RBB Bancorp 8-K

What Happened
RBB Bancorp (filed Form 8‑K on June 15, 2026) announced two capital actions: the Board authorized a common stock repurchase plan to buy up to 1,000,000 shares through June 30, 2028 (roughly $25 million, about 6% of outstanding shares), and the company notified the paying agent on June 12, 2026 of its intention to redeem $40.0 million of its 4.00% Fixed‑to‑Floating Rate Subordinated Notes due 2031 on July 1, 2026.

Key Details

• Share repurchase: Up to 1,000,000 shares authorized through June 30, 2028, representing ~ $25M at current prices and ~6% of outstanding shares; purchases may be made in open market, private transactions, block trades, or under Rule 10b5‑1/10b‑18 plans.
• Redemption notice: On June 12, 2026 the company notified Wilmington Trust that it will redeem $40.0M principal of the Notes on July 1, 2026.
• Redemption terms: Notes will be redeemed at 100% of principal plus accrued and unpaid interest (excluding the Redemption Date), totaling approximately $40.7M in cash to be paid on the Redemption Date upon surrender of the Notes; interest on redeemed notes stops accruing after July 1, 2026.
• Post‑redemption: $80.0M principal of the Notes will remain outstanding; the interest rate (currently three‑month SOFR + 329 bps) will reset on July 1, 2026 for the remaining Notes.

Why It Matters

• The repurchase authorization gives the bank flexibility to return capital to shareholders and could reduce share count if executed, which can support earnings per share; the plan is discretionary and may be suspended, modified, or not used.
• The partial redemption is a definite cash obligation (about $40.7M) on July 1, 2026 and will reduce the company’s subordinated debt by $40M, stopping interest accrual on the redeemed portion. Together, these actions affect the company’s capital structure and liquidity profile—important facts for investors assessing capital allocation and balance sheet changes.