RBB Bancorp

For the period ended Jun 30, 2025. Filed Aug 8, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2025 · Filed Aug 8, 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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Contents

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1.	CONSOLIDATED FINANCIAL STATEMENTS

CONSOLIDATED BALANCE SHEETS

(Unaudited)
	June 30,	December 31,
	2025	2024
Assets
Cash and due from banks	$27,338	$27,747
Interest-earning deposits with financial institutions	164,514	229,998
Cash and cash equivalents	191,852	257,745
Interest-earning time deposits in other financial institutions	600	600
Securities:
Available for sale	413,142	420,190
Held to maturity (fair value of $3,995 and $4,948 at June 30, 2025 and December 31, 2024)	4,186	5,191
Loans held for sale	—	11,250
Loans held for investment	3,234,695	3,053,230
Allowance for loan losses	(51,014)	(47,729)
Loans held for investment, net of allowance for loan losses	3,183,681	3,005,501
Premises and equipment, net	23,945	24,601
Federal Home Loan Bank (FHLB) stock	15,000	15,000
Net deferred tax assets	17,506	19,055
Cash surrender value of bank owned life insurance (BOLI)	61,111	60,296
Goodwill	71,498	71,498
Servicing assets	6,482	6,985
Core deposit intangibles	1,667	2,011
Right-of-use assets - operating leases	25,554	28,048
Accrued interest and other assets	73,816	64,506
Total assets	$4,090,040	$3,992,477
Liabilities and Shareholders’ Equity
Deposits:
Noninterest-bearing demand	$543,885	$563,012
Savings, NOW and money market accounts	691,679	663,034
Time deposits $250,000 and under	1,010,674	1,007,452
Time deposits over $250,000	941,993	850,291
Total deposits	3,188,231	3,083,789
FHLB advances	180,000	200,000
Long-term debt, net of issuance costs	119,720	119,529
Subordinated debentures, net	15,265	15,156
Lease liabilities - operating leases	27,294	29,705
Accrued interest and other liabilities	41,877	36,421
Total liabilities	3,572,387	3,484,600
Shareholders' equity:
Preferred Stock - 100,000,000 shares authorized, no par value; none outstanding	—	—
Common Stock - 100,000,000 shares authorized, no par value; 17,699,091 shares issued and outstanding at June 30, 2025 and 17,720,416 shares issued and outstanding at December 31, 2024	259,863	259,957
Additional paid-in capital	3,579	3,645
Retained earnings	270,152	264,460
Non-controlling interest	72	72
Accumulated other comprehensive loss, net	(16,013)	(20,257)
Total shareholders’ equity	517,653	507,877
Total liabilities and shareholders’ equity	$4,090,040	$3,992,477

CONSOLIDATED STATEMENTS OF INCOME–** (UNAUDITED)**

Three Months Ended · Six Months Ended June 30,
	June 30, 2025	March 31, 2025	June 30, 2024	2025	2024
Interest and dividend income:
Interest and fees on loans	$47,687	$45,621	$45,320	$93,308	$90,867
Interest on interest-earning deposits	1,750	2,014	3,353	3,764	8,393
Interest on investment securities	4,213	4,136	3,631	8,349	7,242
Dividend income on FHLB stock	324	330	327	654	658
Interest on federal funds sold and other	231	235	255	466	521
Total interest and dividend income	54,205	52,336	52,886	106,541	107,681
Interest expense:
Interest on savings deposits, NOW and money market accounts	4,567	4,468	4,953	9,035	9,431
Interest on time deposits	19,250	19,084	21,850	38,334	45,172
Interest on long-term debt and subordinated debentures	1,634	1,632	1,679	3,266	3,358
Interest on FHLB advances	1,420	989	439	2,409	878
Total interest expense	26,871	26,173	28,921	53,044	58,839
Net interest income before provision for credit losses	27,334	26,163	23,965	53,497	48,842
Provision for credit losses	2,387	6,746	557	9,133	557
Net interest income after provision for credit losses	24,947	19,417	23,408	44,364	48,285
Noninterest income:
Service charges and fees	1,060	1,017	1,064	2,077	2,056
Gain on sale of loans	358	81	451	439	763
Loan servicing income, net of amortization	541	588	579	1,129	1,168
Increase in cash surrender value of life insurance	411	403	385	814	767
Gain on other real estate owned	—	—	292	—	1,016
Other income	6,108	206	717	6,314	1,090
Total noninterest income	8,478	2,295	3,488	10,773	6,860
Noninterest expense:
Salaries and employee benefits	11,080	10,643	9,533	21,723	19,460
Occupancy and equipment expenses	2,377	2,407	2,439	4,784	4,882
Data processing	1,713	1,602	1,466	3,315	2,886
Legal and professional	2,904	1,515	1,260	4,419	2,140
Office expenses	405	408	352	813	708
Marketing and business promotion	212	197	189	409	361
Insurance and regulatory assessments	709	730	981	1,439	1,963
Core deposit intangible	172	172	201	344	402
Other expenses	921	848	703	1,769	1,291
Total noninterest expense	20,493	18,522	17,124	39,015	34,093
Net income before income taxes	12,932	3,190	9,772	16,122	21,052
Income tax expense	3,599	900	2,527	4,499	5,771
Net income	$9,333	$2,290	$7,245	$11,623	$15,281
Net income per share
Basic	$0.53	$0.13	$0.39	$0.66	$0.83
Diluted	$0.52	$0.13	$0.39	$0.65	$0.82
Weighted-average common shares outstanding
Basic	17,746,607	17,727,712	18,375,970	17,737,212	18,488,623
Diluted	17,797,735	17,770,588	18,406,897	17,784,237	18,529,299

