First quarter net income included $6.7M in pre-tax provision for credit losses mostly related to reducing exposure to nonperforming loans, including higher specific reserves. Reports Q1 tangible book value per share $28.77. Reports Q1 CET1 capital ratio 0.35%. “First quarter net income declined to $2.3 million, or 13 cents per share, as we took decisive action to address our nonperforming loans,” said David Morris, CEO of RBB Bancorp (RBB).
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