NewzIntel.com

Category: Russian Federation

  • MIL-OSI Russia: Income levels of people with disabilities are rising in China

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    BEIJING, July 22 (Xinhua) — The annual net income of households with disabled people in China grew by an average of 6.9 percent a year from 2020 to 2023, almost in line with the country’s GDP growth rate, Cheng Kai, chairman of the China Federation of Disabled People, said Tuesday.

    He spoke at a press conference organized by the State Council Information Office of the People’s Republic of China and dedicated to the results of the implementation of the 14th Five-Year Plan in China. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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  • MIL-OSI Russia: China, Egypt Seek to Strengthen Global South Cooperation within SCO

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    CAIRO, July 22 (Xinhua) — The Chinese Embassy in Egypt and the Egyptian Foreign Affairs Council jointly held a seminar here on Sunday, pointing to the steady development of China-Egypt relations under the framework of the Shanghai Cooperation Organization (SCO).

    The event was attended by senior diplomats, foreign affairs experts and media representatives from both countries.

    In his keynote speech, Chinese Ambassador to Egypt Liao Liqiang noted that Egypt is a dialogue partner of the SCO and welcomed Egypt’s active participation in various events of the organization.

    He expressed the hope that China and Egypt will establish close coordination and cooperation within the SCO framework and advance bilateral relations so as to build a China-Egypt community with a shared future in the new era and contribute to world peace and development.

    The guests attending the meeting praised the booming Egyptian-Chinese relations and the role of the SCO. They expressed hope that Egypt and China can take advantage of the development opportunities provided by the SCO to work together to improve global governance and promote the revival of the Global South.

    Chairing the seminar, Director of the Egyptian Council for Foreign Affairs Ezzat Saad told Xinhua that Egypt remains committed to strengthening cooperation with China both bilaterally and within the SCO framework.

    “We believe that the SCO is an important platform for promoting the development of Egyptian-Chinese relations. Egypt looks forward to further deepening political and economic cooperation between the countries of the Global South based on the initiatives put forward by China,” he said. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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  • MIL-OSI Russia: In China, the coverage rate of children and adolescents with disabilities in compulsory education has reached 97%.

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    BEIJING, July 22 (Xinhua) — The compulsory education coverage rate for children and adolescents with disabilities in China has reached 97 percent, with more than 30,000 students with disabilities entering the country’s universities every year to pursue higher education, Cheng Kai, chairman of the China Federation of Disabled Persons, said at a press conference held by the State Council Information Office on Tuesday. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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    MIL OSI Russia News –

  • IMF’s Gita Gopinath to step down in August, return to Harvard University

    Source: Government of India

    Source: Government of India (4)

    Gita Gopinath, the No. 2 official at the International Monetary Fund, will leave her post at the end of August to return to Harvard University, the IMF said in a statement on Monday.

    IMF Managing Director Kristalina Georgieva will name a successor to Gopinath in “due course,” the IMF said.

    Gopinath joined the fund in 2019 as chief economist – the first woman to serve in that role – and was promoted to first deputy managing director in January 2022.

    No comment was immediately available from the U.S. Treasury, which manages the dominant U.S. shareholding in the IMF. While European countries have traditionally chosen the Fund’s managing director, the U.S. Treasury has traditionally recommended candidates for the first deputy managing director role.

    Gopinath is an Indian-born U.S. citizen.

    The timing of the move caught some IMF insiders by surprise, and appears to have been initiated by Gopinath.

    Gopinath, who had left Harvard to join the IMF, will return to the university as a professor of economics.

    Gopinath’s departure will offer Treasury a chance to recommend a successor at a time when U.S. President Donald Trump is seeking to restructure the global economy and end longstanding U.S. trade deficits with high tariffs on imports from nearly all countries.

    She will return to a university that has been in the Trump administration’s crosshairs after it rejected demands to change its governance, hiring, and admissions practices.

    Georgieva said Gopinath joined the IMF as a highly respected academic and proved to be an “exceptional intellectual leader” during her time, which included the pandemic and global shocks caused by Russia’s invasion of Ukraine.

    “Gita steered the Fund’s analytical and policy work with clarity, striving for the highest standards of rigorous analysis at a complex time of high uncertainty and rapidly changing global economic environment,” Georgieva said.

    Gopinath has also overseen the fund’s multilateral surveillance and analytical work on fiscal and monetary policy, debt, and international trade.

    Gopinath said she was grateful for a “once in a lifetime opportunity” to work at the IMF, thanking both Georgieva and the previous IMF chief, Christine Lagarde, who appointed her as chief economist.

    “I now return to my roots in academia, where I look forward to continuing to push the research frontier in international finance and macroeconomics to address global challenges, and to training the next generation of economists,” she said in a statement.

    (Reuters)

  • IMF’s Gita Gopinath to step down in August, return to Harvard University

    Source: Government of India

    Source: Government of India (4)

    Gita Gopinath, the No. 2 official at the International Monetary Fund, will leave her post at the end of August to return to Harvard University, the IMF said in a statement on Monday.

    IMF Managing Director Kristalina Georgieva will name a successor to Gopinath in “due course,” the IMF said.

    Gopinath joined the fund in 2019 as chief economist – the first woman to serve in that role – and was promoted to first deputy managing director in January 2022.

    No comment was immediately available from the U.S. Treasury, which manages the dominant U.S. shareholding in the IMF. While European countries have traditionally chosen the Fund’s managing director, the U.S. Treasury has traditionally recommended candidates for the first deputy managing director role.

    Gopinath is an Indian-born U.S. citizen.

    The timing of the move caught some IMF insiders by surprise, and appears to have been initiated by Gopinath.

    Gopinath, who had left Harvard to join the IMF, will return to the university as a professor of economics.

    Gopinath’s departure will offer Treasury a chance to recommend a successor at a time when U.S. President Donald Trump is seeking to restructure the global economy and end longstanding U.S. trade deficits with high tariffs on imports from nearly all countries.

    She will return to a university that has been in the Trump administration’s crosshairs after it rejected demands to change its governance, hiring, and admissions practices.

    Georgieva said Gopinath joined the IMF as a highly respected academic and proved to be an “exceptional intellectual leader” during her time, which included the pandemic and global shocks caused by Russia’s invasion of Ukraine.

    “Gita steered the Fund’s analytical and policy work with clarity, striving for the highest standards of rigorous analysis at a complex time of high uncertainty and rapidly changing global economic environment,” Georgieva said.

    Gopinath has also overseen the fund’s multilateral surveillance and analytical work on fiscal and monetary policy, debt, and international trade.

    Gopinath said she was grateful for a “once in a lifetime opportunity” to work at the IMF, thanking both Georgieva and the previous IMF chief, Christine Lagarde, who appointed her as chief economist.

    “I now return to my roots in academia, where I look forward to continuing to push the research frontier in international finance and macroeconomics to address global challenges, and to training the next generation of economists,” she said in a statement.

    (Reuters)

  • MIL-OSI Russia: A friendly football tournament between China and Russia has started in the Chinese city of Hunchun

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    BEIJING, July 22 (Xinhua) — The first China-Russia friendly football tournament in 2025, the Friendship Cup, kicked off in Hunchun, northeast China’s Jilin Province on Monday, with 17 junior and youth teams from the two countries taking part, China’s Zhongxinshe News Agency reported.

    The competition, aimed at promoting sports exchanges between China and Russia, is organized by the Hunchun Municipal People’s Government, the Yanbian Korean Autonomous Prefecture Sports Administration, to which Hunchun is administratively subordinate, and the Jilin Provincial Association for Cultural Exchange with Foreign Countries.

    During the tournament, individual matches will be held among the abovementioned teams. It is planned that the competition among youth teams will end on July 23, and the juniors will last until July 24.

    “We are very grateful to the Chinese side for the invitation to participate in the competition and hope that all teams will be able to play at their best level and achieve good results,” Russian footballer Alexey told a Zhongxinshe correspondent.

    As Secretary General of the Hunchun Football Association Wang Liang noted, football competitions are an important part of cultural exchanges between China and Russia. Holding this football tournament is aimed at creating a platform for exchanging football experiences and strengthening friendship between teenagers and young people of the two countries. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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    MIL OSI Russia News –

  • MIL-OSI Russia: Trump Administration Declassifies Martin Luther King Assassination Files

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    WASHINGTON, July 21 (Xinhua) — The Donald Trump administration has released more than 230,000 pages of documents related to the assassination of civil rights leader Martin Luther King Jr., U.S. Director of National Intelligence Tulsi Gabbard said on social media on Monday.

    She said the documents were released after questions about the murder had been swept under the rug for nearly 60 years.

    “The documents include details of the FBI’s investigation into M.L. King’s murder, discussions of potential leads, internal FBI memos detailing the investigation, information about a former cellmate of James Earl Ray who said he discussed the alleged murder plan with Ray, and more,” Gabbard wrote.

    On January 23, three days after taking office, D. Trump signed an order to declassify all remaining documents related to the assassinations of former President John F. Kennedy, his brother Robert, and M.L. King.

    M. L. King is one of the most prominent figures in the American civil rights movement. He is widely known for his commitment to nonviolent campaigns against racial segregation and inequality, and for his famous “I Have a Dream” speech. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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    MIL OSI Russia News –

  • MIL-OSI Russia: Nearly 20 people trapped after jade mine collapses in northern Myanmar

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    YANGON, July 22 (Xinhua) — About 20 people were trapped after a jade mine collapsed in northern Myanmar’s Kachin State, a local police official told Xinhua.

    The incident took place in Hpakant township on Monday morning. “Two bodies have been found so far and rescue efforts are ongoing,” a local rescue official said.

    The death toll could exceed 10 people, he said, adding that the incident led to the destruction of nearby houses. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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    MIL OSI Russia News –

  • MIL-OSI Russia: Afghanistan Begins Polio Vaccination of 7.3 Million Children

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    KABUL, July 22 (Xinhua) — The Afghan interim government’s Ministry of Health on Monday announced a four-day polio vaccination campaign to target 7.3 million children under five.

    Children in 19 of the country’s 34 provinces will be vaccinated against polio as part of the campaign, which runs from Monday to Thursday, ministry spokesman Sharafat Zaman Amarkhil said.

    He called on tribal elders, religious leaders and parents to actively participate and fully cooperate with health workers for the proper conduct of the campaign.

    “The Ministry of Health is committed to combating infectious diseases by taking all preventive measures. Through the polio vaccination campaign, we are aiming to prevent the spread of polio in Afghanistan,” said M. Z. Amarkhil. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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  • MIL-OSI Russia: Belarus used $7.25 billion in fixed capital investments in January-June 2025 — Belstat

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    MINSK, July 22 (Xinhua) — Belarus spent 23.7 billion Belarusian rubles (7.25 billion U.S. dollars) in fixed capital investments in the first half of 2025, the country’s National Statistical Committee (Belstat) reported on Monday.

    The share of Minsk region in the total volume of investments in fixed capital of the country was 25.5%. In Minsk, 21.2% of investments were used, in Gomel region – 13.3%, in Brest region – 13%, in Grodno region – 9.6%, in Vitebsk region – 8.8%, in Mogilev region – 8.7%.

    In the technological structure of investments in fixed capital, 48.2% were spent on construction and installation works, 38% on machinery, equipment, and vehicles, 11.4% on other works and costs, and 2.4% on intellectual property.

    By type of ownership, 38.4 percent of the total investment in fixed capital was state-owned. In turn, 55.4 percent was investment in private property, and 6.2 percent in foreign property.

    In terms of sources of financing, the consolidated budget accounted for 20.2% of the total investment in fixed capital, while organizations’ own funds accounted for 43.6%. Borrowed funds from other organizations accounted for 0.6%, foreign investment – 1.9%, bank loans/borrowings – 13.6%, household funds – 12.7%, off-budget funds – 0.3%, and other sources – 7%.

    In terms of the main types of economic activity, real estate transactions accounted for 22.6 percent of the total investment in fixed capital, manufacturing accounted for 18.7 percent, and agriculture, forestry and fisheries accounted for 14.7 percent. Transportation, warehousing, postal and courier services accounted for 6.8 percent, and the supply of electricity, gas, steam, hot water and air conditioning accounted for 6.3 percent. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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    MIL OSI Russia News –

  • MIL-OSI China: Zelensky says Ukraine, Russia to hold talks in Türkiye on Wednesday

    Source: People’s Republic of China – State Council News

    The next round of peace talks between Russia and Ukraine will be held Wednesday in Türkiye, Ukrainian President Volodymyr Zelensky said Monday.

    In his daily address, Zelensky said he discussed with Rustem Umerov, secretary of the National Security and Defense Council, about the meeting. “Umerov said the meeting was scheduled for Wednesday. There will be more details tomorrow.”

    Umerov, the former defense minister, was appointed to his current position last week and headed the Ukrainian delegation in the previous two talks in Istanbul, Türkiye.

    However, Russia’s TASS news agency quoted a source as saying that the third round of talks will take place on Thursday. “The meeting is scheduled for July 24, the delegations may arrive in Istanbul on the 23rd,” the source said.

    Kremlin spokesperson Dmitry Peskov said Sunday that Russia is ready to move quickly toward a settlement on Ukraine, but the main objective is to achieve its goals. 

    MIL OSI China News –

  • MIL-OSI Russia: NSU students and staff presented their developments in the field of prosthetics at the national forum “Hope for Technology”

    Translation. Region: Russian Federal

    Source: Novosibirsk State University –

    An important disclaimer is at the bottom of this article.

    The 10th National Forum of the Rehabilitation Industry and Universal Design “Hope for Technology”, dedicated to demonstrating comprehensive solutions for creating an accessible environment, modern technologies for people with disabilities, was held in Moscow on July 10-11. The large-scale exhibition display of Russian manufacturers presented more than 450 domestic solutions in 9 areas: prostheses, orthoses and functional units, rehabilitation equipment and exercise machines. The biomechanics and medical engineering group of the Novosibirsk State University, which consists of students from several faculties, presented its developments to the professional community. This scientific group was created on the basis of Mathematical center in Akademgorodok

    The exhibition of assistive technologies was attended by the head of the group, candidate of physical and mathematical sciences Vladimir Serdyukov, 4th year students Faculty of Mechanics and Mathematics of NSU Daria Korostovskaya and Alexander Niukkanen, 3rd year student Faculty of Mechanics and Mathematics of NSU Tatyana Shashkina, 5th year student Institute of Medicine and Medical Technologies NSU Sofia Eksharova, 2nd year master’s student Faculty of Mechanics and Mathematics of NSU Andrey Karavan, Master’s degree graduate Faculty of Geology and Geophysics of NSU Innokenty Serdyuk and postgraduate student of the Institute of Thermal Physics SB RAS Konstantin Lebeda. Young researchers got acquainted with developments in the field of assistive technologies, learned a lot of interesting things, showed the results of their projects, received feedback and acquired valuable contacts for further cooperation.

    At their stand, the young researchers presented a motion capture system for studying the kinematics of patients’ walking, as well as an adaptive prosthetic socket for a hand prosthesis using 3D printing technology.

    The group also presented its latest developments: a 3D-printed prosthetic foot for activity levels 1–2 and insoles for gait biomechanics diagnostics for amputees, which will complement and improve the motion capture system.

    — The most feedback was received by one of our new developments, which was tested for the first time at the forum — a foot prosthesis printed on a 3D printer. Working on this project, we set ourselves the following goal: to make a foot prosthesis that would have a low cost, be easy to manufacture, have the ability to be personalized and manufactured in a short time using simple equipment, which would increase its availability, but at the same time maintain the general biomechanics of walking. An important point is that our prosthesis belongs to activity levels 1-2 and is intended only for walking, but is not suitable for running or sports. To develop the geometry, a digital stand was used that imitates human loads when walking. This way, we were able to create a prosthesis geometry that meets the goal, — said Andrey Karavan.

    For the precise design of the prosthesis, 3D modeling and load analysis technologies in Ansys were used. Manufacturing using FDM printing technology took about 12 hours. The weight of the finished product was about 700 grams. This project received financial support from the Ministry of Science and Innovation Policy of the Novosibirsk Region.

    The first time a patient tested a printed prosthesis was at the forum. The guys offered to test and evaluate it to the head of the prosthetic center “Instep” (St. Petersburg), who is an amputee himself.

    — He liked that the sole is non-slip – even on wet floor tiles, which allows the user to take a shower without the risk of falling. However, he pointed out the shortcomings and shortcomings regarding the geometry of the product and made constructive suggestions for its improvement. His opinion is very important to us, and taking this feedback into account, we will adjust the prosthesis model and organize re-testing on other amputees. It will not be difficult to make adjustments due to the simplicity of the technology, — explained Daria Korostovskaya.

    Another new development of the NSU biomechanics and medical engineering group attracted great interest from the forum participants — a pressure insole that will accurately determine the step phases and gait asymmetry. This “smart” insole was previously tested together with a motion capture system for analyzing gait kinematics. The invention will allow specialists in prosthetic centers to analyze the distribution of the load between healthy and amputated limbs, evaluate the distribution of pressure on the foot or prosthesis, and the dynamics of rehabilitation outside the clinic. This project received support from the FSI Foundation as part of the Student Startup competition.

    — The video we recorded while testing this insole shows the distribution of the load on the foot when walking. It is important that it allows us to divide the gait cycles into support and transfer phases. We have the opportunity to analyze their ratio and draw conclusions about the gait asymmetry indicator of amputees, which is important for monitoring rehabilitation and correct placement of the prosthesis. When diagnosing the biomechanics of amputees’ gait, such insoles are placed in shoes under both the patient’s healthy foot and the prosthesis. To transmit and read data from the insole, we developed software for processing and visualizing the data, — said Tatyana Shashkina.

    Young researchers plan to combine the motion capture system with a “smart” insole. During early research, the guys came to the conclusion that combining these technical solutions will allow for a more complete gait analysis. The motion capture system records the kinematics of the gait, and the insole records the pressure of the foot and prosthesis on the surface. By combining these data, it is possible to track the biomechanical indicators and symmetry of the patient’s gait, which is of great importance for assessing the progress of rehabilitation and adjusting the prosthesis settings.

    This development has attracted great interest from representatives of prosthetic centers, some of whom have expressed interest in testing it in their institutions and working together. Among them are the Alorto prosthetic and orthopedic center (Barnaul) and the Ortho-Innovation prosthetic center (Moscow).

    — We will be glad to cooperate with these and other prosthetic centers, including because during joint testing we will be able to replenish the database of gait kinematics of patients with lower limb amputations, which we are currently forming in the course of joint work with the Novosibirsk branch of the Moscow Prosthetic and Orthopedic Enterprise. In addition, at the forum we received a request to develop an adaptive prosthetic socket for a leg using 3D printing technology, similar to our existing development of a prosthetic socket for an arm. This is exactly what we intend to do in the near future, — Vladimir Serdyukov summed up.

