SUMMARY

This summary highlights selected information from this proxy statement/prospectus. Because this is a summary, it does not contain all of the information that may be important to you. You should carefully read this entire document and the other documents we refer to in this proxy statement/prospectus before you decide how to vote. These materials will give you a more complete description of the merger agreement and the merger and the other matters to be considered at the special meeting. We have included page references in this summary to direct you to more complete descriptions of the topics provided elsewhere in this proxy statement/prospectus.

The Merger Agreement (See pages 72 to 102)

FAIC and RBB are proposing a strategic merger. On April 23, 2018, FAIC and RBB entered into the merger agreement, which is the legal document that contains the terms that govern the merger, including the issuance of the merger consideration in the merger. Please read the entire merger agreement which is attached to this proxy statement/prospectus as Appendix A.

Parties to the Merger Agreement

RBB is a California corporation headquartered in Los Angeles, California, and is a registered financial holding company under federal banking laws. RBB is the holding company for Royal Business Bank, a California state-chartered bank also headquartered in Los Angeles, which we sometimes refer to as the Bank. Founded in 2008, Royal Business Bank currently has thirteen (13) full service branch offices across three separate regions: Los Angeles County, California; Ventura County, California; and Clark County, Nevada. Royal Business Bank currently has ten branches in Los Angeles County, located in downtown Los Angeles, San Gabriel, Torrance, Rowland Heights, Monterey Park, Silver Lake, Arcadia, Cerritos, Diamond Bar, and west Los Angeles. Royal Business Bank has two branches in Ventura County, located in Oxnard and Westlake Village, and one branch in Las Vegas, Nevada. At March 31, 2018, RBB had total assets of $1.7 billion, total deposits of $1.4 billion and total shareholders’ equity of $275.8 million.

RBB’s principal executive offices are located at 660 S. Figueroa Street, Suite 1888, Los Angeles, California 90017, telephone: (213) 627-9888. Its website address is www.royalbusinessbankusa.com.

FAIC is a New York corporation headquartered in New York, New York, and is a registered financial holding company under federal banking laws. FAIC is the holding company for FAIB, a New York state-chartered bank also headquartered in New York. FAIB operates eight (8) branches (including its main office and corporate headquarters) in New York, including Brooklyn, Queens and Manhattan. At March 31, 2018, FAIB had total assets of $889.6 million, total deposits of $649.5 million and total shareholders’ equity of $82.1 million.

FAIC’s principal executive offices are located at 79 Bayard Street, New York, New York 10013, telephone: (646)  553-1899. Its website address is www.faib.com.

The Merger (See pages 72 to 102)

Under the terms of the merger agreement: (a) FAIC will merge with and into RBB, with RBB surviving the merger; and (b) immediately thereafter, FAIB will be merged with and into Royal Business Bank, and Royal Business Bank will continue the commercial bank operations of the combined banks under its California charter and as the wholly-owned bank subsidiary of RBB. A copy of the merger agreement between RBB and FAIC is attached to this proxy statement/prospectus as Appendix A.

Consideration to be Paid to the Holders of FAIC common stock (See page 103)

Under the terms of the merger agreement, each share of FAIC common stock will be converted into the right to receive (i) 1.3472 shares of RBB common stock, and (ii) $15.30 in cash, which we refer to as the per share merger consideration, as specified in the merger agreement. Details concerning the merger consideration are described in detail in “THE MERGER AGREEMENT AND THE MERGER—THE MERGER AGREEMENT—Merger Consideration” on page 103.

The precise value of the per share merger consideration will not be known until shortly before the closing of the merger. Based on the closing price of RBB common stock as reported on the NASDAQ of $27.48 as of April 20, 2018, the trading day immediately preceding the public announcement of the merger, the implied merger consideration that a FAIC shareholder would be entitled to receive for each share of FAIC common stock owned would be $52.32 with an aggregate transaction value of approximately $117.0 million. Based on the closing price of RBB common stock as reported on the NASDAQ of $30.17 as of July 31, 2018, the latest practicable date before the date of this proxy statement/prospectus, the implied merger consideration that a FAIC shareholder would be entitled to receive for each share of FAIC common stock owned would be $55.95 with an aggregate transaction value of approximately $123.3 million.

Treatment of FAIC TARP Preferred Stock (See page 101)

The merger agreement provides that each outstanding share of FAIC’s Fixed Rate Cumulative Perpetual Preferred Stock, Series B (which we refer to as the “TARP Preferred Stock”) must be redeemed from the United States Department of the Treasury (which we refer to as the “Treasury”) at least five (5) business days prior to the close of the merger (which we refer to as the “TARP Redemption”). Pursuant to the terms of the merger agreement, if necessary, RBB has agreed to provide financing for the entire amount of the TARP Redemption for an interim period of up to one month.

