RBB Bancorp reported a record net income of $16.7 million, or $0.87 diluted earnings per share, for the three months ended September 30, 2022. Loans grew by $176.2 million, or 22.9% annualized, from the end of the prior quarter. Net interest income increased to a record $39.0 million.
Record net income of $16.7 million, or $0.87 diluted earnings per share, increased $1.2 million, or 7.6%, from the prior quarter and increased $1.3 million, or 8.4%, from the third quarter of 2021
Loans grew by $176.2 million, or 22.9% annualized, from the end of the prior quarter
Net interest income increased to a record $39.0 million as loans grew and margins improved
Expenses declined as expected due to the near conclusion of the Board of Directors investigation
The company anticipates continued pressure on deposit costs over the next few quarters.
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