Form 8-K - Groowe Newsroom

8-K — RBB Bancorp

Accession: 0001437749-26-012840

Filed: 2026-04-20

Period: 2026-04-20

CIK: 0001499422

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Other Events

Item: Financial Statements and Exhibits

Documents

8-K — rbb20260326_8k.htm (Primary)

EX-99.1 — EXHIBIT 99.1 (ex_937907.htm)

EX-99.2 — EXHIBIT 99.2 (ex_937908.htm)

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8-K — FORM 8-K

8-K (Primary)

Filename: rbb20260326_8k.htm · Sequence: 1

rbb20260326_8k.htm

false

0001499422

2026-04-20

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 20, 2026

RBB BANCORP

(Exact name of Registrant as Specified in Its Charter)

California

001-38149

27-2776416

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

1055 Wilshire Blvd., 12th floor,

Los Angeles, California

90017

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (213) 627-9888

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12 (b) of the Act:

Title of each class

Trading

Symbol(s)

Name of exchange on which registered

Common Stock, No Par Value

RBB

NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On April 20, 2026, RBB Bancorp (the “Company”) issued a press release setting forth the financial results for the quarter ended March 31, 2026, and information relating to the Company’s quarterly conference call and webcast. A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

The information furnished under Item 2.02 and Exhibit 99.1 of Item 9.01 of this Current Report on Form 8-K shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such Section, nor shall such information be deemed incorporated by reference into any registration statement or other filings of the Company under the Securities Act of 1933, as amended (the “Securities Act”), except as shall be expressly set for by specific reference in such filing.

Item 7.01 Regulation FD Disclosure.

On April 21, 2026, the Company will hold a conference call to discuss its financial results for the quarter ended March 31, 2026, and other matters relating to the Company. The Company has also made available on its website, www.royalbusinessbankusa.com, presentation materials containing certain historical and forward-looking information relating to the Company (the “Presentation Materials”). The Presentation Materials are furnished as Exhibit 99.2 hereto and are incorporated by reference herein. All information in Exhibit 99.2 is presented as of the particular date or dates referenced therein, and the Company does not undertake any obligation to, and disclaims any duty to, update any of the information provided.

The information furnished under Item 7.01 and Item 9.01 of this Current Report on Form 8-K (including Exhibit 99.2) shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of such Section, nor shall such information be deemed incorporated by reference into any registration statement or other filings of the Company under the Securities Act, except as otherwise expressly stated in such filing.

Item 8.01 Other Events.

On April 20, 2026, RBB Bancorp announced that its Board of Directors declared a cash dividend of $0.16 per share of its common stock, payable on May 15, 2026, to common shareholders of record as of April 30, 2026. A copy of the press release announcing the cash dividend described in this Item 8.01 is attached as Exhibit 99.1 hereto and incorporated by reference herein. The information contained in Exhibit 99.1 shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of such Section, nor shall such information and Exhibit be deemed incorporated by reference into any registration statement or other filings of the Company under the Securities Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d)

Exhibits.

99.1

Press Release, dated April 20, 2026, announcing the financial results of RBB Bancorp for the quarter March 31, 2026 and declaration of a quarterly cash dividend of $0.16 per common share

99.2

Presentation Materials

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

RBB BANCORP

(Registrant)

Date: April 20, 2026

By:

/s/ Lynn Hopkins

Lynn Hopkins

Chief Financial Officer

EX-99.1 — EXHIBIT 99.1

EX-99.1

Filename: ex_937907.htm · Sequence: 2

ex_937907.htm

Exhibit 99.1

RBB Bancorp Reports First Quarter 2026 Earnings and Declares Quarterly Cash Dividend of $0.16 Per Common Share

Los Angeles, CA, April 20, 2026 – RBB Bancorp (NASDAQ:RBB) and its subsidiaries, Royal Business Bank (the “Bank”) and RBB Asset Management Company (“RAM”), collectively referred to herein as the “Company,” announced financial results for the quarter ended March 31, 2026.

First Quarter 2026 Highlights

●

Net income totaled $11.3 million, or $0.66 diluted earnings per share

●

Pre-tax pre-provision income (1) totaled $15.5 million, a 16% increase compared to the prior quarter

●

Return on average assets of 1.09%, compared to 0.96% for the prior quarter

●

Net interest margin increased to 3.15%, from 2.99% for the prior quarter

●

Nonperforming assets decreased 9%, to $48.8 million at March 31, 2026, compared to prior quarter end

●

Book value and tangible book value per share(1) increased to $31.10 and $26.84 at March 31, 2026, up from $30.69 and $26.42 at December 31, 2025

The Company reported net income of $11.3 million, or $0.66 diluted earnings per share, for the quarter ended March 31, 2026, compared to net income of $10.2 million, or $0.59 diluted earnings per share, for the quarter ended December 31, 2025.

