RBB Bancorp Announces Completion of Acquisition of Certain Assets and Liabilities of the Honolulu, Hawaii Branch Office of Bank of the Orient
RBB Bancorp (NASDAQ:RBB) announced today that Royal Business Bank, the wholly-owned subsidiary of RBB, completed the acquisition of the Honolulu, Hawaii branch office the Bank of the Orient on January 14, 2022. Royal Business Bank acquired all the premises and equipment at the Branch, all deposits totaling approximately $81.7 million, selected performing loans totaling approximately $7.4 million, an estimated premium of approximately $3.0 million, for a total consideration of approximately $71.0 million. The transaction acquired all necessary regulatory approvals.
Janney Montgomery Scott LLC served as financial advisor and Loren P. Hansen, APC served as legal counsel to RBB Bancorp. Stephe
