RBB Bancorp (NASDAQ:RBB) Q4 2019 Earnings Conference Call - Final Transcript

Jan 28, 2020 • 01:00 pm ET


RBB Bancorp (NASDAQ:RBB) Q4 2019 Earnings Conference Call - Final Transcript


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Good morning and welcome to the RBB Bancorp Fourth Quarter and Year end 2019 Earnings Conference Call. My name is Sydney and I will be your operator today. At this time, all participants are in a listen-only mode. This call is being recorded and will be available for replay through February 4, 2020, starting this afternoon approximately one hour after the completion of this call.

I would now like to turn the call over to Mr. Larry Clark, Investor Relations for the company. Please go ahead Mr. Clark?

Larry Clark

Thank you Sydney. Good morning everyone and thank you for joining us to discuss RBB Bancorp's financial results for the fourth quarter and year ended December 31, 2019.

With me today from management are Chairman and President, CEO, Alan Thian; Executive Vice President, Chief Financial Officer, David Morris; EVP and Chief Credit Officer, Jeffrey Yeh; EVP and Chief Risk Officer, Vincent Liu; and EVP and Director of Mortgage Lending, Larsen Lee. Management will provide a brief summary of the results and then we'll open up the call to your questions.

During the course of this conference call, statements made by management may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 such forward-looking statements are based upon specific assumptions that may or may not prove correct. Forward-looking statements are also subject to known and unknown risks and uncertainties and other factors relating to RBB Bancorp's operations and business environment, all of which are difficult to predict and many of which are beyond the control of the company. For a detailed discussion of these risks and uncertainties, please refer to the required documents the company has filed with the SEC. If any of these uncertainties materialize or any of these assumptions prove incorrect, RBB Bancorp's results could differ materially from its expectations as set forth in these statements. The company assumes no obligation to update such forward-looking statements unless required by law.

At this time, I'd like to turn the call over to Alan Thian. Alan?

Yee Phong (Alan) Thian

Thank you, Larry. Good morning everyone and thank you for joining us today. I will start by discussing our full year accomplishments at a high level and then David will provide more details on our first quarter financial results.

We are very pleased with our financial performance for the year as we generated highest level of net income in the history of the company. Our positive results was driven by strong revenue growth due to both record net interest and non-interest income, well managed expenses and disciplined balance sheet management. We also continue to execute well on our strategic goals by growing our franchise organically within our SEC markets and by entering the attractive Chicago market through the acquisition of Pacific Global Bank, which we closed earlier this month. We want to welcome Pacific Global Bank's customer and employees to RBB Bancorp. Pacific Global is an excellent cultural fit with RBB as we have similar business models, strong residential mortgage loan production