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME–** (UNAUDITED)**

(In thousands)

Three Months Ended · Six Months Ended
	June 30, 2025	March 31, 2025	June 30, 2024	June 30, 2025	June 30, 2024
Net income	$9,333	$2,290	$7,245	$11,623	$15,281
Other comprehensive income/(loss):
Unrealized gain/(loss) on securities available for sale	1,850	4,272	43	6,122	(2,042)
Related income tax effect	(568)	(1,310)	24	(1,878)	639
Total other comprehensive income/(loss)	1,282	2,962	67	4,244	(1,403)
Total comprehensive income	$10,615	$5,252	$7,312	$15,867	$13,878

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’** EQUITY**–** (UNAUDITED)**

Common Stock · Accumulated
	Shares	Amount	Additional Paid-in Capital	Retained Earnings	Non- Controlling Interest	Other Comprehensive Loss, net	Total
Balance at March 31, 2025	17,738,628	$260,284	$3,360	$263,885	$72	$(17,295)	$510,306
Net income	—	—	—	9,333	—	—	9,333
Stock-based compensation, net	—	—	925	—	—	—	925
Restricted stock units vested	38,194	632	(643)	—	—	—	(11)
Cash dividends on common stock ($0.16 per share)	—	—	—	(2,854)	—	—	(2,854)
Stock options exercised	10,000	234	(63)	—	—	—	171
Repurchase of common stock	(87,731)	(1,287)	—	(212)	—	—	(1,499)
Other comprehensive income, net of taxes	—	—	—	—	—	1,282	1,282
Balance at June 30, 2025	17,699,091	$259,863	$3,579	$270,152	$72	$(16,013)	$517,653
Balance at March 31, 2024	18,578,132	$271,645	$3,348	$259,903	$72	$(20,982)	$513,986
Net income	—	—	—	7,245	—	—	7,245
Stock-based compensation, net	—	—	688	—	—	—	688
Restricted stock units vested	23,962	448	(448)	—	—	—	—
Cash dividends on common stock ($0.16 per share)	—	—	—	(3,010)	—	—	(3,010)
Stock options exercised	28,250	590	(132)	—	—	—	458
Repurchase of common stock	(448,190)	(6,523)	—	(1,620)	—	—	(8,143)
Other comprehensive income, net of taxes	—	—	—	—	—	67	67
Balance at June 30, 2024	18,182,154	$266,160	$3,456	$262,518	$72	$(20,915)	$511,291

