RBB Bancorp Announces Plan to Acquire Chicago-based Pacific Global Bank
RBB Bancorp (RBB)
Last rbb bancorp earnings: 4/20 04:11 pm
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US:NASDAQ Investor Relations:
royalbusinessbankusa.com/investor-relations.htm
Company Research
Source: PR Newswire
LOS ANGELES, Sept. 6, 2019 /PRNewswire/ --Key Highlights of the Proposed Transaction:Provides RBB with an initial foothold in the Chicago market Accretive to EPS with a short tangible book value dilution payback period Highly compatible business model and shared credit cultureRBB Bancorp (NASDAQ: RBB) and its subsidiaries, Royal Business Bank and RBB Asset Management Company (collectively referred to herein as "RBB" or the "Company"), announced today that it has entered into a definitive merger agreement with PGB Holdings, Inc. and its wholly-owned subsidiary Pacific Global Bank (collectively referred to herein as "Pacific Global Bank" or "PGB"), whereby RBB will acquire PGB in a cash transaction valued at approximately $32.5 million. PGB owns two of its three branches with an estimated fair market value of approximately $2 million in excess of book value. Pacific Global Bank, a commercial bank based in Chicago, IL, had total assets of $223.3 million, total gross loans of $168.8 mill
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News
- RBB Bancorp (NASDAQ:RBB) had its "hold (c)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
- RBB Bancorp (NASDAQ:RBB) was upgraded by analysts at <a style="font-weight:bold" href="https://www.wallstreetzen.com/newsletters/zen-ratings?ticker=RBB&utm_campaign=getratings&utm_medium=online&utm_source=MarketBeat">Wall Street Zen</a> MarketBeat
- RBB Bancorp (NASDAQ:RBB) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating.MarketBeat
- RBB Bancorp (NASDAQ:RBB) was given a new $21.00 price target on by analysts at Piper Sandler.MarketBeat
- RBB Bancorp (NASDAQ:RBB) had its price target raised by analysts at Keefe, Bruyette & Woods from $21.00 to $23.00. They now have a "market perform" rating on the stock.MarketBeat