“First quarter results represented a strong start to 2026, with higher net interest income, expanding margin and lower credit costs driving net income of $11.3 million, or $0.66 per diluted share,” said Johnny Lee, President and Chief Executive Officer of RBB Bancorp. “Net interest margin increased to 3.15% as declining deposit costs and improved earning asset yields more than offset modest pressure on loan balances. We also continued to make progress on credit quality, with nonperforming assets declining 9% from the prior quarter. Retail deposit growth remained strong, and we believe our continued focus on disciplined loan growth, deposit gathering and resolving problem assets positions us to continue to enhance shareholder value through 2026.”

(1)

Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures are included at the end of this press release.

Net Interest Income and Net Interest Margin

Net interest income was $30.5 million for the first quarter of 2026, compared to $29.5 million for the fourth quarter of 2025. Net interest income increased $1.0 million despite 2 fewer days in the current quarter and was comprised of a $1.4 million decrease in interest expense, offset by a $390,000 decrease in interest income. The decrease in interest expense was due mostly to the impact of fewer days in the quarter and a decrease in the cost of interest-bearing liabilities while the average balances remained relatively unchanged quarter over quarter. The decrease in interest expense was comprised of a $3.4 million decrease in interest on time deposits, offset by a $2.0 million increase in interest on non-maturity interest-bearing accounts as a portion of the Bank’s maturing time deposits moved to a high-yield savings product. The decrease in interest income was due mostly to fewer days in the quarter and the impact of a lower yield on cash and securities, offset by the impact of a higher loan yield and a special Federal Home Loan Bank (“FHLB”) dividend in addition to their normal quarterly dividend. The decrease in interest income was comprised of a $509,000 decrease in loan interest income and a $315,000 decrease in interest on cash and investment securities, offset by the FHLB special dividend of $430,000.

The net interest margin (“NIM”) increased 16 basis points to 3.15% for the first quarter of 2026 from 2.99% for the fourth quarter of 2025. The NIM increase included an 8 basis point increase in the yield on average total interest-earning assets and an 8 basis point decrease in the overall cost of funds. The yield on average total interest-earning assets increased to 5.86% for the first quarter of 2026 from 5.78% for the fourth quarter of 2025 due mostly to the impact of a 7 basis point increase in the yield on average loans and a 4 basis point increase from the FHLB special dividend.

The average total cost of funds decreased to 2.96% for the first quarter of 2026 from 3.04% for the fourth quarter of 2025, due mostly to a 10 basis point decrease in the overall cost of deposits to 2.86% for the first quarter of 2026. The total cost of deposits decreased due to a 12 basis point decrease in the cost of average interest-bearing deposits to 3.39%. Average noninterest-bearing deposits represented approximately 16% of average total deposits for the first quarter of 2026 and fourth quarter of 2025. The period end weighted average interest rate for total deposits was 2.79% at March 31, 2026.

Provision for Credit Losses

The provision for credit losses was a $200,000 reversal for the first quarter of 2026 compared to a $600,000 provision for the fourth quarter of 2025. The first quarter of 2026 reversal of provision for credit losses was supported by paydowns on loans with specific reserves, the impact of stabilized credit quality trends and positive underlying economic forecast indicators, which offset the need for provisions related to new loan originations. Net charge-offs in the first quarter of 2026 represented 0.00% of average loans on an annualized basis, compared to 0.20% for the fourth quarter of 2025.

Noninterest Income

Noninterest income for the first quarter of 2026 was $4.3 million, an increase of $1.4 million from $2.8 million for the fourth quarter of 2025. The increase in noninterest income was mainly due to higher net gain on OREO of $890,000, recoveries of fully charged-off acquired loans of $484,000, and interest income on the tax refunds related to purchased federal tax credits of $360,000, offset partially by lower gain on sale of loans of $133,000. The sale of $4.9 million of mortgage loans and $4.0 million of Small Business Administration (“SBA”) loans resulted in gains of $324,000 for the first quarter of 2026 compared to the sale of mortgage loans of $22.0 million and SBA loans of $2.9 million for gains of $457,000 for the fourth quarter of 2025.

Noninterest Expense

Noninterest expense for the first quarter of 2026 was $19.3 million, an increase of $293,000 from $19.0 million for the fourth quarter of 2025. The increase in noninterest expense was due mainly to higher salaries and employee benefits of $528,000 attributed to higher payroll taxes, benefits and pay increases, which are typically reflected in the first quarter of the year. The efficiency ratio was 55.41% for the first quarter of 2026, compared to 58.69% for the fourth quarter of 2025. The decrease in the efficiency ratio is attributed mostly to higher net revenues.

Income Taxes

The effective tax rate was 28.0% for the first quarter of 2026 and 20.2% for the fourth quarter of 2025. The effective tax rate for 2026 is estimated to be 28.0% compared to 24.2% for 2025. The lower effective tax rate in 2025 compared to the estimated effective tax rate for 2026 is expected to result from a reduction in the multi-state blended tax rate year over year and benefits from purchased Federal tax credits recognized in 2025.

Balance Sheet

At March 31, 2026, total assets were $4.2 billion, a $14.0 million decrease compared to total assets of $4.2 billion at December 31, 2025, and a $184.9 million, or 4.6%, increase compared to total assets of $4.0 billion at March 31, 2025.

