RBB Bancorp第二季淨利潤1010萬美元 每股盈利0.59美元 宣佈季度股息及回購計劃

EX-99.1
2
ex_970512.htm
EXHIBIT 99.1

 ex_970512.htm
 

 

Exhibit 99.1

 

 

 

RBB Bancorp Reports Second Quarter 2026 Earnings and Declares Quarterly Cash Dividend of $0.16 Per Common Share 

 

Los Angeles, CA, July 20, 2026 – RBB Bancorp (NASDAQ:RBB) and its bank subsidiary, Royal Business Bank (the “Bank”), collectively referred to herein as the “Company,” announced financial results for the quarter ended June 30, 2026.

 

Second Quarter 2026 Highlights

 

 
  
 ●
 Net income totaled $10.1 million, or $0.59 diluted earnings per share 
 

 
  
 ●
 Return on average assets of 0.97%, compared to 1.09% for the prior quarter
 

 
  
 ●
 Net interest margin of 3.06%, down from 3.15% for the prior quarter
 

 
  
 ●
 Nonperforming assets of $43.6 million, a $5.3 million, or 10.8%, decrease compared to prior quarter end
 

 
  
 ●
 
 Book value and tangible book value per share(1) increased to $31.51 and $27.23 at June 30, 2026, up from $31.10 and $26.84 at March 31, 2026

 
 

 
  
 ●
 Announced new common stock repurchase plan for up to 1 million shares through June 30, 2028
 

 
  
 ●
 Announced partial redemption of subordinated notes of $40 million which was completed on July 1, 2026
 

 

The Company reported net income of $10.1 million, or $0.59 diluted earnings per share, for the quarter ended June 30, 2026, compared to net income of $11.3 million, or $0.66 diluted earnings per share, for the quarter ended March 31, 2026. 

 

“Our second quarter results reflected the continued strength of our core banking franchise as stable loan yields, strong loan originations and continued growth in retail deposits supported another quarter of solid profitability," said Johnny Lee, President and Chief Executive Officer of RBB Bancorp. "We continued to improve the quality of our funding base through strong retail deposit growth while reducing our cost of deposits. Credit quality continued to improve, with nonperforming assets declining 11% from the prior quarter, and we remain focused on disciplined loan growth, relationship banking, and resolving problem assets to drive long-term shareholder value."

 

 
 
 (1)

 
 Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures included at the end of this press release.
 

 

1

 

Net Interest Income and Net Interest Margin 

 

Net interest income was $30.1 million for the second quarter of 2026, compared to $30.5 million for the first quarter of 2026. The $417,000 decrease was due to a $773,000 increase in interest expense, offset by a $356,000 increase in interest income. The increase in interest expense was due mainly to an $829,000 increase in interest on subordinated notes as a result of the notes repricing from 4.00% to 6.98% effective April 1, 2026 and one more day in the quarter. The increase in interest income was due to the combination of a $725,000 increase in loan interest income as average loans increased and one more day in the quarter, partially offset by lower FHLB dividend income as the first quarter of 2026 included a special dividend of $430,000. There was no special dividend from the FHLB in the second quarter of 2026. 

 

The net interest margin (“NIM”) decreased 9 basis points to 3.06% for the second quarter of 2026 from 3.15% for the first quarter of 2026. The NIM decrease included a 5 basis point decrease in the yield on average total interest-earning assets and a 4 basis point increase in the overall cost of funds. The yield on average total interest-earning assets decreased to 5.81% for the second quarter of 2026 from 5.86% for the first quarter of 2026, due mostly to the impact of a 4 basis point decrease from lower FHLB dividends and a 1 basis point decrease in the yield on average total loans.

 

The average total cost of funds increased 4 basis points to 3.00% for the second quarter of 2026 from 2.96% for the first quarter of 2026, due mostly to an increase in the cost of subordinated notes due to their repricing on April 1, 2026, partially offset by a 5 basis point decrease in the cost of average total deposits to 2.81%. Average noninterest-bearing deposits represented approximately 16% of average total deposits for both the second and first quarters of 2026. The period end weighted average interest rate for total deposits declined to 2.75% at June 30, 2026 from 2.79% at March 31, 2026.

 

Provision for Credit Losses

 

There was no provision for credit losses for the second quarter of 2026 compared to a $200,000 reversal for the first quarter of 2026. The second quarter 2026 provision for credit losses reflected a provision for loan losses of $77,000 and a negative provision for unfunded loan commitments of $77,000 due to a lower volume of unfunded loan commitments. The second quarter provision for loan losses was due mainly to the impact of net charge-offs, while portfolio credit quality trends, underlying economic forecast indicators, and changes in loan portfolio composition remained relatively stable. Net charge-offs in the second quarter of 2026 represented 0.01% of average loans on an annualized basis, compared to 0.00% for the first quarter of 2026.

 

Noninterest Income

 

Noninterest income for the second quarter of 2026 was $3.0 million, a decrease of $1.3 million from $4.3 million for the first quarter of 2026. The decrease in noninterest income was mainly due to lower gains from OREO of $1.1 million, and lower other income of $870,000, offset partially by higher gain on sale of loans of $640,000. The net loss on OREO was $221,000 in the second quarter compared to the net gain on OREO of $890,000 in the first quarter. The decrease in other income was due to the first quarter including a $484,000 recovery of a fully charged-off acquired loan and $360,000 of interest income on the tax refunds related to purchased federal tax credits; there were no similar items in the second quarter of 2026. The sale of $42.1 million of mortgage loans and $8.1 million of Small Business Administration (“SBA”) loans resulted in gains of $964,000 for the second quarter of 2026 compared to the sale of mortgage loans of $4.9 million and SBA loans of $4.0 million for gains of $324,000 for the first quarter of 2026.

 

Noninterest Expense 

 

Noninterest expense for the second quarter of 2026 was $19.0 million, a decrease of $236,000 from $19.3 million for the first quarter of 2026. The decrease was mainly due to lower salaries and employee benefits of $216,000 due mostly to lower payroll taxes. The efficiency ratio was 57.46% for the second quarter of 2026, compared to 55.41% for the first quarter of 2026. The increase in the efficiency ratio is attributed mostly to lower net revenues.

