RBB Bancorp Reports Second Quarter Earnings for 2019
RBB Bancorp (RBB)
Last rbb bancorp earnings: 4/20 04:11 pm
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US:NASDAQ Investor Relations:
royalbusinessbankusa.com/investor-relations.htm
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Source: PR Newswire
LOS ANGELES, July 22, 2019 /PRNewswire/ -- RBB Bancorp (NASDAQ:RBB) and its subsidiaries, Royal Business Bank ("the Bank") and RBB Asset Management Company ("RAM"), collectively referred to herein as "the Company", announced financial results for the quarter ended June 30, 2019. The Company reported net income of $10.1 million, or $0.50 diluted earnings per share, for the three months ended June 30, 2019, compared to net income of $10.4 million, or $0.51 diluted earnings per share, and $9.4 million, or 0.54 diluted earnings per share, for the three months ended March 31, 2019 and June 30, 2018, respectively. "We are pleased with our operating performance for the second quarter," said Mr. Alan Thian, Chairman, President and CEO. "We made significant progress on our balance sheet initiatives, selling $175.0 million in residential mortgage loans during the quarter and reducing our reliance on wholesale funding by $235.0 million. Our focus on increasing core deposits helped drive our depo
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