Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-38149 RBB BANCORP (Exact name of registrant as specified in its charter) California 27-2776416 ...

Financial Data and Key Metrics Changes - Net income for the second quarter totaled $9.3 million or $0.52 per share, including a $2.9 million after-tax employee retention tax credit refund [3][7] - Net interest income increased by $1.2 million, supported by solid loan growth and stable earning asset yields, with net interest margin (NIM) rising to 2.92% [3][4] - Adjusted net income, excluding the ERC refund, would have been $6.5 million or $0.36 per diluted share [8] Business Line Data and Key Metrics Changes - Loan held for investment grew by $92 million or 12% on an annualized basis, with strong results from the mortgage origination business, which originated $120 million in the second quarter [3][4] - Total second quarter loan originations reached $183 million at a blended yield of 6.76% [4] - Noninterest expenses increased by $2 million to $20.5 million, with $1.2 million related to the ERC refund [9][10] Market Data and Key Metrics Changes - Total deposits increased at a 6% annualized rate to $3.2 billion, with growth in non-interest bearing deposits and CDs offsetting a decline in money market accounts [12] - The loan-to-deposit ratio exceeded 100%, indicating a need for careful management of loan growth and deposit acquisition [36][40] Company Strategy and Development Direction - The company is focused on resolving nonperforming loans while continuing to grow its loan portfolio, indicating a dual-path strategy [28][31] - Management is optimistic about maintaining loan growth despite credit quality challenges, with a healthy pipeline of loans [31][40] - The company is enhancing credit quality control, particularly in bridge and gap financing, to mitigate risks [22][56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of funding costs and potential increases in yields on earning assets, which could support margin improvements [5][9] - The company anticipates continued loan growth, albeit at a more moderate pace, and is actively managing its nonperforming assets [4][28] - Management acknowledged the competitive landscape for deposits and the need to balance loan growth with deposit acquisition strategies [40][42] Other Important Information - The tangible book value per share increased to $25.11, with all capital ratios remaining above regulatory well-capitalized levels [13] - The company expects noninterest expenses to normalize to an annualized run rate of about $18 million in future quarters [10][47] Q&A Session Summary Question: Discussion on capital and buyback program - Management views the stock as attractive at current trading prices and has sufficient liquidity to support both the buyback program and credit workouts [20][21] Question: Asset quality and loan downgrades - Management provided details on loans downgraded to substandard and special mention, emphasizing a conservative approach to credit quality control [22][25] Question: Sustainability of dual path strategy - Management believes it can continue to grow loans while addressing asset quality issues, with a healthy pipeline and ongoing focus on resolving nonperforming loans [28][31] Question: Loan and deposit growth outlook - Management is actively managing the loan-to-deposit ratio and expects to see organic deposit growth, with potential loan sales to alleviate pressure [40][42] Question: Deposit cost expectations - Management anticipates stabilization of deposit costs, with a focus on maintaining competitive rates to attract deposits [43][44] Question: Tax rate outlook - The tax rate for the quarter was around 28%, and management expects this to be a reasonable run rate going forward, with minor impacts from changes in California tax law [69][70]