 

2

 

 

Income Taxes 

 

The effective tax rate was 28.0% for both the second and first quarters of 2026. The effective tax rate for 2026 is estimated to be 28.0% compared to 24.2% for 2025. The estimated effective tax rate for 2026 is expected to be higher than the effective tax rate in 2025 due to a higher multi-state blended tax rate and lower benefits from purchased Federal tax credits.

 

Balance Sheet

 

At June 30, 2026, total assets were $4.3 billion, an $80.7 million, or 8% annualized, increase compared to total assets of $4.2 billion at March 31, 2026, and a $185.0 million, or 4.5%, increase compared to total assets of $4.1 billion at June 30, 2025.

 

Loan and Securities Portfolio

 

Loans held for investment ("HFI") totaled $3.3 billion as of June 30, 2026, a decrease of $15.8 million, or 1.9% annualized, compared to March 31, 2026 and an increase of $74.8 million, or 2.3%, compared to June 30, 2025. The decrease in loans in the second quarter of 2026 included payoffs/paydowns of $149.9 million, loans sold of $50.2 million, and $19.4 million transferred to OREO, offset by $158.9 million of originations with an average yield of 6.31%, $38.9 million in advances, and $6.0 million in purchases. The loan to deposit ratio was 97.6% at June 30, 2026, compared to 99.6% at March 31, 2026 and 101.5% at June 30, 2025. 

 

As of June 30, 2026, available for sale securities ("AFS") totaled $407.2 million, a decrease of $8.6 million from March 31, 2026, primarily related to maturities and paydowns of $63.3 million, offset by purchases of $55.0 million during the second quarter of 2026. As of June 30, 2026, net unrealized pre-tax losses totaled $20.9 million, a $0.5 million increase due to changes in market interest rates when compared to net unrealized pre-tax losses of $20.4 million as of March 31, 2026.

 

Deposits

 

Total deposits were $3.4 billion as of June 30, 2026, an increase of $50.8 million, or 6.1% annualized, compared to March 31, 2026 and an increase of $202.4 million, or 6.3%, compared to June 30, 2025. The increase in total deposits during the second quarter of 2026 was due to a $94.4 million increase in retail deposits, offset by a $43.6 million decrease in wholesale deposits. The increase in retail deposits included a $64.7 million increase in demand deposits and a $15.5 million increase in non-maturity interest-bearing accounts. Noninterest-bearing deposits totaled $591.6 million, or 17.5% of total deposits, at June 30, 2026, an increase of $64.7 million compared to March 31, 2026, and an increase of $47.7 million compared to June 30, 2025.

 

Credit Quality 

 

Nonperforming assets totaled $43.6 million, or 1.02% of total assets, at June 30, 2026, down from $48.8 million, or 1.16% of total assets, at March 31, 2026, and down from $61.0 million, or 1.49% of total assets, at June 30, 2025. The decrease in nonperforming assets during the second quarter of 2026 included a decrease of $20.8 million in nonperforming loans partially offset by an increase of $15.6 million in OREO (included in “accrued interest and other assets”) to $19.8 million at June 30, 2026. OREO totaled $4.3 million at March 31, 2026, and $4.2 million at June 30, 2025. The increase in OREO during the second quarter of 2026 was primarily due to the transfer of one nonperforming construction loan to OREO, offset by the sale of the existing OREO properties for a net loss. 

 

Nonperforming loans (“NPLs”) totaled $23.8 million, or 0.72% of total loans, at June 30, 2026, down $20.8 million from $44.6 million, or 1.34% of total loans, at March 31, 2026 and down $33.0 million from $56.8 million, or 1.76% of total loans, at June 30, 2025. The $20.8 million decrease in NPLs during the second quarter of 2026 was due to $19.4 million transferred to OREO, $1.3 million in payoffs/paydowns and $1.3 million upgraded to performing, partially offset by additions of $1.2 million. 

 

Substandard loans totaled $61.5 million, or 1.86% of total loans, at June 30, 2026, down from $72.5 million, or 2.18% of total loans, at March 31, 2026 and $91.0 million, or 2.81% of total loans, at June 30, 2025. The $11.0 million decrease in substandard loans during the second quarter of 2026 was primarily due to $19.4 million transferred to OREO and $4.2 million in payoffs/paydowns, partially offset by additions of $12.6 million. Of the total substandard loans outstanding at June 30, 2026, there were $37.8 million, or 61% of such loans, on accrual status.

 

Special mention loans totaled $20.3 million, or 0.61% of total loans, at June 30, 2026, down from $24.8 million, or 0.75% of total loans, at March 31, 2026, and down from $91.3 million, or 2.82% of total loans, at June 30, 2025. The $4.5 million decrease for the second quarter of 2026 was primarily due to payoffs/paydowns of $3.8 million, downgrades to substandard-rated loans of $1.8 million, and upgrades of $0.4 million to pass-rated loans, partially offset by additions of $1.5 million. As of June 30, 2026, all special mention loans were paying current.

 

30-89 day delinquent loans, excluding nonperforming loans, totaled $9.0 million, or 0.27% of total loans, at June 30, 2026, up from $7.9 million, or 0.24% of total loans, at March 31, 2026, and down from $18.0 million, or 0.56% of total loans, at June 30, 2025. The $1.1 million increase for the second quarter of 2026 was mainly due to $6.5 million in new delinquent loans, offset by $4.8 million in loans returning to current status and $0.6 million in loans which migrated to nonperforming. 

 

3

 

 

As of June 30, 2026, the allowance for credit losses totaled $44.1 million and was comprised of an allowance for loan losses of $43.7 million and a reserve for unfunded loan commitments of $407,000 (included in “accrued interest and other liabilities”). This compares to the allowance for credit losses of $44.2 million, comprised of an allowance for loan losses of $43.7 million and a reserve for unfunded loan commitments of $484,000 at March 31, 2026. The $83,000 decrease in the allowance for credit losses for the second quarter of 2026 was due to net charge-offs of $83,000. The allowance for loan losses as a percentage of loans HFI totaled 1.32% at June 30, 2026, compared to 1.31% at March 31, 2026. The allowance for loan losses as a percentage of nonperforming loans HFI was 183.76% at June 30, 2026, up from 97.98% at March 31, 2026. 