Loan and Securities Portfolio

Loans held for investment ("HFI") totaled $3.3 billion as of March 31, 2026, an increase of $10.9 million, or 1.3% annualized, compared to December 31, 2025 and an increase of $182.2 million, or 5.8%, compared to March 31, 2025. Net loan growth for the first quarter of 2026 included $131.1 million in originations with an average yield of 6.4% and $53.8 million in advances, offset mostly by payoffs/paydowns of $166.9 million and loans sold of $4.0 million. The loan to deposit ratio was 99.6% at March 31, 2026, compared to 99.0% at December 31, 2025 and 100.0% at March 31, 2025.

As of March 31, 2026, available for sale securities ("AFS") totaled $415.8 million, an increase of $8.6 million from December 31, 2025, primarily related to purchases of $54.9 million, offset by maturities and paydowns of $45.1 million during the first quarter of 2026. As of March 31, 2026, net unrealized pre-tax losses totaled $20.4 million, a $1.5 million increase due to changes in market interest rates when compared to net unrealized pre-tax losses of $18.9 million as of December 31, 2025.

Deposits

Total deposits were $3.3 billion as of March 31, 2026, a decrease of $10.5 million, or 1.3% annualized, compared to December 31, 2025 and an increase of $197.3 million, or 6.3%, compared to March 31, 2025. The decrease in total deposits during the first quarter of 2026 was due to a $61.9 million decrease in wholesale deposits, offset by a $51.4 million increase in retail deposits. The increase in retail deposits included a $219.4 million increase in non-maturity interest-bearing deposits and a $168.4 million decrease in time deposits as a portion of the Bank’s maturing time deposit accounts shifted into a high-yield savings product. Noninterest-bearing deposits totaled $526.9 million, or 15.8% of total deposits, at March 31, 2026, which is similar to the balances at December 31, 2025, and March 31, 2025.

Credit Quality

Nonperforming assets totaled $48.8 million, or 1.16% of total assets, at March 31, 2026, down from $53.5 million, or 1.27% of total assets, at December 31, 2025, and down from $64.6 million, or 1.61% of total assets, at March 31, 2025. The decrease in nonperforming assets included a decrease of $4.5 million in OREO (included in “accrued interest and other assets”) to $4.3 million at March 31, 2026, compared to $8.8 million at December 31, 2025, and $4.2 million at March 31, 2025. The decrease in OREO was primarily due to the sale of one property. The sale resulted in a $1.2 million gain, which was partially offset by a $350,000 valuation provision on a remaining OREO property.

Nonperforming loans (“NPLs”) remained stable at $44.6 million, or 1.34% of total loans, at March 31, 2026, down $64,000 from $44.6 million, or 1.35% of total loans, at December 31, 2025 and down $15.8 million, or 26%, from $60.4 million, or 1.92% of total loans, at March 31, 2025. The decrease in NPLs during the first quarter of 2026 was due to $860,000 in payoffs and paydowns and $622,000 in upgrades to accrual status, partially offset by additions of $1.4 million.

Substandard loans totaled $72.5 million, or 2.18% of total loans, at March 31, 2026, down from $75.2 million, or 2.27% of total loans, at December 31, 2025 and $76.4 million, or 2.43% of total loans, at March 31, 2025. The $2.7 million decrease in substandard loans during the first quarter of 2026 was primarily due to payoffs and paydowns totaling $3.0 million and upgrades to pass-rated loans of $1.1 million, partially offset by downgrades to substandard totaling $1.5 million. Of the total substandard loans outstanding at March 31, 2026, there were $27.9 million, or 39% of such loans, on accrual status.

Special mention loans totaled $24.8 million, or 0.75% of total loans, at March 31, 2026, up from $19.2 million, or 0.58% of total loans, at December 31, 2025, and down from $64.3 million, or 2.05% of total loans, at March 31, 2025. The $5.5 million increase for the first quarter of 2026 was primarily due to downgrades to special mention of $5.8 million, partially offset by paydowns of $303,000. As of March 31, 2026, all special mention loans were paying current.

30-89 day delinquent loans, excluding nonperforming loans, totaled $7.9 million, or 0.24% of total loans, at March 31, 2026, down from $8.8 million, or 0.27% of total loans, at December 31, 2025, and up from $5.9 million, or 0.19% of total loans at March 31, 2025. The $878,000 decrease for the first quarter of 2026 was mainly due to$3.4 million in loans returning to current status and $1.3 million in payoffs and paydowns, offset by $3.7 million in new delinquent loans.

As of March 31, 2026, the allowance for credit losses totaled $44.2 million and was comprised of an allowance for loan losses of $43.7 million and a reserve for unfunded commitments of $484,000 (included in “accrued interest and other liabilities”). This compares to the allowance for credit losses of $44.4 million, comprised of an allowance for loan losses of $43.9 million and a reserve for unfunded commitments of $484,000 at December 31, 2025. The $222,000 decrease in the allowance for credit losses for the first quarter of 2026 was due to a $200,000 reversal of provision for credit losses and net charge-offs of $22,000. The allowance for loan losses as a percentage of loans HFI totaled 1.31% at March 31, 2026, compared to 1.32% at December 31, 2025. The allowance for loan losses as a percentage of nonperforming loans HFI was 97.98% at March 31, 2026, down from 98.33% at December 31, 2025.

