSIDIARIES SELECTED FINANCIAL HIGHLIGHTS (Unaudited) (Dollars in thousands) | |||||||||||
| At or for the quarter ended | |||||||||||
| June 30, | March 31, | June 30, | |||||||||
| 2025 | 2025 | 2024 | |||||||||
| Credit Quality Data: | |||||||||||
| Special mention loans | $ | 91,317 | $ | 64,279 | $ | 19,520 | |||||
| Special mention loans to total loans HFI | 2.82 | % | 2.05 | % | 0.64 | % | |||||
| Substandard loans | $ | 91,019 | $ | 76,372 | $ | 63,076 | |||||
| Substandard loans to total loans HFI | 2.81 | % | 2.43 | % | 2.07 | % | |||||
| Loans 30-89 days past due, excluding nonperforming loans | $ | 18,003 | $ | 5,927 | $ | 11,270 | |||||
| Loans 30-89 days past due, excluding nonperforming loans, to total loans | 0.56 | % | 0.19 | % | 0.37 | % | |||||
| Nonperforming loans | $ | 56,817 | $ | 60,380 | $ | 54,589 | |||||
| OREO | $ | 4,170 | $ | 4,170 | $ | — | |||||
| Nonperforming assets | $ | 60,987 | $ | 64,550 | $ | 54,589 | |||||
| Nonperforming loans to total loans HFI | 1.76 | % | 1.92 | % | 1.79 | % | |||||
| Nonperforming assets to total assets | 1.49 | % | 1.61 | % | 1.41 | % | |||||
| Allowance for loan losses | $ | 51,014 | $ | 51,932 | $ | 41,741 | |||||
| Allowance for loan losses to total loans HFI | 1.58 | % | 1.65 | % | 1.37 | % | |||||
| Allowance for loan losses to nonperforming loans HFI | 89.79 | % | 86.01 | % | 76.46 | % | |||||
| Net charge-offs | $ | 3,305 | $ | 2,643 | $ | 551 | |||||
| Net charge-offs to average loans | 0.42 | % | 0.35 | % | 0.07 | % | |||||
| Capitalratios(1) | |||||||||||
| Tangible common equity to tangible assets(2) | 11.07 | % | 11.10 | % | 11.53 | % | |||||
| Tier 1 leverage ratio | 12.04 | % | 12.07 | % | 12.48 | % | |||||
| Tier 1 common capital to risk-weighted assets | 17.61 | % | 17.87 | % | 18.89 | % | |||||
| Tier 1 capital to risk-weighted assets | 18.17 | % | 18.45 | % | 19.50 | % | |||||
| Total capital to risk-weighted assets | 24.00 | % | 24.42 | % | 25.67 | % | |||||
___________
| (1 | ) | June 30, 2025 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 June 30, 2025 | As of March 31, 2025 | As of June 30, 2024 | ||||||||||||||||||||
| (dollars in thousands) | $ | % | $ | % | $ | % | |||||||||||||||||
| Loans: | |||||||||||||||||||||||
| Commercial and industrial | $ | 138,263 | 4.3 | % | $ | 135,538 | 4.3 | % | $ | 126,649 | 4.2 | % | |||||||||||
| SBA | 55,984 | 1.7 | % | 50,651 | 1.6 | % | 50,323 | 1.7 | % | ||||||||||||||
| Construction and land development | 157,970 | 4.9 | % | 158,883 | 5.1 | % | 202,459 | 6.6 | % | ||||||||||||||
| Commercial real estate(1) | 1,273,442 | 39.4 | % | 1,245,402 | 39.6 | % | 1,190,207 | 39.1 | % | ||||||||||||||
| Single-family residential mortgages | 1,603,114 | 49.6 | % | 1,545,822 | 49.2 | % | 1,467,802 | 48.2 | % | ||||||||||||||
| Other loans | 5,922 | 0.1 | % | 6,767 | 0.2 | % | 10,272 | 0.2 | % | ||||||||||||||
| Total loans | $ | 3,234,695 | 100.0 | % | $ | 3,143,063 | 100.0 | % | $ | 3,047,712 | 100.0 | % | |||||||||||
| Allowance for loan losses | (51,014 | ) | (51,932 | ) | (41,741 | ) | |||||||||||||||||
| Total loans, net | $ | 3,183,681 | $ | 3,091,131 | $ | 3,005,971 | |||||||||||||||||
___________
| (1 | ) | Includes non-farm and non-residential loans, multi-family residential loans and non-owner occupied single family residential loans. |
| Deposits | As of June 30, 2025 | As of March 31, 2025 | As of June 30, 2024 | ||||||||||||||||||||
| (dollars in thousands) | $ | % | $ | % | $ | % | |||||||||||||||||
| Deposits: | |||||||||||||||||||||||
| Noninterest-bearing demand | $ | 543,885 | 17.1 | % | $ | 528,205 | 16.8 | % | $ | 542,971 | 18.0 | % | |||||||||||
| Savings, NOW and money market accounts | 691,679 | 21.7 | % | 721,216 | 22.9 | % | 647,770 | 21.4 | % | ||||||||||||||
| Time deposits, | 848,379 | 26.6 | % | 863,962 | 27.5 | % | 921,712 | 30.5 | % | ||||||||||||||
| Time deposits, greater than | 920,481 | 28.8 | % | 870,708 | 27.8 | % | 790,478 | 26.1 | % | ||||||||||||||
| Wholesale deposits(1) | 183,807 | 5.8 | % | 158,537 | 5.0 | % | 120,674 | 4.0 | % | ||||||||||||||
| Total deposits | $ | 3,188,231 | 100.0 | % | $ | 3,142,628 | 100.0 | % | $ | 3,023,605 | 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 as of the dates indicated.
