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Jun 30, 2020
Rbb Bancorp Q2 2020 Earnings Report
Reported earnings for the second quarter of 2020
Key Takeaways
RBB Bancorp reported a net income of $6.5 million, or $0.33 diluted earnings per share, for the quarter ended June 30, 2020. Loan growth was strong, increasing by $108.7 million, excluding PPP and held-for-sale loans.
Net income was $6.5 million, or $0.33 diluted earnings per share.
Loans held for investment increased by $108.7 million, or 18.2% annualized growth, from the end of the prior quarter, excluding SBA Paycheck Protection program (“PPP”) loans of $32.8 million and held-for-sale loans of $53.1 million that were transferred to held-for-investment loans.
Total deposits (excluding brokered deposits) increased by $31.3 million, or 5.2% annualized growth, from the end of the prior quarter.
Nonperforming assets to total assets was 0.56%, improving 10 basis points from the prior quarter.
Forward Guidance
The Company expects gain on sale of loan income to return to prior levels in the fourth quarter.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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