RBB Bancorp Q3 2023 net income $12.0M ($0.63 EPS); net interest margin down to 2.87%

RBB Bancorp

2023-Q3 EPS reported $1.60 revenue$4,105,000

Net income $12.0M ($0.63 diluted EPS), versus $10.9M ($0.58) in Q2 2023 and $16.7M ($0.87) a year ago.
Net interest margin fell 50 bps to 2.87%; net interest income $27.6M, down $4.3M from prior quarter.
Noninterest income jumped to $7.7M, including a $5.0M CDFI Equitable Recovery Program award from US Treasury.
Declared quarterly cash dividend of $0.16 per share, payable Nov 10, 2023, record Oct 30, 2023.
Will redeem $55 million of 2028 Fixed-to-Floating Subordinated Notes on Dec 1, 2023; tier 1 common equity ratio 17.8%.

item 2.02 item 9.01 item 7.01 item 8.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

RBB Bancorp reported the quarter ended September 30, 2023 results: net income net income of $12.0 million, EPS $0.63 diluted earnings per share.

Period: the quarter ended September 30, 2023
Net income: net income of $12.0 million
EPS: $0.63 diluted earnings per share
Result: reported results

Exact text from the filing

RBB Bancorp Reports Third Quarter 2023 Earnings Los Angeles, CA, October 23 , 20 23 – 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 September 30, 2023. The Company reported net income of $12.0 million, or $0.63 diluted earnings per share, for the quarter ended September 30, 2023

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Source: SEC EDGAR

accession 0001437749-23-028780

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