Q1 2026 RBB Bancorp Earnings Call Transcript
Key Points
- RBB Bancorp (RBB) reported a net income of $11.3 million or $0.66 per share, marking an 11% increase from the previous quarter and the highest quarterly earnings in two years.
- The net interest margin increased by 16 basis points to 3.15%, marking the fifth consecutive quarter of margin expansion.
- Nonperforming assets declined by 9% from the prior quarter and are down 24% from a year ago, indicating improved credit quality.
- Retail deposits increased by $50 million, with a shift from time deposits to a high-yield savings product, enhancing the deposit mix.
- The company continues to focus on disciplined growth, maintaining strong credit quality, and increasing long-term shareholder value.
- Loan growth was modest, with loans increasing by only $11 million or 1% annualized, due to elevated payoffs and pay-downs.
- Deposits declined slightly during the quarter due to a reduction in wholesale deposits.
- Noninterest expense increased by $293,000 to $19.3 million, primarily due to higher payroll taxes and employee benefit costs.
- The company remains elevated on nonperforming loans, with 90% represented by the same three relationships.
- The net interest margin benefit from the FHLB special dividend is considered one-time in nature and not recurring.
Good day, everyone. Welcome to the RBB Bancorp Q1 2026 earnings call. (Operator Instructions) It is now my pleasure to turn the floor over to your host, Rebeca Rico. The floor is yours.
Thank you, Kelly. Good day, everyone, and thank you for joining us to discuss RBB Bancorp's results for the first quarter of 2026.
With me today are President and CEO, Johnny Lee; Chief Financial Officer, Lynn Hopkins; Chief Credit Officer, Jeffrey Yeh; and Chief Operations Officer, Gary Fan. Johnny and Lynn will briefly summarize the results, which can be found in the earnings press release and investor presentation that are available on our Investor Relations website, and then we'll open up the call to your questions.
I would ask that everyone please refer to the disclaimer regarding forward-looking statements in the investor presentation and the company's SEC filings.
Now I'd like to turn the call over to RBB Bancorp's President and Chief Executive Officer, Johnny Lee. Johnny?
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