RBB Bancorp Q2 net income $7.2M ($0.39 EPS); NIM slips to 2.67%, NPAs rise to $54.6M

RBB Bancorp

2024-Q2 EPS reported $0.82 revenue$2,920,000

Net income $7.2M ($0.39 diluted EPS) down from $8.0M ($0.43) in Q1 2024; net interest income $24.0M vs $24.9M.
Net interest margin 2.67% (down 2 bps QoQ); cost of funds flat at 3.59%.
Nonperforming assets surged to $54.6M (1.41% assets) from $37.0M (0.95%), driven by three loans totaling $22M.
Repurchased 448,190 shares for $8.1M; book value per share rose to $28.12 from $27.67.
Declared $0.16 per share cash dividend, payable Aug 12 to holders of record July 31, unchanged from prior quarter.

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