RBB Bancorp
For the period ended Feb 3, 2025. Filed Feb 4, 2025.
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Feb 3, 2025 · Filed Feb 4, 2025
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EX-99.1 · Return on Average Tangible Common Equity
Return on Average Tangible Common Equity
Management measures return on average tangible common equity (“ROATCE”) to assess the Company’s capital strength and business performance and believes this is helpful to investors as an additional tool for further understanding our performance. Tangible equity excludes goodwill and other intangible assets (excluding mortgage servicing rights) and is reviewed by banking and financial institution regulators when assessing a financial institution’s capital adequacy. This non-GAAP financial measure should not be considered a substitute for operating results determined in accordance with GAAP and may not be comparable to other similarly titled measures used by other companies. The following table reconciles ROATCE to its most comparable GAAP measure:
| Three Months Ended · Year Ended December 31, | |||||
|---|---|---|---|---|---|
| (dollars in thousands) | December 31, 2024 | September 30, 2024 | December 31, 2023 | 2024 | 2023 |
| Net income available to common shareholders | $4,385 | $6,999 | $12,073 | $26,665 | $42,465 |
| Average shareholders' equity | 512,208 | 508,720 | 505,184 | 511,470 | 500,540 |
| Adjustments: | |||||
| Average goodwill | (71,498) | (71,498) | (71,498) | (71,498) | (71,498) |
| Average core deposit intangible | (2,129) | (2,326) | (2,935) | (2,425) | (3,282) |
| Adjusted average tangible common equity | $438,581 | $434,896 | $430,751 | $437,547 | $425,760 |
| Return on average common equity | 3.41% | 5.47% | 9.48% | 5.21% | 8.48% |
| Return on average tangible common equity | 3.98% | 6.40% | 11.12% | 6.09% | 9.97% |
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