RBB Bancorp

For the period ended Dec 31, 2023. Filed Mar 12, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 12, 2024

RBB$26.09+0.2%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Income

FOR THE YEAR ENDED DECEMBER 31,

(In thousands, except share and per share data)

	2023	2022	2021
Interest and dividend income:
Interest and fees on loans	$194,264	$171,099	$141,569
Interest on interest-earning deposits	10,746	1,353	552
Interest on investment securities	14,028	6,084	3,379
Dividend income on FHLB stock	1,125	938	869
Interest on federal funds sold and other	985	1,496	694
Total interest and dividend income	221,148	180,970	147,063
Interest expense:
Interest on savings deposits, NOW and money market accounts	12,205	5,561	2,786
Interest on time deposits	76,837	13,338	9,170
Interest on subordinated debentures and long-term debt	9,951	9,645	8,999
Interest on other borrowed funds	2,869	2,872	1,765
Total interest expense	101,862	31,416	22,720
Net interest income before provision for credit losses	119,286	149,554	124,343
Provision for credit losses	3,362	4,935	3,959
Net interest income after provision for credit losses	115,924	144,619	120,384
Noninterest income:
Service charges and fees	4,172	4,145	4,524
Loan servicing fees, net of amortization	2,576	2,209	684
Increase in cash surrender value of BOLI	1,409	1,322	1,067
Gain on sale of loans	374	1,895	9,991
Gain on sale of fixed assets	32	757	—
Other income	6,455	924	2,479
Total noninterest income	15,018	11,252	18,745
Noninterest expense:
Salaries and employee benefits	37,795	35,488	33,568
Occupancy and equipment expenses	9,629	9,092	8,691
Data processing	5,326	5,060	4,474
Legal and professional	8,198	5,383	3,773
Office expenses	1,512	1,438	1,197
Marketing and business promotion	1,132	1,578	1,157
Insurance and regulatory assessments	3,165	1,850	1,561
Core deposit premium amortization	923	1,086	1,121
Other expenses	3,016	3,551	2,650
Total noninterest expense	70,696	64,526	58,192
Net income before income taxes	60,246	91,345	80,937
Income tax expense	17,781	27,018	24,031
Net income	$42,465	$64,327	$56,906
Net income per share
Basic	$2.24	$3.37	$2.92
Diluted	2.24	3.33	2.86
Weighted-average common shares outstanding
Basic	18,965,346	19,099,509	19,423,549
Diluted	18,985,233	19,332,639	19,834,306

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.