    Material prepared by: Elena Panfilo, NSU press service

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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    MIL OSI Russia News –

  • MIL-OSI Russia: The AI Revolution in Education: Are Chinese Algorithms Teaching You?

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    BEIJING, July 22 (Xinhua) — China has released guidelines to accelerate digital education this year. Based on three years of experience summarizing the national digital education strategy, Chinese authorities have put forward comprehensive work plans to further advance national digital education.

    How far has digital education progressed in China now and how will it develop in the future?

    A BREAKTHROUGH IN DIGITAL EDUCATION

    In 2022, the state public service platform for intellectual education was opened, marking the official launch of the national digital education strategy.

    After three years of development, this platform integrates 5 sub-platforms and has access to 32 provincial-level platforms. It has registered more than 163 million users and the number of visits and views on the platform has exceeded 60.8 billion times.

    At the same time, the platform has launched more than 110 thousand educational resources for primary and secondary schools, more than 11 thousand high-quality online courses for vocational education and 31 thousand courses for higher education.

    “Over the past three years, breakthroughs have been made in implementing the national digital education strategy and the world’s largest platform for public learning resources and services and a lifelong public learning platform have been established,” said Zhou Dawan, head of the Department of Science, Technology and Information Technology of the Ministry of Education of the People’s Republic of China.

    At present, digital education in China is being comprehensively promoted with faster speed and efficiency. All schools at different levels in China are connected to the Internet, and more than 75% of schools have wireless network coverage. In addition, new infrastructure has been built in many places to build provincial-level intelligent education platforms.

    “In the future, it is necessary to work hard to build a diversified system of platforms, catalog systems, resources, data and application systems, and improve the platform’s intelligence level to create a digital base with high intelligence and strong interaction,” said Yang Zongkai, head of the advisory committee of experts on digital education at the Ministry of Education of the People’s Republic of China.

    AI IN EDUCATION REFORM

    Nowadays, the application of artificial intelligence is becoming a hot topic in the field of education. From cities to rural areas, many educational institutions have begun to study specific areas of application of artificial intelligence.

    In March this year, China released the intelligent version of the national intelligent education platform 2.0 and launched an “artificial intelligence testing ground” to promote innovation in human-computer interaction.

    Zhou Dawan noted that in the future, the “AI testing ground” will be improved, focusing on four main aspects – student learning, teacher teaching, educational management and scientific research, and the innovative forces of high-level universities and enterprises will be combined to develop promising practical AI tools.

    It should be recalled that the guidelines on accelerating digital education state that it is necessary to promote the digital transformation of academic disciplines, teaching materials and teaching models, and to improve the digital literacy and skills of the entire population, especially teachers and students.

    In addition, the document also proposes to establish an “AI education” security assurance system and explore the possibility of establishing an algorithm security assessment system to effectively avoid problems such as cyber attacks, information cocoons, algorithm hegemony and Internet addiction.

    PROMOTING DIGITAL EDUCATION AS AN INTERNATIONAL BRAND

    The above document points out that the internationalization of digital education should be actively promoted and international cooperation in the joint creation and utilization of resources, joint training of personnel, etc. should be deepened so as to form an international brand of Chinese digital education.

    After more than 10 years of development, China ranks first in the world in the number and scale of application of massive open online courses (MOOCs), creating an international brand in higher education worldwide.

    In January 2024, the international version of the government’s public service platform in the field of intelligent education was launched, which will provide all-weather support for the education of students around the world.

    In addition, according to the data, the state intellectual education platform in the field of higher education has been visited by more than 106 million people, and its users cover 183 countries and regions of the world.

    The document also said that it is necessary to deepen the application of the international version of the national public service platform in the field of intelligent education, so that digital education can benefit students all over the world and China’s digital education can become a benchmark for the world.

    “Digital education is an inevitable trend of modern development,” Zhou Dawan said, adding that it is not only a technological revolution in education, but also a profound reform of the concept, model and management of education.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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    MIL OSI Russia News –

  • MIL-OSI China: China urges EU to stop harming legitimate interests of Chinese enterprises

    Source: People’s Republic of China – State Council News

    China on Monday called on the European Union (EU) to stop damaging the legitimate interests of Chinese enterprises without any factual ground, and said it will take necessary measures to protect their lawful rights and interests.

    Chinese foreign ministry spokesperson Guo Jiakun made the remarks at the daily press briefing when asked to comment on the EU’s latest sanctions against Russia, which involve multiple Chinese enterprises and banks.

    “I would like to emphasize that China has always opposed unilateral sanctions that have no basis in international laws and are not authorized by the UN Security Council,” Guo said.

    Regarding the Ukraine crisis, he said China has been committed to promoting peace talks, has never provided lethal weapons to the conflicting parties, and has exercised strict control over the export of dual-use items.

    The normal exchanges and cooperation between Chinese and Russian enterprises should not be interfered with or affected, he added.

    MIL OSI China News –

  • MIL-OSI China: China strongly opposes EU’s inclusion of Chinese entities in Russia sanctions

    Source: People’s Republic of China – State Council News

    A spokesperson for China’s Ministry of Commerce on Monday expressed strong dissatisfaction and firm opposition to the European Union’s (EU) decision to include Chinese companies and financial institutions in its 18th round of sanctions against Russia.

    Responding to a media inquiry, the spokesperson said the EU had disregarded China’s multiple representations and objections by unilaterally including Chinese companies in its sanctions list and imposing penalties on two Chinese financial institutions based on groundless accusations.

    The spokesperson emphasized that China consistently opposes unilateral sanctions that lack basis in international law and authorization from the United Nations Security Council.

    The EU’s actions contradict the consensus reached between Chinese and EU leaders, and will seriously undermine China-EU economic and trade ties as well as financial cooperation, the spokesperson added.

    China urges the EU to immediately cease its erroneous practice of including Chinese enterprises and financial institutions in its sanctions list, the spokesperson said. The spokesperson added that China will take necessary measures to firmly protect the legitimate rights and interests of Chinese companies and financial institutions.

    MIL OSI China News –

  • MIL-OSI Russia: Moscow Metro – Russia made its first payment in digital rubles under a smart contract for insuring the capital’s driverless tram

    Translation. Region: Russian Federal

    Source: Moscow Metro – Russia has made its first payment in digital rubles under a smart contract for insuring the capital’s driverless tram


    Moscow Metro – Russia has made its first payment in digital rubles as part of a smart contract for insuring the capital’s driverless tram.

    As Maxim Liksutov explained, the transaction was successfully completed in pilot mode between the insurance group “SOGAZ” and the metro with the support of VTB. The payment is not related to the occurrence of an insured event.

    The main advantages of digital rubles:

    Reliability. It is a digital form of national currency along with cash and non-cash funds

    Speed. Payments are processed automatically within 1 day within the smart contract

    Security. Complete transparency of transfers, payment for goods and services

    In early 2025, on the instructions of Moscow Mayor Sergei Sobyanin, the Moscow Government concluded a smart contract to insure the first unmanned tram in Russia. The test payment proved the safety, transparency and high speed of fulfilling obligations using digital rubles. Online calculation of simulated damage and payment of compensation occurred within 1 day. In the future, digital rubles will become one of the ways to pay for travel and other transport services in the capital, said Maxim Liksutov.

    MIL OSI Russia News –

  • MIL-OSI Russia: The International Philanthropist Award for outstanding achievements of people with disabilities in the field of culture and art accepts applications until 31.08.2025

    Translation. Region: Russian Federal

    Source: Solid Bank – Solid Bank –

    An important disclaimer is at the bottom of this article.

    The partner of the financial house “Solid” the Foundation for the support of the disabled “Philanthropist” announces the start of collecting applications for participation in the XIII International Award “Philanthropist” for outstanding achievements of the disabled in the field of culture and art. The prize fund of each Laureate will be 200,000 rubles. Applications for the competition are accepted until August 31, 2025.

    Organizers

    Government of the Russian Federation Chamber of Commerce and Industry of the Russian Federation Government of Moscow Russian Academy of Arts All-Russian Society of Disabled People Philanthropist Foundation

    Nominations

    Performing Arts Fine Arts Literary Arts

    Awarded once every two years

    The bonus fund is formed from extra-budgetary sources.

    Each nomination has several sub-nominations.

    Special prizes

    “For the preservation of folk art traditions” “For novelty and originality in creativity” “Overcoming. Beyond the Possible” “To Growing Hopes” “To a statesman and public figure for providing effective assistance to disabled people and their public organizations” “Defender of the Fatherland” (The prize is awarded solely on the recommendation of the jury members from the nominations presented above to a disabled person who is a participant in local military conflicts or combat operations. Has a monetary equivalent). “For providing effective assistance to disabled people and their public organizations” – awarded to a statesman and/or public figure (has no monetary value); “To a philanthropist and patron of the arts” – awarded to business representatives for providing charitable and sponsorship assistance to disabled people and their public organizations (has no monetary value).

    The XIII Ceremony of the “International Philanthropist Award for Outstanding Achievements of Disabled People in Culture and Art” will be held on December 2, 2025 in Moscow. Executive Directorate of the Award – Philanthropist Foundation for the Support of Disabled People 101000, Moscow, Moroseyka St., Building 3/13, Building 1.

    Detailed information is available on the Foundation’s websiteGDV.filanthrop.ruTel.: 7 917 557-69-90

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    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Moscow Metro – Russia conducted its first digital ruble payment as part of a smart contract for insuring the capital’s autonomous tram

    Source: Moscow Metro

    Russia conducted its first digital ruble payment as part of a smart contract for insuring the capital’s autonomous tram.

    Russia conducted its first digital ruble payment as part of a smart contract for insuring the capital’s autonomous tram. – Московский метрополитен – В России провели 1-й платеж цифровыми рублями в рамках смарт-контракта на страхование столичного беспилотного трамвая.

    As Maksim Liksutov reported, the transaction was successfully carried out in pilot mode between the insurance group SOGAZ and the metro, with the support of VTB Bank. The payment was not related to an actual insurance event.

    Key advantages of digital rubles:

    Reliability. This is a digital form of the national currency, alongside cash and non-cash funds.

    Speed. Payments are processed automatically within one day under a smart contract.

    Security. Full transparency of transfers, as well as payments for goods and services.

    At the beginning of 2025, on the instructions of Moscow Mayor Sergey Sobyanin, the Moscow Government signed a smart contract to insure Russia’s first autonomous tram. This test payment proved the safety, transparency, and high speed of fulfilling obligations using digital rubles. The online calculation of simulated damages and the payout of compensation were completed within one day. In the future, digital rubles will become one of the payment methods for fares and other transportation services in the capital, — said Maksim Liksutov.

    MIL OSI Russia News –

  • MIL-OSI New Zealand: Advocacy – Peters fails again – time for real action on Occupied Gaza – PSNA

    Source:  Palestine Solidarity Network Aotearoa (PSNA)

     

    The Palestine Solidarity Network Aotearoa says New Zealand’s signature on a joint statement of 25 countries on Gaza is meaningless without concrete action.

     

    PSNA Co-Chair John Minto says Peters’ statements in the media this morning, fall well short of the condemnation in the joint statement, and are what Minto calls the usual ducking the issue of Israeli culpability.

     

    “Peters still can’t bring himself to criticise Israel in Gaza – even after 21 months of mass killing and mass starvation of Palestinians.  He condemns a suffering situation, but carefully avoids stating who it causing it.”

     

    Minto says there is an extensive list of actions the government must take if it’s serious.

     

    “I’m sure the Israeli ambassador in Wellington is happily reporting to his ministry in Tel Aviv that the New Zealand government is still tolerating mass starvation, bombing civilians and ethnic cleansing.” Minto says.

     

    “If the New Zealand government was serious, it would implement this list”:

     

    1.       Back the call from UN Special Rapporteur for the OPT, Francesca Albanese, for military protection for aid convoys to enter Gaza.

    2.       Close the Israeli embassy in Wellington

    3.       End trade and investment ties with Israel

    1. Deny entry visas for all Israeli Defence Forces personnel

    5.       Introduce legislation to sanction Israel the same as the Russia Sanctions Act

    6.       Cease approval for Rakon to export crystal oscillators which may be used by the Israeli military for targeting Gaza and other Israeli assault zones

    7.       Ban all Rocket Lab launches of satellites used for Israeli reconnaissance over Gaza

    8.       Suspend all bilateral agreements with Israel; movie co-production, overflight agreement and technological cooperation

    9.       Stop remittances going to Israel, such as funds for the racist Jewish National Fund

    10.   Cut scientific, academic, sport and cultural ties with the State of Israel

    11.   Sell all New Zealand’s Superfund investments in Israeli companies

    12.   Vote to suspend Israeli membership of the United Nations for not withdrawing from all the Occupied Palestinian Territory

    13.   Cease approving Israeli munitions transporter ZIM Shipping using our ports

    14.   Join the case against Israeli genocide in the International Court of Justice

    15.   Sign onto the Hague Group of countries working to ensure Israel complies with International Law  https://thehaguegroup.org/home/

     

     

    John Minto

    Co-Chair

    Palestine Solidarity Network Aotearoa

    MIL OSI New Zealand News –

  • MIL-OSI China: UK launches 50-Day military support campaign for Ukraine

    Source: People’s Republic of China – State Council News

    British Defence Secretary John Healey on Monday announced the launch of a 50-day military support campaign for Ukraine, aligning with a recent warning issued by U.S. President Donald Trump to Russia.

    Healey said on social media platform X that at the Ukraine Defence Contact Group (UDCG) meeting held on Monday, participating countries reached a new agreement to supply critical air defence ammunition to Ukraine, “as part of a 50-day drive to arm Ukraine and force Putin to the negotiating table.”

    Last week, Trump said that he had secured an agreement with NATO allies to facilitate large-scale arms deliveries to Ukraine. He also warned Russia that it would face a second round of tariffs if it fails to reach a peace deal within 50 days.

    At the UDCG meeting, Healey affirmed Britain’s support, saying that Britain “backs this policy” and will fully participate to ensure its success, according to French news outlet AFP.

    Healey also revealed that Britain and Germany have agreed to jointly provide air defence missiles to Ukraine. The partnership is part of a wider European initiative aimed at strengthening Ukraine’s defensive capabilities.

    According to a press release from the British Ministry of Defence on Monday, Britain has already delivered more than 150 million pounds (202.5 million U.S. dollars) worth of air defence missiles and artillery to Ukraine over the past two months. The country is also ramping up procurement efforts to provide hundreds more air defence missiles and thousands of artillery shells.

    In total, Britain is expected to spend at least 700 million pounds on air defence and artillery support for Ukraine this year, including the 150 million pounds worth of equipment already delivered, according to the release. (

    MIL OSI China News –

  • MIL-OSI Russia: Russia and Abkhazia have approved plans for joint development until 2030

    Translation. Region: Russian Federal

    Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –

    An important disclaimer is at the bottom of this article.

    During the official visit to Abkhazia, the Russian delegation headed by Deputy Prime Minister Alexander Novak discussed key areas of bilateral cooperation with representatives of the republic’s Ministry of Economy. Particular attention was paid to the implementation of joint projects within the framework of existing intergovernmental agreements.

    “Over the past 4 years, the Program for the Socioeconomic Development of the Republic of Abkhazia has been successfully implemented. The volume of trade between our countries has grown by 60%. According to the results of several months of 2025, the growth in trade turnover was about 30%. Russia provides support for the socioeconomic development of the Republic. We see enormous potential for the development of agriculture and tourism in the Republic. Abkhazia is a reliable and friendly partner for us. We have common ideas and initiatives, the same view of the situation in the world, which should become multipolar,” said Alexander Novak.

    One of the significant results of the meeting was the extension of the basic agreement on socio-economic cooperation until 2030. This will create the basis for a new five-year program for 2026–2030, which should come into force by the end of 2025.

    “The difficulties that the republic faces are not easy, but with the support of the Russian Federation, we can overcome them. It is very important for us to implement all the programs that we have outlined. Based on the results of 2022-2025, we see positive results: trade turnover has grown significantly, GDP has increased by 187%. These are serious indicators. I am confident that the implementation of the current program will give a special impetus to the development of the economy of our Republic,” said Badra Gunba, President of the Republic of Abkhazia.

    During the visit, the 20th meeting of the Russian-Abkhaz Intergovernmental Commission was held, where the parties agreed on further steps for the development of the republic. In particular, the following will be continued: the implementation of the State Program for the Socio-Economic Development of Abkhazia for 2022-2025, the extension of the basic agreement on socio-economic cooperation until 2030.

    In the coming years, it is planned to develop and implement sectoral development work maps in the areas of energy, tourism, transport, healthcare and education, social protection of the population, investment climate, real estate cadastre, customs and tax administration, and public utilities. “The main objective of these maps is to further develop the economy of Abkhazia in conjunction with the formation of a common social and economic space between our countries, and to create a favorable investment climate,” commented Sergey Nazarov, Deputy Minister of Economic Development of Russia. “As well as eliminating infrastructure restrictions for economic development, attracting investment and tourists to the republic, expanding social protection measures for the population, improving the quality and accessibility of services provided to citizens of the republic in the social sphere, and the standard of living of the population of the republic as a whole.”

    The delegation also visited the site of the future Children’s Republican Hospital, the Sukhum International Airport named after V.G. Ardzinba, to assess the progress of joint projects. The extension of the agreement until 2030 cements the long-term partnership between the two countries.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Yuri Trutnev: Buryatia on “Far East Street” will tell about the sacred lake

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – Government of the Russian Federation –

    An important disclaimer is at the bottom of this article.

    The Republic of Buryatia will traditionally take part in the exhibition “Far East Street”, which will be held from September 3 to 9 as part of the tenth, anniversary Eastern Economic Forum in Vladivostok. This year, the region’s exposition is called “Baikal. Buryatia. Code of the Future”. The organizer of the exhibition is the Roscongress Foundation with the support of the office of the Plenipotentiary Representative of the President of Russia in the Far Eastern Federal District.

    “Baikal is a unique place of power, it is not for nothing that it is called the sacred sea. It is a calling card not only of Buryatia, but of our entire country. It is a national and world treasure. But it is not only the natural beauty that attracts people to Buryatia. Those who come to the republic know the unique culture and traditions of the region. Thanks to the program of renovation of Far Eastern cities, the appearance of Ulan-Ude and Severobaikalsk is changing, the quality of life of people is improving. New enterprises are opening in the republic, highly qualified jobs are being created. Participants and guests of the Eastern Economic Forum will be able to learn about what Buryatia is famous for,” said Deputy Prime Minister – Plenipotentiary Representative of the President in the Far Eastern Federal District, Chairman of the Organizing Committee of the Eastern Economic Forum Yuri Trutnev.