Recommendation of First American International Corp.’s Board of Directors (See pages 79 to 81)

On April 22, 2018, the FAIC Board unanimously approved the merger agreement and the merger. Moreover, the FAIC Board has determined that the merger is in the best interest of FAIC shareholders. Accordingly, the FAIC Board unanimously recommends a vote “FOR” the merger proposal. The conclusions of the FAIC Board regarding the merger are based upon a number of factors which are discussed more fully under the section entitled “PROPOSAL NO. 1—THE MERGER AGREEMENT AND THE MERGER—THE MERGER—First American International Corp.’s Reasons for the Merger; Recommendation of FAIC’s Board of Directors” beginning on page 79.

Directors of First American International Corp. Have Entered into Voting Agreements (See page 116).

As of the record date, collectively, the members of the FAIC Board owned approximately 683,969 voting shares (not including vested option shares), or approximately 31.03%, of FAIC outstanding shares of common stock. FAIC directors have entered into separate written agreements in which they have agreed, among other things, to vote their shares “FOR” the approval of the merger agreement and the transactions contemplated therein. A copy of the form of voting agreement separately executed by each of the FAIC directors is attached as Exhibit C to the merger agreement which is attached to this proxy statement/prospectus as Appendix A and is incorporated herein by reference.

FAIC Special Meeting of Shareholders (See pages 68 to 71)

FAIC will hold a special meeting of shareholders at First American International Corp., 79 Bayard Street, New York, New York 10013, on September 20, 2018, at 9:00 a.m. (local time). The FAIC Board has set the close

of business on July 27, 2018, as the record date for determining shareholders entitled to notice of, and to vote at, the special meeting. On that date, there were 2,204,046 shares of FAIC common stock outstanding.

At the special meeting, holders of FAIC common stock will be asked to consider and vote on the following proposals:

Approval of a Majority of All Shares of First American International Corp. Stock Outstanding as of the Record Date is Required for the Merger to be Consummated (See page 69)

The affirmative vote of at least a majority of the shares of FAIC common stock outstanding as of the record date for the FAIC special meeting is required to approve the merger proposal.

Each share of FAIC common stock outstanding on the record date for the FAIC special meeting will be entitled to one vote for each share held. As of July 27, 2018, which is the record date for the FAIC special meeting, there were 2,204,046 shares of FAIC common stock outstanding. Therefore, at least 1,102,024 shares of FAIC common stock must be affirmatively voted in favor of the merger agreement in order for FAIC shareholders to approve the merger proposal. Abstentions, failures to vote and broker non-votes will have the same effect as votes “AGAINST” approval of the merger agreement. As of the record date, FAIC’s directors owned approximately 683,969 voting shares (not including vested option shares), or approximately 31.03%, of FAIC outstanding shares of common stock and have committed to vote these shares “FOR” the approval of the merger agreement and the merger.

Opinion of First American International Corp’s Financial Advisor (See pages 81 to 94)

In deciding to approve the merger, the FAIC Board considered, among other things, the opinion of Sandler O’Neill & Partners, L.P., FAIC’s financial advisor, regarding the fairness, from a financial point of view, of the merger consideration to be received by FAIC’s common shareholders as set forth in the merger agreement. The written opinion of Sandler O’Neill & Partners, L.P., which we sometimes refer to as Sandler O’Neill, is attached as Appendix C to this proxy statement/prospectus. You should read it carefully in its entirety to understand the assumptions made, matters considered and qualifications and limitations of the review undertaken by Sandler in providing its opinion. Sandler’s written opinion was addressed to the FAIC Board and does not constitute a recommendation as to how any holder of FAIC common stock should vote with respect to the merger agreement and the transactions contemplated therein.

Material U.S. Federal Income Tax Consequences of the Merger (See pages 119 to 123)

RBB and FAIC intend that the merger will qualify for U.S. federal income tax purposes as a “reorganization” within the meaning of Section 368(a) of the Internal Revenue Code. Assuming the merger qualifies as a “reorganization” under the Internal Revenue Code, then, in general, U.S. holders (as defined in the section entitled “MATERIAL U. S. FEDERAL INCOME TAX CONSEQUENCES OF THE MERGER” beginning on page 119) of FAIC common stock generally will recognize gain, but not loss, for U.S. federal income tax purposes upon receipt of the merger consideration in exchange for their shares of FAIC common stock in an amount equal to the lesser of (1) the amount of gain “realized” (i.e., the excess of the sum of the

amount of cash (excluding any cash received in lieu of a fractional share) and the fair market value of the RBB common stock received pursuant to the merger over the adjusted tax basis in the FAIC common stock surrendered), and (2) the amount of cash received by such holder (excluding any cash received in lieu of a fractional share). U.S. holders also will recognize gain or loss attributable to cash received in lieu of a fractional share of RBB common stock, as will U.S. holders who dissent and receive cash for their FAIC shares. For a description of the material U.S. federal income tax consequences of the merger, see “MATERIAL U. S. FEDERAL INCOME TAX CONSEQUENCES OF THE MERGER” beginning at page 119. FAIC shareholders are strongly urged to consult with their tax advisors concerning the U.S. federal income tax consequences of the merger to them, as well as the effects of state and local, foreign and other tax laws.

