RBB Bancorp

For the period ended Sep 30, 2025. Filed Nov 7, 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.

Sep 30, 2025 · Filed Nov 7, 2025

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

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1.	CONSOLIDATED FINANCIAL STATEMENTS

CONSOLIDATED BALANCE SHEETS

(Unaudited)
	September 30,	December 31,
	2025	2024
Assets
Cash and due from banks	$24,251	$27,747
Interest-earning deposits with financial institutions	210,679	229,998
Cash and cash equivalents	234,930	257,745
Interest-earning time deposits in other financial institutions	600	600
Securities:
Available for sale	410,631	420,190
Held to maturity (fair value of $4,075 and $4,948 at September 30, 2025 and December 31, 2024)	4,185	5,191
Loans held for sale	756	11,250
Loans held for investment	3,302,577	3,053,230
Allowance for loan losses	(44,892)	(47,729)
Loans held for investment, net of allowance for loan losses	3,257,685	3,005,501
Premises and equipment, net	23,851	24,601
Federal Home Loan Bank (FHLB) stock	15,000	15,000
Net deferred tax assets	14,935	19,055
Cash surrender value of bank owned life insurance (BOLI)	61,537	60,296
Goodwill	71,498	71,498
Servicing assets	6,252	6,985
Core deposit intangibles	1,495	2,011
Right-of-use assets - operating leases	24,305	28,048
Accrued interest and other assets	80,795	64,506
Total assets	$4,208,455	$3,992,477
Liabilities and Shareholders’ Equity
Deposits:
Noninterest-bearing demand	$550,488	$563,012
Savings, NOW and money market accounts	721,697	663,034
Time deposits $250,000 and under	1,119,258	1,007,452
Time deposits over $250,000	975,054	850,291
Total deposits	3,366,497	3,083,789
FHLB advances	130,000	200,000
Long-term debt, net of issuance costs	119,815	119,529
Subordinated debentures, net	15,320	15,156
Lease liabilities - operating leases	26,066	29,705
Accrued interest and other liabilities	36,422	36,421
Total liabilities	3,694,120	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; 17,043,897 shares issued and outstanding at September 30, 2025 and 17,720,416 shares issued and outstanding at December 31, 2024	250,362	259,957
Additional paid-in capital	3,734	3,645
Retained earnings	274,608	264,460
Non-controlling interest	72	72
Accumulated other comprehensive loss, net	(14,441)	(20,257)
Total shareholders’ equity	514,335	507,877
Total liabilities and shareholders’ equity	$4,208,455	$3,992,477

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

Three Months Ended · Nine Months Ended September 30,
	September 30, 2025	June 30, 2025	September 30, 2024	2025	2024
Interest and dividend income:
Interest and fees on loans	$50,094	$47,687	$47,326	$143,402	$138,193
Interest on interest-earning deposits	2,140	1,750	3,388	5,904	11,781
Interest on investment securities	4,592	4,213	3,127	12,941	10,369
Dividend income on FHLB stock	327	324	326	981	984
Interest on federal funds sold and other	239	231	258	705	779
Total interest and dividend income	57,392	54,205	54,425	163,933	162,106
Interest expense:
Interest on savings deposits, NOW and money market accounts	4,674	4,567	5,193	13,709	14,624
Interest on time deposits	20,152	19,250	22,553	58,486	67,725
Interest on long-term debt and subordinated debentures	1,635	1,634	1,681	4,901	5,039
Interest on FHLB advances	1,654	1,420	453	4,063	1,331
Total interest expense	28,115	26,871	29,880	81,159	88,719
Net interest income before provision for credit losses	29,277	27,334	24,545	82,774	73,387
Provision for credit losses	625	2,387	3,300	9,758	3,857
Net interest income after provision for credit losses	28,652	24,947	21,245	73,016	69,530
Noninterest income:
Service charges and fees	1,099	1,060	1,071	3,176	3,127
Gain on sale of loans	260	358	447	699	1,210
Loan servicing income, net of amortization	564	541	605	1,693	1,773
Increase in cash surrender value of life insurance	427	411	403	1,241	1,170
Gain on other real estate owned	—	—	—	—	1,016
Other income	943	6,108	3,220	7,257	4,310
Total noninterest income	3,293	8,478	5,746	14,066	12,606
Noninterest expense:
Salaries and employee benefits	10,600	11,080	10,008	32,323	29,468
Occupancy and equipment expenses	2,425	2,377	2,518	7,209	7,400
Data processing	1,805	1,713	1,472	5,120	4,358
Legal and professional	1,450	2,904	958	5,869	3,098
Office expenses	444	405	348	1,257	1,056
Marketing and business promotion	252	212	252	661	613
Insurance and regulatory assessments	732	709	658	2,171	2,621
Core deposit intangible	172	172	200	516	602
Other expenses	803	921	1,007	2,572	2,298
Total noninterest expense	18,683	20,493	17,421	57,698	51,514
Net income before income taxes	13,262	12,932	9,570	29,384	30,622
Income tax expense	3,114	3,599	2,571	7,613	8,342
Net income	$10,148	$9,333	$6,999	$21,771	$22,280
Net income per share
Basic	$0.59	$0.53	$0.39	$1.24	$1.22
Diluted	$0.59	$0.52	$0.39	$1.24	$1.22
Weighted-average common shares outstanding
Basic	17,225,702	17,746,607	17,812,791	17,564,835	18,261,702
Diluted	17,301,627	17,797,735	17,885,359	17,621,599	18,313,086