    The goal of the Buryatia pavilion is to show the potential for the development of environmentally sustainable tourism, digitalization and the introduction of advanced technologies in the region. The space will feature virtual tours, master classes and other events.

    The republic’s exposition will be presented by two pavilions. There will also be an outdoor exhibition area and a site for master classes. A new space will appear – a spiritual cleansing zone. A Buryat yurt will be installed, inside which a center of oriental medicine will be located – traditional methods of treatment will be presented. In addition, visitors to the exhibition will be able to compete in national sports and take part in the games of the peoples of Buryatia. A separate space will be opened demonstrating the region’s contribution to the Victory in the Great Patriotic War and support for a special military operation.

    “Between the main pavilion, where the republic’s tourism and investment activities will be presented, and the yurt, there will be an installation imitating a corridor with tied hii morin, and a khurde drum will also be installed. A new cultural program has also been developed, it will be called “My Buryatia” and will introduce the guests of the EEF to the multifaceted culture of our amazing republic. Two of our famous groups will present their colorful numbers – the Buryat National Song and Dance Theater “Baikal” and the Municipal Theater of Folk Music and Dance “Zabava”, – noted the head of the Republic of Buryatia Alexey Tsydenov.

    In the Tourism zone of the main pavilion, visitors will be able to view virtual tours, take part in interactive games, and complete the Feel Buryatia quest. The site will emphasize the importance of preserving the unique ecosystem of Lake Baikal and demonstrate initiatives in ecotourism and biodiversity conservation. The space will feature travel companies and guides from Buryatia, who will introduce visitors to the stand to the region’s tourism opportunities.

    In the “Live in the Far East! – Live on Baikal!” zone, visitors to the exhibition will be able to obtain information about the “Far Eastern hectare” and other initiatives. Multimedia screens will present investment projects of the region, including ongoing and promising proposals in the field of tourism, subsoil use and public-private partnership. Key initiatives and opportunities for cooperation within the framework of master plans and integrated development of territories will also be shown.

    Innovative technologies and digital solutions will be presented in the “Code of the Future” zone. The space will demonstrate the integration of modern technologies into the development of the region. The exhibition will include innovative projects in the field of biotechnology, processing of medicinal herbs and digital solutions for the management of natural resources and tourism infrastructure.

    In addition, the second pavilion of the regional exposition will house a gallery of artisans with a variety of folk art and crafts, as well as factories and plants producing ethnic-style products with the theme of Lake Baikal from natural materials. The tasting area will introduce guests to the variety of flavors of locally produced products. A presentation of goods made by local manufacturers and presented on popular marketplaces is also expected.

    The exhibition “Made in Buryatia” will be significantly expanded. And on the second floor of the regional pavilion there will be an art gallery organized by the National Museum of the Republic of Buryatia.

    In the outdoor part of the exhibition, the flagship of the republic’s industry, the Ulan-Ude Aviation Plant, will present a model of the Ka-226T helicopter. Also planned on the site are performances by artists of the Baikal Song and Dance Theatre, the musical project “That’s How Buryatia Sounds” and the ethno group “Daida”. In addition, the national orchestra will introduce guests of the pavilion to the music of nomads and the endless picturesque Buryat steppes, and artists of the Zabava Theatre will introduce them to the traditions of the Transbaikal Cossacks.

    The 10th Eastern Economic Forum will be held on September 3–6 at the campus of the Far Eastern Federal University in Vladivostok. During these days, the exhibition will be available to forum participants, and on September 7, 8, and 9, it will be open to everyone. The EEF is organized by the Roscongress Foundation.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Alexander Novak: Russia and Abkhazia continue to strengthen strategic partnership

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – Government of the Russian Federation –

    An important disclaimer is at the bottom of this article.

    Alexander Novak met with the President of the Republic of Abkhazia Badra Gunba

    July 21, 2025

    Alexander Novak met with the President of the Republic of Abkhazia Badra Gunba

    July 21, 2025

    Alexander Novak met with the President of the Republic of Abkhazia Badra Gunba

    July 21, 2025

    20th meeting of the Russian-Abkhaz intergovernmental commission. Broad composition

    July 21, 2025

    20th meeting of the Russian-Abkhaz intergovernmental commission. Broad composition

    July 21, 2025

    20th meeting of the Russian-Abkhaz intergovernmental commission. Broad composition

    July 21, 2025

    Signing ceremony of the protocol of the 20th meeting of the Russian-Abkhaz intergovernmental commission

    July 21, 2025

    Signing ceremony of the protocol of the 20th meeting of the Russian-Abkhaz intergovernmental commission

    July 21, 2025

    Previous news Next news

    Alexander Novak met with the President of the Republic of Abkhazia Badra Gunba

    As part of an official visit to the Republic of Abkhazia, Deputy Prime Minister of Russia Alexander Novak met with the President of the Republic of Abkhazia Badra Gunba. During the talks, the parties discussed key areas of bilateral cooperation, including issues of socio-economic development, strengthening infrastructure and expanding humanitarian ties.

    “Over the past four years, the program for the socio-economic development of the Republic of Abkhazia has been successfully implemented. The volume of trade between our countries has grown by 60%. According to the results of several months of 2025, the growth in trade turnover was about 30%. Russia provides support for the socio-economic development of the republic. We see enormous potential for the development of agriculture and tourism in the republic. For us, Abkhazia is a reliable and friendly partner. We have common ideas and initiatives, the same view of the situation in the world, which should become multipolar,” said Alexander Novak.

    The President of the Republic of Abkhazia Badra Gunba noted that the difficulties the republic faces are not easy, but with the support of the Russian Federation, they can be overcome. “It is very important for us to implement all the programs that we have outlined. Based on the results of 2022-2025, we see positive results: trade turnover has grown significantly, GDP has increased by 187%. These are serious indicators. I am confident that the implementation of the current program will give a special impetus to the development of the economy of our republic,” the head of Abkhazia noted.

    During the visit, the 20th meeting of the Russian-Abkhaz Intergovernmental Commission was also held, at which the parties discussed key areas of cooperation and outlined further steps for the socio-economic development of the republic.

    The delegation visited a number of significant sites, including the site of the future Children’s Republican Hospital, the Sukhum International Airport named after V.G. Ardzinba. “Despite the existing challenges, our work remains systematic, and cooperation remains practical. Russia and Abkhazia continue to consistently strengthen their strategic partnership. Today, we are jointly building a common space of security and sustainability, implementing large-scale programs for the development of key industries,” noted Alexander Novak.

    During the meeting, the parties agreed on a number of important decisions. Among them are the continuation of the implementation of the State Program for the Socio-Economic Development of the Republic of Abkhazia for 2022–2025, the extension of the basic agreement on socio-economic cooperation until 2030, which will create the basis for a new five-year program for 2026–2030. The agreement should come into force by the end of the year.

    “I am confident that the results of our joint work will create the basis for sustainable movement forward, will strengthen our strategic partnership and will bring tangible benefits to the citizens of Russia and Abkhazia,” Alexander Novak summed up.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: Final XBRL taxonomy of the Bank of Russia (version 7.1 for NSO)

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    An important disclaimer is at the bottom of this article.

    The final XBRL taxonomy of the Bank of Russia (version 7.0), in comparison with the preliminary XBRL taxonomy of the Bank of Russia (version 7.0), contains architectural amendments to the supervisory and statistical reporting module, as well as control ratios of indicators of supervisory and statistical reporting of non-credit financial institutions, entities providing professional services in the financial market, and self-regulatory organizations in the financial market (hereinafter referred to as financial market participants).

    The final XBRL taxonomy of the Bank of Russia (version 7.0) contains a finalized set of requirements for reporting data in terms of supervisory and statistical reporting for the following segments:

    1) insurance organizations, mutual insurance societies, foreign insurance organizations (subject to the entry into force of the draft Bank of Russia instruction1);

    2) non-state pension funds (subject to the entry into force of the draft Bank of Russia instruction2);

    3) professional participants in the securities market, trade organizers, clearing organizations (subject to the entry into force of the draft Bank of Russia instruction3);

    4) joint-stock investment funds, investment fund management companies, mutual investment funds, non-state pension funds (subject to the entry into force of the draft Bank of Russia instruction4);

    5) specialized depositories (subject to the entry into force of the draft Bank of Russia instruction5);

    6) credit rating agencies (subject to the entry into force of the draft Bank of Russia instruction6);

    7) insurance brokers (subject to the entry into force of the draft Bank of Russia instruction7);

    8) credit history bureau (subject to the entry into force of the draft Bank of Russia instruction8);

    9) operators of investment platforms, operators of financial platforms, operators of information systems in which digital financial assets are issued, operators of digital financial asset exchange (subject to the entry into force of the draft Bank of Russia instruction9);

    10) payment acceptance operators (subject to the entry into force of the draft Bank of Russia instruction10);

    11) self-regulatory organizations in the financial market (submission in accordance with the current Bank of Russia Instruction dated 10.06.2024 No. 6744-U11).

    The final XBRL taxonomy of the Bank of Russia (version 7.0) also contains a finalized set of requirements for reporting data on cash transactions (OKUD 0420011) (presentation in accordance with the current Bank of Russia Instruction dated 28.06.2024 No. 6789-U12) and requirements for reporting data of annual consolidated financial statements (presentation in accordance with the current Bank of Russia Instruction dated 20.07.2020 No. 5510-U13).

    The specified version of the XBRL taxonomy of the Bank of Russia is intended for familiarization purposes.

    In the future, it is planned to publish a corrective version of the final XBRL taxonomy of the Bank of Russia (version 7.1), which will include corrected control ratios and other targeted improvements, with a planned entry into force date of 01.01.2026.

    Information about the pilot collection of test reporting will be provided additionally.

    Please note that the final XBRL taxonomy of the Bank of Russia (version 7.0) does not contain requirements for the accounting (financial) reporting of non-credit financial institutions and persons providing professional services in the financial market.

    1 The project of instructions of the Bank of Russia “On the Forms, Dates and Procedure of the Compilation and Presentation of the Reporting of Insurers to the Bank of Russia.” The project of the Bank of Russia “On Amending the Bank of Russia dated June 28, 2024 No. 6796-U”. and clearing organizations, as well as other information. ”4 Project of the Bank of Russia instructions“ On Amending the Bank of Russia dated October 5, 2022 No. 6292-U. ”Design of indicating the Bank of Russia“ On Amending the Bank of Russia dated September 27, 2022 No. 6270-U. ”The draft of the Bank of Russia instruction“ On the content of the reporting of the credit rating agency, the subject, form, form and form of terms and procedure, form, form and manner. its compilation and submission to the Bank of Russia. ”The project of instructions of the Bank of Russia“ On Amendments to the Bank of Russia dated June 28, 2024 No. 6795 ”.8 The draft Bank of Russia instructions“ On Amending the Bank of Russia dated September 27, 2022 No. 6267-U. ”9 Draft of the Bank of Russia instructions “On the procedure and the terms for the procedure and submission to the Bank of the reports of investment operators platforms, reporting of financial platforms operators, information systems operators in which digital financial assets are issued, digital financial assets exchange operators, reports of investment platform operators and the composition of the information included in them, financial platform operators, as well as the procedure for reporters of investment platforms, financial platform operators, and information operators. systems in which digital financial assets are issued, information exchange operators to the Bank of Russia information about persons who are entrusted with identification, simplified identification, updating information about customers, customer representatives, beneficiaries and beneficial owners .10 Project of the Bank of Russia “On the form, Preject of drawing up, terms and procedure for submitting to the Bank of Russia Bank reports of operators for receiving payments, on the procedure for the report of the Bank of Russia, information about persons who are entering the receipt of identification, updating information about clients, customer representatives, beneficiaries and beneficial owners .11 Bank of Russia indication dated 10.06.2024 No. 6744-U “On the content, forms, procedure and terms for compiling and submission to the Bank of Russia in the Bank of Russia Reporting of a self-regulatory organization in the field of the financial market. ”12 Bank of Russia indication dated 06.28.2024 No. 6789-U “On the forms, terms and procedure for drawing up and submission to the Bank of Russia reports on transactions with cash funds of individual non-credit financial organizations. ”13 Bank of Russia indication dated 20.07.2020 No. 5510-U“ On the Procedure and Dates for submission to the Russian Banking Bank Consolidated financial statements by organizations specified in paragraphs 2-5 of part 1 of Article 2 of the Federal Law of July 27, 2010 No. 208-ФЗ “On Consolidated Financial Reporting”.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Dmitry Grigorenko: Novosibirsk AI developments have potential for federal replication

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – Government of the Russian Federation –

    An important disclaimer is at the bottom of this article.

    During his working visit, Deputy Prime Minister – Chief of the Government Staff Dmitry Grigorenko got acquainted with the results of the implementation of artificial intelligence in various sectors of the economy, social life and public administration in the Novosibirsk Region. As the Deputy Prime Minister noted, local developments using artificial intelligence have a high potential for replication across the country.

    Dmitry Grigorenko visited the Research Center for Artificial Intelligence of the Novosibirsk National Research State University, as well as the technopark of the Novosibirsk Akademgorodok, where IT companies are working on the creation and implementation of promising AI solutions. The Deputy Prime Minister – Head of the Government Staff noted that Novosibirsk is one of the centers for the development of information technology and artificial intelligence.

    “Our goal is to develop high-quality AI solutions and implement them on a large scale. This is only possible if AI development brings tangible results and real benefits. Novosibirsk has created decent conditions for the development of artificial intelligence. It has a strong scientific base and a progressive startup community. Thanks to this, the development of artificial intelligence here is parallel to the implementation, and not in isolation from it. It is important that the region itself is interested in using its AI developments and implements them in local educational institutions, enterprises and even in the work of government agencies,” said Dmitry Grigorenko.

    One of the most important areas of implementation of artificial intelligence is public administration. In the Novosibirsk region, AI assistants are being implemented, which allow optimizing the work of civil servants. Thus, an AI expert in customer centricity helps process citizens’ requests and prepare the most understandable and clear answers, an AI assistant in the electronic document management system – quickly find the necessary information, and an AI stenographer – generate meeting minutes. Services have already begun to be implemented in the work of regional and municipal authorities.

    In addition, the region has implemented the Safe City video analytics system, which helps monitor public order and search for offenders. More than 2.6 thousand criminals were detained with the help of the system. Novosibirsk specialists also created and implemented an AI service for searching for missing children using city video cameras. In less than two months of the service’s operation, six children were found with its help.

    Since 2025, the Novosibirsk Region has been actively introducing AI technologies into healthcare: AI is used to interpret X-ray and CT scan data. Since the beginning of the year, the system has processed over 361 thousand images. AI is used as an assistant for analyzing medical data, but the final diagnosis remains with the specialist. In addition, Novosibirsk doctors use voice input technology based on a neural network. It reduces the likelihood of errors in medical documentation. Today, the technology has been implemented in 71 medical institutions in the region.

    “The use of artificial intelligence is justified for specific tasks. We try to monitor all developments, but when we approach the stage of large-scale implementation, we look at the expected result – improved quality of services, fundamentally new services for our citizens or a reduction in our labor costs. If we see successful developments, we try to quickly repeat them, but at the same time we can develop our own solutions. As examples, I can cite the analysis of X-ray and computed tomography data, the Safe City video analytics system. In the field of voice analytics and speech generation, this is the well-known robot Nikolai, a voice keyboard for doctors, intelligent assistants for civil servants. All these solutions both improve the quality of services for citizens and seriously reduce labor costs for our colleagues,” said Andrey Travnikov, Governor of the Novosibirsk Region.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Dmitry Grigorenko: The goal of digitalization of public administration is the comfort of citizens

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – Government of the Russian Federation –

    An important disclaimer is at the bottom of this article.

    As part of a working visit to the Novosibirsk Region, Deputy Prime Minister – Chief of the Government Staff Dmitry Grigorenko familiarized himself with digital solutions for public administration that have already been implemented in the region.

    Novosibirsk Oblast is one of the top ten regions in the digital transformation rating and is actively implementing technologies in various areas. The region is connected to the digital system “governor’s dashboard”. This is one of the technological solutions of the Russian Government, designed for public administration based on data. The dashboard reflects the key areas of the region’s work and performance indicators, the status of the execution of instructions, federal and regional budgets, construction plans and other tasks. Such systems have already been implemented at the federal level. They have proven their effectiveness and are now being extended to the regions (43 regions are currently connected to the “governor’s dashboard”).

    “The ultimate goal of digitalization of public administration is always the comfort of citizens. Thanks to digital platforms and services, citizens receive government services faster and can promptly, without unnecessary paperwork, leave feedback. In addition, “digital” helps officials work more efficiently. For example, to respond faster to citizens’ requests, analyze what worries people most, and make informed decisions based on objective data,” said Dmitry Grigorenko.

    The region is also developing digital services for citizens and implementing a customer-centric approach. The region has a system called the Novosibirsk Region Resident Card, which is a digital citizen identifier for receiving various goods or services, such as discounted travel on public transport or baby food. The system proactively notifies citizens about available benefits and services. A linked Mir bank card or a QR code in a personal account can serve as confirmation of benefits in various institutions or transport. The Resident Card can also be presented to receive discounted medicines, purchase discounted tickets to cultural institutions, and the card can serve as a library card or a pass to educational institutions. Currently, the system has 18 different services, and almost 40 thousand residents of the region are registered.

    The region has also implemented a digital project that has no analogues in other regions – signing contracts with kindergartens in electronic form through the Gosklyuch application. The service was implemented within the framework of the regional life situation “Preschooler”. Within its framework, the process of registering a child in a kindergarten was digitized: from filing an application (now 91% of applications for joining the queue are submitted through the state services portal) to signing an agreement with the kindergarten remotely. Since the launch, more than 4 thousand contracts have already been successfully signed electronically.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI USA: RELEASE: REP. HILL VOTES TO STRENGTHEN AMERICA’S NATIONAL SECURITY

    Source: United States House of Representatives – Congressman French Hill (AR-02)

    Rep. French Hill (AR-02) today voted in favor of H.R. 4016, the Department of Defense Appropriations Act, 2026, which passed the House by a vote of 221-209. The bill strengthens America’s national security, bolsters military readiness, and delivers for Arkansas’s servicemembers and their families.

    Rep. Hill said, “With aggression from foreign adversaries like China and Russia continuing, and a security environment that is increasingly dynamic and complex, it is critical for America’s military to have the capabilities necessary to confront emerging threats and challenges. This defense appropriations bill strengthens our military readiness and invests in the advanced technology and equipment our servicemembers need to protect the nation. I will always prioritize America’s security and stand firmly with the brave men and women who serve and defend our freedoms.