For the Three Months Ended March 31, 2026

(dollars in thousands)

Allowance for loan losses

Reserve for unfunded loan commitments

Allowance for credit losses

Beginning balance

43,888

484

44,372

Reversal of provision for credit losses

(200

)

—

(200

)

Less loans charged-off

(27

)

—

(27

)

Recoveries on loans charged-off

—

Ending balance

43,666

484

44,150

Shareholders' Equity

At March 31, 2026, total shareholders' equity was $531.1 million, a $7.6 million increase compared to December 31, 2025, and a $20.7 million increase compared to March 31, 2025. The increase in shareholders' equity for the first quarter of 2026 was due mostly to net income of $11.3 million, offset by common stock cash dividends paid of $2.8 million and higher net unrealized losses on AFS securities of $961,000.

Dividend Announcement

The Board of Directors has declared a quarterly cash dividend of $0.16 per common share. The dividend is payable on May 15, 2026 to shareholders of record on April 30, 2026.

Contact:

Lynn Hopkins, Chief Financial Officer

(213) 716-8066

lhopkins@rbbusa.com

Corporate Overview

RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California. As of March 31, 2026, the Company had total assets of $4.2 billion. Its wholly-owned subsidiary, Royal Business Bank, is a full service commercial bank, which provides consumer and business banking services predominately to the Asian-centric communities in Los Angeles County, Orange County, and Ventura County in California, in Las Vegas, Nevada, in Brooklyn, Queens, and Manhattan in New York, in Edison, New Jersey, in the Chicago neighborhoods of Chinatown and Bridgeport, Illinois, and on Oahu, Hawaii. Bank services include remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, 1-4 single family residential loans, trade finance, a full range of depository account products and wealth management services. The Bank has nine branches in Los Angeles County, two branches in Ventura County, one branch in Orange County, California, one branch in Las Vegas, Nevada, three branches and one loan operation center in Brooklyn, three branches in Queens, one branch in Manhattan in New York, one branch in Edison, New Jersey, two branches in Chicago, Illinois, and one branch in Honolulu, Hawaii. The Company's administrative and lending center is located at 1055 Wilshire Blvd., Los Angeles, California 90017, and its operations center is located at 7025 Orangethorpe Ave., Buena Park, California 90621. The Company's website address is www.royalbusinessbankusa.com.

Conference Call

Management will hold a conference call at 11:00 a.m. Pacific time/2:00 p.m. Eastern time on Tuesday, April 21, 2026, to discuss the Company’s first quarter 2026 financial results.

To listen to the conference call, please dial 1-888-506-0062 or 1-973-528-0011, the Participant ID code is 715551, conference ID RBBQ126. A replay of the call will be made available at 1-877-481-4010 or 1-919-882-2331, the passcode is 53853, approximately one hour after the conclusion of the call and will remain available through May 5, 2026.

The conference call will also be simultaneously webcast over the Internet; please visit our Royal Business Bank website at www.royalbusinessbankusa.com and click on the “Investors” tab to access the call from the site. This webcast will be recorded and available for replay on our website approximately two hours after the conclusion of the conference call.

Disclosure

This press release contains certain non-GAAP financial disclosures, which the Company uses to provide meaningful supplemental information regarding the Company’s operational performance and to enhance investors’ overall understanding of such financial performance. Please refer to the tables at the end of this press release for a presentation of performance ratios in accordance with GAAP and a reconciliation of the non-GAAP financial measures to the GAAP financial measures.

