RBB Bancorp
For the period ended Dec 31, 2024. Filed Mar 17, 2025.
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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.
FY2024 · Filed Mar 17, 2025
RBB$26.09+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022
(In thousands)
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Operating activities | |||
| Net income | $26,665 | $42,465 | $64,327 |
| Adjustments to reconcile net income to net cash from Operating activities: | |||
| Depreciation and amortization of premises and equipment | 1,898 | 2,018 | 2,022 |
| Net accretion of discount for securities, loans, deposits, and other | (4,244) | (5,396) | (432) |
| Unrealized gain on equity securities | (41) | (24) | — |
| Amortization of investment in affordable housing tax credits | 1,336 | 1,127 | 1,053 |
| Amortization of intangible assets | 2,342 | 2,568 | 3,853 |
| Amortization of right-of-use asset | 5,011 | 5,042 | 5,145 |
| Change in operating lease liabilities | (4,742) | (4,730) | (4,897) |
| Provision for credit losses | 9,857 | 3,362 | 4,935 |
| Stock-based compensation, net | 1,360 | 750 | 848 |
| Deferred tax (benefit)/expense | (2,918) | 216 | (2,249) |
| Gain on sale of loans | (1,586) | (374) | (1,895) |
| Gain on OREO | (1,016) | (133) | — |
| Gain on sale of fixed assets | — | (32) | (757) |
| Increase in cash surrender value of BOLI | (1,577) | (1,409) | (1,322) |
| Loans originated and purchased for sale, net | (35,568) | (15,058) | (39,152) |
| Proceeds from loans sold | 63,268 | 18,743 | 60,170 |
| Other items | (1,550) | 2,157 | 2,163 |
| Net cash provided by operating activities | 58,495 | 51,292 | 93,812 |
| Investing activities | |||
| Securities available for sale: | |||
| Purchases | (415,396) | (694,210) | (402,656) |
| Maturities, repayments and calls | 316,151 | 640,993 | 485,796 |
| Securities held to maturity: | |||
| Maturities, repayments and calls | — | 500 | 500 |
| Purchase of Federal Home Loan Bank stock and other equity securities, net | 489 | (479) | (2,608) |
| Net increase of investment in qualified affordable housing projects | (2,525) | (279) | (227) |
| Net (increase)/decrease in loans | (61,254) | 296,693 | (411,316) |
| Proceeds from sales of OREO | 2,936 | 711 | — |
| Net cash received in connection with acquisition | — | — | 71,352 |
| Proceeds from sale of fixed assets | — | 32 | 1,053 |
| Purchases of premises and equipment | (788) | (652) | (2,065) |
| Net cash (used in)/provided by investing activities | (160,387) | 243,309 | (260,171) |
| Financing activities | |||
| Net increase/(decrease) in demand deposits and savings accounts | 53,696 | (241,730) | (886,712) |
| Net (decrease)/increase in time deposits | (144,769) | 438,625 | 397,329 |
| Advances from Federal Home Loan Bank | 50,000 | 80,000 | 570,000 |
| Repayment of Federal Home Loan Bank borrowings | — | (150,000) | (500,000) |
| Cash dividends paid | (11,720) | (12,163) | (10,736) |
| Restricted stock units vesting | (108) | — | — |
| Redemption of subordinated notes | — | (55,000) | — |
| Common stock repurchased, net of repurchased costs | (20,676) | (6,803) | (19,822) |
| Exercise of stock options | 1,841 | 295 | 5,476 |
| Net cash (used in)/provided by financing activities | (71,736) | 53,224 | (444,465) |
| Net (decrease)/increase in cash and cash equivalents | (173,628) | 347,825 | (610,824) |
| Cash and cash equivalents at beginning of period | 431,373 | 83,548 | 694,372 |
| Cash and cash equivalents at end of period | $257,745 | $431,373 | $83,548 |
| Supplemental disclosure of cash flow information | |||
| Cash paid during the period: | |||
| Interest paid | $120,917 | $93,721 | $29,734 |
| Taxes paid | 6,225 | 21,389 | 24,019 |
| Non-cash investing and financing activities: | |||
| Transfer from loans to other real estate owned | 1,920 | — | 142 |
| Loans transferred to held for sale, net | 35,453 | 5,254 | 13,166 |
| Additions to servicing assets | 433 | 234 | 771 |
| Recognition of operating lease right-of-use assets | (3,256) | (9,398) | (8,138) |
| Recognition of operating lease liabilities | 3,256 | 9,398 | 8,138 |
| Acquisition: | |||
| Assets acquired, net of cash received | — | — | 8,183 |
| Liabilities assumed | — | — | 81,790 |
| Cash receipts | — | — | (71,040) |
| Goodwill | — | — | 2,255 |
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