RBB Bancorp reports lower quarterly profit and margin compression
RBB Bancorp Q2 net income fell 10.62% to $10.1 million, or $0.59 per diluted share, from the prior quarter.
Net interest margin narrowed 9 basis points to 3.06% from the prior quarter; net interest income slipped 1.37% to $30.1 million.
Nonperforming assets dropped 10.8% to $43.6 million versus the prior quarter; nonperforming loans fell to $23.8 million from $44.6 million.
The board declared a quarterly cash dividend of $0.16 a share, payable Aug. 11 to holders of record July 31.
The company launched a new repurchase plan for up to 1 million shares through June 30, 2028 and completed a $40 million subordinated notes redemption on July 1.
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