 

 
  
  
 
 For the Three Months Ended June 30, 2026

 
  
  
 
 For the Six Months Ended June 30, 2026

 
  
 

 
 
 (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

 
  
 $
 43,666
  
  
 $
 484
  
  
 $
 44,150
  
  
 $
 43,888
  
  
 $
 484
  
  
 $
 44,372
  
 

 
 
 Provision for/(reversal of) credit losses

 
  
  
 77
  
  
  
 (77
 )
  
  
 —
  
  
  
 (123
 )
  
  
 (77
 )
  
  
 (200
 )
 

 
 
 Less loans charged-off

 
  
  
 (119
 )
  
  
 —
  
  
  
 (119
 )
  
  
 (146
 )
  
  
 —
  
  
  
 (146
 )
 

 
 
 Recoveries on loans charged-off

 
  
  
 36
  
  
  
 —
  
  
  
 36
  
  
  
 41
  
  
  
 —
  
  
  
 41
  
 

 
 
 Ending balance

 
  
 $
 43,660
  
  
 $
 407
  
  
 $
 44,067
  
  
 $
 43,660
  
  
 $
 407
  
  
 $
 44,067
  
 

 

Shareholders' Equity

 

At June 30, 2026, total shareholders' equity was $535.2 million, a $4.1 million increase compared to March 31, 2026, and a $17.5 million increase compared to June 30, 2025. The increase in shareholders' equity for the second quarter of 2026 was due mostly to net income of $10.1 million and stock-based compensation activity of $1.6 million, offset by common stock repurchases of $4.5 million and common stock cash dividends paid of $2.8 million. On June 15, 2026, the Company announced a new common stock repurchase plan providing for the repurchase of up to 1 million shares of the Company's outstanding common stock through June 30, 2028. 

 

Dividend Announcement

 

The Board of Directors has declared a quarterly cash dividend of $0.16 per common share. The dividend is payable on August 11, 2026 to shareholders of record on July 31, 2026.

 

Subordinated Notes Redemption

 

On July 1, 2026, the Company redeemed $40.0 million in aggregate principal amount of its outstanding 4.00% Fixed-to-Floating Rate Subordinated Notes due 2031, originally issued on March 26, 2021 (the “Notes”). On April 1, 2026, the fixed interest rate of 4.00% on the Notes reset to a floating rate equal to three-month term SOFR plus a spread of 329 basis points, which equaled 6.98%, on that date. The Notes were redeemed at a cash redemption price equal to 100% of the aggregate principal amount of the Notes being redeemed, plus accrued and unpaid interest thereon, but excluding the redemption date of July 1, 2026, or approximately $40.7 million in aggregate. Upon completion of this $40.0 million redemption, $80.0 million aggregate principal amount of the Notes remain outstanding and the interest rate reset on July 1, 2026 to 7.02%.

 

 
  
 
 Contact: 

 Lynn Hopkins, Chief Financial Officer

 
 

 
  
 
 (213) 716-8066

 
 

 
  
 [email protected]
 

 

 

4

 

 

Corporate Overview 

 

RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California. As of June 30, 2026, the Company had total assets of $4.3 billion. Its wholly-owned subsidiary, Royal Business Bank, is a full service commercial bank, which provides consumer and business banking services predominately to the Asian-centric communities through 24 branches located in six states including California, Nevada, New York, Illinois, New Jersey and Hawaii. Bank services include remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, 1-4 single family residential loans, trade finance, a full range of depository account products and wealth management services. The Bank has nine branches in Los Angeles County, two branches in Ventura County, and one branch in Orange County, California; one branch in Las Vegas, Nevada; three branches and one loan operation center in Brooklyn, three branches in Queens, and one branch in Manhattan in New York; one branch in Edison, New Jersey; two branches in Chicago, Illinois; and, one branch in Honolulu, Hawaii. The Company's administrative and lending center is located at 1055 Wilshire Blvd., Los Angeles, California 90017, and its operations center is located at 7025 Orangethorpe Ave., Buena Park, California 90621. The Company's website address is www.royalbusinessbankusa.com.

 

Conference Call 

 

Management will hold a conference call at 11:00 a.m. Pacific time/2:00 p.m. Eastern time on Tuesday, July 21, 2026, to discuss the Company’s second 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 631029, conference ID RBBQ226. A replay of the call will be made available at 1-877-481-4010 or 1-919-882-2331, the passcode is 54229, approximately one hour after the conclusion of the call and will remain available through August 4, 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.

 

5

 

 

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.

 

6

 

 

RBB BANCORP AND SUBSIDIARIES 

CONDENSED CONSOLIDATED BALANCE SHEETS 

(Unaudited) 

(Dollars in thousands) 

 

 
  
  
 
 June 30,

 
  
  
 
 March 31,

 
  
  
 
 December 31,

 
  
  
 
 September 30,

 
  
  
 
 June 30,

 
  
 

 
  
  
 
 2026

 
  
  
 
 2026

 
  
  
 
 2025

 
  
  
 
 2025

 
  
  
 
 2025

 
  
 

 
 
 Assets

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Cash and due from banks

 
  
 $
 25,363
  
  
 $
 23,893
  
  
 $
 27,086
  
  
 $
 24,251
  
  
 $
 27,338
  
 

 
 
 Interest-earning deposits with financial institutions

 
  
  
 257,652
  
  
  
 173,017
  
  
  
 185,231
  
  
  
 210,679
  
  
  
 164,514
  
 

 
 
 Cash and cash equivalents

 
  
  
 283,015
  
  
  
 196,910
  
  
  
 212,317
  
  
  
 234,930
  
  
  
 191,852
  
 

 
 
 Interest-earning time deposits with financial institutions

 
  
  
 600
  
  
  
 600
  
  
  
 600
  
  
  
 600
  
  
  
 600
  
 

 
 
 Investment securities available for sale

 
  
  
 407,160
  
  
  
 415,789
  
  
  
 407,204
  
  
  
 410,631
  
  
  
 413,142
  
 

 
 
 Investment securities held to maturity

 
  
