RBB Bancorp Announces Initial Public Offering Of Common Stock

LOS ANGELES, July 18, 2017 /PRNewswire/ -- RBB Bancorp ("RBB") today announced the launch of its initial public offering of common stock. RBB is offering 2,107,756 shares and selling stockholders are offering up to 892,244 shares of RBB's common stock. The initial public offering price is currently estimated to be between $22.00 and $24.00 per share. The common stock is expected to trade on the Nasdaq Global Select Market under the symbol "RBB."

The underwriters will have a 30-day option to purchase up to an additional 450,000 shares of common stock from RBB. RBB intends to contribute $25 million of the net proceeds that it receives from the offering to its wholly-owned banking subsidiary, Royal Business Bank, and to use the remainder for general corporate purposes, which could include future acquisitions and other growth initiatives. RBB will not receive any proceeds from the sales of shares of common stock by the selling stockholders. 

Sandler O'Neill + Partners, L.P., Keefe, Bruyette & Woods, a Stifel Company, and Stephens Inc. are acting as book-running managers. FIG Partners, LLC is acting as co-manager.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the proposed offering may be obtained by contacting Sandler O'Neill + Partners, L.P. at toll-free 1-866-805-4128 or by emailing [email protected], or Keefe, Bruyette & Woods, Inc. at toll-free 1-800-966-1559 or by emailing [email protected], or Stephens Inc. at toll-free 1-800-643-9691 or by emailing [email protected] or FIG Partners, LLC at toll-free 1-866-344-2657 or by emailing ggersack@figpartners.

A Registration Statement on Form S-1 (File No: 333-219018) relating to the common stock has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. The common stock may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This press release shall not constitute an offer to sell nor the solicitation of an offer to buy, nor shall there be any sale of the common stock in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.  The common stock to be offered in the initial public offering will not be insured by the Federal Deposit Insurance Corporation or any other governmental agency.

About RBB Bancorp

RBB Bancorp is a $1.5 billion in assets bank holding company headquartered in Los Angeles, California. Its wholly-owned subsidiary, Royal Business Bank (the "Bank"), is a full service commercial bank which provides business banking services to the Chinese-American communities in Los Angeles County, Orange County, Ventura County and in Las Vegas, including remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, 1-4 single family residential loans, trade finance and a full range of depository accounts.  The Bank has ten branches in Los Angeles County, located in downtown Los Angeles, San Gabriel, Torrance, Rowland Heights, Monterey Park, Silverlake, Arcadia, Cerritos, Diamond Bar, and west Los Angeles, two branches in Ventura County, located in Oxnard and Westlake Village, and one branch in Las Vegas, Nevada.  RBB's administrative and lending center is located at 123 E. Valley Blvd., San Gabriel, California 91176, and its finance and operations center is located at 7025 Orangethorpe Avenue, Buena Park California 90621. RBB's website address is www.royalbusinessbankusa.com.

Cautionary Note Regarding Forward-Looking Statements

This press release includes "forward-looking statements," including with respect to the initial public offering. Forward-looking statements are subject to many risks and uncertainties, including, but not limited to: changes in business plans as circumstances warrant; changes in general economic, business and political conditions, including changes in the financial markets; and other risks detailed in the "Cautionary Note Regarding Forward-Looking Statements," "Risk Factors" and other sections of the Registration Statement. Potential investors should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements.  Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "might," "should," "could," "predict," "potential," "believe," "expect," "attribute," "continue," "will," "anticipate," "seek," "estimate," "intend," "plan," "projection," "goal," "target," "outlook," "aim," "would," "annualized" and "outlook," or similar terminology. Any forward-looking statements presented herein are made only as of the date of this press release, and RBB does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as may be required by law.

SOURCE RBB Bancorp

Related Links

http://www.royalbusinessbankusa.com