RBB Bancorp Q3 profit rises sequentially on higher net interest income, Brooklyn building sale gain
RBB Bancorp Q3 profit rises sequentially on higher net interest income, Brooklyn building sale gain
Overview
U.S. community bank's Q3 net income and EPS rose from prior quarter
Net interest income and margin increased sequentially
Company recorded $2.7 mln gain from sale of Brooklyn office building
Outlook
Company expects to maintain positive loan growth trends through year-end 2026
RBB Bancorp estimates its 2026 effective tax rate at 26.9%
Company sees higher 2026 tax rate due to a higher multi-state blended rate and lower Federal tax credits
Result Drivers
NET INTEREST INCOME - Co attributed higher net interest income to increased loan interest income, nonaccrual interest recoveries, and a special dividend from FHLB
FUNDING BASE - Co said strong retail deposit growth allowed reduced reliance on wholesale deposits
CREDIT QUALITY - Co said nonperforming assets declined 11% from prior quarter, reflecting improved credit quality
Company press release: ID:nGNXbbn03p
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 EPS |
| $0.74 |
|
Q3 Net Income |
| $12.60 mln |
|
Q3 Net Interest Income |
| $31.80 mln |
|
Q3 Net Interest Margin |
| 3.16% |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy."
Wall Street's median 12-month price target for RBB Bancorp is $28.50, about 10.7% above its October 16 closing price of $25.75
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago
Reuters Recommended Reads
Oct 19 - Peoples Bancorp of North Carolina Q3 net earnings rise on loan growth
Oct 19 - Fifth Third Bancorp Q3 net interest income jumps on Comerica acquisition
Oct 19 - Austria's BAWAG Group Q3 net profit rises, reconfirms 2026 forecast
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
Recent news on RBB BANCORP
See all newsRBB Bancorp reports results for the quarter ended September 30 - Earnings Summary
RBB Bancorp Q3 profit rises sequentially on higher net interest income, Brooklyn building sale gain
Brief: RBB Bancorp Q3 EPS USD 0.74
RBB Bancorp expected to post earnings of 57 cents a share - Earnings Preview
RBB Bancorp reports results for the quarter ended June 30 - Earnings Summary