A downtrend has been apparent in RBB (RBB) lately. While the stock has lost 7.7% over the past week, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support. While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earnings of this ...

RBB Bancorp (NASDAQ:RBB) Q2 2024 Results Conference Call July 23, 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 Kelly Motta - KBW Matthew Clark - Piper Sandler Andrew Terrell - Stephens Operator Good day. And welcome to the RBB Bancorp’ ...

RBB (RBB) reported $27.45 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 20.2%. EPS of $0.39 for the same period compares to $0.58 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $27.46 million, representing a surprise of -0.03%. The company delivered an EPS surprise of +14.71%, with the consensus EPS estimate being $0.34. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street exp ...

RBB, which belongs to the Zacks Banks - West industry, posted revenues of $27.45 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.03%. This compares to year-ago revenues of $34.42 million. The company has topped consensus revenue estimates three times over the last four quarters. RBB (RBB) came out with quarterly earnings of $0.39 per share, beating the Zacks Consensus Estimate of $0.34 per share. This compares to earnings of $0.58 per share a year ago. These figures are ad ...

Net Income and Earnings - Net income for Q2 2024 totaled $7.2 million, or $0.39 diluted earnings per share, compared to $8.0 million in Q1 2024[3][18] - Net income available to common shareholders for the six months ended June 30, 2024, was $15,281, compared to $21,919 in the same period in 2023[52] - Net income for the six months ended June 30, 2024, was $15.28 million, down from $21.92 million in the same period in 2023[65] - Basic net income per share for the six months ended June 30, 2024, was $0.83, compared to $1.15 in the same period in 2023[65] Net Interest Margin and Income - Net interest margin (NIM) decreased to 2.67% in Q2 2024, down 2 basis points from 2.69% in Q1 2024[3][5] - Net interest income for the second quarter of 2024 was $23.988 million, with a net interest margin of 2.67%[45] - Net interest income decreased to $48,891 in June 2024 from $66,076 in June 2023, with a net interest margin of 2.68% compared to 3.53% in the previous year[46] - Net interest income for the six months ended June 30, 2024, was $107.68 million, a decrease from $110.75 million in the same period in 2023[65] - Net interest margin was 2.67% for the quarter ended June 30, 2024, compared to 3.37% for the same period in 2023[72] Total Assets and Loans - Total assets decreased to $3.9 billion as of June 30, 2024, a $9.8 million decrease compared to March 31, 2024[10] - Loans held for investment increased by $20.4 million to $3.0 billion as of June 30, 2024, driven by growth in CRE, C&I, C&D, and SFR loans[22] - Total loans held for investment decreased to $3,015,613 in June 2024 from $3,307,157 in June 2023, with a yield of 6.05% compared to 6.14% in the previous year[46] - Total loans as of June 30, 2024, were $3,047,712, with commercial real estate loans making up 39.1% of the portfolio[49] - Net loans held for investment stood at $3,005,971 as of June 30, 2024, showing a slight decrease from $3,152,903 as of June 30, 2023[69] - Total assets decreased to $3,868,186 as of June 30, 2024, compared to $4,075,618 as of June 30, 2023, reflecting a decline of 5.1% year-over-year[69] - Total assets-GAAP declined to $3,868,186 thousand in June 2024 from $4,075,618 thousand in June 2023[77] - Tangible assets decreased to $3,794,294 thousand in June 2024 from $4,000,874 thousand in June 2023[77] Deposits and Funding Costs - Total deposits decreased by $4.7 million to $3.0 billion as of June 30, 2024, with noninterest-bearing deposits increasing by $3.5 million to $543.0 million[23] - Total cost of deposits for the second quarter of 2024 was $26.803 million, with a cost of 3.59%[45] - Total cost of funds for the second quarter of 2024 was $28.921 million, with a cost of 3.54%[45] - Total interest-bearing deposits increased to $2,531,686 in June 2024 from $2,427,265 in June 2023, with a cost of 4.34% compared to 3.13% in the previous year[46] - Total deposits slightly decreased to $3.02 billion as of June 30, 2024, compared to $3.03 billion in March 2024 and $3.18 billion in June 2023[60] - Noninterest-bearing demand deposits accounted for 18.0% ($542.97 million) of total deposits as of June 30, 2024, compared to 17.8% ($539.52 million) in March 2024 and 18.4% ($585.75 million) in June 2023[60] - Time deposits over $250,000 increased to $790.48 million (26.1% of total deposits) as of June 30, 2024, compared to $746.61 million (24.7%) in March 2024 and $662.76 million (20.9%) in June 2023[60] - Total deposits were $3,023,605 as of June 30, 2024, down from $3,175,416 as of June 30, 2023, a decrease of 4.8%[69] - Cost of average total deposits was 3.59% for the quarter ended June 30, 2024, up from 2.80% in the same period last year[72] Credit Quality and Allowances - Substandard loans increased to $63.1 million, or 2.07% of total loans, as of June 30, 2024, up from $57.2 million, or 1.89% of total loans, in Q1 2024[13] - The allowance for credit losses totaled $42.4 million as of June 30, 2024, with the allowance for loan losses as a percentage of nonperforming loans decreasing to 76% from 116% in Q1 2024[14] - Nonperforming assets increased to $54.6 million, or 1.41% of total assets, as of June 30, 2024, up from $37.0 million, or 0.95% of total assets, as of March 31, 2024[35] - 30-89 day delinquent loans decreased by $9.7 million to $11.3 million as of June 30, 2024, compared to $21.0 million as of March 31, 2024[36] - Special mention loans decreased to $19.52 million (0.64% of total loans) as of June 30, 2024, compared to $20.58 million (0.68%) in March 2024 and $24.15 million (0.76%) in June 2023[58] - Substandard loans increased to $63.08 million (2.07% of total loans) as of June 30, 2024, compared to $57.17 million (1.89%) in March 2024 and $74.07 million (2.32%) in June 2023[58] - Nonperforming loans rose to $54.59 million (1.79% of total loans) as of June 30, 2024, compared to $35.94 million (1.19%) in March 2024 and $41.86 million (1.31%) in June 2023[58] - Net charge-offs increased to $551,000 (0.07% of average loans) for the quarter ended June 30, 2024, compared to $184,000 (0.02%) in March 2024 and $580,000 (0.07%) in June 2023[58] - Allowance for loan losses to nonperforming loans decreased to 76.46% as of June 30, 2024, compared to 116.01% in March 2024 and 102.94% in June 2023[58] - Provision for credit losses for the six months ended June 30, 2024, was $557,000, down from $2.39 million in the same period in 2023[65] Shareholder Equity and Share Repurchases - Total shareholders' equity decreased by $2.7 million to $511.3 million as of June 30, 2024, compared to March 31, 2024, due to dividends paid and share repurchases[37] - The company repurchased 448,190 shares of common stock for $8.1 million during Q2 2024[3] - The company repurchased 448,190 shares at a weighted average share price of $18.01 during the second quarter of 2024[38] - Total shareholders' equity increased to $511,291 thousand as of June 30, 2024, compared to $500,290 thousand in June 2023[77] - Tangible common equity decreased slightly to $437,399 thousand in June 2024 from $439,894 thousand in March 2024[77] - Common equity to assets ratio improved to 13.22% in June 2024 from 12.28% in June 2023[77] - Tangible common equity to tangible assets ratio increased to 11.53% in June 2024 from 10.64% in June 2023[77] - Common shares outstanding decreased to 18,182,154 in June 2024 from 18,995,303 in June 2023[77] Noninterest Income and Expense - Noninterest income increased to $3.5 million in Q2 2024, up $116,000 from Q1 2024, driven by higher gains on sale of loans and equity investment income[7] - Total noninterest income for the six months ended June 30, 2024, increased to $6.86 million from $4.86 million in the same period in 2023[65] - Total noninterest expense for the six months ended June 30, 2024, decreased to $34.09 million from $37.43 million in the same period in 2023[65] Book Value and Tangible Equity - Book value per share increased to $28.12 as of June 30, 2024, up from $27.67 at March 31, 2024[3] - Tangible common equity to tangible assets ratio stood at 11.53% as of June 30, 2024, compared to 11.56% in March 2024 and 10.64% in June 2023[58] - Book value per share increased to $28.12 as of June 30, 2024, from $26.34 as of June 30, 2023[72] - Tangible book value per share rose to $24.06 as of June 30, 2024, compared to $22.40 as of June 30, 2023[72] - Book value per share rose to $28.12 in June 2024 from $26.34 in June 2023[77] - Tangible book value per share increased to $24.06 in June 2024 from $22.40 in June 2023[77] Interest Expense and Yields - Total interest expense for the six months ended June 30, 2024, increased to $58.84 million from $44.73 million in the same period in 2023[65] - Interest on savings deposits, NOW, and money market accounts for the six months ended June 30, 2024, was $9.43 million, up from $5.07 million in the same period in 2023[65] - Interest on time deposits for the six months ended June 30, 2024, was $45.17 million, compared to $32.58 million in the same period in 2023[65] - Total interest-earning assets decreased to $3,667,597 in June 2024 from $3,770,997 in June 2023, with a yield of 5.91% compared to 5.93% in the previous year[46] Efficiency and Ratios - Efficiency ratio increased to 62.38% for the quarter ended June 30, 2024, from 53.80% in the same period last year[72] - Return on average tangible common equity was 7.01% for the six months ended June 30, 2024, compared to 10.49% in the same period in 2023[52] - Return on average assets, annualized, was 0.76% for the quarter ended June 30, 2024, compared to 1.08% for the same period in 2023[72] - Return on average shareholders' equity, annualized, was 5.69% for the quarter ended June 30, 2024, down from 8.78% in the same period last year[72] - Tier 1 leverage ratio increased to 12.48% as of June 30, 2024, compared to 12.16% in March 2024 and 11.60% in June 2023[58]