    “I am also proud that this bill delivers for our servicemembers here in central Arkansas, including funding for the C-130J Super Hercules, along with support for next-generation defense systems and precision strike capabilities. These investments are vital so that Camp Robinson and Little Rock Air Force Base can receive the tools and funding they need to be mission-ready.”

    Background:

    H.R. 4016, the Department of Defense Appropriations Act, 2026, provides $831.5 billion in discretionary funding for the Department of Defense and related agencies, matching FY25 enacted levels. It supports our servicemembers and their families by including a 3.8% pay raise. The bill invests in advanced aircraft and next-generation weapons systems, modernization of the nuclear triad, unmanned systems, missile defense, and innovation. It reinforces U.S.-Israel defense cooperation, enhances counterdrug efforts, and reaffirms a focus on military strength and mission readiness.

    During the House Appropriations process, Rep. Hill wrote in support of the following programs, which were included in H.R. 4016:

    • C-130J Super Hercules aircraft for the Air National Guard
    • Congressionally Directed Medical Research Programs (CDMRP) for Tuberous Sclerosis Complex Research Program
    • CDMRP for the Peer-Reviewed Neurotoxin Exposure Treatment Parkinson’s Research
    • CDMRP Amyotrophic Lateral Sclerosis (ALS) Research Program
    • CDMRP Peer-Reviewed Neurofibromatosis Research Program
    • CDMRP Prostate Cancer Research Program
    • CDMRP Peer-Reviewed Cancer Research Program
    • CDMRP Pancreatic Cancer Research Program
    • CDMRP Breast Cancer Research Program

    MIL OSI USA News –

  • MIL-OSI United Nations: World News in Brief: Houthi-Israel tensions, Sudan cholera cases rise, deadly attacks in Ukraine

    Source: United Nations 2

    These strikes occurred while the UN Mission to support the Hudaydah Agreement – established in 2018 to support the ceasefire between the Government of Yemen and the Houthis – was patrolling at locations to the northern parts of the Port. 

    The Secretary-General also expressed deep concern about the continuing missile and drone strikes conducted by the Houthis against Israel. 

    Risk of further escalation

    Concerned about the risk of further escalation, the UN recalled that international law, together with international humanitarian law, must be respected by all parties at all times, including the obligations to respect and protect civilian infrastructure. 

    “The Secretary-General remains profoundly concerned about the risk of further escalation in the region,” said Mr. Dujarric. 

    As the UN Chief reiterated his call for “all involved to cease all military actions and exercise maximum restraint,” he also renewed his call for the immediate and unconditional release of all UN and other personnel arbitrarily detained by the Houthi authorities. 

    Sudan: Crisis worsens as cholera and floods drive needs higher  

    The humanitarian crisis in Sudan continues to deepen as cholera spreads, flooding displaces communities, and thousands of people return to areas with little to no support, according to the UN Office for the Coordination of Humanitarian Affairs (OCHA).

    In the locality of Tawiola, in North Darfur State, over 1,300 confirmed cases of cholera in just one week were reported on Sunday by an association of Sudanese doctors. 

    While local and international partners have set up cholera treatment centres, the current capacity is far from sufficient to cope with the rising caseload.  

    As Tawila hosts several hundred thousand displaced people, partners on the ground have been struggling to keep pace with the growing needs, notably as such needs are set to increase as the upcoming rainy season sets in. 

    Vulnerable returnees 

    Across Sudan, people returning to their communities face serious challenges, including the lack of essential services and the threat posed by explosive remnants of war. 

    In White Nile State, some residents have begun returning after being displaced for a year. Yet, an assessment by OCHA and its partners last week found that health, water, sanitation and hygiene support is urgently needed, even more so ahead of the rainy season.

    Similarly, in eastern Sudan, OCHA warns that many families returning to Kassala State are struggling to cope with the impact of heavy rains and flooding, as heavy rains destroyed more than 280 homes in the village of Tirik earlier in July. 

    Additionally, as insecurity continues to impede the work of humanitarians, challenges faced by returnee families often lead them to return to displacement sites, undermining the sustainability of return efforts. 

    In this context, OCHA called for increased international support to meet soaring needs across Sudan. 

    Ukraine: At least 20 civilians reportedly killed in recent attacks  

    In Ukraine, attacks over the weekend and into Monday reportedly killed over 20 civilians and injured more than 100 others, including several children, according to authorities.

    The strikes affected the capital Kyiv, as well as western and front-line regions, damaging homes, schools, and a health facility.

    In Kyiv, a kindergarten, metro stations, shops and residential buildings were hit. 

    The Ivano-Frakivsk region in western Ukraine which hosts many displaced people and had previously been less affected by hostilities, suffered the largest attack since the full-scale Russian invasion in February 2022.  

    Frontline regions  

    Meanwhile, in areas near the frontlines in the Donetsk, Dnipro and Kherson regions, hostilities caused civilian casualties and further damage to schools, a health facility, and apartment buildings. Odesa, Kharkiv, Sumy and other regions also reported that homes and shops were destroyed.  

    With support from UN agencies, and coordinating with local authorities and first respondents, humanitarian organizations on the ground continue to provide shelter materials, non-food items, legal aid, psychosocial support and assistance for children across the country.  

    MIL OSI United Nations News –

  • MIL-OSI: RBB Bancorp Reports Second Quarter 2025 Earnings and Declares Quarterly Cash Dividend of $0.16 Per Common Share

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, July 21, 2025 (GLOBE NEWSWIRE) — RBB Bancorp (NASDAQ:RBB) and its subsidiaries, Royal Business Bank (the “Bank”) and RBB Asset Management Company (“RAM”), collectively referred to herein as the “Company,” announced financial results for the quarter ended June 30, 2025.

    Second Quarter 2025 Highlights

    • Net income totaled $9.3 million, or $0.52 diluted earnings per share
    • Return on average assets of 0.93%, compared to 0.24% for the quarter ended March 31, 2025
    • Net interest margin expanded to 2.92%, up from 2.88% for the quarter ended March 31, 2025
    • Net loans held for investment growth of $91.6 million, or 12% annualized
    • Nonperforming assets decreased $3.6 million, or 5.5%, to $61.0 million at June 30, 2025, down from $64.6 million at March 31, 2025
    • Book value and tangible book value per share(1) increased to $29.25 and $25.11 at June 30, 2025, up from $28.77 and $24.63 at March 31, 2025

    The Company reported net income of $9.3 million, or $0.52 diluted earnings per share, for the quarter ended June 30, 2025, compared to net income of $2.3 million, or $0.13 diluted earnings per share, for the quarter ended March 31, 2025. Net income for the second quarter of 2025 included income from an Employee Retention Credit (“ERC”) of $5.2 million (pre-tax), which was included in other income, offset partially by professional and advisory costs associated with filing and determining eligibility for the ERC totaling $1.2 million (pre-tax).

    “Another quarter of strong loan growth and stable loan yields drove increasing net interest income and margin expansion in the second quarter,” said Johnny Lee, President and Chief Executive Officer of RBB Bancorp. “We also benefited from the receipt of a $5.2 million ERC in the second quarter. We continue to work through our nonperforming assets and remain focused on resolving our nonperforming loans as quickly as possible while minimizing the impact to earnings and capital.”

    (1 ) Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures included at the end of this press release.
         

    Net Interest Income and Net Interest Margin

    Net interest income was $27.3 million for the second quarter of 2025, compared to $26.2 million for the first quarter of 2025. The $1.2 million increase was due to a $1.9 million increase in interest income, offset by a $698,000 increase in interest expense. The increase in interest income was mostly due to a $2.1 million increase in interest and fees on loans. The increase in interest expense was due to a $433,000 increase in interest on borrowings and a $265,000 increase in interest on deposits.

    The net interest margin (“NIM”) was 2.92% for the second quarter of 2025, an increase of 4 basis points from 2.88% for the first quarter of 2025. The NIM expansion was due to a 3 basis point increase in the yield on average interest-earning assets, combined with a 1 basis point decrease in the overall cost of funds. The yield on average interest-earning assets increased to 5.79% for the second quarter of 2025 from 5.76% for the first quarter of 2025 due mainly to a 2 basis point increase in the yield on average loans to 6.03%. Average loans represented 85% of average interest-earning assets in the second quarter of 2025, as compared to 84% in the first quarter of 2025.

    The average cost of funds decreased to 3.14% for the second quarter of 2025 from 3.15% for the first quarter of 2025, driven by an 11 basis point decrease in the average cost of interest-bearing deposits, partially offset by a 75 basis point increase in the average cost of total borrowings. The average cost of interest-bearing deposits decreased to 3.66% for the second quarter of 2025 from 3.77% for the first quarter of 2025. The overall funding mix for the second quarter of 2025 remained relatively unchanged from the first quarter of 2025 with total deposits representing 90% of interest bearing liabilities and average noninterest-bearing deposits representing 17% of average total deposits. The average cost of borrowings increased as $150 million in long term FHLB advances matured during the first quarter of 2025, the majority of which were replaced and repriced at current market rates. The all-in average spot rate for total deposits was 2.95% at June 30, 2025.

    Provision for Credit Losses

    The provision for credit losses was $2.4 million for the second quarter of 2025 compared to $6.7 million for the first quarter of 2025. The second quarter of 2025 provision for credit losses reflected an increase in general reserves of $1.5 million due mainly to net loan growth, and an increase in a specific reserve of $924,000 related to one lending relationship. The second quarter provision also took into consideration factors such as changes in the outlook for economic conditions and market interest rates, and changes in credit quality metrics, including changes in loans 30-89 days past due, nonperforming loans, special mention and substandard loans during the period. Net charge-offs of $3.3 million in the second quarter related to loans which had these specific reserves at March 31, 2025. Net charge-offs on an annualized basis represented 0.42% of average loans for the second quarter of 2025 compared to 0.35% for the first quarter of 2025.

    Noninterest Income

    Noninterest income for the second quarter of 2025 was $8.5 million, an increase of $6.2 million from $2.3 million for the first quarter of 2025. The second quarter of 2025 included other income of $5.2 million for the receipt of ERC funds from the IRS. The ERC was a grant program established under the Coronavirus Aid, Relief, and Economic Security Act in response to the COVID-19 pandemic and these funds relate to qualifying amended payroll tax returns the Company filed for the first and second quarters of 2021.

    Upon receipt of the ERC funds, certain professional and tax advisory costs associated with the assessment and compilation of the ERC refunds became due and payable. These amounts totaled $1.2 million and are included in legal and professional expense in our consolidated statements of income for the second quarter of 2025. There were no such ERC amounts received or associated costs recognized during the first quarter of 2025 or the quarter ended June 30, 2024.

    The second quarter of 2025 also included a higher gain on sale of loans of $277,000 and recoveries associated with a fully-charged off loan acquired in a bank acquisition of $350,000, the latter included in “other income.”

    Noninterest Expense

    Noninterest expense for the second quarter of 2025 was $20.5 million, an increase of $2.0 million from $18.5 million for the first quarter of 2025. This increase was mostly due to higher legal and professional expense of $1.4 million, of which $1.2 million was attributed to the aforementioned ERC advisory costs, and a $437,000 increase in salaries and employee benefits expenses. The increase in compensation includes higher incentives related to sustained production levels, the impact of annual pay increases, and approximately $330,000 in costs related to executive management transitions, offset by lower payroll taxes. The efficiency ratio was 57.2% for the second quarter of 2025, down from 65.1% for the first quarter of 2025 due mostly to higher noninterest income related to the ERC, partially offset by higher noninterest expense related to the ERC advisory costs.

    Income Taxes

    The effective tax rate was 27.8% for the second quarter of 2025 and 28.2% for the first quarter of 2025. 

    Balance Sheet

    At June 30, 2025, total assets were $4.1 billion, an $80.6 million increase compared to March 31, 2025, and a $221.9 million increase compared to June 30, 2024.

    Loan and Securities Portfolio

    Loans held for investment (“HFI”) totaled $3.2 billion as of June 30, 2025, an increase of $91.6 million, or 12% annualized, compared to March 31, 2025 and an increase of $187.0 million, or 6.1%, compared to June 30, 2024. The second quarter of 2025 net loan growth included $182.8 million in new production with an average yield of 6.76%. The increase from March 31, 2025 was primarily due to a $57.3 million increase in single-family residential (“SFR”) mortgage loans, a $28.0 million increase in commercial real estate (“CRE”) loans, a $5.3 million increase in Small Business Administration (“SBA”) loans and a $2.7 million increase in commercial and industrial (“C&I”) loans. The loan to deposit ratio was 101.5% at June 30, 2025, compared to 100.0% at March 31, 2025 and 100.9% at June 30, 2024. 

    As of June 30, 2025, available for sale securities (“AFS”) totaled $413.1 million, an increase of $35.0 million from March 31, 2025, primarily related to purchases of $68.0 million, offset by maturities and amortization of $33.0 million during the second quarter of 2025. As of June 30, 2025, net unrealized losses totaled $23.1 million, a $1.9 million decrease, when compared to net unrealized losses of $25.0 million as of March 31, 2025.

    Deposits

    Total deposits were $3.2 billion as of June 30, 2025, an increase of $45.6 million, or 5.8% annualized, compared to March 31, 2025 and an increase of $164.6 million, or 5.4%, compared to June 30, 2024. The increase during the second quarter of 2025 was due to a $29.9 million increase in interest-bearing deposits coupled with a $15.7 million increase in noninterest-bearing deposits. The increase in interest-bearing deposits included increases in time deposits of $59.5 million, offset by decreases in interest-bearing non-maturity deposits of $29.5 million. Wholesale deposits totaled $183.8 million at June 30, 2025, an increase of $25.3 million compared to $158.5 million at March 31, 2025. Noninterest-bearing deposits totaled $543.9 million and represented 17.1% of total deposits at June 30, 2025 compared to $528.2 million and 16.8% at March 31, 2025.

    Credit Quality

    Nonperforming assets totaled $61.0 million, or 1.49% of total assets, at June 30, 2025, down from $64.6 million, or 1.61% of total assets, at March 31, 2025. The $3.6 million decrease in nonperforming assets was due to $3.3 million in net charge-offs and $1.7 million in payoffs and paydowns, partially offset by $1.4 million in additions from loans migrating to nonaccrual status in the second quarter of 2025. Nonperforming assets included one $4.2 million other real estate owned (included in “accrued interest and other assets”) at June 30, 2025 and March 31, 2025.

    Special mention loans totaled $91.3 million, or 2.82% of total loans, at June 30, 2025, up from $64.3 million, or 2.05% of total loans, at March 31, 2025. The $27.0 million increase was primarily due to the addition of loans totaling $30.1 million and $1.6 million in balance increases, partially offset by the downgrade of two CRE loans totaling $4.0 million to substandard-rated loans and payoffs and paydowns totaling $660,000. As of June 30, 2025, all special mention loans were paying current.

    Substandard loans totaled $91.0 million at June 30, 2025, up from $76.4 million at March 31, 2025. The $14.6 million increase was primarily due to the downgrades totaling $20.6 million, partially offset by net charge-offs totaling $3.3 million and payoffs and paydowns totaling $2.7 million. Of the total substandard loans at June 30, 2025, there were $34.2 million on accrual status.

    30-89 day delinquent loans, excluding nonperforming loans, totaled $18.0 million, or 0.56% of total loans, at June 30, 2025, up from $5.9 million, or 0.19% of total loans, at March 31, 2025. The $12.1 million increase was mostly due to $15.5 million in new delinquent loans, offset by $2.2 million in loans returning to current status, $798,000 in loans migrating to nonaccrual status, and $427,000 in paydowns and payoffs. The additions include an $8.5 million CRE loan that has since been brought current.

    As of June 30, 2025, the allowance for credit losses totaled $51.6 million and was comprised of an allowance for loan losses of $51.0 million and a reserve for unfunded commitments of $629,000 (included in “accrued interest and other liabilities”). This compares to the allowance for credit losses of $52.6 million, comprised of an allowance for loan losses of $51.9 million and a reserve for unfunded commitments of $629,000 at March 31, 2025. The $918,000 decrease in the allowance for credit losses for the second quarter of 2025 was due to net charge-offs of $3.3 million, offset by a $2.4 million provision for credit losses. The allowance for loan losses as a percentage of loans HFI decreased to 1.58% at June 30, 2025, compared to 1.65% at March 31, 2025, due mainly to net charge-offs of amounts included in specific reserves at March 31, 2025. The allowance for loan losses as a percentage of nonperforming loans HFI was 90% at June 30, 2025, an increase from 86% at March 31, 2025. 

      For the Three Months Ended June 30, 2025     For the Six Months Ended June 30, 2025  
    (dollars in thousands) Allowance
    for
    loan losses    		     Reserve for
    unfunded
    loan commitments    		     Allowance
    for
    credit losses    		     Allowance
    for loan
    losses    		     Reserve for
    unfunded
    loan
    commitments    		     Allowance
    for credit
    losses    		  
    Beginning balance $ 51,932     $ 629     $ 52,561     $ 47,729     $ 729     $ 48,458  
    Provision for (reversal of) credit losses   2,387       —       2,387       9,233       (100 )     9,133  
    Less loans charged-off   (3,339 )     —       (3,339 )     (6,065 )     —       (6,065 )
    Recoveries on loans charged-off   34       —       34       117       —       117  
    Ending balance $ 51,014     $ 629     $ 51,643     $ 51,014     $ 629     $ 51,643  
     

    Shareholders’ Equity

    At June 30, 2025, total shareholders’ equity was $517.7 million, a $7.3 million increase compared to March 31, 2025, and a $6.4 million increase compared to June 30, 2024. The increase in shareholders’ equity for the second quarter of 2025 was due to net income of $9.3 million, lower net unrealized losses on AFS securities of $1.3 million and equity compensation activity of $1.1 million, offset by common stock cash dividends paid totaling $2.9 million and common stock repurchases totaling $1.5 million. The increase in shareholders’ equity for the last twelve months was due to net income of $23.0 million, lower net unrealized losses on AFS securities of $4.9 million, and equity compensation activity of $2.5 million, offset by common stock repurchases totaling $12.5 million and common stock cash dividends paid totaling $11.5 million. Book value per share and tangible book value per share(1) increased to $29.25 and $25.11 at June 30, 2025, up from $28.77 and $24.63 at March 31, 2025 and up from $28.12 and $24.06 at June 30, 2024.

    Dividend Announcement

    The Board of Directors has declared a quarterly cash dividend of $0.16 per common share. The dividend is payable on August 12, 2025 to shareholders of record on July 31, 2025.

    (1 ) Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures included at the end of this press release.
         