Safe Harbor

Certain matters set forth herein (including the exhibits hereto) constitute forward-looking statements relating to the Company’s current business plans and expectations and our future financial position and operating results. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, business and economic conditions generally and in the financial services industry, nationally and within our current and future geographic markets, including the tight labor market, ineffective management of the United States (“U.S.”) federal budget or debt or turbulence or uncertainly in domestic or foreign financial markets; the strength of the U.S. economy in general and the strength of the local economies in which we conduct operations; adverse developments in the banking industry highlighted by high-profile bank failures and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments; federal government shutdowns and uncertainty regarding the federal government’s debt limit; possible additional provisions for credit losses and charge-offs; credit risks of lending activities and deterioration in asset or credit quality; extensive laws and regulations and supervision that we are subject to, including potential supervisory action by bank supervisory authorities; compliance with the Bank Secrecy Act and other money laundering statutes and regulations; potential goodwill impairment; liquidity risk; failure to comply with debt covenants; risks associated with acquisitions and the expansion of our business into new markets; inflation and deflation; real estate market conditions and the value of real estate collateral; the effects of having concentrations in our loan portfolio, including commercial real estate and the risks of geographic and industry concentrations; environmental liabilities; our ability to compete with larger competitors; our ability to retain key personnel; successful management of reputational risk; severe weather, natural disasters, earthquakes, fires, or other adverse external events could harm our business; geopolitical conditions, including acts or threats of terrorism, actions taken by the U.S. or other governments in response to acts or threats of terrorism and/or military conflicts, including the war between Russia and Ukraine, conflict in the Middle East, and increasing tensions between China and Taiwan, which could impact business and economic conditions in the U.S. and abroad; tariffs, trade policies, and related tensions, which could impact our clients, specific industry sectors, and/or broader economic conditions and financial market; public health crises and pandemics, and their effects on the economic and business environments in which we operate, including our credit quality and business operations, as well as the impact on general economic and financial market conditions; general economic or business conditions in Asia, and other regions where the Bank has operations; failures, interruptions, or security breaches of our information systems; climate change, including any enhanced regulatory, compliance, credit and reputational risks and costs; cybersecurity threats and the cost of defending against them; our ability to adapt our systems to the expanding use of technology in banking; risk management processes and strategies; the impact of regulatory enforcement actions, if any; certain provisions in our charter and bylaws that may affect acquisition of the Company; changes in tax laws and regulations; the impact of governmental efforts to restructure the U.S. financial regulatory system and increased costs of compliance and other risks associated with changes in regulation, including any amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act; the impact of changes in the Federal Deposit Insurance Corporation ("FDIC") insurance assessment rate and the rules and regulations related to the calculation of the FDIC insurance assessments; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the U.S. Securities and Exchange Commission ("SEC"), the Public Company Accounting Oversight Board, the Financial Accounting Standards Board (FASB) or other accounting standards setters; fluctuations in the Company’s stock price; restrictions on dividends and other distributions by laws and regulations and by our regulators and our capital structure; our ability to raise additional capital, if needed, and the potential resulting dilution of interests of holders of our common stock; the soundness of other financial institutions; our ongoing relations with our various federal and state regulators, including the SEC, FDIC, Federal Reserve Bank, California Department of Financial Protection and Innovation, and Consumer Financial Protection Bureau; our success at managing the risks involved in the foregoing items and all other factors set forth in the Company’s public reports, including its Annual Report as filed under Form 10-K for the year ended December 31, 2025, and particularly the discussion of risk factors within that document. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company’s earnings or shareholders, are for illustrative purposes only, are not forecasts, and actual results may differ.

RBB BANCORP AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(Dollars in thousands)

March 31,

December 31,

September 30,

June 30,

March 31,

2026

2025

Assets

Cash and due from banks

23,893

27,086

24,251

27,338

25,315

Interest-earning deposits with financial institutions

173,017

185,231

210,679

164,514

213,508

Cash and cash equivalents

196,910

212,317

234,930

191,852

238,823

Interest-earning time deposits with financial institutions

600

Investment securities available for sale

415,789

407,204

410,631

413,142

378,188

Investment securities held to maturity

4,182

4,184

4,185

4,186

5,188

Loans held for sale

—

2,067

756

—

655

Loans held for investment

3,325,232

3,314,301

3,302,577

3,234,695

3,143,063

Allowance for loan losses

(43,666

)

(43,888

)

(44,892

)

(51,014

)

(51,932

)

Net loans held for investment

3,281,566

3,270,413

3,257,685

3,183,681

3,091,131

Premises and equipment, net

23,204

23,540

23,851

23,945

24,308

Federal Home Loan Bank (FHLB) stock

15,000

Cash surrender value of bank owned life insurance

62,403

61,972

61,538

61,111

60,699

Goodwill

71,498

Servicing assets

5,834

6,041

6,252

6,482

6,766

Core deposit intangibles

1,204

1,338

1,495

1,667

1,839

Right-of-use assets

22,601

23,026

24,305

25,554

26,779

Accrued interest and other assets

93,521

109,094

95,729

91,322

87,926

Total assets

4,194,312

4,208,294

4,208,455

4,090,040

4,009,400

Liabilities and shareholders' equity

Deposits:

Noninterest-bearing demand

526,882

526,538

550,488

543,885

528,205

Savings, NOW and money market accounts

1,175,735

956,299

721,697

691,679

721,216

Time deposits, $250,000 and under

863,717

974,670

1,119,258

1,010,674

1,000,106

Time deposits, greater than $250,000

773,550

892,891

975,054

941,993

893,101

Total deposits

3,339,884

3,350,398

3,366,497

3,188,231

3,142,628

FHLB advances

130,000

180,000

160,000

Long-term debt, net of issuance costs

120,000

119,911

119,815

119,720

119,624

Subordinated debentures

15,429

15,375

15,320

15,265

15,211

Lease liabilities - operating leases

24,379

24,800

26,066

27,294

28,483

Accrued interest and other liabilities

33,566

44,400

36,422

41,877

33,148

Total liabilities

3,663,258

3,684,884

3,694,120

3,572,387

3,499,094

Shareholders' equity:

Common stock

251,050

250,694

250,362

259,863

260,284

Additional paid-in capital

3,649

3,941

3,734

3,579

3,360

Retained earnings

290,566

282,024

274,608

270,152

263,885

Non-controlling interest

Accumulated other comprehensive loss, net

(14,283

)

(13,321

)

(14,441

)

(16,013

)

(17,295

)

