Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-38149 RBB BANCORP (Exact name of registrant as specified in its charter) California 27-2776416 ...

Financial Data and Key Metrics Changes - First quarter net income declined to $2.3 million or $0.13 per share, primarily due to strategic actions taken to address non-performing assets [3] - Non-performing assets were reduced by 20% and net exposure to non-performing loans decreased by 32% to $51 million [3] - Net interest income before provisions increased for the third consecutive quarter to $26.2 million [8] - Net interest margin increased by 12 basis points to 2.88% due to a decline in the cost of interest-bearing deposits [6][10] Business Line Data and Key Metrics Changes - Loans held for investment grew by $90 million or 12% on an annualized basis, driven by growth in commercial, SBA, and SFR balances [5] - Total first quarter loan originations amounted to $201 million at a blended yield of 6.77% [6] - Non-interest income declined by $4.34 million to $2.3 million due to lower gains on the sale of loans [10] Market Data and Key Metrics Changes - Total deposits increased at an 8% annualized rate to $3.14 billion, with growth in money market accounts and CDs offsetting a decline in non-interest bearing accounts [13] - The loan portfolio yield remained stable at 6.03% [12] Company Strategy and Development Direction - The company is focusing on resolving non-performing loans quickly while minimizing the impact on earnings and capital [3] - There is an ongoing effort to reduce reliance on wholesale funding, with a successful CD campaign in the first quarter [46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in resolving remaining non-performing assets and expects to report additional progress in upcoming quarters [4] - The company anticipates continued loan growth, albeit at a more moderate pace than the first quarter [6] - Management believes that by the second half of 2025, there could be a target for reducing non-performing loans to a normal baseline [54] Other Important Information - The company’s tangible book value per share increased to $24.63 [13] - Capital ratios remain strong, with all capital ratios above regulatory well-capitalized levels [14] Q&A Session Summary Question: Thoughts on potential share repurchase - Management recognizes that a buyback is one of the best uses of excess capital and is working to put a buyback in place [19] Question: Dynamics within the margin and FHLB advances - The FHLB advances are fully priced into the March net interest margin, and the net interest margin is slightly below the quarter's average [21] Question: Margin drag from non-accrual loans - There is a drag on net interest margin from non-accrual loans, with $20 million potentially returning to accrual status [24] Question: Appetite for more problem loan sales - Management is open to sales but believes they are well reserved for future write-offs [29] Question: Exposure to tariff impacts - Management has reached out to top customers and does not observe any potential financial impact from tariffs at this time [34] Question: Loan growth expectations and deposit trends - Management expects to fund loan growth organically and noted some migration into higher-yielding products [46] Question: Non-interest expenses outlook - Management estimates operating expenses to be around $17.5 million to $18 million, with some moderation expected [66]

NASDAQ: RBB 2025 First Quarter Earnings Results April 28, 2025 Disclosure Statement This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often include the words "believes," "expects," "anticipates," "estimates," "forecasts," "intends," "plans," "targets," "potentially," "probably," "projects," "outlook" or similar expressions or future or conditional verbs such as "may," "will," "should," "would" and "cou ...

RBB (RBB) reported $28.46 million in revenue for the quarter ended March 2025, representing a year-over-year increase of 0.7%. EPS of $0.13 for the same period compares to $0.43 a year ago.The reported revenue represents a surprise of -1.11% over the Zacks Consensus Estimate of $28.78 million. With the consensus EPS estimate being $0.38, the EPS surprise was -65.79%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expecta ...

Exhibit 99.1 RBB Bancorp Reports First Quarter 2025 Earnings Los Angeles, CA, April 28, 2025 – RBB Bancorp (NASDAQ:RBB) and its subsidiaries, Royal Business Bank (the "Bank") and RBB Asset Management Company ("RAM"), collectively referred to herein as the "Company," announced financial results for the quarter ended March 31, 2025. First Quarter 2025 Highlights Net interest income was $26.2 million for the first quarter of 2025, compared to $26.0 million for the fourth quarter of 2024. The $186,000 increase ...

RBB (RBB) came out with quarterly earnings of $0.13 per share, missing the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.43 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -65.79%. A quarter ago, it was expected that this bank holding company would post earnings of $0.37 per share when it actually produced earnings of $0.25, delivering a surprise of -32.43%.Over the last four quarters, the compan ...

LOS ANGELES, April 28, 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 March 31, 2025. First Quarter 2025 Highlights Net income totaled $2.3 million, or $0.13 diluted earnings per shareReturn on average assets of 0.24%, compared to 0.44% for the quarter ended December 31, 2024Net interest margin expanded to 2.88 ...

