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Recent Developments | 9 Months Ended
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Sep. 30, 2017
Recent Developments [Abstract] |
Recent Developments | NOTE 21 - RECENT DEVELOPMENTS On July 27, 2017, the Company completed its public offering of 3,750,000 shares at a price to the public of $23.00 per share and a total offering size of $86,250,000. The offering was originally 3,000,000 shares but due to demand, it was increased to 3,750,000 shares. The Company sold 2,857,756 shares and the selling shareholders sold 892,244 shares of the Company’s common stock. The offering resulted in gross proceeds to the Company of approximately $65.7 million. The Company contributed $25 million of the net proceeds received from this offering to the Bank in July 2017. Our stock now trades on the Nasdaq Global Select Market under the symbol “RBB”. The increase to capital net of expenses is approximately $60.2 million. On October 19, 2017, RBB Bancorp declared a cash dividend of $0.08 per share for the third quarter of 2017. The dividend is payable on November 30, 2017 to common shareholders of record as of October 31, 2017.

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