    Corporate Overview

    RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California. As of June 30, 2025, the Company had total assets of $4.1 billion. Its wholly-owned subsidiary, Royal Business Bank, is a full service commercial bank, which provides consumer and business banking services predominately to the Asian-centric communities in Los Angeles County, Orange County, and Ventura County in California, in Las Vegas, Nevada, in Brooklyn, Queens, and Manhattan in New York, in Edison, New Jersey, in the Chicago neighborhoods of Chinatown and Bridgeport, Illinois, and on Oahu, Hawaii. Bank services include remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, 1-4 single family residential loans, trade finance, a full range of depository account products and wealth management services. The Bank has nine branches in Los Angeles County, two branches in Ventura County, one branch in Orange County, California, one branch in Las Vegas, Nevada, three branches and one loan operation center in Brooklyn, three branches in Queens, one branch in Manhattan in New York, one branch in Edison, New Jersey, two branches in Chicago, Illinois, and one branch in Honolulu, Hawaii. The Company’s administrative and lending center is located at 1055 Wilshire Blvd., Los Angeles, California 90017, and its operations center is located at 7025 Orangethorpe Ave., Buena Park, California 90621. The Company’s website address is www.royalbusinessbankusa.com.

    Conference Call

    Management will hold a conference call at 11:00 a.m. Pacific time/2:00 p.m. Eastern time on Tuesday, July 22, 2025, to discuss the Company’s second quarter 2025 financial results.

    To listen to the conference call, please dial 1-888-506-0062 or 1-973-528-0011, the Participant ID code is 710803, conference ID RBBQ225. A replay of the call will be made available at 1-877-481-4010 or 1-919-882-2331, the passcode is 52690, approximately one hour after the conclusion of the call and will remain available through August 05, 2025.

    The conference call will also be simultaneously webcast over the Internet; please visit our Royal Business Bank website at www.royalbusinessbankusa.com and click on the “Investors” tab to access the call from the site. This webcast will be recorded and available for replay on our website approximately two hours after the conclusion of the conference call.

    Disclosure

    This press release contains certain non-GAAP financial disclosures for tangible common equity and tangible assets and adjusted earnings. The Company uses certain non-GAAP financial measures to provide meaningful supplemental information regarding the Company’s operational performance and to enhance investors’ overall understanding of such financial performance. Please refer to the tables at the end of this release for a presentation of performance ratios in accordance with GAAP and a reconciliation of the non-GAAP financial measures to the GAAP financial measures.

    Safe Harbor

    Certain matters set forth herein (including the exhibits hereto) constitute forward-looking statements relating to the Company’s current business plans and expectations and our future financial position and operating results. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, the effectiveness of the Company’s internal control over financial reporting and disclosure controls and procedures; the potential for additional material weaknesses in the Company’s internal controls over financial reporting or other potential control deficiencies of which the Company is not currently aware or which have not been detected; business and economic conditions generally and in the financial services industry, nationally and within our current and future geographic markets, including the tight labor market, ineffective management of the United States (“U.S.”) federal budget or debt or turbulence or uncertainly in domestic or foreign financial markets; the strength of the U.S. economy in general and the strength of the local economies in which we conduct operations; adverse developments in the banking industry highlighted by high-profile bank failures and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments; possible additional provisions for credit losses and charge-offs; credit risks of lending activities and deterioration in asset or credit quality; extensive laws and regulations and supervision that we are subject to, including potential supervisory action by bank supervisory authorities; compliance with the Bank Secrecy Act and other money laundering statutes and regulations; potential goodwill impairment; liquidity risk; failure to comply with debt covenants; fluctuations in interest rates; risks associated with acquisitions and the expansion of our business into new markets; inflation and deflation; real estate market conditions and the value of real estate collateral; the effects of having concentrations in our loan portfolio, including commercial real estate and the risks of geographic and industry concentrations; environmental liabilities; our ability to compete with larger competitors; our ability to retain key personnel; successful management of reputational risk; severe weather, natural disasters, earthquakes, fires, including direct and indirect costs and impacts on clients, the Company and its employees from the January 2025 Los Angeles County wildfires; or other adverse external events could harm our business; geopolitical conditions, including acts or threats of terrorism, actions taken by the U.S. or other governments in response to acts or threats of terrorism and/or military conflicts, including the conflicts between Russia and Ukraine, in the Middle East, and increasing tensions between China and Taiwan, which could impact business and economic conditions in the U.S. and abroad; tariffs, trade policies, and related tensions, which could impact our clients, specific industry sectors, and/or broader economic conditions and financial market; public health crises and pandemics, and their effects on the economic and business environments in which we operate, including our credit quality and business operations, as well as the impact on general economic and financial market conditions; general economic or business conditions in Asia, and other regions where the Bank has operations; failures, interruptions, or security breaches of our information systems; climate change, including any enhanced regulatory, compliance, credit and reputational risks and costs; cybersecurity threats and the cost of defending against them; our ability to adapt our systems to the expanding use of technology in banking; risk management processes and strategies; adverse results in legal proceedings; the impact of regulatory enforcement actions, if any; certain provisions in our charter and bylaws that may affect acquisition of the Company; changes in tax laws and regulations; the impact of governmental efforts to restructure the U.S. financial regulatory system and increased costs of compliance and other risks associated with changes in regulation, including any amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act; the impact of changes in the Federal Deposit Insurance Corporation (“FDIC”) insurance assessment rate and the rules and regulations related to the calculation of the FDIC insurance assessments; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the SEC, the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters; fluctuations in the Company’s stock price; restrictions on dividends and other distributions by laws and regulations and by our regulators and our capital structure; our ability to raise additional capital, if needed, and the potential resulting dilution of interests of holders of our common stock; the soundness of other financial institutions; our ongoing relations with our various federal and state regulators, including the SEC, FDIC, FRB and California Department of Financial Protection and Innovation; our success at managing the risks involved in the foregoing items and all other factors set forth in the Company’s public reports, including its Annual Report as filed under Form 10-K for the year ended December 31, 2024, and particularly the discussion of risk factors within that document. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company’s earnings or shareholders, are for illustrative purposes only, are not forecasts, and actual results may differ.

    RBB BANCORP AND SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Unaudited)
    (Dollars in thousands)
     
      June 30,     March 31,     December 31,     September 30,     June 30,  
      2025     2025     2024     2024     2024  
    Assets                                      
    Cash and due from banks $ 27,338     $ 25,315     $ 27,747     $ 26,388     $ 23,313  
    Interest-earning deposits with financial institutions   164,514       213,508       229,998       323,002       229,456  
    Cash and cash equivalents   191,852       238,823       257,745       349,390       252,769  
    Interest-earning time deposits with financial institutions   600       600       600       600       600  
    Investment securities available for sale   413,142       378,188       420,190       305,666       325,582  
    Investment securities held to maturity   4,186       5,188       5,191       5,195       5,200  
    Loans held for sale   –       655       11,250       812       3,146  
    Loans held for investment   3,234,695       3,143,063       3,053,230       3,091,896       3,047,712  
    Allowance for loan losses   (51,014 )     (51,932 )     (47,729 )     (43,685 )     (41,741 )
    Net loans held for investment   3,183,681       3,091,131       3,005,501       3,048,211       3,005,971  
    Premises and equipment, net   23,945       24,308       24,601       24,839       25,049  
    Federal Home Loan Bank (FHLB) stock   15,000       15,000       15,000       15,000       15,000  
    Cash surrender value of bank owned life insurance   61,111       60,699       60,296       59,889       59,486  
    Goodwill   71,498       71,498       71,498       71,498       71,498  
    Servicing assets   6,482       6,766       6,985       7,256       7,545  
    Core deposit intangibles   1,667       1,839       2,011       2,194       2,394  
    Right-of-use assets   25,554       26,779       28,048       29,283       30,530  
    Accrued interest and other assets   91,322       87,926       83,561       70,644       63,416  
    Total assets $ 4,090,040     $ 4,009,400     $ 3,992,477     $ 3,990,477     $ 3,868,186  
    Liabilities and shareholders’ equity                                      
    Deposits:                                      
    Noninterest-bearing demand $ 543,885     $ 528,205     $ 563,012     $ 543,623     $ 542,971  
    Savings, NOW and money market accounts   691,679       721,216       663,034       666,089       647,770  
    Time deposits, $250,000 and under   1,010,674       1,000,106       1,007,452       1,052,462       1,014,189  
    Time deposits, greater than $250,000   941,993       893,101       850,291       830,010       818,675  
    Total deposits   3,188,231       3,142,628       3,083,789       3,092,184       3,023,605  
    FHLB advances   180,000       160,000       200,000       200,000       150,000  
    Long-term debt, net of issuance costs   119,720       119,624       119,529       119,433       119,338  
    Subordinated debentures   15,265       15,211       15,156       15,102       15,047  
    Lease liabilities – operating leases   27,294       28,483       29,705       30,880       32,087  
    Accrued interest and other liabilities   41,877       33,148       36,421       23,150       16,818  
    Total liabilities   3,572,387       3,499,094       3,484,600       3,480,749       3,356,895  
    Shareholders’ equity:                                      
    Common stock   259,863       260,284       259,957       259,280       266,160  
    Additional paid-in capital   3,579       3,360       3,645       3,520       3,456  
    Retained earnings   270,152       263,885       264,460       262,946       262,518  
    Non-controlling interest   72       72       72       72       72  
    Accumulated other comprehensive loss, net   (16,013 )     (17,295 )     (20,257 )     (16,090 )     (20,915 )
    Total shareholders’ equity   517,653       510,306       507,877       509,728       511,291  
    Total liabilities and shareholders’ equity $ 4,090,040     $ 4,009,400     $ 3,992,477     $ 3,990,477     $ 3,868,186  
    RBB BANCORP AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
    (In thousands, except share and per share data)
     
      For the Three Months Ended     For the Six Months Ended  
      June 30,
    2025    		     March 31,
    2025    		     June 30,
    2024    		     June 30,
    2025    		     June 30,
    2024    		  
    Interest and dividend income:                                      
    Interest and fees on loans $ 47,687     $ 45,621     $ 45,320     $ 93,308     $ 90,867  
    Interest on interest-earning deposits   1,750       2,014       3,353       3,764       8,393  
    Interest on investment securities   4,213       4,136       3,631       8,349       7,242  
    Dividend income on FHLB stock   324       330       327       654       658  
    Interest on federal funds sold and other   231       235       255       466       521  
    Total interest and dividend income   54,205       52,336       52,886       106,541       107,681  
    Interest expense:                                      
    Interest on savings deposits, NOW and money market accounts   4,567       4,468       4,953       9,035       9,431  
    Interest on time deposits   19,250       19,084       21,850       38,334       45,172  
    Interest on long-term debt and subordinated debentures   1,634       1,632       1,679       3,266       3,358  
    Interest on FHLB advances   1,420       989       439       2,409       878  
    Total interest expense   26,871       26,173       28,921       53,044       58,839  
    Net interest income before provision for credit losses   27,334       26,163       23,965       53,497       48,842  
    Provision for credit losses   2,387       6,746       557       9,133       557  
    Net interest income after provision for credit losses   24,947       19,417       23,408       44,364       48,285  
    Noninterest income:                                      
    Service charges and fees   1,060       1,017       1,064       2,077       2,056  
    Gain on sale of loans   358       81       451       439       763  
    Loan servicing fees, net of amortization   541       588       579       1,129       1,168  
    Increase in cash surrender value of life insurance   411       403       385       814       767  
    Gain on OREO   —       —       292       —       1,016  
    Other income   6,108       206       717       6,314       1,090  
    Total noninterest income   8,478       2,295       3,488       10,773       6,860  
    Noninterest expense:                                      
    Salaries and employee benefits   11,080       10,643       9,533       21,723       19,460  
    Occupancy and equipment expenses   2,377       2,407       2,439       4,784       4,882  
    Data processing   1,713       1,602       1,466       3,315       2,886  
    Legal and professional   2,904       1,515       1,260       4,419       2,140  
    Office expenses   405       408       352       813       708  
    Marketing and business promotion   212       197       189       409       361  
    Insurance and regulatory assessments   709       730       981       1,439       1,963  
    Core deposit premium   172       172       201       344       402  
    Other expenses   921       848       703       1,769       1,291  
    Total noninterest expense   20,493       18,522       17,124       39,015       34,093  
    Income before income taxes   12,932       3,190       9,772       16,122       21,052  
    Income tax expense   3,599       900       2,527       4,499       5,771  
    Net income $ 9,333     $ 2,290     $ 7,245     $ 11,623     $ 15,281  
                                           
    Net income per share                                      
    Basic $ 0.53     $ 0.13     $ 0.39     $ 0.66     $ 0.83  
    Diluted $ 0.52     $ 0.13     $ 0.39     $ 0.65     $ 0.82  
    Cash dividends declared per common share $ 0.16     $ 0.16     $ 0.16     $ 0.32     $ 0.32  
    Weighted-average common shares outstanding                                      
    Basic   17,746,607       17,727,712       18,375,970       17,737,212       18,488,623  
    Diluted   17,797,735       17,770,588       18,406,897       17,784,237       18,529,299  
    RBB BANCORP AND SUBSIDIARIES
    AVERAGE BALANCE SHEET AND NET INTEREST INCOME
    (Unaudited)
     
      For the Three Months Ended  
      June 30, 2025     March 31, 2025     June 30, 2024  
      Average     Interest     Yield /     Average     Interest     Yield /     Average     Interest     Yield /  
    (tax-equivalent basis, dollars in thousands) Balance     & Fees     Rate     Balance     & Fees     Rate     Balance     & Fees     Rate  
    Interest-earning assets                                                                      
    Cash and cash equivalents(1) $ 163,838     $ 1,980       4.85 %   $ 194,236     $ 2,249       4.70 %   $ 255,973     $ 3,608       5.67 %
    FHLB Stock   15,000       324       8.66 %     15,000       330       8.92 %     15,000       327       8.77 %
    Securities                                                                      
    Available for sale(2)   399,414       4,189       4.21 %     390,178       4,113       4.28 %     318,240       3,608       4.56 %
    Held to maturity(2)   5,028       48       3.83 %     5,189       49       3.83 %     5,203       46       3.56 %
    Total loans(3)   3,171,570       47,687       6.03 %     3,079,224       45,621       6.01 %     3,017,050       45,320       6.04 %
    Total interest-earning assets   3,754,850     $ 54,228       5.79 %     3,683,827     $ 52,362       5.76 %     3,611,466     $ 52,909       5.89 %
    Total noninterest-earning assets   254,029                       260,508                       240,016                  
    Total average assets $ 4,008,879                     $ 3,944,335                     $ 3,851,482                  
                                                                           
    Interest-bearing liabilities                                                                      
    NOW $ 66,755       368       2.21 %   $ 61,222     $ 321       2.13 %   $ 56,081     $ 276       1.98 %
    Money market   482,669       3,774       3.14 %     463,443       3,625       3.17 %     431,559       3,877       3.61 %
    Saving deposits   141,411       425       1.21 %     155,116       522       1.36 %     164,913       800       1.95 %
    Time deposits, $250,000 and under   996,249       9,768       3.93 %     989,622       10,046       4.12 %     1,049,666       12,360       4.74 %
    Time deposits, greater than $250,000   922,540       9,482       4.12 %     864,804       9,038       4.24 %     772,255       9,490       4.94 %
    Total interest-bearing deposits   2,609,624       23,817       3.66 %     2,534,207       23,552       3.77 %     2,474,474       26,803       4.36 %
    FHLB advances   159,286       1,420       3.58 %     176,833       989       2.27 %     150,000       439       1.18 %
    Long-term debt   119,657       1,296       4.34 %     119,562       1,295       4.39 %     119,275       1,296       4.37 %
    Subordinated debentures   15,230       338       8.90 %     15,175       337       9.01 %     15,011       383       10.26 %
    Total interest-bearing liabilities   2,903,797       26,871       3.71 %     2,845,777       26,173       3.73 %     2,758,760       28,921       4.22 %
    Noninterest-bearing liabilities                                                                      
    Noninterest-bearing deposits   526,113                       520,145                       529,450                  
    Other noninterest-bearing liabilities   65,278                       66,151                       51,087                  
    Total noninterest-bearing liabilities   591,391                       586,296                       580,537                  
    Shareholders’ equity   513,691                       512,262                       512,185                  
    Total liabilities and shareholders’ equity $ 4,008,879                     $ 3,944,335                     $ 3,851,482                  
    Net interest income / interest rate spreads         $ 27,357       2.08 %           $ 26,189       2.03 %           $ 23,988       1.67 %
    Net interest margin                   2.92 %                     2.88 %                     2.67 %
                                                                           
    Total cost of deposits $ 3,135,737     $ 23,817       3.05 %   $ 3,054,352     $ 23,552       3.13 %   $ 3,003,924     $ 26,803       3.59 %
    Total cost of funds $ 3,429,910     $ 26,871       3.14 %   $ 3,365,922     $ 26,173       3.15 %   $ 3,288,210     $ 28,921       3.54 %

    ___________

    (1 ) Includes income and average balances for interest-earning time deposits and other miscellaneous interest-earning assets.
    (2 ) Interest income and average rates for tax-exempt securities are presented on a tax-equivalent basis.
    (3 ) Average loan balances relate to loans held for investment and loans held for sale and include nonaccrual loans. Interest income on loans includes the effects of discount accretion and net deferred loan origination fees and costs accounted for as yield adjustments.
    RBB BANCORP AND SUBSIDIARIES
    AVERAGE BALANCE SHEET AND NET INTEREST INCOME
    (Unaudited)
     
      Six Months Ended June 30,  
      2025     2024  
      Average     Interest     Yield /     Average     Interest     Yield /  
    (tax-equivalent basis, dollars in thousands) Balance     & Fees     Rate     Balance     & Fees     Rate  
    Interest-earning assets                                              
    Cash and cash equivalents(1) $ 178,953     $ 4,230       4.77 %   $ 310,476     $ 8,914       5.77 %
    FHLB Stock   15,000       654       8.79 %     15,000       658       8.82 %
    Securities                                              
    Available for sale(2)   394,822       8,302       4.24 %     319,127       7,197       4.54 %
    Held to maturity(2)   5,108       97       3.83 %     5,205       94       3.63 %
    Total loans(3)   3,125,652       93,308       6.02 %     3,017,737       90,867       6.06 %
    Total interest-earning assets   3,719,535     $ 106,591       5.78 %     3,667,545     $ 107,730       5.91 %
    Total noninterest-earning assets   257,250                       243,178                  
    Total average assets $ 3,976,785                     $ 3,910,723                  
                                                   