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

(In thousands)

Three Months Ended · Nine Months Ended
	September 30, 2025	June 30, 2025	September 30, 2024	September 30, 2025	September 30, 2024
Net income	$10,148	$9,333	$6,999	$21,771	$22,280
Other comprehensive income:
Unrealized gain on securities available for sale	2,571	1,850	6,936	8,693	4,894
Related income tax effect	(999)	(568)	(2,111)	(2,877)	(1,472)
Total other comprehensive income	1,572	1,282	4,825	5,816	3,422
Total comprehensive income	$11,720	$10,615	$11,824	$27,587	$25,702

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 June 30, 2025	17,699,091	$259,863	$3,579	$270,152	$72	$(16,013)	$517,653
Net income	—	—	—	10,148	—	—	10,148
Stock-based compensation, net	—	—	270	—	—	—	270
Restricted stock units vested	4,024	74	(115)	—	—	—	(41)
Cash dividends on common stock ($0.16 per share)	—	—	—	(2,783)	—	—	(2,783)
Stock options exercised	—	—	—	—	—	—	—
Repurchase of common stock	(659,218)	(9,575)	—	(2,909)	—	—	(12,484)
Other comprehensive income, net of taxes	—	—	—	—	—	1,572	1,572
Balance at September 30, 2025	17,043,897	$250,362	$3,734	$274,608	$72	$(14,441)	$514,335
Balance at June 30, 2024	18,182,154	$266,160	$3,456	$262,518	$72	$(20,915)	$511,291
Net income	—	—	—	6,999	—	—	6,999
Stock-based compensation, net	—	—	264	—	—	—	264
Restricted stock units vested	3,537	79	(123)	—	—	—	(44)
Cash dividends on common stock ($0.16 per share)	—	—	—	(2,871)	—	—	(2,871)
Stock options exercised	16,000	384	(77)	—	—	—	307
Repurchase of common stock	(508,275)	(7,343)	—	(3,700)	—	—	(11,043)
Other comprehensive income, net of taxes	—	—	—	—	—	4,825	4,825
Balance at September 30, 2024	17,693,416	$259,280	$3,520	$262,946	$72	$(16,090)	$509,728

