RBB银行 2025年季度报告

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT For the transition period from ______ to ______ RBB BANCORP (State or other jurisdiction ofincorporation or organization) 1055Wilshire Blvd., Suite 1200,Los Angeles,California90017(Address of principal executive offices)(Zip Code) Largeacceleratedfiler☐Non-accelerated filer☐ Stock-based compensation, net——Restricted stock units vested18,212327 Other comprehensive income, net of 17,738,628$260,284$ 18,609,1 Net incomeStock-based compensation, net Restricted stock units vested8,238145(209)———Cash dividends on common stock($0.16per share)———(2,976)——Stock options exercised41,000747(206)———Repurchase of common stock(80,285)(1,172)—(309)——Other comprehensive loss, net of taxes—————(1,470) The accompanying notes are an integral part of these unaudited consolidated financial statements. CONSOLIDATED STATEMENTS OF CASH FLOWS – (UNAUDITED)(In thousands) Three Months EndedMarch 31,20252024Operating activitiesNet income$2,290$Adjustments to reconcile net income to net cash from operating activities: Depreciation and amortization of premises and equipment477Net accretion of securities, loans, deposits, and other(857)Amortization of investment in affordable housing tax credits419Amortization of intangible assets458 Stock-based compensation255Deferred tax benefit(1,362)Gain on sale of loans(81) Other items Securities available for sale:Purchases Net increase in other equity securitiesNet increase of investment in qualified affordable housing projects Net increase in loans(110,430)Proceeds from sales of loans originally classified as HFI13,890Proceeds from sales of OREO7,526Purchases of premises and equipment(180)Net cash used in investing activities(42,432)Financing activitiesNet increase in demand deposits and savings accounts23,375Net increase (decrease) in time deposits35,440(156,474) Net cash provided by (used in) financing activitiesNet decrease in cash and cash equivalents Cash and cash equivalents at beginning of period257,745Cash and cash equivalents at end of period$238,823$Supplemental disclosure of cash flow informationCash paid during the period:Interest paid$28,646$ NOTE1- BUSINESS DESCRIPTIONRBB Bancorp (“RBB”) is a bankholding company registered under the Bank Holding Company Act of1956,as amended.RBB Bancorp’s principal business is to serve as the holding company for its wholly-owned banking subsidiaries, Royal BusinessBank ("Bank") and RBB Asset Management Company (“RAM”). RAM was formed to hold and manage problem assets acquiredin business combinations. When we refer to “we”, “us”, “our”, or the “Company”, we are referring to RBB Bancorp and itsconsolidated subsidiaries including the Bank and RAM, collectively. When we refer to the “parent company”, “Bancorp”, or the service branches located in Los Angeles County, Orange County and Ventura County in California, Las Vegas (Nevada), the NewYork City metropolitan areas, Chicago (Illinois), Edison (New Jersey) and Honolulu (Hawaii). The products and services includecommercial and investor real estate loans, business loans and lines of credit, Small Business Administration (“SBA”)7Aand504 operations for thethreemonths endedMarch31,2025arenotnecessarily indicative of the results for the full year. These interimunaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements andthe notes thereto as of and for the year endedDecember 31, 2024,included in our Annual Report on Form10-Kfor the fiscal yearendedDecember 31, 2024(our“2024Annual Report”). Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptionsthat affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial financial instruments are particularly subject to change and such change could have a material effect on the consolidated financialstatements. Summary of Significant Accounting PoliciesThe accompanying unaudited consolidated financial statements were compiled in accordance with the accounting policies Corporate debt securities34,71753(2,674)Municipal tax-exempt securities12,593—(3,655)Total available for sale$403,142$976$(25,930)$ One Year or LessMore than OneYear to Five YearsMore than FiveYears to Ten YearsMore than TenYearsTotal zedCostFairValuezedCostFairValuezedCostFairValuezedCostFairValuezedCostMarch 31, 2025(dollars in thousands)Government agency$154$152$10,147$9,919$9,878$9,897$—$—$20,179SBA agency securities——7,1907,13918,45418,432——25,644Mortgage-backed securities: obligations: commercial5,0885,03933,82933,69053,79351,666——92,710Commercial paper37,44637,440——————37,446Corporate debt securities4,0243,99111,93411,56616,15014,6722,6091,86734,717Municipal tax-exempt Municipal taxable securities$ December 31, 2024 Government agenc