RBB Bancorp Q1 net income $8.0M ($0.43 EPS); CFO Hopkins permanently appointed; dividend $0.16

RBB Bancorp

2024-Q1 EPS reported $0.43 revenue$1,343,000

Q1 2024 net income $8.0M ($0.43 diluted EPS) vs $12.1M ($0.64) in Q4 2023; prior quarter included $5.0M CDFI award pre-tax.
Net interest margin 2.69%, down 4bp from 2.73%; loan portfolio flat at ~$3.0B; deposits down $146.4M (4.6%) from Dec 2023.
Nonperforming assets $37.0M (0.95% of assets), up from $31.6M (0.79%) at Dec 2023; provision for credit losses zero vs reversal of $431K last quarter.
Permanent CFO Lynn Hopkins appointed April 22, 2024; 3-year agreement, base salary $410K, $175K RSU award vesting over 5 years, severance terms.
Declared $0.16/share dividend payable May 13 (record May 1); board authorized 1M share buyback; 80,285 shares repurchased at avg $18.39 in Q1.

item 2.02 item 9.01 item 5.02 item 7.01 item 8.01

Executive movements

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Role change

Lynn M. Hopkins

Executive Vice President and Chief Financial Officer

RBB · RBB Bancorp

Effective: 2024-04-22
Filed: April 22, 2024, 7:59 PM ET

appointed Ms. Lynn M. Hopkins, Interim Executive Vice President and Chief Financial Officer of the Company and the Bank, as the Company’s and the Bank’s permanent Executive Vice President and Chief Financial Officer.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

RBB Bancorp reported quarter ended March 31, 2024 results: net income $8.0 million, EPS $0.43 diluted earnings per share.

Period: quarter ended March 31, 2024
Net income: $8.0 million
EPS: $0.43 diluted earnings per share
Result: reported results

Exact text from the filing

The Company reported net income of $8.0 million, or $0.43 diluted earnings per share, for the quarter ended March 31, 2024, compared to net income of $12.1 million, or $0.64 diluted earnings per share, for the quarter ended December 31, 2023.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

RBB Bancorp reported quarter ended December 31, 2023 results: net income $12.1 million, EPS $0.64 diluted earnings per share.

Period: quarter ended December 31, 2023
Net income: $12.1 million
EPS: $0.64 diluted earnings per share
Result: reported results

Exact text from the filing

The Company reported net income of $8.0 million, or $0.43 diluted earnings per share, for the quarter ended March 31, 2024, compared to net income of $12.1 million, or $0.64 diluted earnings per share, for the quarter ended December 31, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Lynn M. Hopkins was appointed as Executive Vice President and Chief Financial Officer at RBB Bancorp.

Action: appointed
Role: Executive Vice President and Chief Financial Officer

Exact text from the filing

appointed Ms. Lynn M. Hopkins, Interim Executive Vice President and Chief Financial Officer of the Company and the Bank, as the Company’s and the Bank’s permanent Executive Vice President and Chief Financial Officer.

View on SEC.gov

499 earnings releases filed in the last 30 days. Browse all earnings releases →

RBB Bancorp filing history →

Source: SEC EDGAR

accession 0001437749-24-012741

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