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	—	—	—	21,771	—	—	21,771
Stock-based compensation, net	—	—	1,450	—	—	—	1,450
Restricted stock units vested	60,430	1,033	(1,298)	—	—	—	(265)
Cash dividends on common stock ($0.48 per share)	—	—	—	(8,502)	—	—	(8,502)
Stock options exercised	10,000	234	(63)	—	—	—	171
Repurchase of common stock	(746,949)	(10,862)	—	(3,121)	—	—	(13,983)
Other comprehensive income, net of taxes	—	—	—	—	—	5,816	5,816
Balance at September 30, 2025	17,043,897	$250,362	$3,734	$274,608	$72	$(14,441)	$514,335
Balance at January 1, 2024	18,609,179	$271,925	$3,623	$255,152	$72	$(19,512)	$511,260
Net income	—	—	—	22,280	—	—	22,280
Stock-based compensation, net	—	—	1,092	—	—	—	1,092
Restricted stock units vested	35,737	672	(780)	—	—	—	(108)
Cash dividends on common stock ($0.48 per share)	—	—	—	(8,857)	—	—	(8,857)
Stock options exercised	85,250	1,721	(415)	—	—	—	1,306
Repurchase of common stock	(1,036,750)	(15,038)	—	(5,629)	—	—	(20,667)
Other comprehensive income, net of taxes	—	—	—	—	—	3,422	3,422
Balance at September 30, 2024	17,693,416	$259,280	$3,520	$262,946	$72	$(16,090)	$509,728

CONSOLIDATED STATEMENTS OF CASH FLOWS – (UNAUDITED)

(In thousands)

	Nine Months Ended
	September 30,
	2025	2024
Operating activities
Net income	$21,771	$22,280
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization of premises and equipment	1,400	1,424
Net accretion of securities, loans, deposits, and other	(2,679)	(3,617)
Amortization of investment in affordable housing tax credits	1,524	969
Amortization of intangible assets	1,405	1,735
Amortization of right-of-use asset	3,831	3,749
Change in operating lease liabilities	(3,727)	(3,540)
Provision for credit losses	9,758	3,857
Stock-based compensation	1,450	1,092
Deferred tax expense (benefit)	1,243	(733)
Gain on sale of loans	(699)	(1,210)
Gain on sale and transfer of OREO	—	(1,016)
Gain on sale of fixed assets	(42)	—
Increase in cash surrender value of life insurance	(1,241)	(1,170)
Loans originated for sale, net	(6,460)	(26,302)
Proceeds from loans held for sale	14,444	49,996
Other items	(10,432)	(6,493)
Net cash provided by operating activities	31,546	41,021
Investing activities
Securities available for sale:
Purchases	(216,805)	(259,383)
Maturities, repayments and calls	236,976	280,247
Securities held to maturity:
Maturities, repayments and calls	1,000	—
Net (increase) decrease in other equity securities	(188)	343
Net increase of investment in qualified affordable housing projects	(1,836)	(1,540)
Net increase in loans	(305,571)	(84,072)
Proceeds from sales of loans originally classified as HFI	35,120	—
Proceeds from sales of OREO	7,526	2,936
Proceeds from sale of fixed assets	42	—
Purchases of premises and equipment	(641)	(555)
Net cash used in investing activities	(244,377)	(62,024)
Financing activities
Net increase in demand deposits and savings accounts	46,139	37,362
Net increase (decrease) in time deposits	236,456	(120,016)
Proceeds from FHLB advances	170,000	50,000
Repayments of FHLB Advances	(240,000)	—
Cash dividends paid	(8,502)	(8,857)
Restricted stock units vesting	(265)	(108)
Common stock repurchased, net of repurchase costs	(13,983)	(20,667)
Exercise of stock options	171	1,306
Net cash provided by (used in) financing activities	190,016	(60,980)
Net decrease in cash and cash equivalents	(22,815)	(81,983)
Cash and cash equivalents at beginning of period	257,745	431,373
Cash and cash equivalents at end of period	$234,930	$349,390
Supplemental disclosure of cash flow information
Cash paid during the period:
Interest paid	$80,351	$94,328
Taxes paid	5,163	4,831
Non-cash investing and financing activities:
Transfer from loans to other real estate owned	12,666	1,920
Loans transferred to held for sale, net	31,911	20,094
Additions to servicing assets	156	280
Recognition of operating lease right-of-use assets	(88)	(3,229)
Recognition of operating lease liabilities	88	3,229

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.