Total shareholders' equity

531,054

523,410

514,335

517,653

510,306

Total liabilities and shareholders’ equity

4,194,312

4,208,294

4,208,455

4,090,040

4,009,400

RBB BANCORP AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

(In thousands, except share and per share data)

For the Three Months Ended

March 31, 2026

December 31, 2025

March 31, 2025

Interest and dividend income:

Interest and fees on loans

49,938

50,447

45,621

Interest on interest-earning deposits

1,883

2,027

2,014

Interest on investment securities

3,969

4,140

4,136

Dividend income on FHLB stock

760

331

330

Interest on federal funds sold and other

253

248

235

Total interest and dividend income

56,803

57,193

52,336

Interest expense:

Interest on savings deposits, NOW and money market accounts

7,347

5,316

4,468

Interest on time deposits

16,221

19,588

19,084

Interest on long-term debt and subordinated debentures

1,599

1,623

1,632

Interest on FHLB advances

1,133

1,158

989

Total interest expense

26,300

27,685

26,173

Net interest income before provision for credit losses

30,503

29,508

26,163

(Reversal of)/provision for credit losses

(200

)

600

6,746

Net interest income after (reversal of)/provision for credit losses

30,703

28,908

19,417

Noninterest income:

Service charges and fees

1,032

1,011

1,017

Gain on sale of loans

324

457

Loan servicing fees, net of amortization

504

556

588

Increase in cash surrender value of life insurance

431

435

403

Gain on OREO

890

—

Other income

1,070

348

206

Total noninterest income

4,251

2,807

2,295

Noninterest expense:

Salaries and employee benefits

11,261

10,733

10,643

Occupancy and equipment expenses

2,511

2,435

2,407

Data processing

1,708

1,750

1,602

Legal and professional

1,503

1,601

1,515

Office expenses

359

477

408

Marketing and business promotion

215

202

197

Insurance and regulatory assessments

749

753

730

Core deposit premium

134

156

172

Other expenses

818

858

848

Total noninterest expense

19,258

18,965

18,522

Income before income taxes

15,696

12,750

3,190

Income tax expense

4,396

2,573

900

Net income

11,300

10,177

2,290

Net income per share

Basic

0.66

0.60

0.13

Diluted

0.66

0.59

0.13

Cash dividends declared per common share

0.16

Weighted-average common shares outstanding

Basic

17,063,757

17,049,834

17,727,712

Diluted

17,174,526

17,140,478

17,770,588

RBB BANCORP AND SUBSIDIARIES

AVERAGE BALANCE SHEET AND NET INTEREST INCOME

(Unaudited)

For the Three Months Ended

March 31, 2026

December 31, 2025

March 31, 2025

Average

Interest

Yield /

Average

Interest

Yield /

Average

Interest

Yield /

(tax-equivalent basis, dollars in thousands)

Balance

& Fees

Rate

Balance

& Fees

Rate

Balance

& Fees

Rate

Interest-earning assets

Cash and cash equivalents (1)

215,930

2,136

4.01

209,899

2,275

4.30

194,236

2,249

4.70

FHLB Stock

15,000

760

20.55

15,000

331

8.75

15,000

330

8.92

Securities

Available for sale (2)

404,610

3,955

3.96

399,805

4,127

4.10

390,178

4,113

4.28

Held to maturity (2)

4,183

3.68

4,184

3.60

5,189

3.83

Total loans (3)

3,296,165

49,938

6.14

3,295,603

50,447

6.07

3,079,224

45,621

6.01

Total interest-earning assets

3,935,888

56,827

5.86

3,924,491

57,218

5.78

3,683,827

52,362

5.76

Total noninterest-earning assets

268,010

264,604

260,508

Total average assets

4,203,898

4,189,095

3,944,335

Interest-bearing liabilities

NOW

73,637

398

2.19

78,039

456

2.32

61,222

321

2.13

Money market

529,013

3,795

2.91

525,828

3,987

3.01

463,443

3,625

3.17

Savings deposits

441,123

3,154

2.90

191,841

873

1.81

155,116

522

1.36

Time deposits, $250,000 and under

926,226

8,313

3.64

1,044,315

9,927

3.77

989,622

10,046

4.12

Time deposits, greater than $250,000

845,786

7,908

3.79

972,354

9,661

3.94

864,804

9,038

4.24

Total interest-bearing deposits

2,815,785

23,568

3.39

2,812,377

24,904

3.51

2,534,207

23,552

3.77

FHLB advances

130,000

1,133

3.53

130,000

1,158

3.53

176,833

989

2.27

Long-term debt

119,945

1,289

4.36

119,848

1,295

4.29

119,562

1,295

4.39

Subordinated debentures

15,394

310

8.17

15,339

328

8.48

15,175

337

9.01

Total borrowings

265,339

2,732

4.18

265,187

2,781

4.16

311,570

2,621

3.41

Total interest-bearing liabilities

3,081,124

26,300

3.46

3,077,564

27,685

3.57

2,845,777

26,173

3.73

Noninterest-bearing liabilities

Noninterest-bearing deposits

526,151

531,017

520,145

Other noninterest-bearing liabilities

67,241

61,320

66,151

Total noninterest-bearing liabilities

593,392

592,337

586,296

Shareholders' equity

529,382

519,194

512,262

Total liabilities and shareholders' equity

4,203,898

4,189,095

3,944,335

Net interest income / interest rate spreads

30,527

2.40

29,533

2.21

26,189

2.03

Net interest margin

3.15

2.99

2.88

Total cost of deposits

3,341,936

23,568

2.86

3,343,394

24,904

2.96

3,054,352

23,552

3.13

Total cost of funds

3,607,275

26,300

2.96

3,608,581

27,685

3.04

3,365,922

26,173

3.15

(1)

Includes income and average balances for interest-earning time deposits and other miscellaneous interest-earning assets.

