RBB Bancorp says US regulators terminated Oct 2023 consent order (updated)

RBB BANCORP

22/08/2024 23:27

(Adds details and context order throughout)
       Aug 22 (Reuters) - RBB Bancorp  RBB.O  said on Thursday
a consent order against the community bank issued by U.S.
regulators in October 2023 has been terminated. 
    It follows the successful resolution of the deficiencies in
its Anti-Money Laundering and Countering the Financing of
Terrorism program, RBB and its subsidiaries said. 
    The order was issued by the Federal Deposit Insurance
Corporation and the California Department of Financial
Protection and Innovation. 
    The Los Angeles, California-based lender had total assets of
$3.9 billion as of June 30.      
    Its shares have risen roughly 15% so far this year, giving
it a market capitalization of about $388.14 million, according
to LSEG data. 
    

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com; X: manya__saini;))