Royal Business Bank

RBB Bancorp
Company typePublic
Nasdaq: RBB
Russell 2000 Component
IndustryBanking
Founded2008; 16 years ago (2008)
FounderLouis C. Chang
HeadquartersLos Angeles, California
Key people
Revenue$87.3 million (2017)[1]
Total assets$3.7 billion (March 31, 2021)
Websiteroyalbusinessbankusa.com

Royal Business Bank (Chinese: 皇佳商業銀行) is a Chinese American bank based in Los Angeles, California. It is one of the biggest Chinese American banks in the country, and has branches in California, Nevada, and New York. It is a wholly-owned subsidiary of RBB Bancorp.

History

The Bank was founded by Louis Chang[2] in November 2008 in Los Angeles, California. It started out with one location but since 2011, and has since has opened three new locations in San Gabriel, Torrance, and Rowland Heights. RBB has acquired First Asian Bank (Las Vegas) in 2011,[3] Ventura County Business Bank, Oxnard, Los Angeles National Bank, Buena Park, and TomatoBank (Alhambra) for $83.2 million in 2015,[4] spreading its coverage all over California and Las Vegas.[5] In July 2017, RBB entered the Nasdaq and raised $86 million.[6]

In September 2019, RBB acquired Pacific Global Bank in Chicago for $32.5 million.[7] In May 2021, RBB raised $120 million to pursue its acquisitions spree[8] and James Kao was elected new chairman of the board.[9]

Overview

The company offers various financial services but primarily offers its products and services to individuals, small and middle-market businesses, municipalities, and other entities in the Chinese-American community. They have also branched out to include new customers that are not part of the Chinese-American community.[10]

References

  1. ^ "RBB Income Statement - RBB Bancorp Stock - Yahoo Finance". finance.yahoo.com.
  2. ^ "Directors -". www.royalbusinessbankusa.com.
  3. ^ Green, Steve (2011-02-24). "L.A.-based bank acquires First Asian Bank in Las Vegas - Las Vegas Sun Newspaper". lasvegassun.com. Retrieved 2021-06-04.
  4. ^ "In Merger, Interesting Name of TomatoBank to Disappear | Los Angeles Business Journal". labusinessjournal.com. 11 November 2015. Retrieved 2021-06-04.
  5. ^ "About Us -". www.royalbusinessbankusa.com.
  6. ^ "RBB Bancorp Raises $86 Million in IPO | Los Angeles Business Journal". labusinessjournal.com. 26 July 2017. Retrieved 2021-06-04.
  7. ^ "Pacific Global sale brings L.A.-based Chinese-American bank to Chicago". Crain's Chicago Business. 2019-09-06. Retrieved 2021-06-04.
  8. ^ "RBB Bancorp Raises $120 Million for Acquisitions | Los Angeles Business Journal". labusinessjournal.com. 2 May 2021. Retrieved 2021-06-04.
  9. ^ "RBB Bancorp Names New Chairman of the Board". www.businesswire.com. 2021-05-25. Retrieved 2021-06-04.
  10. ^ "RBB Profile - RBB Bancorp Stock - Yahoo Finance". finance.yahoo.com.