  
 4,181
  
  
  
 4,182
  
  
  
 4,184
  
  
  
 4,185
  
  
  
 4,186
  
 

 
 
 Loans held for sale

 
  
  
 —
  
  
  
 —
  
  
  
 2,067
  
  
  
 756
  
  
  
 —
  
 

 
 
 Loans held for investment

 
  
  
 3,309,459
  
  
  
 3,325,232
  
  
  
 3,314,301
  
  
  
 3,302,577
  
  
  
 3,234,695
  
 

 
 
 Allowance for loan losses

 
  
  
 (43,660
 )
  
  
 (43,666
 )
  
  
 (43,888
 )
  
  
 (44,892
 )
  
  
 (51,014
 )
 

 
 
 Net loans held for investment

 
  
  
 3,265,799
  
  
  
 3,281,566
  
  
  
 3,270,413
  
  
  
 3,257,685
  
  
  
 3,183,681
  
 

 
 
 Premises and equipment, net

 
  
  
 22,868
  
  
  
 23,204
  
  
  
 23,540
  
  
  
 23,851
  
  
  
 23,945
  
 

 
 
 Federal Home Loan Bank (FHLB) stock

 
  
  
 15,000
  
  
  
 15,000
  
  
  
 15,000
  
  
  
 15,000
  
  
  
 15,000
  
 

 
 
 Cash surrender value of bank owned life insurance

 
  
  
 62,841
  
  
  
 62,403
  
  
  
 61,972
  
  
  
 61,538
  
  
  
 61,111
  
 

 
 
 Goodwill

 
  
  
 71,498
  
  
  
 71,498
  
  
  
 71,498
  
  
  
 71,498
  
  
  
 71,498
  
 

 
 
 Servicing assets

 
  
  
 5,864
  
  
  
 5,834
  
  
  
 6,041
  
  
  
 6,252
  
  
  
 6,482
  
 

 
 
 Core deposit intangibles

 
  
  
 1,078
  
  
  
 1,204
  
  
  
 1,338
  
  
  
 1,495
  
  
  
 1,667
  
 

 
 
 Right-of-use assets

 
  
  
 22,068
  
  
  
 22,601
  
  
  
 23,026
  
  
  
 24,305
  
  
  
 25,554
  
 

 
 
 Accrued interest and other assets

 
  
  
 113,030
  
  
  
 93,521
  
  
  
 109,094
  
  
  
 95,729
  
  
  
 91,322
  
 

 
 
 Total assets

 
  
 $
 4,275,002
  
  
 $
 4,194,312
  
  
 $
 4,208,294
  
  
 $
 4,208,455
  
  
 $
 4,090,040
  
 

 
 
 Liabilities and shareholders' equity

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Deposits:

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Noninterest-bearing demand

 
  
 $
 591,556
  
  
 $
 526,882
  
  
 $
 526,538
  
  
 $
 550,488
  
  
 $
 543,885
  
 

 
 
 Savings, NOW and money market accounts

 
  
  
 1,191,198
  
  
  
 1,175,735
  
  
  
 956,299
  
  
  
 721,697
  
  
  
 691,679
  
 

 
 
 Time deposits, $250,000 and under

 
  
  
 815,528
  
  
  
 863,717
  
  
  
 974,670
  
  
  
 1,119,258
  
  
  
 1,010,674
  
 

 
 
 Time deposits, greater than $250,000

 
  
  
 792,359
  
  
  
 773,550
  
  
  
 892,891
  
  
  
 975,054
  
  
  
 941,993
  
 

 
 
 Total deposits

 
  
  
 3,390,641
  
  
  
 3,339,884
  
  
  
 3,350,398
  
  
  
 3,366,497
  
  
  
 3,188,231
  
 

 
 
 FHLB advances

 
  
  
 160,000
  
  
  
 130,000
  
  
  
 130,000
  
  
  
 130,000
  
  
  
 180,000
  
 

 
 
 Long-term debt, net of issuance costs

 
  
  
 120,000
  
  
  
 120,000
  
  
  
 119,911
  
  
  
 119,815
  
  
  
 119,720
  
 

 
 
 Subordinated debentures

 
  
  
 15,484
  
  
  
 15,429
  
  
  
 15,375
  
  
  
 15,320
  
  
  
 15,265
  
 

 
 
 Lease liabilities - operating leases

 
  
  
 23,836
  
  
  
 24,379
  
  
  
 24,800
  
  
  
 26,066
  
  
  
 27,294
  
 

 
 
 Accrued interest and other liabilities

 
  
  
 29,864
  
  
  
 33,566
  
  
  
 44,400
  
  
  
 36,422
  
  
  
 41,877
  
 

 
 
 Total liabilities

 
  
  
 3,739,825
  
  
  
 3,663,258
  
  
  
 3,684,884
  
  
  
 3,694,120
  
  
  
 3,572,387
  
 

 
 
 Shareholders' equity:

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Common stock

 
  
  
 250,590
  
  
  
 251,050
  
  
  
 250,694
  
  
  
 250,362
  
  
  
 259,863
  
 

 
 
 Additional paid-in capital

 
  
  
 3,004
  
  
  
 3,649
  
  
  
 3,941
  
  
  
 3,734
  
  
  
 3,579
  
 

 
 
 Retained earnings

 
  
  
 296,119
  
  
  
 290,566
  
  
  
 282,024
  
  
  
 274,608
  
  
  
 270,152
  
 

 
 
 Non-controlling interest

 
  
  
 72
  
  
  
 72
  
  
  
 72
  
  
  
 72
  
  
  
 72
  
 

 
 
 Accumulated other comprehensive loss, net

 
  
  
 (14,608
 )
  
  
 (14,283
 )
  
  
 (13,321
 )
  
  
 (14,441
 )
  
  
 (16,013
 )
 

 
 
 Total shareholders' equity

 
  
  
 535,177
  
  
  
 531,054
  
  
  
 523,410
  
  
  
 514,335
  
  
  
 517,653
  
 

 
 
 Total liabilities and shareholders’ equity

 
  
 $
 4,275,002
  
  
 $
 4,194,312
  
  
 $
 4,208,294
  
  
 $
 4,208,455
  
  
 $
 4,090,040
  
 