| (dollars in thousands, except share and per share data) | June 30, 2025 | March 31, 2025 | June 30, 2024 | ||||||||
| Tangible common equity: | |||||||||||
| Total shareholders' equity | $ | 517,653 | $ | 510,306 | $ | 511,291 | |||||
| Adjustments | |||||||||||
| Goodwill | (71,498 | ) | (71,498 | ) | (71,498 | ) | |||||
| Core deposit intangible | (1,667 | ) | (1,839 | ) | (2,394 | ) | |||||
| Tangible common equity | $ | 444,488 | $ | 436,969 | $ | 437,399 | |||||
| Tangible assets: | |||||||||||
| Total assets-GAAP | $ | 4,090,040 | $ | 4,009,400 | $ | 3,868,186 | |||||
| Adjustments | |||||||||||
| Goodwill | (71,498 | ) | (71,498 | ) | (71,498 | ) | |||||
| Core deposit intangible | (1,667 | ) | (1,839 | ) | (2,394 | ) | |||||
| Tangible assets | $ | 4,016,875 | $ | 3,936,063 | $ | 3,794,294 | |||||
| Common shares outstanding | 17,699,091 | 17,738,628 | 18,182,154 | ||||||||
| Common equity to assets ratio | 12.66 | % | 12.73 | % | 13.22 | % | |||||
| Tangible common equity to tangible assets ratio | 11.07 | % | 11.10 | % | 11.53 | % | |||||
| Book value per share | $ | 29.25 | $ | 28.77 | $ | 28.12 | |||||
| Tangible book value per share | $ | 25.11 | $ | 24.63 | $ | 24.06 | |||||
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 | Six Months Ended June 30, | ||||||||||||||||||
| (dollars in thousands) | June 30, 2025 | March 31, 2025 | June 30, 2024 | 2025 | 2024 | ||||||||||||||
| Net income available to common shareholders | $ | 9,333 | $ | 2,290 | $ | 7,245 | $ | 11,623 | $ | 15,281 | |||||||||
| Average shareholders' equity | 513,691 | 512,262 | 512,185 | 512,981 | 512,486 | ||||||||||||||
| Adjustments: | |||||||||||||||||||
| Average goodwill | (71,498 | ) | (71,498 | ) | (71,498 | ) | (71,498 | ) | (71,498 | ) | |||||||||
| Average core deposit intangible | (1,780 | ) | (1,951 | ) | (2,525 | ) | (1,865 | ) | (2,625 | ) | |||||||||
| Adjusted average tangible common equity | $ | 440,413 | $ | 438,813 | $ | 438,162 | $ | 439,618 | $ | 438,363 | |||||||||
| Return on average common equity, annualized | 7.29 | % | 1.81 | % | 5.69 | % | 4.57 | % | 6.00 | % | |||||||||
| Return on average tangible common equity, annualized | 8.50 | % | 2.12 | % | 6.65 | % | 5.33 | % | 7.01 | % | |||||||||
FAQ
What were RBB Bancorp's Q2 2025 earnings per share?
How much is RBB Bancorp's quarterly dividend for Q2 2025?
What was RBB's net interest margin in Q2 2025?
How much did RBB's nonperforming assets decrease in Q2 2025?
What was RBB Bancorp's loan growth in Q2 2025?
What was the impact of the Employee Retention Credit on RBB's earnings?