    Interest-bearing liabilities                                              
    NOW $ 64,004       689       2.17 %   $ 57,513     $ 574       2.01 %
    Money market   473,109       7,399       3.15 %     421,655       7,403       3.53 %
    Saving deposits   148,225       947       1.29 %     161,070       1,454       1.82 %
    Time deposits, $250,000 and under   992,954       19,815       4.02 %     1,112,735       26,165       4.73 %
    Time deposits, greater than $250,000   893,832       18,519       4.18 %     778,713       19,007       4.91 %
    Total interest-bearing deposits   2,572,124       47,369       3.71 %     2,531,686       54,603       4.34 %
    FHLB advances   168,011       2,409       2.89 %     150,000       878       1.18 %
    Long-term debt   119,610       2,591       4.37 %     119,228       2,591       4.37 %
    Subordinated debentures   15,203       675       8.95 %     14,984       767       10.29 %
    Total interest-bearing liabilities   2,874,948       53,044       3.72 %     2,815,898       58,839       4.20 %
    Noninterest-bearing liabilities                                              
    Noninterest-bearing deposits   523,145                       528,898                  
    Other noninterest-bearing liabilities   65,711                       53,441                  
    Total noninterest-bearing liabilities   588,856                       582,339                  
    Shareholders’ equity   512,981                       512,486                  
    Total liabilities and shareholders’ equity $ 3,976,785                     $ 3,910,723                  
    Net interest income / interest rate spreads         $ 53,547       2.06 %           $ 48,891       1.71 %
    Net interest margin                   2.90 %                     2.68 %
                                                   
    Total cost of deposits $ 3,095,269     $ 47,369       3.09 %   $ 3,060,584     $ 54,603       3.59 %
    Total cost of funds $ 3,398,093     $ 53,044       3.15 %   $ 3,344,796     $ 58,839       3.54 %

    ___________

    (1 ) Includes income and average balances for interest-earning time deposits and other miscellaneous interest-earning assets.
    (2 ) Interest income and average rates for tax-exempt securities are presented on a tax-equivalent basis.
    (3 ) Average loan balances relate to loans held for investment and loans held for sale and include nonaccrual loans. Interest income on loans includes the effects of discount accretion and net deferred loan origination fees and costs accounted for as yield adjustments.
    RBB BANCORP AND SUBSIDIARIES
    SELECTED FINANCIAL HIGHLIGHTS
    (Unaudited)
     
      At or for the Three Months Ended     At or for the Six Months Ended June 30,  
      June 30,     March 31,     June 30,                  
      2025     2025     2024     2025     2024  
    Per share data (common stock)                                      
    Book value $ 29.25     $ 28.77     $ 28.12     $ 29.25     $ 28.12  
    Tangible book value(1) $ 25.11     $ 24.63     $ 24.06     $ 25.11     $ 24.06  
    Performance ratios                                      
    Return on average assets, annualized   0.93 %     0.24 %     0.76 %     0.59 %     0.79 %
    Return on average shareholders’ equity, annualized   7.29 %     1.81 %     5.69 %     4.57 %     6.00 %
    Return on average tangible common equity, annualized(1)   8.50 %     2.12 %     6.65 %     5.33 %     7.01 %
    Noninterest income to average assets, annualized   0.85 %     0.24 %     0.36 %     0.55 %     0.35 %
    Noninterest expense to average assets, annualized   2.05 %     1.90 %     1.79 %     1.98 %     1.75 %
    Yield on average earning assets   5.79 %     5.76 %     5.89 %     5.78 %     5.91 %
    Yield on average loans   6.03 %     6.01 %     6.04 %     6.02 %     6.06 %
    Cost of average total deposits(2)   3.05 %     3.13 %     3.59 %     3.09 %     3.59 %
    Cost of average interest-bearing deposits   3.66 %     3.77 %     4.36 %     3.71 %     4.34 %
    Cost of average interest-bearing liabilities   3.71 %     3.73 %     4.22 %     3.72 %     4.20 %
    Net interest spread   2.08 %     2.03 %     1.67 %     2.06 %     1.71 %
    Net interest margin   2.92 %     2.88 %     2.67 %     2.90 %     2.68 %
    Efficiency ratio(3)   57.22 %     65.09 %     62.38 %     60.70 %     61.21 %
    Common stock dividend payout ratio   30.19 %     123.08 %     41.03 %     48.48 %     38.55 %

    ___________

    (1 ) Non-GAAP measure. See Non–GAAP reconciliations set forth at the end of this press release.
    (2 ) Total deposits include non-interest bearing deposits and interest-bearing deposits.
    (3 ) Ratio calculated by dividing noninterest expense by the sum of net interest income before provision for credit losses and noninterest income.
    RBB BANCORP AND SUBSIDIARIES
    SELECTED FINANCIAL HIGHLIGHTS
    (Unaudited)
    (Dollars in thousands)
     
      At or for the quarter ended  
      June 30,     March 31,     June 30,  
      2025     2025     2024  
    Credit Quality Data:                      
    Special mention loans $ 91,317     $ 64,279     $ 19,520  
    Special mention loans to total loans HFI   2.82 %     2.05 %     0.64 %
    Substandard loans $ 91,019     $ 76,372     $ 63,076  
    Substandard loans to total loans HFI   2.81 %     2.43 %     2.07 %
    Loans 30-89 days past due, excluding nonperforming loans $ 18,003     $ 5,927     $ 11,270  
    Loans 30-89 days past due, excluding nonperforming loans, to total loans   0.56 %     0.19 %     0.37 %
    Nonperforming loans $ 56,817     $ 60,380     $ 54,589  
    OREO $ 4,170     $ 4,170     $ —  
    Nonperforming assets $ 60,987     $ 64,550     $ 54,589  
    Nonperforming loans to total loans HFI   1.76 %     1.92 %     1.79 %
    Nonperforming assets to total assets   1.49 %     1.61 %     1.41 %
                           
    Allowance for loan losses $ 51,014     $ 51,932     $ 41,741  
    Allowance for loan losses to total loans HFI   1.58 %     1.65 %     1.37 %
    Allowance for loan losses to nonperforming loans HFI   89.79 %     86.01 %     76.46 %
    Net charge-offs $ 3,305     $ 2,643     $ 551  
    Net charge-offs to average loans   0.42 %     0.35 %     0.07 %
                           
    Capitalratios(1)                      
    Tangible common equity to tangible assets(2)   11.07 %     11.10 %     11.53 %
    Tier 1 leverage ratio   12.04 %     12.07 %     12.48 %
    Tier 1 common capital to risk-weighted assets   17.61 %     17.87 %     18.89 %
    Tier 1 capital to risk-weighted assets   18.17 %     18.45 %     19.50 %
    Total capital to risk-weighted assets   24.00 %     24.42 %     25.67 %

    ___________

    (1 ) June 30, 2025 capital ratios are preliminary.
    (2 ) Non-GAAP measure. See Non-GAAP reconciliations set forth at the end of this press release.
    RBB BANCORP AND SUBSIDIARIES
    SELECTED FINANCIAL HIGHLIGHTS
    (Unaudited)
     
    Loan Portfolio Detail As of June 30, 2025   As of March 31, 2025     As of June 30, 2024  
    (dollars in thousands) $   %   $     %     $     %  
    Loans:                                          
    Commercial and industrial $ 138,263       4.3 %   $ 135,538       4.3 %   $ 126,649       4.2 %
    SBA   55,984       1.7 %     50,651       1.6 %     50,323       1.7 %
    Construction and land development   157,970       4.9 %     158,883       5.1 %     202,459       6.6 %
    Commercial real estate(1)   1,273,442       39.4 %     1,245,402       39.6 %     1,190,207       39.1 %
    Single-family residential mortgages   1,603,114       49.6 %     1,545,822       49.2 %     1,467,802       48.2 %
    Other loans   5,922       0.1 %     6,767       0.2 %     10,272       0.2 %
    Total loans $ 3,234,695       100.0 %   $ 3,143,063       100.0 %   $ 3,047,712       100.0 %
    Allowance for loan losses   (51,014 )         (51,932 )             (41,741 )        
    Total loans, net $ 3,183,681         $ 3,091,131             $ 3,005,971          

    ___________

    (1 ) Includes non-farm and non-residential loans, multi-family residential loans and non-owner occupied single family residential loans.
    Deposits As of June 30, 2025   As of March 31, 2025     As of June 30, 2024  
    (dollars in thousands) $   %   $   %     $   %  
    Deposits:                                          
    Noninterest-bearing demand $ 543,885       17.1 %   $ 528,205       16.8 %   $ 542,971       18.0 %
    Savings, NOW and money market accounts   691,679       21.7 %     721,216       22.9 %     647,770       21.4 %
    Time deposits, $250,000 and under   848,379       26.6 %     863,962       27.5 %     921,712       30.5 %
    Time deposits, greater than $250,000   920,481       28.8 %     870,708       27.8 %     790,478       26.1 %
    Wholesale deposits(1)   183,807       5.8 %     158,537       5.0 %     120,674       4.0 %
    Total deposits $ 3,188,231       100.0 %   $ 3,142,628       100.0 %   $ 3,023,605       100.0 %

    ___________

    (1 ) Includes brokered deposits, collateralized deposits from the State of California, and deposits acquired through internet listing services.

    Non-GAAP Reconciliations

    Tangible Book Value Reconciliations

    Tangible book value per share is a non-GAAP disclosure. Management measures tangible book value per share to assess the Company’s capital strength and business performance and believes this is helpful to investors as additional tools for further understanding our performance. The following is a reconciliation of tangible book value to the Company shareholders’ equity computed in accordance with GAAP, as well as a calculation of tangible book value per share as of as of the dates indicated.

                         
    (dollars in thousands, except share and per share data) June 30, 2025     March 31, 2025     June 30, 2024  
    Tangible common equity:                      
    Total shareholders’ equity $ 517,653     $ 510,306     $ 511,291  
    Adjustments                      
    Goodwill   (71,498 )     (71,498 )     (71,498 )
    Core deposit intangible   (1,667 )     (1,839 )     (2,394 )
    Tangible common equity $ 444,488     $ 436,969     $ 437,399  
    Tangible assets:                      
    Total assets-GAAP $ 4,090,040     $ 4,009,400     $ 3,868,186  
    Adjustments                      
    Goodwill   (71,498 )     (71,498 )     (71,498 )
    Core deposit intangible   (1,667 )     (1,839 )     (2,394 )
    Tangible assets $ 4,016,875     $ 3,936,063     $ 3,794,294  
    Common shares outstanding   17,699,091       17,738,628       18,182,154  
    Common equity to assets ratio   12.66 %     12.73 %     13.22 %
    Tangible common equity to tangible assets ratio   11.07 %     11.10 %     11.53 %
    Book value per share $ 29.25     $ 28.77     $ 28.12  
    Tangible book value per share $ 25.11     $ 24.63     $ 24.06  

    Return on Average Tangible Common Equity

    Management measures return on average tangible common equity (“ROATCE”) to assess the Company’s capital strength and business performance and believes this is helpful to investors as an additional tool for further understanding our performance. Tangible equity excludes goodwill and other intangible assets (excluding mortgage servicing rights) and is reviewed by banking and financial institution regulators when assessing a financial institution’s capital adequacy. This non-GAAP financial measure should not be considered a substitute for operating results determined in accordance with GAAP and may not be comparable to other similarly titled measures used by other companies. The following table reconciles ROATCE to its most comparable GAAP measure:

      Three Months Ended     Six Months Ended June 30,  
    (dollars in thousands) June 30, 2025     March 31, 2025     June 30, 2024     2025     2024  
    Net income available to common shareholders $ 9,333     $ 2,290     $ 7,245     $ 11,623     $ 15,281  
    Average shareholders’ equity   513,691       512,262       512,185       512,981       512,486  
    Adjustments:                                      
    Average goodwill   (71,498 )     (71,498 )     (71,498 )     (71,498 )     (71,498 )
    Average core deposit intangible   (1,780 )     (1,951 )     (2,525 )     (1,865 )     (2,625 )
    Adjusted average tangible common equity $ 440,413     $ 438,813     $ 438,162     $ 439,618     $ 438,363  
    Return on average common equity, annualized   7.29 %     1.81 %     5.69 %     4.57 %     6.00 %
    Return on average tangible common equity, annualized   8.50 %     2.12 %     6.65 %     5.33 %     7.01 %

    The MIL Network –

  • MIL-OSI: RBB Bancorp Reports Second Quarter 2025 Earnings and Declares Quarterly Cash Dividend of $0.16 Per Common Share

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, July 21, 2025 (GLOBE NEWSWIRE) — RBB Bancorp (NASDAQ:RBB) and its subsidiaries, Royal Business Bank (the “Bank”) and RBB Asset Management Company (“RAM”), collectively referred to herein as the “Company,” announced financial results for the quarter ended June 30, 2025.

    Second Quarter 2025 Highlights

    • Net income totaled $9.3 million, or $0.52 diluted earnings per share
    • Return on average assets of 0.93%, compared to 0.24% for the quarter ended March 31, 2025
    • Net interest margin expanded to 2.92%, up from 2.88% for the quarter ended March 31, 2025
    • Net loans held for investment growth of $91.6 million, or 12% annualized
    • Nonperforming assets decreased $3.6 million, or 5.5%, to $61.0 million at June 30, 2025, down from $64.6 million at March 31, 2025
    • Book value and tangible book value per share(1) increased to $29.25 and $25.11 at June 30, 2025, up from $28.77 and $24.63 at March 31, 2025

    The Company reported net income of $9.3 million, or $0.52 diluted earnings per share, for the quarter ended June 30, 2025, compared to net income of $2.3 million, or $0.13 diluted earnings per share, for the quarter ended March 31, 2025. Net income for the second quarter of 2025 included income from an Employee Retention Credit (“ERC”) of $5.2 million (pre-tax), which was included in other income, offset partially by professional and advisory costs associated with filing and determining eligibility for the ERC totaling $1.2 million (pre-tax).

    “Another quarter of strong loan growth and stable loan yields drove increasing net interest income and margin expansion in the second quarter,” said Johnny Lee, President and Chief Executive Officer of RBB Bancorp. “We also benefited from the receipt of a $5.2 million ERC in the second quarter. We continue to work through our nonperforming assets and remain focused on resolving our nonperforming loans as quickly as possible while minimizing the impact to earnings and capital.”

    (1 ) Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures included at the end of this press release.
         

    Net Interest Income and Net Interest Margin

    Net interest income was $27.3 million for the second quarter of 2025, compared to $26.2 million for the first quarter of 2025. The $1.2 million increase was due to a $1.9 million increase in interest income, offset by a $698,000 increase in interest expense. The increase in interest income was mostly due to a $2.1 million increase in interest and fees on loans. The increase in interest expense was due to a $433,000 increase in interest on borrowings and a $265,000 increase in interest on deposits.

    The net interest margin (“NIM”) was 2.92% for the second quarter of 2025, an increase of 4 basis points from 2.88% for the first quarter of 2025. The NIM expansion was due to a 3 basis point increase in the yield on average interest-earning assets, combined with a 1 basis point decrease in the overall cost of funds. The yield on average interest-earning assets increased to 5.79% for the second quarter of 2025 from 5.76% for the first quarter of 2025 due mainly to a 2 basis point increase in the yield on average loans to 6.03%. Average loans represented 85% of average interest-earning assets in the second quarter of 2025, as compared to 84% in the first quarter of 2025.

    The average cost of funds decreased to 3.14% for the second quarter of 2025 from 3.15% for the first quarter of 2025, driven by an 11 basis point decrease in the average cost of interest-bearing deposits, partially offset by a 75 basis point increase in the average cost of total borrowings. The average cost of interest-bearing deposits decreased to 3.66% for the second quarter of 2025 from 3.77% for the first quarter of 2025. The overall funding mix for the second quarter of 2025 remained relatively unchanged from the first quarter of 2025 with total deposits representing 90% of interest bearing liabilities and average noninterest-bearing deposits representing 17% of average total deposits. The average cost of borrowings increased as $150 million in long term FHLB advances matured during the first quarter of 2025, the majority of which were replaced and repriced at current market rates. The all-in average spot rate for total deposits was 2.95% at June 30, 2025.

    Provision for Credit Losses

    The provision for credit losses was $2.4 million for the second quarter of 2025 compared to $6.7 million for the first quarter of 2025. The second quarter of 2025 provision for credit losses reflected an increase in general reserves of $1.5 million due mainly to net loan growth, and an increase in a specific reserve of $924,000 related to one lending relationship. The second quarter provision also took into consideration factors such as changes in the outlook for economic conditions and market interest rates, and changes in credit quality metrics, including changes in loans 30-89 days past due, nonperforming loans, special mention and substandard loans during the period. Net charge-offs of $3.3 million in the second quarter related to loans which had these specific reserves at March 31, 2025. Net charge-offs on an annualized basis represented 0.42% of average loans for the second quarter of 2025 compared to 0.35% for the first quarter of 2025.

    Noninterest Income

    Noninterest income for the second quarter of 2025 was $8.5 million, an increase of $6.2 million from $2.3 million for the first quarter of 2025. The second quarter of 2025 included other income of $5.2 million for the receipt of ERC funds from the IRS. The ERC was a grant program established under the Coronavirus Aid, Relief, and Economic Security Act in response to the COVID-19 pandemic and these funds relate to qualifying amended payroll tax returns the Company filed for the first and second quarters of 2021.

    Upon receipt of the ERC funds, certain professional and tax advisory costs associated with the assessment and compilation of the ERC refunds became due and payable. These amounts totaled $1.2 million and are included in legal and professional expense in our consolidated statements of income for the second quarter of 2025. There were no such ERC amounts received or associated costs recognized during the first quarter of 2025 or the quarter ended June 30, 2024.

    The second quarter of 2025 also included a higher gain on sale of loans of $277,000 and recoveries associated with a fully-charged off loan acquired in a bank acquisition of $350,000, the latter included in “other income.”

    Noninterest Expense

    Noninterest expense for the second quarter of 2025 was $20.5 million, an increase of $2.0 million from $18.5 million for the first quarter of 2025. This increase was mostly due to higher legal and professional expense of $1.4 million, of which $1.2 million was attributed to the aforementioned ERC advisory costs, and a $437,000 increase in salaries and employee benefits expenses. The increase in compensation includes higher incentives related to sustained production levels, the impact of annual pay increases, and approximately $330,000 in costs related to executive management transitions, offset by lower payroll taxes. The efficiency ratio was 57.2% for the second quarter of 2025, down from 65.1% for the first quarter of 2025 due mostly to higher noninterest income related to the ERC, partially offset by higher noninterest expense related to the ERC advisory costs.

    Income Taxes

    The effective tax rate was 27.8% for the second quarter of 2025 and 28.2% for the first quarter of 2025. 

    Balance Sheet

    At June 30, 2025, total assets were $4.1 billion, an $80.6 million increase compared to March 31, 2025, and a $221.9 million increase compared to June 30, 2024.