 

7

 

 

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, 2026

 
  
  
 
 March 31, 2026

 
  
  
 
 June 30, 2025

 
  
  
 
 June 30, 2026

 
  
  
 
 June 30, 2025

 
  
 

 
 
 Interest and dividend income:

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Interest and fees on loans

 
  
 $
 50,663
  
  
 $
 49,938
  
  
 $
 47,687
  
  
 $
 100,601
  
  
 $
 93,308
  
 

 
 
 Interest on interest-earning deposits

 
  
  
 1,708
  
  
  
 1,883
  
  
  
 1,750
  
  
  
 3,591
  
  
  
 3,764
  
 

 
 
 Interest on investment securities

 
  
  
 4,259
  
  
  
 3,969
  
  
  
 4,213
  
  
  
 8,228
  
  
  
 8,349
  
 

 
 
 Dividend income on FHLB stock

 
  
  
 222
  
  
  
 760
  
  
  
 324
  
  
  
 982
  
  
  
 654
  
 

 
 
 Interest on federal funds sold and other

 
  
  
 307
  
  
  
 253
  
  
  
 231
  
  
  
 560
  
  
  
 466
  
 

 
 
 Total interest and dividend income

 
  
  
 57,159
  
  
  
 56,803
  
  
  
 54,205
  
  
  
 113,962
  
  
  
 106,541
  
 

 
 
 Interest expense:

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Interest on savings deposits, NOW and money market accounts

 
  
  
 9,197
  
  
  
 7,347
  
  
  
 4,567
  
  
  
 16,544
  
  
  
 9,035
  
 

 
 
 Interest on time deposits

 
  
  
 14,397
  
  
  
 16,221
  
  
  
 19,250
  
  
  
 30,618
  
  
  
 38,334
  
 

 
 
 Interest on long-term debt and subordinated debentures

 
  
  
 2,428
  
  
  
 1,599
  
  
  
 1,634
  
  
  
 4,027
  
  
  
 3,266
  
 

 
 
 Interest on FHLB advances

 
  
  
 1,051
  
  
  
 1,133
  
  
  
 1,420
  
  
  
 2,184
  
  
  
 2,409
  
 

 
 
 Total interest expense

 
  
  
 27,073
  
  
  
 26,300
  
  
  
 26,871
  
  
  
 53,373
  
  
  
 53,044
  
 

 
 
 Net interest income before (reversal of)/provision for credit losses

 
  
  
 30,086
  
  
  
 30,503
  
  
  
 27,334
  
  
  
 60,589
  
  
  
 53,497
  
 

 
 
 (Reversal of)/provision for credit losses

 
  
  
 —
  
  
  
 (200
 )
  
  
 2,387
  
  
  
 (200
 )
  
  
 9,133
  
 

 
 
 Net interest income after (reversal of)/provision for credit losses

 
  
  
 30,086
  
  
  
 30,703
  
  
  
 24,947
  
  
  
 60,789
  
  
  
 44,364
  
 

 
 
 Noninterest income:

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Service charges and fees

 
  
  
 1,104
  
  
  
 1,032
  
  
  
 1,060
  
  
  
 2,136
  
  
  
 2,077
  
 

 
 
 Gain on sale of loans

 
  
  
 964
  
  
  
 324
  
  
  
 358
  
  
  
 1,288
  
  
  
 439
  
 

 
 
 Loan servicing fees, net of amortization

 
  
  
 533
  
  
  
 504
  
  
  
 541
  
  
  
 1,037
  
  
  
 1,129
  
 

 
 
 Increase in cash surrender value of life insurance

 
  
  
 438
  
  
  
 431
  
  
  
 411
  
  
  
 869
  
  
  
 814
  
 

 
 
 (Loss)/gain on OREO

 
  
  
 (221
 )
  
  
 890
  
  
  
 —
  
  
  
 669
  
  
  
 —
  
 

 
 
 Other income

 
  
  
 200
  
  
  
 1,070
  
  
  
 6,108
  
  
  
 1,270
  
  
  
 6,314
  
 

 
 
 Total noninterest income

 
  
  
 3,018
  
  
  
 4,251
  
  
  
 8,478
  
  
  
 7,269
  
  
  
 10,773
  
 

 
 
 Noninterest expense:

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Salaries and employee benefits

 
  
  
 11,045
  
  
  
 11,261
  
  
  
 11,080
  
  
  
 22,306
  
  
  
 21,723
  
 

 
 
 Occupancy and equipment expenses

 
  
  
 2,449
  
  
  
 2,511
  
  
  
 2,377
  
  
  
 4,960
  
  
  
 4,784
  
 

 
 
 Data processing

 
  
  
 1,690
  
  
  
 1,708
  
  
  
 1,713
  
  
  
 3,398
  
  
  
 3,315
  
 

 
 
 Legal and professional

 
  
  
 1,311
  
  
  
 1,503
  
  
  
 2,904
  
  
  
 2,814
  
  
  
 4,419
  
 

 
 
 Office expenses

 
  
  
 377
  
  
  
 359
  
  
  
 405
  
  
  
 736
  
  
  
 813
  
 

 
 
 Marketing and business promotion

 
  
  
 178
  
  
  
 215
  
  
  
 212
  
  
  
 393
  
  
  
 409
  
 

 
 
 Insurance and regulatory assessments

 
  
  
 746
  
  
  
 749
  
  
  
 709
  
  
  
 1,495
  
  
  
 1,439
  
 

 
 
 Core deposit premium

 
  
  
 127
  
  
  
 134
  
  
  
 172
  
  
  
 261
  
  
  
 344
  
 

 
 
 Other expenses

 
  
  
 1,099
  
  
  
 818
  
  
  
 921
  
  
  
 1,917
  
  
  
 1,769
  
 

 
 
 Total noninterest expense

 
  
  
 19,022
  
  
  
 19,258
  
  
  
 20,493
  
  
  
 38,280
  
  
  
 39,015
  
 

 
 
 Income before income taxes

 
  
  
 14,082
  
  
  
 15,696
  
  
  
 12,932
  
  
  
 29,778
  
  
  
 16,122
  
 