Core Viewpoint - RBB Bancorp will release its financial results for the first quarter ended March 31, 2025, on April 28, 2025, after market close [1] Financial Results Announcement - A conference call to discuss the financial results will be held on April 29, 2025, at 11:00 a.m. Pacific Time [2] - Interested parties can listen to the call by dialing specific numbers or via a live webcast on the Company's website [3] Corporate Overview - RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California, with total assets of $4.0 billion as of December 31, 2024 [4] - The wholly-owned subsidiary, Royal Business Bank, provides a range of banking services primarily to Asian-centric communities across various locations in California, Nevada, New York, New Jersey, Illinois, and Hawaii [4] - The Bank operates multiple branches across these regions, including nine in Los Angeles County and additional branches in other states [4]

Financial Performance - For the year ended December 31, 2024, net earnings were $26.7 million, a decrease of $15.8 million, or 37.2%, from $42.5 million in 2023 due to a $19.9 million decrease in net interest income [271]. - Net interest income for 2024 was $99.4 million, down from $119.3 million in 2023, attributed to a $15.4 million increase in interest expense [282]. - Noninterest income increased slightly to $15.3 million in 2024 from $15.0 million in 2023 [282]. - The efficiency ratio for 2024 was 60.30%, compared to 52.64% in 2023, indicating a decline in operational efficiency [282]. - The provision for loan losses was $9.8 million in 2024, significantly higher than the $3.9 million in 2023, indicating a proactive approach to managing credit risk [366]. - Income tax expense dropped to $9.0 million in 2024, a 49.3% decrease from $17.8 million in 2023, with the effective tax rate falling to 25.3% [316]. Assets and Liabilities - Total assets as of December 31, 2024, were $4.0 billion, a decrease of $33.5 million, or 0.8%, from the previous year, primarily due to a $178.7 million decrease in interest-earning cash [272]. - Total liabilities decreased by $30.2 million, or 0.9%, to $3.5 billion at December 31, 2024, primarily due to a $91.0 million decrease in deposits [384]. - Total deposits decreased to $3.1 billion, down $91.0 million, or 2.9%, compared to the previous year, with a significant decrease in wholesale deposits [275]. - Cash and cash equivalents decreased by $173.6 million, or 40.3%, to $257.7 million as of December 31, 2024, from $431.4 million at December 31, 2023 [381]. Loans and Credit Quality - Loans held for investment (HFI) increased to $3.1 billion, up $21.4 million, or 0.7%, from $3.0 billion at December 31, 2023, driven by increases in commercial real estate and single-family residential mortgage loans [274]. - The allowance for loan losses (ALL) was $47.7 million, reflecting an increase of $5.8 million from $41.9 million in 2023, with a provision for loan losses of $9.8 million in 2024 compared to $3.9 million in 2023 [278]. - Nonperforming assets totaled $81.0 million, or 2.03% of total assets, at December 31, 2024, compared to $31.6 million, or 0.79% of total assets, at December 31, 2023, indicating a significant increase in nonperforming assets [373]. - The ratio of net charge-offs to average LHFI was 0.13% for 2024, compared to 0.10% in 2023, showing a slight deterioration in credit quality [366]. Capital and Equity - Shareholders' equity decreased by $3.4 million, or 0.7%, to $507.9 million as of December 31, 2024, primarily due to common stock repurchases and dividends paid [279]. - The Tier 1 leverage capital ratio was 11.92% as of December 31, 2024, compared to 11.99% in 2023, indicating the company remains well capitalized under Basel III standards [280]. - The Common Equity Tier 1 Risk-Based Capital Ratio for the consolidated entity was 17.94% in 2024, down from 19.07% in 2023, with a minimum requirement of 4.50% [416]. Interest Income and Expense - The net interest margin (NIM) decreased to 2.70% in 2024, down 46 basis points from 3.16% in 2023 [286]. - Interest expense on total interest-bearing liabilities increased by $15.4 million, or 15.2%, to $117.3 million in 2024 [292]. - The average cost of total deposits rose to 3.54% in 2024 from 2.87% in 2023, driven by a 72 basis point increase in the average rate paid on interest-bearing deposits [293]. Securities and Investments - As of December 31, 2024, total securities amounted to $425.4 million, with available-for-sale securities at $420.2 million, representing 98.8% of total securities [322]. - The fair value of mortgage-backed securities (residential) was $55,677,000, with unrealized losses of $6,674,000 as of December 31, 2024 [329]. - The weighted-average yield for total available-for-sale securities was 4.06% as of December 31, 2024 [327]. Operational Efficiency - Total noninterest expense decreased by $1.5 million, or 2.2%, to $69.2 million in 2024, primarily due to a $3.7 million reduction in legal and professional expenses [314]. - Salaries and employee benefits increased by $1.6 million, or 4.2%, to $39.4 million in 2024, attributed to merit increases and rising health benefit costs [314]. - The noninterest expenses to average assets ratio remained stable at 1.76% for both 2024 and 2023 [314]. Risk Management - The company employs a comprehensive methodology to monitor credit quality, including a risk classification system for potential problem loans [357]. - The company utilizes a discounted cash flow approach for estimating expected credit losses, incorporating economic forecasts and internal factors [361]. - The NII at risk results are within board policy limits, indicating effective risk management practices [437].

