RBB Bancorp reported unaudited consolidated earnings results for the fourth quarter and year Ended December 31, 2017. For the quarter, the company's total interest income was $21,479,000 against $16,716,000 a year ago. Net interest income was $17,892,000 against $13,490,000 a year ago. Income before income taxes was $12,370,000 against $9,266,000 a year ago. Net income was $4,889,000 or $0.29 per diluted share against $5,386,000 or $0.39 per diluted share a year ago. Return on average assets, annualized was 1.18% against 2.38% a year ago. Return on average shareholder's equity, annualized was 7.31% against 18.90% a year ago. Return on average tangible common equity, annualized was 8.30% against 22.84% a year ago. Adjusted earnings pre-tax was $10,610,000 against $9,466,000 a year ago. Adjusted earnings non-GAAP was $6,244,000 or $0.37 per diluted share against $5,502,000 or $0.40 per diluted share a year ago. Adjusted return on average assets was 1.51% against 1.53% a year ago. Adjusted return on average tangible common equity was 10.60% against 14.72% a year ago. Tangible book value per share as at December 31, 2017 was $14.70 against $11.68 a year ago. Book value per share as at December 31, 2017 was $16.67 against $14.16 a year ago.

For the year, the company's total interest income was $74,104,000 against $68,189,000 a year ago. Net interest income was $60,166,000 against $56,482,000 a year ago. Income before income taxes was $46,797,000 against $32,568,000 a year ago. Net income was $25,528,000 or $1.68 per diluted share against $19,079,000 or $1.39 per diluted share a year ago. Return on average assets, annualized was 1.66% against 1.41% a year ago. Return on average shareholder's equity, annualized was 11.67% against 11.08% a year ago. Return on average tangible common equity, annualized was 13.52% against 13.14% a year ago.

Net charge-offs were 0.01% of average loans during the fourth quarter of 2017, consisting of $83,000 in gross charge-offs.

The company provided tax rate guidance for the year 2018. For 2018, the company anticipates an effective tax rate of between 29% and 31%.