 
 
 Income tax expense

 
  
  
 3,942
  
  
  
 4,396
  
  
  
 3,599
  
  
  
 8,338
  
  
  
 4,499
  
 

 
 
 Net income

 
  
 $
 10,140
  
  
 $
 11,300
  
  
 $
 9,333
  
  
 $
 21,440
  
  
 $
 11,623
  
 

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Net income per share

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Basic

 
  
 $
 0.60
  
  
 $
 0.66
  
  
 $
 0.53
  
  
 $
 1.26
  
  
 $
 0.66
  
 

 
 
 Diluted

 
  
 $
 0.59
  
  
 $
 0.66
  
  
 $
 0.52
  
  
 $
 1.25
  
  
 $
 0.65
  
 

 
 
 Cash dividends declared per common share

 
  
 $
 0.16
  
  
 $
 0.16
  
  
 $
 0.16
  
  
 $
 0.32
  
  
 $
 0.32
  
 

 
 
 Weighted-average common shares outstanding

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Basic

 
  
  
 17,011,624
  
  
  
 17,063,757
  
  
  
 17,746,607
  
  
  
 17,037,546
  
  
  
 17,737,212
  
 

 
 
 Diluted

 
  
  
 17,141,742
  
  
  
 17,174,526
  
  
  
 17,797,735
  
  
  
 17,158,043
  
  
  
 17,784,237
  
 

 

8

 

 

RBB BANCORP AND SUBSIDIARIES

AVERAGE BALANCE SHEET AND NET INTEREST INCOME 

(Unaudited) 

 

 
  
  
 
 For the Three Months Ended

 
  
 

 
  
  
 
 June 30, 2026

 
  
  
 
 March 31, 2026

 
  
  
 
 June 30, 2025

 
  
 

 
  
  
 
 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)

 
  
 $
 194,256
  
  
 $
 2,015
  
  
  
 4.16
 %
  
 $
 215,930
  
  
 $
 2,136
  
  
  
 4.01
 %
  
 $
 163,838
  
  
 $
 1,980
  
  
  
 4.85
 %
 

 
 
 FHLB Stock

 
  
  
 15,000
  
  
  
 222
  
  
  
 5.94
 %
  
  
 15,000
  
  
  
 760
  
  
  
 20.55
 %
  
  
 15,000
  
  
  
 324
  
  
  
 8.66
 %
 

 
 
 Securities

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Available for sale (2)

 
  
  
 419,191
  
  
  
 4,245
  
  
  
 4.06
 %
  
  
 404,610
  
  
  
 3,955
  
  
  
 3.96
 %
  
  
 399,414
  
  
  
 4,189
  
  
  
 4.21
 %
 

 
 
 Held to maturity (2)

 
  
  
 4,182
  
  
  
 38
  
  
  
 3.64
 %
  
  
 4,183
  
  
  
 38
  
  
  
 3.68
 %
  
  
 5,028
  
  
  
 48
  
  
  
 3.83
 %
 

 
 
 Total loans (3)

 
  
  
 3,315,864
  
  
  
 50,663
  
  
  
 6.13
 %
  
  
 3,296,165
  
  
  
 49,938
  
  
  
 6.14
 %
  
  
 3,171,570
  
  
  
 47,687
  
  
  
 6.03
 %
 

 
 
 Total interest-earning assets

 
  
  
 3,948,493
  
  
 $
 57,183
  
  
  
 5.81
 %
  
  
 3,935,888
  
  
 $
 56,827
  
  
  
 5.86
 %
  
  
 3,754,850
  
  
 $
 54,228
  
  
  
 5.79
 %
 

 
 
 Total noninterest-earning assets

 
  
  
 262,546
  
  
  
  
  
  
  
  
  
  
  
 268,010
  
  
  
  
  
  
  
  
  
  
  
 254,029
  
  
  
  
  
  
  
  
  
 

 
 
 Total average assets

 
  
 $
 4,211,039
  
  
  
  
  
  
  
  
  
  
 $
 4,203,898
  
  
  
  
  
  
  
  
  
  
 $
 4,008,879
  
  
  
  
  
  
  
  
  
 

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Interest-bearing liabilities

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 NOW

 
  
 $
 83,681
  
  
 $
 478
  
  
  
 2.29
 %
  
 $
 73,637
  
  
 $
 398
  
  
  
 2.19
 %
  
 $
 66,755
  
  
 $
 368
  
  
  
 2.21
 %
 

 
 
 Money market

 
  
  
 556,084
  
  
  
 4,189
  
  
  
 3.02
 %
  
  
 529,013
  
  
  
 3,795
  
  
  
 2.91
 %
  
  
 482,669
  
  
  
 3,774
  
  
  
 3.14
 %
 

 
 
 Savings deposits

 
  
  
 589,187
  
  
  
 4,529
  
  
  
 3.08
 %
  
  
 441,123
  
  
  
 3,154
  
  
  
 2.90
 %
  
  
 141,411
  
  
  
 425
  
  
  
 1.21
 %
 

 
 
 Time deposits, $250,000 and under

 
  
  
 837,026
  
  
  
 7,322
  
  
  
 3.51
 %
  
  
 926,226
  
  
  
 8,313
  
  
  
 3.64
 %
  
  
 996,249
  
  
  
 9,768
  
  
  
 3.93
 %
 

 
 
 Time deposits, greater than $250,000

 
  
  
 768,027
  
  
  
 7,076
  
  
  
 3.70
 %
  
  
 845,786
  
  
  
 7,908
  
  
  
 3.79
 %
  
  
 922,540
  
  
  
 9,482
  
  
  
 4.12
 %
 

 
 
 Total interest-bearing deposits

 
  
  
 2,834,005
  
  
  
 23,594
  
  
  
 3.34
 %
  
  
 2,815,785
  
  
  
 23,568
  
  
  
 3.39
 %
  
  
 2,609,624
  
  
  
 23,817
  
  
  
 3.66
 %
 

 
 
 FHLB advances

 
  
  
 116,813
  
  
  
 1,051
  
  
  
 3.61
 %
  
  
 130,000
  
  
  
 1,133
  
  
  
 3.53
 %
  
  
 159,286
  
  
  