    Loan and Securities Portfolio

    Loans held for investment (“HFI”) totaled $3.2 billion as of June 30, 2025, an increase of $91.6 million, or 12% annualized, compared to March 31, 2025 and an increase of $187.0 million, or 6.1%, compared to June 30, 2024. The second quarter of 2025 net loan growth included $182.8 million in new production with an average yield of 6.76%. The increase from March 31, 2025 was primarily due to a $57.3 million increase in single-family residential (“SFR”) mortgage loans, a $28.0 million increase in commercial real estate (“CRE”) loans, a $5.3 million increase in Small Business Administration (“SBA”) loans and a $2.7 million increase in commercial and industrial (“C&I”) loans. The loan to deposit ratio was 101.5% at June 30, 2025, compared to 100.0% at March 31, 2025 and 100.9% at June 30, 2024. 

    As of June 30, 2025, available for sale securities (“AFS”) totaled $413.1 million, an increase of $35.0 million from March 31, 2025, primarily related to purchases of $68.0 million, offset by maturities and amortization of $33.0 million during the second quarter of 2025. As of June 30, 2025, net unrealized losses totaled $23.1 million, a $1.9 million decrease, when compared to net unrealized losses of $25.0 million as of March 31, 2025.

    Deposits

    Total deposits were $3.2 billion as of June 30, 2025, an increase of $45.6 million, or 5.8% annualized, compared to March 31, 2025 and an increase of $164.6 million, or 5.4%, compared to June 30, 2024. The increase during the second quarter of 2025 was due to a $29.9 million increase in interest-bearing deposits coupled with a $15.7 million increase in noninterest-bearing deposits. The increase in interest-bearing deposits included increases in time deposits of $59.5 million, offset by decreases in interest-bearing non-maturity deposits of $29.5 million. Wholesale deposits totaled $183.8 million at June 30, 2025, an increase of $25.3 million compared to $158.5 million at March 31, 2025. Noninterest-bearing deposits totaled $543.9 million and represented 17.1% of total deposits at June 30, 2025 compared to $528.2 million and 16.8% at March 31, 2025.

    Credit Quality

    Nonperforming assets totaled $61.0 million, or 1.49% of total assets, at June 30, 2025, down from $64.6 million, or 1.61% of total assets, at March 31, 2025. The $3.6 million decrease in nonperforming assets was due to $3.3 million in net charge-offs and $1.7 million in payoffs and paydowns, partially offset by $1.4 million in additions from loans migrating to nonaccrual status in the second quarter of 2025. Nonperforming assets included one $4.2 million other real estate owned (included in “accrued interest and other assets”) at June 30, 2025 and March 31, 2025.

    Special mention loans totaled $91.3 million, or 2.82% of total loans, at June 30, 2025, up from $64.3 million, or 2.05% of total loans, at March 31, 2025. The $27.0 million increase was primarily due to the addition of loans totaling $30.1 million and $1.6 million in balance increases, partially offset by the downgrade of two CRE loans totaling $4.0 million to substandard-rated loans and payoffs and paydowns totaling $660,000. As of June 30, 2025, all special mention loans were paying current.

    Substandard loans totaled $91.0 million at June 30, 2025, up from $76.4 million at March 31, 2025. The $14.6 million increase was primarily due to the downgrades totaling $20.6 million, partially offset by net charge-offs totaling $3.3 million and payoffs and paydowns totaling $2.7 million. Of the total substandard loans at June 30, 2025, there were $34.2 million on accrual status.

    30-89 day delinquent loans, excluding nonperforming loans, totaled $18.0 million, or 0.56% of total loans, at June 30, 2025, up from $5.9 million, or 0.19% of total loans, at March 31, 2025. The $12.1 million increase was mostly due to $15.5 million in new delinquent loans, offset by $2.2 million in loans returning to current status, $798,000 in loans migrating to nonaccrual status, and $427,000 in paydowns and payoffs. The additions include an $8.5 million CRE loan that has since been brought current.

    As of June 30, 2025, the allowance for credit losses totaled $51.6 million and was comprised of an allowance for loan losses of $51.0 million and a reserve for unfunded commitments of $629,000 (included in “accrued interest and other liabilities”). This compares to the allowance for credit losses of $52.6 million, comprised of an allowance for loan losses of $51.9 million and a reserve for unfunded commitments of $629,000 at March 31, 2025. The $918,000 decrease in the allowance for credit losses for the second quarter of 2025 was due to net charge-offs of $3.3 million, offset by a $2.4 million provision for credit losses. The allowance for loan losses as a percentage of loans HFI decreased to 1.58% at June 30, 2025, compared to 1.65% at March 31, 2025, due mainly to net charge-offs of amounts included in specific reserves at March 31, 2025. The allowance for loan losses as a percentage of nonperforming loans HFI was 90% at June 30, 2025, an increase from 86% at March 31, 2025. 

      For the Three Months Ended June 30, 2025     For the Six Months Ended June 30, 2025  
    (dollars in thousands) Allowance
    for
    loan losses    		     Reserve for
    unfunded
    loan commitments    		     Allowance
    for
    credit losses    		     Allowance
    for loan
    losses    		     Reserve for
    unfunded
    loan
    commitments    		     Allowance
    for credit
    losses    		  
    Beginning balance $ 51,932     $ 629     $ 52,561     $ 47,729     $ 729     $ 48,458  
    Provision for (reversal of) credit losses   2,387       —       2,387       9,233       (100 )     9,133  
    Less loans charged-off   (3,339 )     —       (3,339 )     (6,065 )     —       (6,065 )
    Recoveries on loans charged-off   34       —       34       117       —       117  
    Ending balance $ 51,014     $ 629     $ 51,643     $ 51,014     $ 629     $ 51,643  
     

    Shareholders’ Equity

    At June 30, 2025, total shareholders’ equity was $517.7 million, a $7.3 million increase compared to March 31, 2025, and a $6.4 million increase compared to June 30, 2024. The increase in shareholders’ equity for the second quarter of 2025 was due to net income of $9.3 million, lower net unrealized losses on AFS securities of $1.3 million and equity compensation activity of $1.1 million, offset by common stock cash dividends paid totaling $2.9 million and common stock repurchases totaling $1.5 million. The increase in shareholders’ equity for the last twelve months was due to net income of $23.0 million, lower net unrealized losses on AFS securities of $4.9 million, and equity compensation activity of $2.5 million, offset by common stock repurchases totaling $12.5 million and common stock cash dividends paid totaling $11.5 million. Book value per share and tangible book value per share(1) increased to $29.25 and $25.11 at June 30, 2025, up from $28.77 and $24.63 at March 31, 2025 and up from $28.12 and $24.06 at June 30, 2024.

    Dividend Announcement

    The Board of Directors has declared a quarterly cash dividend of $0.16 per common share. The dividend is payable on August 12, 2025 to shareholders of record on July 31, 2025.

    (1 ) Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures included at the end of this press release.
         

    Corporate Overview

    RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California. As of June 30, 2025, the Company had total assets of $4.1 billion. Its wholly-owned subsidiary, Royal Business Bank, is a full service commercial bank, which provides consumer and business banking services predominately to the Asian-centric communities in Los Angeles County, Orange County, and Ventura County in California, in Las Vegas, Nevada, in Brooklyn, Queens, and Manhattan in New York, in Edison, New Jersey, in the Chicago neighborhoods of Chinatown and Bridgeport, Illinois, and on Oahu, Hawaii. Bank services include remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, 1-4 single family residential loans, trade finance, a full range of depository account products and wealth management services. The Bank has nine branches in Los Angeles County, two branches in Ventura County, one branch in Orange County, California, one branch in Las Vegas, Nevada, three branches and one loan operation center in Brooklyn, three branches in Queens, one branch in Manhattan in New York, one branch in Edison, New Jersey, two branches in Chicago, Illinois, and one branch in Honolulu, Hawaii. The Company’s administrative and lending center is located at 1055 Wilshire Blvd., Los Angeles, California 90017, and its operations center is located at 7025 Orangethorpe Ave., Buena Park, California 90621. The Company’s website address is www.royalbusinessbankusa.com.

    Conference Call

    Management will hold a conference call at 11:00 a.m. Pacific time/2:00 p.m. Eastern time on Tuesday, July 22, 2025, to discuss the Company’s second quarter 2025 financial results.

    To listen to the conference call, please dial 1-888-506-0062 or 1-973-528-0011, the Participant ID code is 710803, conference ID RBBQ225. A replay of the call will be made available at 1-877-481-4010 or 1-919-882-2331, the passcode is 52690, approximately one hour after the conclusion of the call and will remain available through August 05, 2025.

    The conference call will also be simultaneously webcast over the Internet; please visit our Royal Business Bank website at www.royalbusinessbankusa.com and click on the “Investors” tab to access the call from the site. This webcast will be recorded and available for replay on our website approximately two hours after the conclusion of the conference call.

    Disclosure

    This press release contains certain non-GAAP financial disclosures for tangible common equity and tangible assets and adjusted earnings. The Company uses certain non-GAAP financial measures to provide meaningful supplemental information regarding the Company’s operational performance and to enhance investors’ overall understanding of such financial performance. Please refer to the tables at the end of this release for a presentation of performance ratios in accordance with GAAP and a reconciliation of the non-GAAP financial measures to the GAAP financial measures.

    Safe Harbor

    Certain matters set forth herein (including the exhibits hereto) constitute forward-looking statements relating to the Company’s current business plans and expectations and our future financial position and operating results. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, the effectiveness of the Company’s internal control over financial reporting and disclosure controls and procedures; the potential for additional material weaknesses in the Company’s internal controls over financial reporting or other potential control deficiencies of which the Company is not currently aware or which have not been detected; business and economic conditions generally and in the financial services industry, nationally and within our current and future geographic markets, including the tight labor market, ineffective management of the United States (“U.S.”) federal budget or debt or turbulence or uncertainly in domestic or foreign financial markets; the strength of the U.S. economy in general and the strength of the local economies in which we conduct operations; adverse developments in the banking industry highlighted by high-profile bank failures and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments; possible additional provisions for credit losses and charge-offs; credit risks of lending activities and deterioration in asset or credit quality; extensive laws and regulations and supervision that we are subject to, including potential supervisory action by bank supervisory authorities; compliance with the Bank Secrecy Act and other money laundering statutes and regulations; potential goodwill impairment; liquidity risk; failure to comply with debt covenants; fluctuations in interest rates; risks associated with acquisitions and the expansion of our business into new markets; inflation and deflation; real estate market conditions and the value of real estate collateral; the effects of having concentrations in our loan portfolio, including commercial real estate and the risks of geographic and industry concentrations; environmental liabilities; our ability to compete with larger competitors; our ability to retain key personnel; successful management of reputational risk; severe weather, natural disasters, earthquakes, fires, including direct and indirect costs and impacts on clients, the Company and its employees from the January 2025 Los Angeles County wildfires; or other adverse external events could harm our business; geopolitical conditions, including acts or threats of terrorism, actions taken by the U.S. or other governments in response to acts or threats of terrorism and/or military conflicts, including the conflicts between Russia and Ukraine, in the Middle East, and increasing tensions between China and Taiwan, which could impact business and economic conditions in the U.S. and abroad; tariffs, trade policies, and related tensions, which could impact our clients, specific industry sectors, and/or broader economic conditions and financial market; public health crises and pandemics, and their effects on the economic and business environments in which we operate, including our credit quality and business operations, as well as the impact on general economic and financial market conditions; general economic or business conditions in Asia, and other regions where the Bank has operations; failures, interruptions, or security breaches of our information systems; climate change, including any enhanced regulatory, compliance, credit and reputational risks and costs; cybersecurity threats and the cost of defending against them; our ability to adapt our systems to the expanding use of technology in banking; risk management processes and strategies; adverse results in legal proceedings; the impact of regulatory enforcement actions, if any; certain provisions in our charter and bylaws that may affect acquisition of the Company; changes in tax laws and regulations; the impact of governmental efforts to restructure the U.S. financial regulatory system and increased costs of compliance and other risks associated with changes in regulation, including any amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act; the impact of changes in the Federal Deposit Insurance Corporation (“FDIC”) insurance assessment rate and the rules and regulations related to the calculation of the FDIC insurance assessments; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the SEC, the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters; fluctuations in the Company’s stock price; restrictions on dividends and other distributions by laws and regulations and by our regulators and our capital structure; our ability to raise additional capital, if needed, and the potential resulting dilution of interests of holders of our common stock; the soundness of other financial institutions; our ongoing relations with our various federal and state regulators, including the SEC, FDIC, FRB and California Department of Financial Protection and Innovation; our success at managing the risks involved in the foregoing items and all other factors set forth in the Company’s public reports, including its Annual Report as filed under Form 10-K for the year ended December 31, 2024, and particularly the discussion of risk factors within that document. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company’s earnings or shareholders, are for illustrative purposes only, are not forecasts, and actual results may differ.

    RBB BANCORP AND SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Unaudited)
    (Dollars in thousands)
     
      June 30,     March 31,     December 31,     September 30,     June 30,  
      2025     2025     2024     2024     2024  
    Assets                                      
    Cash and due from banks $ 27,338     $ 25,315     $ 27,747     $ 26,388     $ 23,313  
    Interest-earning deposits with financial institutions   164,514       213,508       229,998       323,002       229,456  
    Cash and cash equivalents   191,852       238,823       257,745       349,390       252,769  
    Interest-earning time deposits with financial institutions   600       600       600       600       600  
    Investment securities available for sale   413,142       378,188       420,190       305,666       325,582  
    Investment securities held to maturity   4,186       5,188       5,191       5,195       5,200  
    Loans held for sale   –       655       11,250       812       3,146  
    Loans held for investment   3,234,695       3,143,063       3,053,230       3,091,896       3,047,712  
    Allowance for loan losses   (51,014 )     (51,932 )     (47,729 )     (43,685 )     (41,741 )
    Net loans held for investment   3,183,681       3,091,131       3,005,501       3,048,211       3,005,971  
    Premises and equipment, net   23,945       24,308       24,601       24,839       25,049  
    Federal Home Loan Bank (FHLB) stock   15,000       15,000       15,000       15,000       15,000  
    Cash surrender value of bank owned life insurance   61,111       60,699       60,296       59,889       59,486  
    Goodwill   71,498       71,498       71,498       71,498       71,498  
    Servicing assets   6,482       6,766       6,985       7,256       7,545  
    Core deposit intangibles   1,667       1,839       2,011       2,194       2,394  
    Right-of-use assets   25,554       26,779       28,048       29,283       30,530  
    Accrued interest and other assets   91,322       87,926       83,561       70,644       63,416  
    Total assets $ 4,090,040     $ 4,009,400     $ 3,992,477     $ 3,990,477     $ 3,868,186  
    Liabilities and shareholders’ equity                                      
    Deposits:                                      
    Noninterest-bearing demand $ 543,885     $ 528,205     $ 563,012     $ 543,623     $ 542,971  
    Savings, NOW and money market accounts   691,679       721,216       663,034       666,089       647,770  
    Time deposits, $250,000 and under   1,010,674       1,000,106       1,007,452       1,052,462       1,014,189  
    Time deposits, greater than $250,000   941,993       893,101       850,291       830,010       818,675  
    Total deposits   3,188,231       3,142,628       3,083,789       3,092,184       3,023,605  
    FHLB advances   180,000       160,000       200,000       200,000       150,000  
    Long-term debt, net of issuance costs   119,720       119,624       119,529       119,433       119,338  
    Subordinated debentures   15,265       15,211       15,156       15,102       15,047  
    Lease liabilities – operating leases   27,294       28,483       29,705       30,880       32,087  
    Accrued interest and other liabilities   41,877       33,148       36,421       23,150       16,818  
    Total liabilities   3,572,387       3,499,094       3,484,600       3,480,749       3,356,895  
    Shareholders’ equity:                                      
    Common stock   259,863       260,284       259,957       259,280       266,160  
    Additional paid-in capital   3,579       3,360       3,645       3,520       3,456  
    Retained earnings   270,152       263,885       264,460       262,946       262,518  
    Non-controlling interest   72       72       72       72       72  
    Accumulated other comprehensive loss, net   (16,013 )     (17,295 )     (20,257 )     (16,090 )     (20,915 )
    Total shareholders’ equity   517,653       510,306       507,877       509,728       511,291  
    Total liabilities and shareholders’ equity $ 4,090,040     $ 4,009,400     $ 3,992,477     $ 3,990,477     $ 3,868,186  
    RBB BANCORP AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
    (In thousands, except share and per share data)
     
      For the Three Months Ended     For the Six Months Ended  
      June 30,
    2025    		     March 31,
    2025    		     June 30,
    2024    		     June 30,
    2025    		     June 30,
    2024    		  
    Interest and dividend income:                                      
    Interest and fees on loans $ 47,687     $ 45,621     $ 45,320     $ 93,308     $ 90,867  
    Interest on interest-earning deposits   1,750       2,014       3,353       3,764       8,393  
    Interest on investment securities   4,213       4,136       3,631       8,349       7,242  
    Dividend income on FHLB stock   324       330       327       654       658  
    Interest on federal funds sold and other   231       235       255       466       521  
    Total interest and dividend income   54,205       52,336       52,886       106,541       107,681  
    Interest expense:                                      
    Interest on savings deposits, NOW and money market accounts   4,567       4,468       4,953       9,035       9,431  
    Interest on time deposits   19,250       19,084       21,850       38,334       45,172  
    Interest on long-term debt and subordinated debentures   1,634       1,632       1,679       3,266       3,358  
    Interest on FHLB advances   1,420       989       439       2,409       878  
    Total interest expense   26,871       26,173       28,921       53,044       58,839  
    Net interest income before provision for credit losses   27,334       26,163       23,965       53,497       48,842  
    Provision for credit losses   2,387       6,746       557       9,133       557  
    Net interest income after provision for credit losses   24,947       19,417       23,408       44,364       48,285  
    Noninterest income:                                      
    Service charges and fees   1,060       1,017       1,064       2,077       2,056  
    Gain on sale of loans   358       81       451       439       763  
    Loan servicing fees, net of amortization   541       588       579       1,129       1,168  
    Increase in cash surrender value of life insurance   411       403       385       814       767  
    Gain on OREO   —       —       292       —       1,016  
    Other income   6,108       206       717       6,314       1,090  
    Total noninterest income   8,478       2,295       3,488       10,773       6,860  
    Noninterest expense:                                      
    Salaries and employee benefits   11,080       10,643       9,533       21,723       19,460  
    Occupancy and equipment expenses   2,377       2,407       2,439       4,784       4,882  
    Data processing   1,713       1,602       1,466       3,315       2,886  
    Legal and professional   2,904       1,515       1,260       4,419       2,140  
    Office expenses   405       408       352       813       708  
    Marketing and business promotion   212       197       189       409       361  
    Insurance and regulatory assessments   709       730       981       1,439       1,963  
    Core deposit premium   172       172       201       344       402  
    Other expenses   921       848       703       1,769       1,291  
    Total noninterest expense   20,493       18,522       17,124       39,015       34,093  
    Income before income taxes   12,932       3,190       9,772       16,122       21,052  
    Income tax expense   3,599       900       2,527       4,499       5,771  
    Net income $ 9,333     $ 2,290     $ 7,245     $ 11,623     $ 15,281  
                                           