Financial Performance - Net income for Q4 2024 was $4.4 million, or $0.25 diluted earnings per share, down from $7.0 million, or $0.39 diluted earnings per share in Q3 2024[3]. - The company reported net income of $4.4 million for the fourth quarter of 2024, contributing to a total net income of $26.7 million for the year[33]. - Net income for the year ended December 31, 2024, was $26,665 thousand, a decrease from $42,465 thousand in the previous year[45]. - Net income available to common shareholders for Q4 2024 was $4,385,000, a decrease from $6,999,000 in Q3 2024 and $12,073,000 in Q4 2023[67]. - Return on average assets, annualized, decreased to 0.44% for the quarter ended December 31, 2024, down from 1.20% in the same quarter of the previous year[58]. - Return on average tangible common equity (ROATCE) for Q4 2024 was 3.98%, down from 6.40% in Q3 2024 and 11.12% in Q4 2023[67]. - Return on average common equity for Q4 2024 was 3.41%, a decline from 5.47% in Q3 2024 and 9.48% in Q4 2023[67]. Interest Income and Margin - Net interest income increased to $26.0 million in Q4 2024 from $24.5 million in Q3 2024, driven by a $1.4 million increase in interest income and a $1.3 million decrease in interest expense[6]. - The net interest margin (NIM) improved to 2.76% in Q4 2024, up 8 basis points from 2.68% in Q3 2024[7]. - Net interest income before provision for credit losses was $25,977 thousand for the three months ended December 31, 2024, up from $24,545 thousand in September 2024[45]. - The net interest margin for the same period was 2.76%, compared to 2.68% for the previous quarter[47]. - The net interest income for the year ended December 31, 2024, was $99,463 thousand, with an interest rate spread of 1.74%[51]. Assets and Liabilities - Total assets as of December 31, 2024, were $4.0 billion, a slight increase of $2.0 million from September 30, 2024, but a decrease of $33.5 million from December 31, 2023[22]. - Total liabilities increased to $3,484,600 thousand as of December 31, 2024, from $3,480,749 thousand in September 2024[43]. - Total assets increased to $3,992,477 thousand as of December 31, 2024, compared to $3,990,477 thousand in September 2024, reflecting a slight growth[43]. - Total deposits were $3.1 billion as of December 31, 2024, a decrease of $8.4 million from September 30, 2024[25]. - Total deposits decreased to $3,083,789 as of December 31, 2024, from $3,174,760 a year prior, indicating a decline of 2.9%[64]. Credit Quality - Nonperforming assets increased to $81.0 million, or 2.03% of total assets, at December 31, 2024, compared to $60.7 million, or 1.52% of total assets, at September 30, 2024[26]. - The provision for credit losses was $6.0 million in Q4 2024, up from $3.3 million in Q3 2024, reflecting an increase in specific reserves[12]. - Substandard loans totaled $100.3 million as of December 31, 2024, an increase of $20.5 million from $79.8 million at September 30, 2024[29]. - The allowance for credit losses increased to $48.5 million at December 31, 2024, compared to $44.5 million at September 30, 2024, driven by a $6.0 million provision for credit losses[31]. - The allowance for loan losses as a percentage of loans held for investment (HFI) rose to 1.56% at December 31, 2024, from 1.41% at September 30, 2024[31]. - Nonperforming loans held for investment (HFI) increased to $69,843, representing 2.29% of total loans HFI, compared to 1.04% a year earlier[58]. - The allowance for loan losses increased to $47,729, representing 1.56% of total loans HFI, compared to 1.38% a year earlier[58]. Shareholder Information - Total shareholders' equity was $507.9 million at December 31, 2024, a decrease of $1.9 million from September 30, 2024, due to higher net unrealized losses on securities[33]. - Book value per share decreased to $28.66 at December 31, 2024, down from $28.81 at September 30, 2024[33]. - Book value per share as of December 31, 2024, is $28.66, compared to $27.47 as of December 31, 2023, reflecting a year-over-year increase of 4.3%[64]. - Average shareholders' equity increased to $512,208,000 in Q4 2024 from $508,720,000 in Q3 2024 and $505,184,000 in Q4 2023[67]. - The common stock dividend payout ratio increased to 64.00% for the quarter ended December 31, 2024, compared to 25.00% in the same quarter of the previous year[58]. Operational Highlights - The company operates nine branches in Los Angeles County and has expanded its presence in several states including Nevada and New York[35]. - The company plans to hold a conference call on February 4, 2025, to discuss its fourth quarter 2024 financial results[36].