RBB Bancorp issued a dividend of $0.16 per share, and provided updates on the impact of the Wildfires on Royal Business Bank.

LOS ANGELES, January 16, 2025 (GLOBE NEWSWIRE) — RBB Bancorp Group (NASDAQ: NASDAQ: ) and its subsidiaries, Royal Business Bank (“Bank”) and RBB Asset Management Company (“RAM”), collectively referred to as the “Company”, announced that its Board of Directors announced the quarterly of the quarter. it was 0.16 US Dollar in total. The dividend is paid on January 12, 2025 to common shareholders from January 31, 2025.

Update on the Impact of Wildfires on the Company

In response to the Los Angeles County disaster, the Bank has partnered with nonprofit organizations serving low- to moderate-income communities and awarded $30,000 to provide essential resources to affected families. Additionally, the Company is reaching out to its team members and clients to conduct wellness assessments and provides resources for 24/7 confidential counseling and health support. The company has not seen any damage to its buildings or assets and its branches remain open during normal business hours. Also, as of the date of this release, we are not aware of any potential impact on our credit rating or collateral as a result of the Southern California wildfires. Six commercial properties totaling approximately $12.5 million and six residential properties totaling $3.4 million are close to or in the relocation zone, to our knowledge, and the agreements all such have insurance coverage. The situation is ongoing, and we will continue to monitor its status for potential exposure. The bank remains committed to supporting the community it serves, and is actively evaluating opportunities to make additional contributions to recovery and reconstruction.

Business Summary

RBB Bancorp is a public finance company headquartered in Los Angeles, California. As of September 30, 2024, the Company had total assets of $4.0 billion. Through its subsidiary, Royal Business Bank, is a full-service commercial bank, providing consumer and business banking services primarily to the Asian community in Los Angeles County, Orange County, and Ventura County in California, Las Vegas, Nevada. , Brooklyn, Queens, and Manhattan New York, Edison, New Jersey, Chicago’s Chinatown and Bridgeport, Illinois, and Oahu, Hawaii. Banking services include remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, commercial and industrial loans, SBA (LON:) 7A and 504 loans, 1-4 single family housing loans, financial transactions, a full range of savings account products and wealth management services. The bank has nine branches in Los Angeles County, two branches in Ventura County, one branch in Orange County, California, one branch in Las Vegas, Nevada, three branches and one loan processing center Brooklyn, three branches in Queens, one branch in Manhattan, New York, one branch in Edison, New Jersey, two branches in Chicago, Illinois, and one branch in Honolulu, Hawaii. The Company’s administrative and credit center is located at 1055 Wilshire Blvd., Los Angeles, California 90017, and its financial and operations center is located at 7025 Orangethorpe Ave., Buena Park, California 90621. The company is www.royalbusinessbankusa.com.

Names

Lynn Hopkins, EVP/Chief Financial Officer, (657) 255-3282

Safe Harbor

Other information contained herein (including the disclosures herein) includes forward-looking statements relating to the Company’s current business plans and our expectations and our future financial condition and results of operations. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, the effectiveness of the Company’s internal control over financial reporting and disclosure systems and processes—the possibility of additional weaknesses in the Company’s internal control with respect to financial reporting or other potential regulatory deficiencies that the Company may have. currently unknown or undiscovered; business and economic conditions generally and in the financial services industry, nationally and within our current and future markets, including a tight labor market, ineffective federal budget controls of US or debt or turmoil or uncertainty in foreign currency markets. the general U.S. economy and the strength of the local economies in which we operate; adverse developments in the banking industry highlighted by high-profile bank failures and the potential impact of such developments on consumer confidence, liquidity and regulatory responses to these developments; our ability to attract and retain deposits and access other sources of funding; Other potential provisions for credit losses and payments-¾ credit risks of lending activities and impairment of property or creditworthiness; laws and regulations and the broader regulation to which we are subject, including t potential regulatory action by banking regulatory authorities—increased compliance costs and other related risks. with regulatory changes, including any changes to the Dodd-Frank Wall Street Reform and Consumer Protection Act; the Bank Secrecy Act and other anti-money laundering rules and regulations; potential lack of interest; currency risk financials; changes in interest rates; risks associated with acquisitions and the expansion of our business into new markets. to have a view of our loan portfolio, including commercial real estate and regional and industrial risks; Environmental liabilities; our ability to compete with major competitors¾ our ability to retain employees-¾ effective management of reputational risk; severe weather, natural disasters, earthquakes, fires, etc. since the recent California wildfires; or other adverse external events could harm our business- environmental conditions, including operations. or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism and/or military conflicts, including conflicts between Russia and Ukraine, the Middle East and escalating conflicts between China and Taiwan, which may affect business and economic conditions in the United States and abroad, public health emergencies and epidemics, and their effects on the economic and business environment in which we operate , including credit ratings our and business operations, as well as the effect on general economic and financial market conditions; general economic or business conditions in Asia, and other regions. where the Bank experiences operational errors, disruptions, or security breaches of our information systems – climate change, including any updated laws, compliance, credit and security risks popularity and cost. the use of technology in banking; risk management methods and policies; adverse effects of law performance- the effect of the performance of the regulatory process, if there are certain provisions in our law and regulations that may affect the acquisition of The Company¾ changes in tax laws and regulations¾ the effect of government efforts to reorganize the US financial regulatory system¾ the effect of upcoming or recent changes to the Federal Deposit Insurance Corporation (FDIC) insurance review of laws and regulations relating to the FDIC’s audited financial statements and the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time to time by the banking regulatory agencies, the SEC, the Public Company Accounting Oversight Board, Financial Accounting Standards Board. or other accounting standard setters, including Accounting Standards Update 2016-13 (Topic 326, Measurement of Current Expected Credit Losses on Financial Instruments, commonly referred to as the Current Expected Credit Losses Model, which changed the way we estimate credit losses and may increase the required level of credit loss allowance in the future; market disruption and volatility in distribution other by laws and regulations and by our directors and our capital structure; the issuance of preferred stock; our ability to raise additional capital, if necessary, and the possible dilution of our stockholders’ interests common; our ongoing relationships with our various federal and state regulators, including the SEC, the FDIC, the FRB and the California Department of Financial Protection and Invention (DFPI); our ability to manage the risks involved in the foregoing and all other information set forth in the Company’s public records, including its Annual Report as filed under Form 10-K for the year ended December 31, 2023, particularly the discussion of risk factors. within that document. The Company does not assume, and specifically disclaims any obligation, to update any forward-looking statements to reflect events or unforeseen events or circumstances after the date of such statements unless even when required by law. Any statements regarding future operating results, such as those regarding increases and decreases in earnings of the Company or its shareholders, are for reference only, not predictions, and actual results are can be different.

Source: RBB Bancorp