Page 1

EX - 99.1 2 ex 244693.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 President and CEO ( 626 ) 307-7559 David Morris Executive Vice President and CFO ( 714 ) 670-2488 RBB Bancorp Reports Second Quarter Earnings for 2021 Conference Call and Webcast Scheduled for Tuesday , July 27 , 2021 at 11:00 a.m. Pacific Time / 2 : 00 p.m. Eastern Time Second Quarter 2021 Highlights • Reported record net income of $ 13.4 million , or $ 0.67 diluted earnings per share , increased $ 924,000 , or 7.4 % , from the prior quarter and increased $ 6.9 million , or 105.4 % , from the second quarter of 2020 • Total deposits increased by $ 248.6 million , or 35.3 % annualized growth , from the end of the prior quarter • Loan growth ( ex - mortgage ) of $ 51.0 million , or 12.2 % annualized , from the end of the prior quarter • Declared quarterly cash dividend of $ 0.13 per common share Los Angeles , CA , July 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 June 30 , 2021 . The Company reported record net income of $ 13.4 million , or $ 0.67 diluted earnings per share , for the three months ended June 30 , 2021 , compared to net income of $ 12.5 million , or $ 0.63 diluted earnings per share , and $ 6.5 million , or $ 0.33 diluted earnings per share , for the three months ended March 31 , 2021 and June 30 , 2020 , respectively . " We are pleased to report diluted earnings per share of $ 0.67 , for the second quarter , ” said Alan Thian , President and CEO of Royal Business Bank . " Continued focus on our deposit franchise reduced the cost of our interest - bearing deposits and delivered strong growth in non - interest bearing deposits which now comprise 30.6 % of total deposits . While our net interest margin declined due to excess liquidity , our disciplined loan origination efforts kept our loan balance and yields stable . Our acquisition of the Hawaiian branch of the Bank of the Orient expands our presence in a vibrant Asian - American community and positions us for profitable growth . " " Royal Business Bank's excellent second quarter results demonstrate the continued strength of our differentiated business model and commitment to enhancing long - term shareholder value . " said Dr. James Kao , Chairman of RBB Bancorp . " We remain well - positioned to pursue additional organic and strategic growth opportunities . "