Core Viewpoint - RBB Bancorp reported a decline in net income for the fourth quarter and the fiscal year 2024, attributed to increased interest expenses and a decrease in interest income from loans, despite improvements in net interest income and net interest margin [2][8][9]. Financial Performance - The company reported net income of $4.4 million for Q4 2024, down from $7.0 million in Q3 2024, and total net income for the year was $26.7 million, compared to $42.5 million in 2023 [2][8]. - Diluted earnings per share for Q4 2024 were $0.25, down from $0.39 in Q3 2024, and for the year, it was $1.47 compared to $2.24 in 2023 [2][8]. Net Interest Income and Margin - Net interest income for Q4 2024 was $26.0 million, an increase from $24.5 million in Q3 2024, driven by a decrease in interest expense [4]. - The net interest margin (NIM) improved to 2.76% in Q4 2024 from 2.68% in Q3 2024, influenced by a reduction in the overall cost of funds [5][6]. Credit Quality - The provision for credit losses increased to $6.0 million in Q4 2024 from $3.3 million in Q3 2024, reflecting higher specific reserves and net charge-offs [11]. - Nonperforming assets rose to $81.0 million, or 2.03% of total assets, compared to $60.7 million, or 1.52% of total assets, at the end of Q3 2024 [24]. Balance Sheet - Total assets as of December 31, 2024, were $4.0 billion, a slight increase from $3.99 billion at the end of Q3 2024, but a decrease from $4.03 billion at the end of 2023 [20]. - Loans held for investment totaled $3.1 billion, a decrease from $3.1 billion in Q3 2024, with a notable decline in commercial real estate loans [21]. Deposits - Total deposits were $3.1 billion as of December 31, 2024, a decrease from $3.1 billion in Q3 2024, primarily due to a reduction in interest-bearing deposits [23]. Shareholders' Equity - Total shareholders' equity was $507.9 million at the end of Q4 2024, down from $509.8 million at the end of Q3 2024, influenced by higher unrealized losses on available-for-sale securities [31][32].

Core Viewpoint - RBB Bancorp reported a decline in net income for the fourth quarter and the fiscal year ended December 31, 2024, primarily due to increased interest expenses and a decrease in loan interest income, while net interest income and net interest margin showed improvement due to declining funding costs [3][9][10]. Financial Performance - The company reported net income of $4.4 million, or $0.25 diluted earnings per share, for Q4 2024, down from $7.0 million, or $0.39 diluted earnings per share, in Q3 2024. For the fiscal year 2024, net income totaled $26.7 million, or $1.47 diluted earnings per share, compared to $42.5 million, or $2.24 diluted earnings per share, in 2023 [3][9]. - Net interest income for Q4 2024 was $26.0 million, an increase from $24.5 million in Q3 2024, driven by a $130,000 increase in interest income and a $1.3 million decrease in interest expense [5]. - The net interest margin (NIM) improved to 2.76% in Q4 2024, up from 2.68% in Q3 2024, attributed to a decrease in the overall cost of funds [6][7]. Credit Quality - The provision for credit losses was $6.0 million for Q4 2024, up from $3.3 million in Q3 2024, reflecting an increase in specific reserves and net charge-offs [12]. - 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]. Balance Sheet - Total assets were $4.0 billion as of December 31, 2024, a slight increase from $3.99 billion at September 30, 2024, but a decrease from $4.03 billion at December 31, 2023 [21]. - Loans held for investment totaled $3.1 billion, a decrease of $38.7 million from September 30, 2024, primarily due to declines in commercial real estate and construction loans [22]. - Total deposits were $3.1 billion, down $8.4 million from September 30, 2024, with a notable decrease in interest-bearing deposits [24]. Shareholders' Equity - Total shareholders' equity was $507.9 million at December 31, 2024, a decrease from $509.8 million at September 30, 2024, primarily due to higher unrealized losses on available-for-sale securities and dividends paid [34].

Core Points - RBB Bancorp has rescheduled the release of its financial results for Q4 and the year ended December 31, 2024, to February 3, 2025, after market close due to the need for additional analysis [1] - A conference call to discuss the financial results will be held on February 4, 2025, at 11:00 a.m. Pacific Time [2] - The company is a community-based financial holding company with total assets of $4.0 billion as of September 30, 2024 [4] Company Overview - RBB Bancorp operates through its subsidiary, Royal Business Bank, providing 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 offers services including remote deposit, E-banking, mobile banking, various types of loans, trade finance, and wealth management [4] - The company has multiple branches across several states, including nine in Los Angeles County and additional locations in Nevada, New York, New Jersey, Illinois, and Hawaii [4]