(2)

Interest income and average rates for tax-exempt securities are presented on a tax-equivalent basis.

(3)

Average loan balances relate to loans held for investment and loans held for sale and include nonaccrual loans. Interest income on loans includes the effects of discount accretion and net deferred loan origination fees and costs accounted for as yield adjustments.

RBB BANCORP AND SUBSIDIARIES

SELECTED FINANCIAL HIGHLIGHTS

(Unaudited)

At or for the Three Months Ended

March 31,

December 31,

March 31,

2026

2025

Per share data (common stock)

Book value

31.10

30.69

28.77

Tangible book value (1)

26.84

26.42

24.63

Performance ratios

Return on average assets, annualized

1.09

0.96

0.24

Return on average shareholders' equity, annualized

8.66

7.78

1.81

Return on average tangible common equity, annualized (1)

10.04

9.05

2.12

Noninterest income to average assets, annualized

0.41

0.27

0.24

Noninterest expense to average assets, annualized

1.86

1.80

1.90

Yield on average earning assets

5.86

5.78

5.76

Yield on average loans

6.14

6.07

6.01

Cost of average total deposits (2)

2.86

2.96

3.13

Cost of average interest-bearing deposits

3.39

3.51

3.77

Cost of average interest-bearing liabilities

3.46

3.57

3.73

Net interest spread

2.40

2.21

2.03

Net interest margin

3.15

2.99

2.88

Efficiency ratio (3)

55.41

58.69

65.09

Common stock dividend payout ratio

24.24

26.67

123.08

(1)

Non-GAAP measure. See Non–GAAP reconciliations set forth at the end of this press release.

(2)

Total deposits include noninterest-bearing deposits and interest-bearing deposits.

(3)

Ratio calculated by dividing noninterest expense by the sum of net interest income before (reversal of)/provision for credit losses and noninterest income.

RBB BANCORP AND SUBSIDIARIES

SELECTED FINANCIAL HIGHLIGHTS

(Unaudited)

(Dollars in thousands)

At or for the quarter ended

March 31,

December 31,

March 31,

2026

2025

Credit Quality Data:

Special mention loans

24,778

19,237

64,279

Special mention loans to total loans HFI

0.75

0.58

2.05

Substandard loans HFI

72,494

75,175

76,372

Substandard loans HFI to total loans HFI

2.18

2.27

2.43

Loans 30-89 days past due, excluding nonperforming loans

7,911

8,789

5,927

Loans 30-89 days past due, excluding nonperforming loans, to total loans

0.24

0.27

0.19

Nonperforming loans HFI

44,568

44,632

60,380

OREO

4,268

8,830

4,170

Nonperforming assets

48,836

53,462

64,550

Nonperforming loans to total loans HFI

1.34

1.35

1.92

Nonperforming assets to total assets

1.16

1.27

1.61

Allowance for loan losses

43,666

43,888

51,932

Allowance for loan losses to total loans HFI

1.31

1.32

1.65

Allowance for loan losses to nonperforming loans HFI

97.98

98.33

86.01

Net charge-offs

1,624

2,643

Net charge-offs to average loans

0.00

0.20

0.35

Capital ratios (1)

Tangible common equity to tangible assets (2)

11.12

10.90

11.10

Tier 1 leverage ratio

11.77

11.60

12.07

Tier 1 common capital to risk-weighted assets

17.85

17.49

17.87

Tier 1 capital to risk-weighted assets

18.41

18.06

18.45

Total capital to risk-weighted assets

24.20

23.83

24.42

(1)

March 31, 2026 capital ratios are preliminary.

(2)

Non-GAAP measure. See non-GAAP reconciliations set forth at the end of this press release.

RBB BANCORP AND SUBSIDIARIES

SELECTED FINANCIAL HIGHLIGHTS

(Unaudited)

Loan Portfolio Detail

As of March 31, 2026

As of December 31, 2025

As of March 31, 2025

(dollars in thousands)

Loans:

Single-family residential mortgages

1,682,728

50.6

1,655,382

50.0

1,545,822

49.2

Commercial real estate (1)

1,274,105

38.3

1,303,019

39.3

1,245,402

39.6

Construction and land development

159,292

4.8

155,464

4.7

158,883

5.1

Commercial and industrial

152,911

4.6

140,061

4.2

135,538

4.3

SBA

52,279

1.6

55,978

1.7

50,651

1.6

Other loans

3,917

0.1

4,397

0.1

6,767

0.2

Total loans held for investment

3,325,232

100.0

3,314,301

100.0

3,143,063

100.0

Allowance for loan losses

(43,666)

(43,888

)

(51,932

)

Total loans held for investment, net

3,281,566

3,270,413

3,091,131

(1)

Includes non-farm and non-residential loans, multi-family residential loans and non-owner occupied single family residential loans.