Common Stock · Accumulated
	Shares	Amount	Additional Paid-in Capital	Retained Earnings	Non- Controlling Interest	Other Comprehensive Loss, net	Total
Balance at January 1, 2025	17,720,416	$259,957	$3,645	$264,460	$72	$(20,257)	$507,877
Net income	—	—	—	11,623	—	—	11,623
Stock-based compensation, net	—	—	1,180	—	—	—	1,180
Restricted stock units vested	56,406	959	(1,183)	—	—	—	(224)
Cash dividends on common stock ($0.32 per share)	—	—	—	(5,719)	—	—	(5,719)
Stock options exercised	10,000	234	(63)	—	—	—	171
Repurchase of common stock	(87,731)	(1,287)	—	(212)	—	—	(1,499)
Other comprehensive income, net of taxes	—	—	—	—	—	4,244	4,244
Balance at June 30, 2025	17,699,091	$259,863	$3,579	$270,152	$72	$(16,013)	$517,653
Balance at January 1, 2024	18,609,179	$271,925	$3,623	$255,152	$72	$(19,512)	$511,260
Net income	—	—	—	15,281	—	—	15,281
Stock-based compensation, net	—	—	828	—	—	—	828
Restricted stock units vested	32,200	593	(657)	—	—	—	(64)
Cash dividends on common stock ($0.32 per share)	—	—	—	(5,986)	—	—	(5,986)
Stock options exercised	69,250	1,337	(338)	—	—	—	999
Repurchase of common stock	(528,475)	(7,695)	—	(1,929)	—	—	(9,624)
Other comprehensive loss, net of taxes	—	—	—	—	—	(1,403)	(1,403)
Balance at June 30, 2024	18,182,154	$266,160	$3,456	$262,518	$72	$(20,915)	$511,291

CONSOLIDATED STATEMENTS OF CASH FLOWS – (UNAUDITED)

(In thousands)

	Six Months Ended
	June 30,
	2025	2024
Operating activities
Net income	$11,623	$15,281
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization of premises and equipment	941	951
Net accretion of securities, loans, deposits, and other	(1,667)	(2,890)
Amortization of investment in affordable housing tax credits	952	602
Amortization of intangible assets	951	1,173
Amortization of right-of-use asset	2,545	2,494
Change in operating lease liabilities	(2,462)	(2,325)
Provision for credit losses	9,133	557
Stock-based compensation	1,180	828
Deferred tax benefit	(329)	(173)
Gain on sale of loans	(439)	(763)
Gain on sale and transfer of OREO	—	(1,016)
Gain on sale of fixed assets	(42)	—
Increase in cash surrender value of life insurance	(814)	(767)
Loans originated and purchased for sale, net	(1,938)	(20,332)
Proceeds from loans held for sale	8,574	27,758
Other items	1,222	(4,857)
Net cash provided by operating activities	29,430	16,521
Investing activities
Securities available for sale:
Purchases	(110,410)	(222,220)
Maturities, repayments and calls	124,717	215,711
Securities held to maturity:
Maturities, repayments and calls	1,000	—
Net (increase) decrease in other equity securities	(228)	393
Net increase of investment in qualified affordable housing projects	(1,538)	(251)
Net increase in loans	(217,800)	(25,509)
Proceeds from sales of loans originally classified as HFI	24,528	—
Proceeds from sales of OREO	7,526	2,936
Proceeds from sale of fixed assets	42	—
Purchases of premises and equipment	(278)	(298)
Net cash used in investing activities	(172,441)	(29,238)
Financing activities
Net increase in demand deposits and savings accounts	9,518	18,391
Net increase (decrease) in time deposits	94,871	(169,603)
Proceeds from FHLB advances	150,000	—
Repayments of FHLB Advances	(170,000)	—
Cash dividends paid	(5,719)	(5,986)
Restricted stock units vesting	(224)	(64)
Common stock repurchased, net of repurchase costs	(1,499)	(9,624)
Exercise of stock options	171	999
Net cash provided by (used in) financing activities	77,118	(165,887)
Net decrease in cash and cash equivalents	(65,893)	(178,604)
Cash and cash equivalents at beginning of period	257,745	431,373
Cash and cash equivalents at end of period	$191,852	$252,769
Supplemental disclosure of cash flow information
Cash paid during the period:
Interest paid	$53,654	$64,426
Taxes paid	2,869	3,771
Non-cash investing and financing activities:
Transfer from loans to other real estate owned	11,696	1,920
Loans transferred to held for sale, net	19,475	7,898
Additions to servicing assets	104	207
Recognition of operating lease right-of-use assets	(51)	(3,221)
Recognition of operating lease liabilities	51	3,221

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