Core Points - RBB Bancorp declared a quarterly cash dividend of $0.16 per common share, payable on February 12, 2025, to shareholders of record as of January 31, 2025 [1] - The Company has donated $30,000 to support families affected by the recent wildfires in Los Angeles County and is providing resources for counseling and wellness support [2] - As of September 30, 2024, RBB Bancorp had total assets of $4.0 billion and operates primarily in Asian-centric communities across several states [3] Financial Performance - The quarterly cash dividend of $0.16 per share reflects the Company's ongoing commitment to returning value to shareholders [1] - The total assets of RBB Bancorp amount to $4.0 billion, indicating a solid financial foundation [3] Community Engagement - The Company is actively involved in community support, having partnered with non-profit organizations to assist low-to-moderate income communities affected by wildfires [2] - RBB Bancorp is committed to monitoring the situation and exploring further contributions for recovery efforts [2] Operational Overview - RBB Bancorp operates through its subsidiary, Royal Business Bank, which provides a range of banking services including consumer and business banking, primarily targeting Asian-centric communities [3] - The Bank has multiple branches across California, Nevada, New York, New Jersey, Illinois, and Hawaii, enhancing its accessibility to diverse customer bases [3]

Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings for RBB due to lower revenues, with actual results being crucial for near-term stock price movements [1][2]. Earnings Expectations - RBB is expected to report quarterly earnings of $0.36 per share, reflecting a year-over-year decrease of 16.3% [3]. - Revenues are projected to be $28.18 million, down 14.8% from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised 2.19% lower in the last 30 days, indicating a reassessment by analysts [4]. - A negative Earnings ESP of -1.69% suggests analysts have become bearish on RBB's earnings prospects [10][11]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict earnings deviations, but its predictive power is significant mainly for positive readings [7][8]. - RBB's current Zacks Rank is 4, making it challenging to predict an earnings beat [11]. Historical Performance - RBB has beaten consensus EPS estimates in the last four quarters, with a recent surprise of +2.63% [12][13]. Conclusion - RBB does not appear to be a strong candidate for an earnings beat, and investors should consider other factors before making decisions [16].

Core Viewpoint - RBB Bancorp will release its financial results for the fourth quarter and year ended December 31, 2024, on January 21, 2025, after market close [1] Financial Results Announcement - The management will hold a conference call on January 22, 2025, at 11:00 a.m. Pacific Time to discuss the financial results [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 September 30, 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 offers services including remote deposit, E-banking, mobile banking, various types of loans, trade finance, and wealth management services [4] - The Company operates multiple branches across several states, with its administrative and lending center located in Los Angeles, California [4]

Core Viewpoint - RBB Bancorp announces leadership changes, with Mr. Johnny Lee appointed as President and CEO of the Company and the Bank, effective January 1, 2025, and May 22, 2025, respectively, succeeding Mr. David Morris, who will retire on May 21, 2025 [1][4][5] Leadership Changes - Mr. Johnny Lee, currently President and Chief Banking Officer of Royal Business Bank, will take on the roles of President of the Company and CEO of the Bank starting January 1, 2025, and will become CEO of the Company on May 22, 2025 [1][5] - Mr. David Morris will resign as CEO of the Bank and President of the Company effective January 1, 2025, and will retire on May 21, 2025, while remaining on the Boards of Directors [4][5] - Mr. Mina Rizkalla will be promoted to Executive Vice President and Chief Risk Officer for both the Company and the Bank, effective January 1, 2025 [5] Company Overview - RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California, with total assets of $4.0 billion as of September 30, 2024 [6] - The wholly-owned subsidiary, Royal Business Bank, provides a range of banking services primarily to Asian communities and Asian-centric businesses across various locations, including Los Angeles County, Orange County, and New York [6][7]

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 September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |-------------------------------------------------------------------------------------------------------------------------|----------------------------- ...

RBB Bancorp (NASDAQ:RBB) Q3 2024 Earnings Conference Call October 22, 2024 2:00 PM ET Company Participants Catherine Wei - IR David Morris - Chief Executive Officer Johnny Lee - President Lynn Hopkins - Chief Financial Officer Jeffrey Yeh - Chief Credit Officer Gary Fan - Chief Administrative Officer Vincent Liu - Chief Risk Officer Conference Call Participants Brendan Nosal - Hovde Group Matthew Clark - Piper Sandler Kelly Motta - KBW Andrew Terrell - Stephens Operator Good day, and welcome to the RBB Banc ...

| --- | --- | --- | --- | |-------|--------------------------------------------------|-------|-------| | | | | | | | | | | | | 2024 Third Quarter Earnings Results NASDAQ: RBB | | | | | October 21, 2024 | | | 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," "potent ...