 1,420
  
  
  
 3.58
 %
 

 
 
 Long-term debt

 
  
  
 120,000
  
  
  
 2,118
  
  
  
 7.08
 %
  
  
 119,945
  
  
  
 1,289
  
  
  
 4.36
 %
  
  
 119,657
  
  
  
 1,296
  
  
  
 4.34
 %
 

 
 
 Subordinated debentures

 
  
  
 15,448
  
  
  
 310
  
  
  
 8.05
 %
  
  
 15,394
  
  
  
 310
  
  
  
 8.17
 %
  
  
 15,230
  
  
  
 338
  
  
  
 8.90
 %
 

 
 
 Total borrowings

 
  
  
 252,261
  
  
  
 3,479
  
  
  
 5.53
 %
  
  
 265,339
  
  
  
 2,732
  
  
  
 4.18
 %
  
  
 294,173
  
  
  
 3,054
  
  
  
 4.16
 %
 

 
 
 Total interest-bearing liabilities

 
  
  
 3,086,266
  
  
  
 27,073
  
  
  
 3.52
 %
  
  
 3,081,124
  
  
  
 26,300
  
  
  
 3.46
 %
  
  
 2,903,797
  
  
  
 26,871
  
  
  
 3.71
 %
 

 
 
 Noninterest-bearing liabilities

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Noninterest-bearing deposits

 
  
  
 535,756
  
  
  
  
  
  
  
  
  
  
  
 526,151
  
  
  
  
  
  
  
  
  
  
  
 526,113
  
  
  
  
  
  
  
  
  
 

 
 
 Other noninterest-bearing liabilities

 
  
  
 56,608
  
  
  
  
  
  
  
  
  
  
  
 67,241
  
  
  
  
  
  
  
  
  
  
  
 65,278
  
  
  
  
  
  
  
  
  
 

 
 
 Total noninterest-bearing liabilities

 
  
  
 592,364
  
  
  
  
  
  
  
  
  
  
  
 593,392
  
  
  
  
  
  
  
  
  
  
  
 591,391
  
  
  
  
  
  
  
  
  
 

 
 
 Shareholders' equity

 
  
  
 532,409
  
  
  
  
  
  
  
  
  
  
  
 529,382
  
  
  
  
  
  
  
  
  
  
  
 513,691
  
  
  
  
  
  
  
  
  
 

 
 
 Total liabilities and shareholders' equity

 
  
 $
 4,211,039
  
  
  
  
  
  
  
  
  
  
 $
 4,203,898
  
  
  
  
  
  
  
  
  
  
 $
 4,008,879
  
  
  
  
  
  
  
  
  
 

 
 
 Net interest income / interest rate spreads

 
  
  
  
  
  
 $
 30,110
  
  
  
 2.29
 %
  
  
  
  
  
 $
 30,527
  
  
  
 2.40
 %
  
  
  
  
  
 $
 27,357
  
  
  
 2.08
 %
 

 
 
 Net interest margin

 
  
  
  
  
  
  
  
  
  
  
 3.06
 %
  
  
  
  
  
  
  
  
  
  
 3.15
 %
  
  
  
  
  
  
  
  
  
  
 2.92
 %
 

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Total cost of deposits

 
  
 $
 3,369,761
  
  
 $
 23,594
  
  
  
 2.81
 %
  
 $
 3,341,936
  
  
 $
 23,568
  
  
  
 2.86
 %
  
 $
 3,135,737
  
  
 $
 23,817
  
  
  
 3.05
 %
 

 
 
 Total cost of funds

 
  
 $
 3,622,022
  
  
 $
 27,073
  
  
  
 3.00
 %
  
 $
 3,607,275
  
  
 $
 26,300
  
  
  
 2.96
 %
  
 $
 3,429,910
  
  
 $
 26,871
  
  
  
 3.14
 %
 

 

 
 
 (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.

 
 

 

 

9

 

RBB BANCORP AND SUBSIDIARIES

AVERAGE BALANCE SHEET AND NET INTEREST INCOME 

(Unaudited)

 

 
  
  
 
 For the Six Months Ended June 30,

 
  
 

 
  
  
 
 2026

 
  
  
 
 2025

 
  
 

 
  
  
 
 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)

 
  
 $
 205,033
  
  
 $
 4,151
  
  
  
 4.08
 %
  
 $
 178,953
  
  
 $
 4,230
  
  
  
 4.77
 %
 

 
 
 FHLB Stock

 
  
  
 15,000
  
  
  
 982
  
  
  
 13.20
 %
  
  
 15,000
  
  
  
 654
  
  
  
 8.79
 %
 

 
 
 Securities

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Available for sale (2)

 
  
  
 411,941
  
  
  
 8,200
  
  
  
 4.01
 %
  
  
 394,822
  
  
  
 8,302
  
  
  
 4.24
 %
 

 
 
 Held to maturity (2)

 
  
  
 4,182
  
  
  
 76
  
  
  
 3.66
 %
  
  
 5,108
  
  
  
 97
  
  
  
 3.83
 %
 

 
 
 Total loans (3)

 
  
  
 3,306,068
  
  
  
 100,601
  
  
  
 6.14
 %
  
  
 3,125,652
  
  
  
 93,308
  
  
  
 6.02
 %
 

 
 
 Total interest-earning assets

 
  
  
 3,942,224
  
  
 $
 114,010
  
  
  
 5.83
 %
  
  
 3,719,535
  
  
 $
 106,591
  
  
  
 5.78
 %
 

 
 
 Total noninterest-earning assets

 
  
  
 265,264
  
  
  
  
  
  
  
  
  
  
  
 257,250
  
  
  
  
  
  
  
  
  
 

 
 
 Total average assets

 
  
 $
 4,207,488
  
  
  
  
  
  
  
  
  
  
 $
 3,976,785
  
  
  
  
  
  
  
  
  
 

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Interest-bearing liabilities

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 NOW

 
  
 $
 78,687
  
  
 $
 877
  
  
  
 2.25
 %
  
 $
 64,004
  
  
 $
 689
  
  
  
 2.17
 %
 

 
 
 Money market

 
  
  
 542,623
  
  
  
