RBB(US:RBB)2026-01-27 02:03Financial Performance - Net income for Q4 2025 was $10.2 million, or $0.59 diluted earnings per share, compared to $10.1 million, or $0.59 diluted earnings per share in Q3 2025 [4]. - For fiscal 2025, net income totaled $31.9 million, or $1.83 diluted earnings per share, a 19.8% increase compared to fiscal 2024 [6]. - Net income for the three months ended December 31, 2025, was $10,177 million, compared to $4,385 million for the same period in 2024, marking a substantial increase of 132.3% [50]. - Basic net income per share for the three months ended December 31, 2025, was $0.60, up from $0.25 in the same quarter of 2024, representing a growth of 140% [50]. Interest Income and Margin - Net interest income for Q4 2025 was $29.5 million, a slight increase from $29.3 million in Q3 2025, driven by a $430,000 decrease in interest expense [7]. - Total interest and dividend income for the three months ended December 31, 2025, was $57,193 million, an increase from $54,555 million for the same period in 2024, representing a growth of 4.0% [50]. - Net interest income before provision for credit losses for the twelve months ended December 31, 2025, was $112,282 million, compared to $99,364 million for the previous year, reflecting a year-over-year increase of 13.5% [50]. - The net interest margin for the three months ended December 31, 2025, was 2.99%, slightly up from 2.76% in the same quarter of 2024 [52]. - The net interest margin improved to 2.95% for the year ended December 31, 2025, compared to 2.70% for the previous year [59]. Asset Quality - Classified and criticized loans decreased by $31.8 million, or 25.2%, to $94.4 million at December 31, 2025, compared to the prior quarter [6]. - Nonperforming assets decreased by $852,000, or 1.6%, to $53.5 million at December 31, 2025, compared to the prior quarter [6]. - Nonperforming loans totaled $44.6 million at December 31, 2025, down from $45.5 million at September 30, 2025 [28]. - The allowance for loan losses improved to $43,888 from $44,892 in September 2025, indicating better asset quality [48]. - The allowance for loan losses stood at $43,888 thousand, which is 1.32% of total loans HFI [63]. Deposits and Loans - Total deposits were $3.4 billion as of December 31, 2025, a decrease of $16.1 million, or 1.9% annualized, compared to September 30, 2025 [25]. - Total loans held for investment grew by $11.7 million, or 1.4% annualized, in Q4 2025, and by $261.1 million, or 8.6%, for the full year [6]. - Total deposits reached $3,350,398 thousand as of December 31, 2025, a significant increase from $3,083,789 thousand as of December 31, 2024, reflecting a growth of 8.7% [68]. - The single-family residential mortgages segment accounted for 50.0% of total loans, with a total of $1,655,382 thousand as of December 31, 2025, compared to 48.9% and $1,494,022 thousand a year earlier [67]. Equity and Capital - Total shareholders' equity was $523.4 million at December 31, 2025, a $9.1 million increase compared to September 30, 2025 [37]. - Book value per share increased to $30.69 at December 31, 2025, up from $30.18 at September 30, 2025 [38]. - The tangible book value per share increased to $26.42 as of December 31, 2025, compared to $24.51 a year earlier, indicating a growth of 7.8% [70]. - The common equity to assets ratio improved to 12.44% as of December 31, 2025, compared to 12.72% a year earlier [70]. - The Tier 1 capital to risk-weighted assets ratio was 18.06% as of December 31, 2025, indicating strong capital adequacy [63]. Future Outlook - Management will hold a conference call on January 27, 2026, to discuss the Company's fourth quarter and fiscal year 2025 financial results [41]. - The Board of Directors declared a quarterly cash dividend of $0.16 per common share, payable on February 13, 2026 [39].