Business
RBB Bancorp Announces Redemption of Subordinated Notes
LOS ANGELES--(BUSINESS WIRE)-- RBB Bancorp (NASDAQ: RBB) today announced the completion of the redemption on March 31, 2021 of all of its outstanding 6.5%
About this update from Rbb Bancorp
[{"type":"text","content":" LOS ANGELES--(BUSINESS WIRE)--\nRBB Bancorp (NASDAQ: RBB) today announced the completion of the redemption on March 31, 2021 of all of its outstanding 6.5% Fixed-to-Floating Subordinated Notes due March 31, 2026 (CUSIP 74930 B AA 3) (the “Notes”). The redemption price for the Notes was equal to 100% of principal amount of the Notes redeemed, plus any accrued and unpaid interest to, but excluding, the redemption date of March 31, 2021.\n\nIn accordance with the terms of the Notes, the holders of the Notes received notice of the redemption, the redemption price and further instructions and details related to the process of such redemption. Payment of the redemption price for the Notes will be made through RBB Bancorp and the Depositary Trust Company.\n\nCorporate Overview\n\nRBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California. As of December 31, 2020, the company had total assets of $3.4 billion. Its wholly owned subsidiary, the Bank, is a full-service commercial bank, which provides business banking services to the Chinese-American communities in Los Angeles County, Orange County, and Ventura County in California; in Las Vegas, Nevada; in Brooklyn, Queens, and Manhattan in New York; Edison, New Jersey; and two branches in the Chicago neighborhoods of Chinatown and Bridgeport. Bank services include 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, automobile lending, trade finance, a full range of depository account products and wealth management services. The Bank has nine branches in Los Angeles County; two branches in Ventura County; one branch in Irvine, California; one branch in Las Vegas, Nevada; six branches and one loan operation center in Brooklyn, Queens and Manhattan in New York; one branch in Edison, New Jersey; and two branches in Chicago, Illinois. The Company's administrative and lending center is located at 1055 Wilshire Blvd., Los Angeles, California 90017, and its finance and operations center is located at 7025 Orangethorpe Avenue, Buena Park, California 90621. The Company's website address is www.royalbusinessbankusa.com.\n\nSafe Harbor\n\nThis press release contains statements that are considered forw...