Conditions that Must Be Satisfied Prior to Closing of the Merger (See page 112 for RBB Bancorp and page 113 for First American International Corp.)

In addition to obtaining the necessary approval of the shareholders of FAIC, the parties’ obligations to close the merger depend on other conditions being met prior to the completion of the merger, including but not limited to:

Regulatory Approvals Must Be Obtained Before the Merger Will Be Completed (See pages 101 to 102)

RBB has agreed to use its reasonable best efforts to obtain all regulatory approvals required to complete the transactions contemplated by the merger agreement, including the approvals from the Federal Reserve, the FDIC, the CDBO, and the NYDFS. RBB and Royal Business Bank have filed the requisite applications to obtain the required regulatory approvals.

On July 26, 2018, the Federal Reserve granted RBB’s request to waive the filing of an application under Section 3 of the Bank Holding Company Act. The other requisite regulatory applications are currently pending.

First American International Corp.’s Directors and Executive Officers May Have Interests In The Merger That Differ From Interests Of First American International Corp’s Shareholders (See page 101 to 102)

FAIC directors and executive officers may have economic interests in the merger that are different from, or in addition to, their interests as FAIC shareholders. The FAIC Board considered these interests in its decision to

adopt and approve the merger agreement and to recommend approval of the merger agreement and the merger to FAIC shareholders. Some of the interests of FAIC directors and executive officers include:

You should consider these interests in conjunction with the recommendation of the FAIC Board with respect to approval of the merger. (See PROPOSAL NO. 1—THE MERGER AGREEMENT AND THE MERGER—THE MERGER—Interests of Directors and Officers in the Merger” beginning on page 94.

Closing of the Merger

If shareholder approval is received as planned, and if the conditions to the merger have either been satisfied or waived, we anticipate that the merger will close in the fourth quarter of 2018. However, we cannot assure you whether or when the merger will actually close.

Termination of the Merger Agreement (See pages 113 to 115)

The merger agreement may be terminated at any time by FAIC or RBB prior to the effective time of the merger under the following circumstances:

In addition, in the following circumstances, the merger agreement may be terminated by FAIC and/or RBB and FAIC has agreed to pay RBB a termination fee of $5,000,000:

For more information, please see “THE MERGER AGREEMENT AND THE MERGER—THE MERGER AGREEMENT—Termination—Termination Fee” beginning on page  114.

Accounting Treatment of the Merger (See page 118)

RBB will account for the merger using the acquisition method of accounting. Under this method of accounting, the assets and liabilities of FAIC acquired are recorded at fair value as of the completion of the merger, and are added to those of RBB.

RBB Bancorp’s and Royal Business Bank’s Management and Operations After the Merger (See page 94)

The directors and executive officers of RBB and Royal Business Bank immediately prior to the merger will continue to be the directors and executive officers of RBB and Royal Business Bank, respectively, after the merger. In addition, Mr. Raymond Yu, Chairman of the Board of FAIC, and one additional director from FAIC and FAIB will become directors of RBB and Royal Business Bank, with Mr. Yu being appointed as vice chairman of the boards of directors of RBB and Royal Business Bank. RBB will also appoint Jacqueline Kay, current chief operating officer of FAIB, as regional manager for the New York area operations.

Differences in the Rights as a Shareholder of First American International Corp. (See pages 276 to 283)

As a FAIC shareholder, your rights are currently governed by FAIC’s Certificate of Incorporation and Bylaws and by the NYBCL. If you do not exercise your dissenters’ rights, each share of FAIC common stock you hold at the closing of the merger will be converted into 1.3472 shares of RBB common stock and the right to receive $15.30 in cash. As a RBB shareholder, your rights will be thereafter governed by RBB’s Articles of Incorporation and Bylaws and by the CGCL. The rights of RBB shareholders differ from those of FAIC shareholders in certain respects. See “COMPARISON OF THE RIGHTS OF COMMON STOCK SHAREHOLDERS OF RBB BANCORP AND FIRST AMERICAN INTERNATIONAL CORP.” beginning on page 276 of this proxy statement/prospectus.