Financial Data and Key Metrics Changes - Net income for the second quarter totaled $9.3 million or $0.52 per share, including a $2.9 million after-tax employee retention tax credit refund [3][7] - Net interest income increased by $1.2 million, supported by solid loan growth and stable earning asset yields, with net interest margin (NIM) rising to 2.92% [3][4] - Adjusted for the employee retention credit refund, net income would have been $6.5 million or $0.36 per diluted share [8] Business Line Data and Key Metrics Changes - Loan held for investment grew by $92 million or 12% on an annualized basis, with strong results from the in-house mortgage origination business, which originated $120 million in mortgages [3][4] - Total second quarter loan originations reached $183 million at a blended yield of 6.76% [4] - Noninterest expenses increased by $2 million to $20.5 million, with $1.2 million related to the employee retention credit refund [9][10] Market Data and Key Metrics Changes - Total deposits increased at a 6% annualized rate to $3.2 billion, with growth in non-interest bearing deposits and CDs offsetting a decline in money market accounts [12] - The loan-to-deposit ratio exceeded 100%, indicating a need for careful management of loan growth relative to deposit growth [34][40] Company Strategy and Development Direction - The company is focused on resolving nonperforming loans while continuing to grow its loan portfolio, indicating a dual-path strategy [26][29] - Management expressed confidence in maintaining loan growth while addressing asset quality issues, with a healthy pipeline for future loan originations [29][30] Management's Comments on Operating Environment and Future Outlook - Management noted that absent rate cuts, funding costs are stabilizing, and there may be increases in yields on earning assets, supporting incremental margin increases [5][9] - The company expects to continue seeing loan growth, albeit at a more moderate pace than in the first half of the year [4][30] Other Important Information - The tangible book value per share increased to $25.11, with all capital ratios remaining above regulatory well-capitalized levels [13] - The company is actively managing its credit quality control processes, tightening oversight on certain loan categories [20][51] Q&A Session Summary Question: Discussion on capital and buyback program - Management views the stock as attractive at current trading prices and has sufficient liquidity to support the buyback program while managing nonperforming loans [18][19] Question: Asset quality and loan downgrades - The increase in special mention loans is due to enhanced credit quality control, with a focus on bridge and gate loans experiencing delays in stabilizing income [21][22] Question: Sustainability of dual path strategy - Management believes it can continue to grow loans while resolving nonperforming loans, maintaining a healthy pipeline for future growth [26][29] Question: Loan and deposit growth outlook - Management is focused on quality in loan origination and is implementing promotional programs to attract new deposits [38][60] Question: Deposit cost expectations - Management anticipates some stabilization in deposit costs, with a potential lag in response to Fed rate cuts [41][42] Question: Tax rate outlook - The tax rate for the quarter was around 28%, which is expected to be a reasonable run rate going forward, with minor benefits from changes in California tax law [63][64]

Financial Performance - Net income for Q2 2025 was $93 million[8] - Diluted earnings per share (EPS) reached $052[8] - Net interest margin (NIM) expanded to 292%[8] - Return on average tangible common equity was 850%[8] Balance Sheet & Loan Portfolio - Gross loans held for investment (HFI) increased to $323 billion[8] - Total deposits amounted to $319 billion[8] - Annualized loan growth was 12%[9, 13] - Loans HFI increased by $916 million[13] Asset Quality - Nonperforming loans (NPLs) decreased by $36 million or 6%[9] - NPLs/Total Loans ratio was 176%[8] - Nonperforming assets (NPAs) decreased to $610 million[8] Capital & Efficiency - Common Equity Tier 1 (CET1) Ratio was 1761%[8] - Tangible common equity (TCE) ratio was 1107%[8] - Efficiency ratio improved to 5722%[8] Deposits - Deposits increased by $456 million or 6% annualized[13] - Uninsured deposits totaled $15 billion, representing 478% of total deposits[50]

Exhibit 99.1 RBB Bancorp Reports Second Quarter 2025 Earnings and Declares Quarterly Cash Dividend of $0.16 Per Common Share Los Angeles, CA, July 21, 2025 – RBB Bancorp (NASDAQ:RBB) and its subsidiaries, Royal Business Bank (the "Bank") and RBB Asset Management Company ("RAM"), collectively referred to herein as the "Company," announced financial results for the quarter ended June 30, 2025. Second Quarter 2025 Highlights The Company reported net income of $9.3 million, or $0.52 diluted earnings per share, ...

Financial Performance - The company reported net income of $9.3 million, or $0.52 diluted earnings per share, for the quarter ended June 30, 2025, a significant increase from $2.3 million, or $0.13 diluted earnings per share, for the quarter ended March 31, 2025 [3][9] - Net interest income was $27.3 million for the second quarter of 2025, up from $26.2 million in the first quarter, driven by a $1.9 million increase in interest income [5][9] - Noninterest income for the second quarter of 2025 was $8.5 million, an increase of $6.2 million from $2.3 million in the first quarter, largely due to a $5.2 million Employee Retention Credit [11][12] Loan and Asset Growth - Loans held for investment totaled $3.2 billion as of June 30, 2025, reflecting a growth of $91.6 million, or 12% annualized, compared to March 31, 2025 [16][9] - Nonperforming assets decreased by $3.6 million, or 5.5%, to $61.0 million at June 30, 2025, down from $64.6 million at March 31, 2025 [20][9] - Total deposits increased to $3.2 billion as of June 30, 2025, a rise of $45.6 million, or 5.8% annualized, compared to March 31, 2025 [18][9] Credit Quality and Provisions - The provision for credit losses was $2.4 million for the second quarter of 2025, down from $6.7 million in the first quarter, reflecting an increase in general reserves due to net loan growth [8][9] - Nonperforming loans represented 1.49% of total assets at June 30, 2025, a decrease from 1.61% at March 31, 2025 [20][9] - The allowance for loan losses as a percentage of loans held for investment decreased to 1.58% at June 30, 2025, compared to 1.65% at March 31, 2025 [24][9] Shareholder Equity and Dividends - Total shareholders' equity was $517.7 million at June 30, 2025, an increase of $7.3 million compared to March 31, 2025 [26][9] - The company declared a quarterly cash dividend of $0.16 per common share, payable on August 12, 2025 [28]