Safe Harbor 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; the impact of future or recent changes in the 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 p ...

(1) Includes brokered deposits, collateralized deposits from the State of California, and internet listing services. | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------------|---------------|-------|----------------|-------|---------------|-------| | (dollars in thousands, except share and per share data) | June 30, 2024 | | March 31, 2024 | | June 30, 2023 | | | Tangible common equity: | | | | | | | | Total shareholders' equity | $ 511,291 | | $ 513,986 | | $ 50 ...

For the last reported quarter, RBB came out with earnings of $0.43 per share versus the Zacks Consensus Estimate of $0.35 per share, representing a surprise of 22.86%. For the previous quarter, the company was expected to post earnings of $0.35 per share and it actually produced earnings of $0.43 per share, delivering a surprise of 22.86%. Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if th ...

LOS ANGELES, July 18, 2024 (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 that its Board of Directors has declared a quarterly cash dividend of $0.16 per common share. The dividend is payable on August 12, 2024 to common shareholders of record as of July 31, 2024. Corporate Overview RBB Bancorp is a bank holding company headquartered in Los Angeles, Cali ...

RBB Bancorp (RBB) shares ended the last trading session 5.1% higher at $20.68. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.3% gain over the past four weeks. This is a positive development for banks that have been reeling under the Fed's aggressive monetary tightening. As the rates come down, so will banks' funding costs. Also, demand for loans is expected to improve. Hence, the investors turned bullish on ba ...