 7,983
  
  
  
 2.97
 %
  
  
 473,109
  
  
  
 7,399
  
  
  
 3.15
 %
 

 
 
 Saving deposits

 
  
  
 515,564
  
  
  
 7,684
  
  
  
 3.01
 %
  
  
 148,225
  
  
  
 947
  
  
  
 1.29
 %
 

 
 
 Time deposits, $250,000 and under

 
  
  
 881,380
  
  
  
 15,634
  
  
  
 3.58
 %
  
  
 992,954
  
  
  
 19,815
  
  
  
 4.02
 %
 

 
 
 Time deposits, greater than $250,000

 
  
  
 806,692
  
  
  
 14,984
  
  
  
 3.75
 %
  
  
 893,832
  
  
  
 18,519
  
  
  
 4.18
 %
 

 
 
 Total interest-bearing deposits

 
  
  
 2,824,946
  
  
  
 47,162
  
  
  
 3.37
 %
  
  
 2,572,124
  
  
  
 47,369
  
  
  
 3.71
 %
 

 
 
 FHLB advances

 
  
  
 123,370
  
  
  
 2,184
  
  
  
 3.57
 %
  
  
 168,011
  
  
  
 2,409
  
  
  
 2.89
 %
 

 
 
 Long-term debt

 
  
  
 119,973
  
  
  
 3,407
  
  
  
 5.73
 %
  
  
 119,610
  
  
  
 2,591
  
  
  
 4.37
 %
 

 
 
 Subordinated debentures

 
  
  
 15,421
  
  
  
 620
  
  
  
 8.11
 %
  
  
 15,203
  
  
  
 675
  
  
  
 8.95
 %
 

 
 
 Total borrowings

 
  
  
 258,764
  
  
  
 6,211
  
  
  
 4.84
 %
  
  
 302,824
  
  
  
 5,675
  
  
  
 3.78
 %
 

 
 
 Total interest-bearing liabilities

 
  
  
 3,083,710
  
  
  
 53,373
  
  
  
 3.49
 %
  
  
 2,874,948
  
  
  
 53,044
  
  
  
 3.72
 %
 

 
 
 Noninterest-bearing liabilities

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Noninterest-bearing deposits

 
  
  
 530,980
  
  
  
  
  
  
  
  
  
  
  
 523,145
  
  
  
  
  
  
  
  
  
 

 
 
 Other noninterest-bearing liabilities

 
  
  
 61,895
  
  
  
  
  
  
  
  
  
  
  
 65,711
  
  
  
  
  
  
  
  
  
 

 
 
 Total noninterest-bearing liabilities

 
  
  
 592,875
  
  
  
  
  
  
  
  
  
  
  
 588,856
  
  
  
  
  
  
  
  
  
 

 
 
 Shareholders' equity

 
  
  
 530,903
  
  
  
  
  
  
  
  
  
  
  
 512,981
  
  
  
  
  
  
  
  
  
 

 
 
 Total liabilities and shareholders' equity

 
  
 $
 4,207,488
  
  
  
  
  
  
  
  
  
  
 $
 3,976,785
  
  
  
  
  
  
  
  
  
 

 
 
 Net interest income / interest rate spreads

 
  
  
  
  
  
 $
 60,637
  
  
  
 2.34
 %
  
  
  
  
  
 $
 53,547
  
  
  
 2.06
 %
 

 
 
 Net interest margin

 
  
  
  
  
  
  
  
  
  
  
 3.10
 %
  
  
  
  
  
  
  
  
  
  
 2.90
 %
 

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Total cost of deposits

 
  
 $
 3,355,926
  
  
 $
 47,162
  
  
  
 2.83
 %
  
 $
 3,095,269
  
  
 $
 47,369
  
  
  
 3.09
 %
 

 
 
 Total cost of funds

 
  
 $
 3,614,690
  
  
 $
 53,373
  
  
  
 2.98
 %
  
 $
 3,398,093
  
  
 $
 53,044
  
  
  
 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.

 
 

 

10

 

 

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,

 
  
  
  
  
  
  
  
  
  
 

 
  
  
 
 2026

 
  
  
 
 2026

 
  
  
 
 2025

 
  
  
 
 2026

 
  
  
 
 2025

 
  
 

 
 
 Per share data (common stock)

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Book value

 
  
 $
 31.51
  
  
 $
 31.10
  
  
 $
 29.25
  
  
 $
 31.51
  
  
 $
 29.25
  
 

 
 
 Tangible book value (1)

 
  
 $
 27.23
  
  
 $
 26.84
  
  
 $
 25.11
  
  
 $
 27.23
  
  
 $
 25.11
  
 

 
 
 Performance ratios

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Return on average assets, annualized

 
  
  
 0.97
 %
  
  
 1.09
 %
  
  
 0.93
 %
  
  
 1.03
 %
  
  
 0.59
 %
 

 
 
 Return on average shareholders' equity, annualized

 
  
  
 7.64
 %
  
  
 8.66
 %
  
  
 7.29
 %
  
  
 8.14
 %
  
  
 4.57
 %
 

 
 
 Return on average tangible common equity, annualized (1)

 
  
  
 8.85
 %
  
  
 10.04
 %
  
  
 8.50
 %
  
  
 9.44
 %
  
  
 5.33
 %
 

 
 
 Noninterest income to average assets, annualized

 
  
  
 0.29
 %
  
  
 0.41
 %
  
  
 0.85
 %
  
  
 0.35
 %
  
  
 0.55
 %
 

 
 
 Noninterest expense to average assets, annualized

 
  
  
 1.81
 %
  
  
 1.86
 %
  
  
 2.05
 %
  
  
 1.83
 %
  
  
 1.98
 %
 

 
 
 Yield on average earning assets

 
  
  
 5.81
 %
  
  
 5.86
 %
  
  
 5.79
 %
  
  
 5.83
 %
  
  
 5.78
 %
 

 
 
 Yield on average loans

 
  
  
 6.13
 %
  
  
 6.14
 %
  
  
 6.03
 %
  
  
 6.14
 %
  
  
 6.02
 %
 

 
 
 Cost of average total deposits (2)

 
  
  
 2.81
 %