Core Points - RBB Bancorp will release its financial results for the second quarter ended June 30, 2025, after market close on July 21, 2025 [1] - A conference call to discuss the financial results will be held on July 22, 2025, at 11:00 a.m. Pacific Time [2] - The company had total assets of $4.0 billion as of March 31, 2025 [4] Company Overview - RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California [4] - The company's subsidiary, Royal Business Bank, provides a range of banking services primarily to Asian-centric communities across various locations in California, Nevada, New York, New Jersey, Illinois, and Hawaii [4] - The bank operates multiple branches, including nine in Los Angeles County, two in Ventura County, and others in various states [4]

Core Viewpoint - RBB Bancorp has authorized a stock repurchase plan for up to $18 million of its outstanding common stock, effective through June 30, 2026, indicating a commitment to returning value to shareholders [1][2]. Company Overview - RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California, with total assets of $4.0 billion as of March 31, 2025 [3]. - The company's subsidiary, Royal Business Bank, operates 24 full-service branches across six states, primarily serving Asian-centric communities [3]. - The bank offers a variety of services including consumer and business banking, commercial loans, and wealth management [3]. Stock Repurchase Plan Details - The repurchase plan allows for shares to be bought in open market or private transactions, and can be suspended or modified based on various factors such as market conditions and liquidity [2]. - The plan does not obligate the company to repurchase a specific number of shares, providing flexibility in execution [2].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-38149 RBB BANCORP (Exact name of registrant as specified in its charter) California 27-2776416 ...

Financial Data and Key Metrics Changes - First quarter net income declined to $2.3 million or $0.13 per share, primarily due to strategic actions taken to address non-performing assets [3] - Non-performing assets were reduced by 20% and net exposure to non-performing loans decreased by 32% to $51 million [3] - Net interest income before provisions increased for the third consecutive quarter to $26.2 million [8] - Net interest margin increased by 12 basis points to 2.88% due to a decline in the cost of interest-bearing deposits [6][10] Business Line Data and Key Metrics Changes - Loans held for investment grew by $90 million or 12% on an annualized basis, driven by growth in commercial, SBA, and SFR balances [5] - Total first quarter loan originations amounted to $201 million at a blended yield of 6.77% [6] - Non-interest income declined by $4.34 million to $2.3 million due to lower gains on the sale of loans [10] Market Data and Key Metrics Changes - Total deposits increased at an 8% annualized rate to $3.14 billion, with growth in money market accounts and CDs offsetting a decline in non-interest bearing accounts [13] - The loan portfolio yield remained stable at 6.03% [12] Company Strategy and Development Direction - The company is focusing on resolving non-performing loans quickly while minimizing the impact on earnings and capital [3] - There is an ongoing effort to reduce reliance on wholesale funding, with a successful CD campaign in the first quarter [46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in resolving remaining non-performing assets and expects to report additional progress in upcoming quarters [4] - The company anticipates continued loan growth, albeit at a more moderate pace than the first quarter [6] - Management believes that by the second half of 2025, there could be a target for reducing non-performing loans to a normal baseline [54] Other Important Information - The company’s tangible book value per share increased to $24.63 [13] - Capital ratios remain strong, with all capital ratios above regulatory well-capitalized levels [14] Q&A Session Summary Question: Thoughts on potential share repurchase - Management recognizes that a buyback is one of the best uses of excess capital and is working to put a buyback in place [19] Question: Dynamics within the margin and FHLB advances - The FHLB advances are fully priced into the March net interest margin, and the net interest margin is slightly below the quarter's average [21] Question: Margin drag from non-accrual loans - There is a drag on net interest margin from non-accrual loans, with $20 million potentially returning to accrual status [24] Question: Appetite for more problem loan sales - Management is open to sales but believes they are well reserved for future write-offs [29] Question: Exposure to tariff impacts - Management has reached out to top customers and does not observe any potential financial impact from tariffs at this time [34] Question: Loan growth expectations and deposit trends - Management expects to fund loan growth organically and noted some migration into higher-yielding products [46] Question: Non-interest expenses outlook - Management estimates operating expenses to be around $17.5 million to $18 million, with some moderation expected [66]