    Net income per share                                      
    Basic $ 0.53     $ 0.13     $ 0.39     $ 0.66     $ 0.83  
    Diluted $ 0.52     $ 0.13     $ 0.39     $ 0.65     $ 0.82  
    Cash dividends declared per common share $ 0.16     $ 0.16     $ 0.16     $ 0.32     $ 0.32  
    Weighted-average common shares outstanding                                      
    Basic   17,746,607       17,727,712       18,375,970       17,737,212       18,488,623  
    Diluted   17,797,735       17,770,588       18,406,897       17,784,237       18,529,299  
    RBB BANCORP AND SUBSIDIARIES
    AVERAGE BALANCE SHEET AND NET INTEREST INCOME
    (Unaudited)
     
      For the Three Months Ended  
      June 30, 2025     March 31, 2025     June 30, 2024  
      Average     Interest     Yield /     Average     Interest     Yield /     Average     Interest     Yield /  
    (tax-equivalent basis, dollars in thousands) Balance     & Fees     Rate     Balance     & Fees     Rate     Balance     & Fees     Rate  
    Interest-earning assets                                                                      
    Cash and cash equivalents(1) $ 163,838     $ 1,980       4.85 %   $ 194,236     $ 2,249       4.70 %   $ 255,973     $ 3,608       5.67 %
    FHLB Stock   15,000       324       8.66 %     15,000       330       8.92 %     15,000       327       8.77 %
    Securities                                                                      
    Available for sale(2)   399,414       4,189       4.21 %     390,178       4,113       4.28 %     318,240       3,608       4.56 %
    Held to maturity(2)   5,028       48       3.83 %     5,189       49       3.83 %     5,203       46       3.56 %
    Total loans(3)   3,171,570       47,687       6.03 %     3,079,224       45,621       6.01 %     3,017,050       45,320       6.04 %
    Total interest-earning assets   3,754,850     $ 54,228       5.79 %     3,683,827     $ 52,362       5.76 %     3,611,466     $ 52,909       5.89 %
    Total noninterest-earning assets   254,029                       260,508                       240,016                  
    Total average assets $ 4,008,879                     $ 3,944,335                     $ 3,851,482                  
                                                                           
    Interest-bearing liabilities                                                                      
    NOW $ 66,755       368       2.21 %   $ 61,222     $ 321       2.13 %   $ 56,081     $ 276       1.98 %
    Money market   482,669       3,774       3.14 %     463,443       3,625       3.17 %     431,559       3,877       3.61 %
    Saving deposits   141,411       425       1.21 %     155,116       522       1.36 %     164,913       800       1.95 %
    Time deposits, $250,000 and under   996,249       9,768       3.93 %     989,622       10,046       4.12 %     1,049,666       12,360       4.74 %
    Time deposits, greater than $250,000   922,540       9,482       4.12 %     864,804       9,038       4.24 %     772,255       9,490       4.94 %
    Total interest-bearing deposits   2,609,624       23,817       3.66 %     2,534,207       23,552       3.77 %     2,474,474       26,803       4.36 %
    FHLB advances   159,286       1,420       3.58 %     176,833       989       2.27 %     150,000       439       1.18 %
    Long-term debt   119,657       1,296       4.34 %     119,562       1,295       4.39 %     119,275       1,296       4.37 %
    Subordinated debentures   15,230       338       8.90 %     15,175       337       9.01 %     15,011       383       10.26 %
    Total interest-bearing liabilities   2,903,797       26,871       3.71 %     2,845,777       26,173       3.73 %     2,758,760       28,921       4.22 %
    Noninterest-bearing liabilities                                                                      
    Noninterest-bearing deposits   526,113                       520,145                       529,450                  
    Other noninterest-bearing liabilities   65,278                       66,151                       51,087                  
    Total noninterest-bearing liabilities   591,391                       586,296                       580,537                  
    Shareholders’ equity   513,691                       512,262                       512,185                  
    Total liabilities and shareholders’ equity $ 4,008,879                     $ 3,944,335                     $ 3,851,482                  
    Net interest income / interest rate spreads         $ 27,357       2.08 %           $ 26,189       2.03 %           $ 23,988       1.67 %
    Net interest margin                   2.92 %                     2.88 %                     2.67 %
                                                                           
    Total cost of deposits $ 3,135,737     $ 23,817       3.05 %   $ 3,054,352     $ 23,552       3.13 %   $ 3,003,924     $ 26,803       3.59 %
    Total cost of funds $ 3,429,910     $ 26,871       3.14 %   $ 3,365,922     $ 26,173       3.15 %   $ 3,288,210     $ 28,921       3.54 %

    ___________

    (1 ) Includes income and average balances for interest-earning time deposits and other miscellaneous interest-earning assets.
    (2 ) Interest income and average rates for tax-exempt securities are presented on a tax-equivalent basis.
    (3 ) Average loan balances relate to loans held for investment and loans held for sale and include nonaccrual loans. Interest income on loans includes the effects of discount accretion and net deferred loan origination fees and costs accounted for as yield adjustments.
    RBB BANCORP AND SUBSIDIARIES
    AVERAGE BALANCE SHEET AND NET INTEREST INCOME
    (Unaudited)
     
      Six Months Ended June 30,  
      2025     2024  
      Average     Interest     Yield /     Average     Interest     Yield /  
    (tax-equivalent basis, dollars in thousands) Balance     & Fees     Rate     Balance     & Fees     Rate  
    Interest-earning assets                                              
    Cash and cash equivalents(1) $ 178,953     $ 4,230       4.77 %   $ 310,476     $ 8,914       5.77 %
    FHLB Stock   15,000       654       8.79 %     15,000       658       8.82 %
    Securities                                              
    Available for sale(2)   394,822       8,302       4.24 %     319,127       7,197       4.54 %
    Held to maturity(2)   5,108       97       3.83 %     5,205       94       3.63 %
    Total loans(3)   3,125,652       93,308       6.02 %     3,017,737       90,867       6.06 %
    Total interest-earning assets   3,719,535     $ 106,591       5.78 %     3,667,545     $ 107,730       5.91 %
    Total noninterest-earning assets   257,250                       243,178                  
    Total average assets $ 3,976,785                     $ 3,910,723                  
                                                   
    Interest-bearing liabilities                                              
    NOW $ 64,004       689       2.17 %   $ 57,513     $ 574       2.01 %
    Money market   473,109       7,399       3.15 %     421,655       7,403       3.53 %
    Saving deposits   148,225       947       1.29 %     161,070       1,454       1.82 %
    Time deposits, $250,000 and under   992,954       19,815       4.02 %     1,112,735       26,165       4.73 %
    Time deposits, greater than $250,000   893,832       18,519       4.18 %     778,713       19,007       4.91 %
    Total interest-bearing deposits   2,572,124       47,369       3.71 %     2,531,686       54,603       4.34 %
    FHLB advances   168,011       2,409       2.89 %     150,000       878       1.18 %
    Long-term debt   119,610       2,591       4.37 %     119,228       2,591       4.37 %
    Subordinated debentures   15,203       675       8.95 %     14,984       767       10.29 %
    Total interest-bearing liabilities   2,874,948       53,044       3.72 %     2,815,898       58,839       4.20 %
    Noninterest-bearing liabilities                                              
    Noninterest-bearing deposits   523,145                       528,898                  
    Other noninterest-bearing liabilities   65,711                       53,441                  
    Total noninterest-bearing liabilities   588,856                       582,339                  
    Shareholders’ equity   512,981                       512,486                  
    Total liabilities and shareholders’ equity $ 3,976,785                     $ 3,910,723                  
    Net interest income / interest rate spreads         $ 53,547       2.06 %           $ 48,891       1.71 %
    Net interest margin                   2.90 %                     2.68 %
                                                   
    Total cost of deposits $ 3,095,269     $ 47,369       3.09 %   $ 3,060,584     $ 54,603       3.59 %
    Total cost of funds $ 3,398,093     $ 53,044       3.15 %   $ 3,344,796     $ 58,839       3.54 %

    ___________

    (1 ) Includes income and average balances for interest-earning time deposits and other miscellaneous interest-earning assets.
    (2 ) Interest income and average rates for tax-exempt securities are presented on a tax-equivalent basis.
    (3 ) Average loan balances relate to loans held for investment and loans held for sale and include nonaccrual loans. Interest income on loans includes the effects of discount accretion and net deferred loan origination fees and costs accounted for as yield adjustments.
    RBB BANCORP AND SUBSIDIARIES
    SELECTED FINANCIAL HIGHLIGHTS
    (Unaudited)
     
      At or for the Three Months Ended     At or for the Six Months Ended June 30,  
      June 30,     March 31,     June 30,                  
      2025     2025     2024     2025     2024  
    Per share data (common stock)                                      
    Book value $ 29.25     $ 28.77     $ 28.12     $ 29.25     $ 28.12  
    Tangible book value(1) $ 25.11     $ 24.63     $ 24.06     $ 25.11     $ 24.06  
    Performance ratios                                      
    Return on average assets, annualized   0.93 %     0.24 %     0.76 %     0.59 %     0.79 %
    Return on average shareholders’ equity, annualized   7.29 %     1.81 %     5.69 %     4.57 %     6.00 %
    Return on average tangible common equity, annualized(1)   8.50 %     2.12 %     6.65 %     5.33 %     7.01 %
    Noninterest income to average assets, annualized   0.85 %     0.24 %     0.36 %     0.55 %     0.35 %
    Noninterest expense to average assets, annualized   2.05 %     1.90 %     1.79 %     1.98 %     1.75 %
    Yield on average earning assets   5.79 %     5.76 %     5.89 %     5.78 %     5.91 %
    Yield on average loans   6.03 %     6.01 %     6.04 %     6.02 %     6.06 %
    Cost of average total deposits(2)   3.05 %     3.13 %     3.59 %     3.09 %     3.59 %
    Cost of average interest-bearing deposits   3.66 %     3.77 %     4.36 %     3.71 %     4.34 %
    Cost of average interest-bearing liabilities   3.71 %     3.73 %     4.22 %     3.72 %     4.20 %
    Net interest spread   2.08 %     2.03 %     1.67 %     2.06 %     1.71 %
    Net interest margin   2.92 %     2.88 %     2.67 %     2.90 %     2.68 %
    Efficiency ratio(3)   57.22 %     65.09 %     62.38 %     60.70 %     61.21 %
    Common stock dividend payout ratio   30.19 %     123.08 %     41.03 %     48.48 %     38.55 %

    ___________

    (1 ) Non-GAAP measure. See Non–GAAP reconciliations set forth at the end of this press release.
    (2 ) Total deposits include non-interest bearing deposits and interest-bearing deposits.
    (3 ) Ratio calculated by dividing noninterest expense by the sum of net interest income before provision for credit losses and noninterest income.
    RBB BANCORP AND SUBSIDIARIES
    SELECTED FINANCIAL HIGHLIGHTS
    (Unaudited)
    (Dollars in thousands)
     
      At or for the quarter ended  
      June 30,     March 31,     June 30,  
      2025     2025     2024  
    Credit Quality Data:                      
    Special mention loans $ 91,317     $ 64,279     $ 19,520  
    Special mention loans to total loans HFI   2.82 %     2.05 %     0.64 %
    Substandard loans $ 91,019     $ 76,372     $ 63,076  
    Substandard loans to total loans HFI   2.81 %     2.43 %     2.07 %
    Loans 30-89 days past due, excluding nonperforming loans $ 18,003     $ 5,927     $ 11,270  
    Loans 30-89 days past due, excluding nonperforming loans, to total loans   0.56 %     0.19 %     0.37 %
    Nonperforming loans $ 56,817     $ 60,380     $ 54,589  
    OREO $ 4,170     $ 4,170     $ —  
    Nonperforming assets $ 60,987     $ 64,550     $ 54,589  
    Nonperforming loans to total loans HFI   1.76 %     1.92 %     1.79 %
    Nonperforming assets to total assets   1.49 %     1.61 %     1.41 %
                           
    Allowance for loan losses $ 51,014     $ 51,932     $ 41,741  
    Allowance for loan losses to total loans HFI   1.58 %     1.65 %     1.37 %
    Allowance for loan losses to nonperforming loans HFI   89.79 %     86.01 %     76.46 %
    Net charge-offs $ 3,305     $ 2,643     $ 551  
    Net charge-offs to average loans   0.42 %     0.35 %     0.07 %
                           
    Capitalratios(1)                      
    Tangible common equity to tangible assets(2)   11.07 %     11.10 %     11.53 %
    Tier 1 leverage ratio   12.04 %     12.07 %     12.48 %
    Tier 1 common capital to risk-weighted assets   17.61 %     17.87 %     18.89 %
    Tier 1 capital to risk-weighted assets   18.17 %     18.45 %     19.50 %
    Total capital to risk-weighted assets   24.00 %     24.42 %     25.67 %

    ___________

    (1 ) June 30, 2025 capital ratios are preliminary.
    (2 ) Non-GAAP measure. See Non-GAAP reconciliations set forth at the end of this press release.
    RBB BANCORP AND SUBSIDIARIES
    SELECTED FINANCIAL HIGHLIGHTS
    (Unaudited)
     
    Loan Portfolio Detail As of June 30, 2025   As of March 31, 2025     As of June 30, 2024  
    (dollars in thousands) $   %   $     %     $     %  
    Loans:                                          
    Commercial and industrial $ 138,263       4.3 %   $ 135,538       4.3 %   $ 126,649       4.2 %
    SBA   55,984       1.7 %     50,651       1.6 %     50,323       1.7 %
    Construction and land development   157,970       4.9 %     158,883       5.1 %     202,459       6.6 %
    Commercial real estate(1)   1,273,442       39.4 %     1,245,402       39.6 %     1,190,207       39.1 %
    Single-family residential mortgages   1,603,114       49.6 %     1,545,822       49.2 %     1,467,802       48.2 %
    Other loans   5,922       0.1 %     6,767       0.2 %     10,272       0.2 %
    Total loans $ 3,234,695       100.0 %   $ 3,143,063       100.0 %   $ 3,047,712       100.0 %
    Allowance for loan losses   (51,014 )         (51,932 )             (41,741 )        
    Total loans, net $ 3,183,681         $ 3,091,131             $ 3,005,971          

    ___________

    (1 ) Includes non-farm and non-residential loans, multi-family residential loans and non-owner occupied single family residential loans.
    Deposits As of June 30, 2025   As of March 31, 2025     As of June 30, 2024  
    (dollars in thousands) $   %   $   %     $   %  
    Deposits:                                          
    Noninterest-bearing demand $ 543,885       17.1 %   $ 528,205       16.8 %   $ 542,971       18.0 %
    Savings, NOW and money market accounts   691,679       21.7 %     721,216       22.9 %     647,770       21.4 %
    Time deposits, $250,000 and under   848,379       26.6 %     863,962       27.5 %     921,712       30.5 %
    Time deposits, greater than $250,000   920,481       28.8 %     870,708       27.8 %     790,478       26.1 %
    Wholesale deposits(1)   183,807       5.8 %     158,537       5.0 %     120,674       4.0 %
    Total deposits $ 3,188,231       100.0 %   $ 3,142,628       100.0 %   $ 3,023,605       100.0 %

    ___________

    (1 ) Includes brokered deposits, collateralized deposits from the State of California, and deposits acquired through internet listing services.

    Non-GAAP Reconciliations

    Tangible Book Value Reconciliations

    Tangible book value per share is a non-GAAP disclosure. Management measures tangible book value per share to assess the Company’s capital strength and business performance and believes this is helpful to investors as additional tools for further understanding our performance. The following is a reconciliation of tangible book value to the Company shareholders’ equity computed in accordance with GAAP, as well as a calculation of tangible book value per share as of as of the dates indicated.

                         
    (dollars in thousands, except share and per share data) June 30, 2025     March 31, 2025     June 30, 2024  
    Tangible common equity:                      
    Total shareholders’ equity $ 517,653     $ 510,306     $ 511,291  
    Adjustments                      
    Goodwill   (71,498 )     (71,498 )     (71,498 )
    Core deposit intangible   (1,667 )     (1,839 )     (2,394 )
    Tangible common equity $ 444,488     $ 436,969     $ 437,399  
    Tangible assets:                      
    Total assets-GAAP $ 4,090,040     $ 4,009,400     $ 3,868,186  
    Adjustments                      
    Goodwill   (71,498 )     (71,498 )     (71,498 )
    Core deposit intangible   (1,667 )     (1,839 )     (2,394 )
    Tangible assets $ 4,016,875     $ 3,936,063     $ 3,794,294  
    Common shares outstanding   17,699,091       17,738,628       18,182,154  
    Common equity to assets ratio   12.66 %     12.73 %     13.22 %
    Tangible common equity to tangible assets ratio   11.07 %     11.10 %     11.53 %
    Book value per share $ 29.25     $ 28.77     $ 28.12  
    Tangible book value per share $ 25.11     $ 24.63     $ 24.06  

    Return on Average Tangible Common Equity

    Management measures return on average tangible common equity (“ROATCE”) to assess the Company’s capital strength and business performance and believes this is helpful to investors as an additional tool for further understanding our performance. Tangible equity excludes goodwill and other intangible assets (excluding mortgage servicing rights) and is reviewed by banking and financial institution regulators when assessing a financial institution’s capital adequacy. This non-GAAP financial measure should not be considered a substitute for operating results determined in accordance with GAAP and may not be comparable to other similarly titled measures used by other companies. The following table reconciles ROATCE to its most comparable GAAP measure:

      Three Months Ended     Six Months Ended June 30,  
    (dollars in thousands) June 30, 2025     March 31, 2025     June 30, 2024     2025     2024  
    Net income available to common shareholders $ 9,333     $ 2,290     $ 7,245     $ 11,623     $ 15,281  
    Average shareholders’ equity   513,691       512,262       512,185       512,981       512,486  
    Adjustments:                                      
    Average goodwill   (71,498 )     (71,498 )     (71,498 )     (71,498 )     (71,498 )
    Average core deposit intangible   (1,780 )     (1,951 )     (2,525 )     (1,865 )     (2,625 )
    Adjusted average tangible common equity $ 440,413     $ 438,813     $ 438,162     $ 439,618     $ 438,363  
    Return on average common equity, annualized   7.29 %     1.81 %     5.69 %     4.57 %     6.00 %
    Return on average tangible common equity, annualized   8.50 %     2.12 %     6.65 %     5.33 %     7.01 %

    The MIL Network –