RBB Bancorp says no damage to properties from Southern California wildfires

RBB states, “In response to the catastrophic fires in Los Angeles County, the Bank has partnered with non-profit organizations serving low-to-moderate income communities and donated $30,000 to provide essential supplies to affected families. In addition, the company is actively reaching out to its team members and customers to perform welfare checks and is providing resources for 24/7 confidential counseling and wellness support. The company has not experienced any damage to its facilities or properties and its branches have remained open during normal business hours. Also, as of the date of this release, we are not aware of any material impact on our loan portfolio or collateral due to the Southern California wildfires. Six commercial properties with a total balance of approximately $12.5M and six residential properties with a total balance of $3.4M are near or in an evacuation area, to our knowledge, and all of such collateral has insurance coverage in place. The situation is still evolving, and we will continue to monitor its status for potential exposure. The Bank remains committed to supporting the communities it serves and is actively reviewing opportunities to make additional contributions towards recovery and the rebuilding.”