RBB Bancorp.
RBB.US | Other monetary intermediation
RBB Bancorp is a community-based financial holding company. Through its subsidiary, Royal Business Bank, the company provides a range of banking services to the Asian-American communities in Los Angeles County, Orange County, and Las Vegas, Nevada. These services include commercial loans, real estat...Show More
Better Health for All
0
RBB Bancorp is a financial institution, and its core products and services (loans, deposit accounts) have no direct positive or negative health impact, making several health-related KPIs not applicable. The company provides home loan products to Low-to-Moderate-Income families and capital to small businesses through Small Business Micro Loans.
1
It also offers a scholarship program for high school seniors with household incomes at or below the County Low Income Level.
2
However, these initiatives are financial or educational in nature and are not explicitly tied to health outcomes, health access, or addressing health disparities as defined by the 'Better Health for All' value. There is no evidence of RBB.US engaging in activities related to medical treatments, preventative healthcare, mental/physical wellness programs, or other direct health-focused initiatives.
Fair Money & Economic Opportunity
-20
RBB Bancorp operates as a minority depository institution (MDI) and was certified as a Community Development Financial Institution (CDFI) in 2016.
1
The company's commercial and industrial loans constituted 14.2% of its total loan portfolio as of December 31, 2018.
2
In 2023, the company funded $89 million in Community Development Lending and invested $34 million in affordable housing and small business initiatives.
3
RBB Bancorp received a 'Satisfactory' Community Reinvestment Act (CRA) rating from the FDIC for the period March 7, 2022, to January 27, 2025.
4
However, the company's single-family residential (SFR) lending to Asian Americans involves higher fees and interest rates in return for reduced documentation requirements.
5
The company operates 24 branches across six states, including California, Nevada, New York, New Jersey, Illinois, and Hawaii.
6
In 2023, it financed $98 million in mortgages in low-to-moderate income areas.
7
Fair Pay & Worker Respect
20
In fiscal year 2024, RBB.US reported a CEO pay ratio of 21:1, with the CEO's total compensation at $1,387,103 and the median employee pay at $65,962.
1
The company has a whistleblower policy, last approved on February 6, 2025, which encourages employees to report fraud, abuse, misconduct, and policy violations.
2
This policy includes a whistleblower hotline and protects employees from retaliation for reporting issues or refusing to participate in unlawful activities.
3
Fair Trade & Ethical Sourcing
0
RBB.US is a financial institution, and the provided articles do not contain information relevant to the ethical value of Fair Trade & Ethical Sourcing.
1
The company does not procure or trade physical commodities, nor does it have a traditional supply chain that would require fair-trade certifications, sourcing audits, or traceability of materials. Consequently, there is no evidence of forced or child labour incidents, remediation processes for such issues, or spend on high-risk materials.
2
While a financial institution may have general procurement, the articles do not provide any data on ethical clauses in supplier contracts or supplier diversity spend for RBB.US.
3
Honest & Fair Business
-40
RBB Bancorp has a formal Whistleblower Policy, updated February 6, 2025, which allows for anonymous reporting via a hotline, website, and email.
1
It prohibits retaliation against individuals making good faith reports and outlines investigation procedures, including the potential for an independent investigator.
2
The company restated its third-quarter 2023 earnings, correcting noninterest income from $7.7 million to $2.8 million and net income from $12.0 million to $8.5 million.
3
This restatement was due to an adjustment identified by an independent registered public accounting firm, which also identified a material weakness in internal control over financial reporting related to infrequent transactions.
4
The Audit Committee is comprised of at least three members who are not management and do not have personal or business relationships with management.
5
The company entered into a consent order with the FDIC and the California Department of Financial Protection and Innovation in October 2023, addressing an apparent violation related to the failure to file suspicious activity reports (SARs) and deficiencies in its Anti-Money Laundering/Countering the Financing of Terrorism (BSA/CFT) compliance program.
6
This order was terminated in August 2024 after the bank resolved the deficiencies.
7
The Audit Committee reviews third-party audit scopes and fees, and obtains annual reports from the independent auditor regarding internal quality-control procedures and auditor independence.
8
Kind to Animals
0
No evidence available to assess RBB Bancorp on Kind to Animals.
No War, No Weapons
0
The provided articles do not contain any specific, concrete data points or actions related to RBB.US's involvement with arms manufacturing, military contracts, conflict facilitation, or peace initiatives. The articles discuss general trends in defense financing among banks and RBB Bancorp's overall ESG risk rating, but offer no direct evidence for any of the 'No War, No Weapons' KPIs for RBB.US.
1
Planet-Friendly Business
0
RBB Bancorp's total Scope 1, 2, and 3 greenhouse gas emissions for 2021 were 20,225,717 kg CO2e (0.0202 M tCO₂e).
1
This represents a 12.63% annual decline from 23,150,576 kg CO2e in 2020.
2
In 2019, total emissions were 25,086,988 kg CO2e.
3
No other planet-friendly business metrics are publicly disclosed.
Respect for Cultures & Communities
-20
RBB Bancorp focuses on providing commercial banking services to first-generation immigrants, specifically Chinese, Koreans, and other Asian ethnicities, indicating limited local language incorporation beyond these groups.
1
The company requires directors and management above vice president level to contribute at least 24 hours of annual community service to a qualified organization, which is a general charitable giving policy without a specific cultural heritage focus.
2
The bank has established a CDFI advisory board to assist in finding organizations that provide services to low-to-moderate income people, which represents a form of community representation.
3
RBB Bancorp operates as a minority depository institution and a CDFI, which aligns with the concept of a social license to operate.
4
Safe & Smart Tech
-20
RBB Bancorp conducts periodic employee security training, supplemented by phishing tests.
1
The company performs periodic risk assessments, penetration testing, vulnerability scans, and tabletop exercises.
2
For regulatory compliance, RBB Bancorp leverages controls, best practices, and standards from FFIEC and NIST.
3
However, in 2022, the FDIC and California DFPI issued a consent order citing violations of the Bank Secrecy Act (BSA) and anti-money laundering (AML) regulations, requiring an overhaul of its compliance program and ongoing monitoring.
4
The company's fraud prevention page acknowledges ongoing phishing scams targeting clients.
5
Zero Waste & Sustainable Products
0
No specific, concrete data points were found in the provided articles for RBB.US regarding any of the KPIs under the 'Zero Waste & Sustainable Products' ethical value. The articles discuss waste management initiatives by other entities (e.g., Yucatan, EU member states, Florianópolis, Bank of America, University of Illinois) but do not provide information on RBB.US's performance in this area.