Deposits

As of March 31, 2026

As of December 31, 2025

As of March 31, 2025

(dollars in thousands)

Deposits:

Noninterest-bearing demand

526,882

15.8%

526,538

15.7

528,205

16.8

Savings, NOW and money market accounts

1,175,735

35.2%

956,299

28.6

721,216

22.9

Time deposits, $250,000 and under

740,429

22.2%

790,225

23.6

863,962

27.5

Time deposits, greater than $250,000

733,046

21.9%

851,637

25.4

870,708

27.8

Wholesale deposits (1)

163,792

4.9%

225,699

6.7

158,537

5.0

Total deposits

3,339,884

100.0%

3,350,398

100.0

3,142,628

100.0

(1)

Includes brokered deposits, collateralized deposits from the State of California, and deposits acquired through internet listing services.

Non-GAAP Reconciliations

Tangible Book Value Reconciliations

Tangible book value per share is a non-GAAP disclosure. Management measures tangible book value per share to assess the Company’s capital strength and business performance and believes this is helpful to investors as additional tools for further understanding our performance. The following is a reconciliation of tangible book value to the Company shareholders’ equity computed in accordance with GAAP, as well as a calculation of tangible book value per share as of the dates indicated.

(dollars in thousands, except share and per share data)

March 31, 2026

December 31, 2025

March 31, 2025

Tangible common equity:

Total shareholders' equity

531,054

523,410

510,306

Adjustments

Goodwill

(71,498

)

(71,498

)

(71,498

)

Core deposit intangible

(1,204

)

(1,338

)

(1,839

)

Tangible common equity

458,352

450,574

436,969

Tangible assets:

Total assets-GAAP

4,194,312

4,208,294

4,009,400

Adjustments

Goodwill

(71,498

)

(71,498

)

(71,498

)

Core deposit intangible

(1,204

)

(1,338

)

(1,839

)

Tangible assets

4,121,610

4,135,458

3,936,063

Common shares outstanding

17,074,159

17,057,397

17,738,628

Common equity to assets ratio

12.66

12.44

12.73

Tangible common equity to tangible assets ratio

11.12

10.90

11.10

Book value per share

31.10

30.69

28.77

Tangible book value per share

26.84

26.42

24.63

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

(dollars in thousands)

March 31, 2026

December 31, 2025

March 31, 2025

Net income available to common shareholders

11,300

10,177

2,290

Average shareholders' equity

529,382

519,194

512,262

Adjustments:

Average goodwill

(71,498

)

(71,498

)

(71,498

)

Average core deposit intangible

(1,288

)

(1,440

)

(1,951

)

Adjusted average tangible common equity

456,596

446,256

438,813

Return on average common equity, annualized

8.66

7.78

1.81

Return on average tangible common equity, annualized

10.04

9.05

2.12

Pre-Tax Pre-Provision Income

Management believes that pre-tax pre-provision (“PTPP”) income is a useful measure for investors to evaluate core operating performance, excluding the volatility of credit provision expenses. PTPP income is calculated by subtracting noninterest expense from the sum of net interest income and noninterest income, as shown in the following table.

Three Months Ended

(dollars in thousands)

March 31, 2026

December 31, 2025

March 31, 2025

Net interest income before provision for credit losses

30,503

29,508

26,163

Add: Noninterest income

4,251

2,807

2,295

Less: Noninterest expense

(19,258

)

(18,965

)

(18,522

)

Pre-tax pre-provision income

15,496

13,350

9,936

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v3.26.1

Document And Entity Information

Apr. 20, 2026

Document Information [Line Items]

Entity, Registrant Name

RBB BANCORP

Document, Type

8-K

Document, Period End Date

Apr. 20, 2026

Entity, Incorporation, State or Country Code

Entity, File Number

001-38149

Entity, Tax Identification Number

27-2776416

Entity, Address, Address Line One

1055 Wilshire Blvd.

Entity, Address, Address Line Two

12th floor

Entity, Address, City or Town

Los Angeles

Entity, Address, State or Province

Entity, Address, Postal Zip Code

90017

City Area Code

213

Local Phone Number

627-9888

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false

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false

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false

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Common Stock

Trading Symbol

RBB

Security Exchange Name

NASDAQ

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-Number 240

-Section 12

-Subsection b-2

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- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

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- Definition

Two-character EDGAR code representing the state or country of incorporation.

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No definition available.

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- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

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-Subsection b-2

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Local phone number for entity.

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No definition available.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

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- Definition

Title of a 12(b) registered security.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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- Definition

Name of the Exchange on which a security is registered.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

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-Subsection 12

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Trading symbol of an instrument as listed on an exchange.

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No definition available.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

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