LOS ANGELES, March 1, 2019 /PRNewswire/ -- RBB Bancorp (NASDAQ:RBB) and its subsidiaries, Royal Business Bank ("the Bank") and RBB Asset Management Company ("RAM"), collectively referred to herein as "the Company", today celebrated the grand opening of its new branch in Irvine, California. The ceremony took place earlier today and was attended by members of management, including Alan Thian, Chairman, President and Chief Executive Officer; David Morris, Executive Vice President and Chief Financial Officer; and Wilson Mach, Executive Vice President and Chief Branch Administrator. Members of RBB's Board of Directors and a number of Irvine community dignitaries, including Mayor Donald P. Wagner, also attended the event.
In addition, the Company announced the expansion of its presence in New York City, with the opening of a new branch in the Flushing neighborhood of Queens. This will be the ninth total and first Royal Business Bank-branded branch in the New York City market. This full-service branch, located at 135-34 Roosevelt Avenue, will provide residential and commercial loans, as well as retail and business banking services, including SBA lending.
"We would like to thank everyone for celebrating with us the grand opening of our branch in Irvine," said Mr. Thian. "This branch broadens RBB's exposure to the large Chinese-American community in Orange County. Similar to our existing markets, we will focus on our longstanding commitment to relationship banking, and we welcome all new customers and employees."
Mr. Thian continued, "We are also pleased with our continued expansion in the attractive New York City market with our first RBB-branded branch. This positions us well to pursue growth in residential and commercial lending and to diversify our revenue mix, with a focus on increased profitability and value creation for our shareholders."
With the opening of the Queens branch, the Company now has 23 branches across California, Nevada and New York.
RBB Bancorp is a community-based bank holding company headquartered in Los Angeles, California. Including FAIC, the Company has total assets of approximately $2.98 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, and now Brooklyn, Queens, and Manhattan in New York. 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 ten branches in Los Angeles County, two branches in Ventura County, one branch in Irvine, California, one branch in Las Vegas, Nevada, and nine branches and two loan offices in Brooklyn, Queens and Manhattan in New York. 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.
SOURCE RBB Bancorp