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EX - 99.1 2 ex_236690.htm EXHIBIT 99.1 Press Release For Immediate Release Exhibit 99.1 RBB BANCORP 皇 佳 商業 金控 Contacts : Yee Phong ( Alan ) Thian Chairman , President and CEO ( 626 ) 307-7559 David Morris Executive Vice President and CFO ( 714 ) 670-2488 RBB Bancorp Reports First Quarter Earnings for 2021 Conference Call and Webcast Scheduled for Tuesday , April 27 , 2021 at 11:00 a.m. Pacific Time / 2 : 00 p.m. Eastern Time First Quarter 2021 Highlights • Reported record net income of $ 12.5 million , or $ 0.63 diluted earnings per share , increased $ 1.3 million , or 11.7 % , from the prior quarter and increased $ 5.7 million , or 84.6 % , from the first quarter of 2020 • Non - interest bearing deposits increased by $ 170.2 million , or 27.6 % , from the end of the prior quarter • Net interest margin of 3.73 % increased by 6 basis points from the prior quarter and increased 36 basis points from the first quarter of 2020 • Declared quarterly cash dividend of $ 0.13 per common share Los Angeles , CA , April 26 , 2021 – 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 , 2021 . The Company reported record net income of $ 12.5 million , or $ 0.63 diluted earnings per share , for the three months ended March 31 , 2021 , compared to net income of $ 11.1 million , or $ 0.56 diluted earnings per share , and $ 6.7 million , or $ 0.33 diluted earnings per share , for the three months ended December 31 , 2020 and March 31 , 2020 , respectively . " Royal Business Bank started 2021 with excellent first quarter results as our differentiated business model benefited from a rapidly improving economy , ” said Mr. Alan Thian , Chairman , President and CEO of RBB Bancorp . “ We reported record net income , improving margins , stable credit quality and strong growth in noninterest - bearing deposits . We raised $ 120 million of subordinated debt which dramatically increases our ability to pursue profitable organic and strategic growth opportunities . We believe we are well - positioned to accelerate our profitable growth in 2021 by providing exceptional customer service to the individuals , businesses and communities we serve . "