RBB Bancorp reports Q4 EPS 25c, consensus 36c

Reports book value and tangible book value per share of $28.66 and $24.51 at December 31, 2024, compared to $28.81 and $24.64 at September 30, 2024. The Q4 $4.0M increase in the allowance for credit losses was due to a $6.0M provision for credit losses offset by net charge-offs of $2.0M. “Declining funding costs and stable interest income drove net interest income and net interest margin higher in the Q4,” said Johnny Lee, President of the Company and President and CEO of the Bank. “We continue to make good progress on our growth initiatives and expect we will resume loan growth in the first quarter and for the remainder of the year. We did see an increase in nonperforming loans mainly due to one credit relationship that was downgraded late in the fourth quarter. We are actively working to resolve our nonperforming loans as quickly as possible while minimizing the impact to earnings and capital.”