RBB Bancorp Q3 2024 net income $7.0M ($0.39 EPS); NIM expands to 2.68%; declares $0.16 dividend

RBB Bancorp

2024-Q3 EPS reported $1.22 revenue$4,190,000

Net income $7.0M (diluted EPS $0.39) vs $7.2M in Q2; net interest margin improved to 2.68%.
Provision for credit losses surged to $3.3M from $0.557M in prior quarter due to higher NPAs and specific reserves.
Nonperforming assets rose to $60.7M (1.52% of assets) vs $54.6M (1.41%) at June 30, 2024.
Board declared $0.16/share dividend payable Nov 12, 2024 to holders of record Oct 31, 2024.
Completed 508,275-share repurchase for $11.0M; book value per share increased to $28.81.

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