First American International Corp. Dissenters’ Rights (See pages 98 and 101)

FAIC shareholders have dissenters’ rights under the NYBCL in connection with the merger. FAIC shareholders who do not vote in favor of the adoption of the merger agreement and who otherwise comply with the applicable provisions of the NYBCL will be entitled to dissent from the merger and obtain payment of the fair value of their shares if the merger is completed. Any shares of FAIC common stock held by a shareholder

who has not voted in favor of the adoption of the merger agreement and who has exercised dissenters’ rights for such shares in accordance with the NYBCL, will not be converted into a right to receive the merger consideration, unless such shareholder fails to perfect, withdraws or otherwise loses such shareholder’s right to dissent under the NYBCL. If, after the consummation of the merger, such holder of FAIC common stock fails to perfect, withdraws or otherwise loses his or her or its rights to dissent, each such share will be treated as if it had been converted as of the consummation of the merger into a right to receive the merger consideration as shares that made no election. However, it is a condition to completing the transaction that FAIC shareholders exercise dissenters’ rights for not more than 15% of the outstanding shares of FAIC common stock.

You are encouraged to read these provisions carefully and in their entirety. Due to the complexity of the procedures for exercising dissenters’ rights, FAIC shareholders who are considering exercising such rights are encouraged to seek the advice of legal counsel. Failure to strictly comply with these provisions will result in the loss of dissenters’ rights. See “PROPOSAL NO. 1 — THE MERGER AGREEMENT AND THE MERGER — THE MERGER — Dissenters’ Rights of First American International Corp. Shareholders” beginning on page 98 of this proxy statement/prospectus for additional information and the text of Sections 623 and 910 of the NYBCL reproduced in their entirety as Appendix B to this proxy statement/prospectus.

FAIC’s Recent Developments-Preliminary Unaudited Second Quarter Financial Information

FAIC’s unaudited consolidated financial statements as of and for the three and six month periods ended June 30, 2018, are not yet available. The following preliminary financial information for the three and six month periods ended June 30, 2018, is based solely on management’s estimates, reflecting currently available preliminary information and remains subject to FAIC’s consideration of subsequent events, particularly as it relates to material estimates and assumptions used in preparing management’s estimates for the three and six month periods ended June 30, 2018. FAIC’s independent auditor, BDO USA, LLP, has not audited or performed review procedures, and does not express an opinion with respect to, the preliminary financial information set forth below.

The preliminary information set forth below is not a complete presentation of FAIC’s financial results for the three and six month periods ended June 30, 2018. FAIC’s unaudited consolidated financial statements as of and for the three and six month periods ended June 30, 2018 may differ materially from our estimates and interim balances indicated below. In addition, the estimates set forth in the following preliminary financial information constitute forward-looking statements and are subject to risks and uncertainties, including those described under “Risk Factors” in this proxy statement/prospectus. See “Risk Factors—Risks Related to Our Business” and “Cautionary Note Regarding Forward-Looking Statements.” The following preliminary financial information should be read together with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and FAIC’s consolidated financial statements and the related notes to those financial statements that are included elsewhere in this proxy statement/prospectus.

Earnings. FAIC expects to report net income available to common shareholders for the three months ended June 30, 2018, in the range of $0.3 million to $0.5 million, compared to net income of $2.8 million and $1.7 million for the three months ended March 31, 2018, and June 30, 2017, respectively. The expected decrease in net income is primarily attributable to higher gains on the sale of one-to-four family residential loans recognized in the prior quarters that are not expected to be recognized in the second quarter of 2018, and additional merger and merger-related expenses in the second quarter of 2018. FAIC also expects to report net income available to common shareholders in the range of $3.1 million to $3.3 million for the six months ended June 30, 2018, compared to $3.1 million for the six months ended June 30, 2017.

FAIC expects to report basic earnings per share available to common shareholders for the three months ended June 30, 2018, in the range of $0.17 to $0.19, compared to basic earnings per share available to common

shareholders of $1.27 for the three months ended March 31, 2018 and $0.79 for the three months ended June 30, 2017. FAIC also expects to report basic earnings per share available to common shareholders in the range of $1.44 to $1.46 for the six months ended June 30, 2018, compared to $1.42 for the six months ended June 30, 2017.

For the three months ended June 30, 2018, FAIC expects to report return on average assets in the range of 0.17% to 0.19%, compared to return on average assets of 1.26% for the three months ended March 31, 2018, and 0.80% for the three months ended June 30, 2017. FAIC also expects to report return on average assets in the range of 0.71% to 0.74% for the six months ended June 30, 2018, compared to 0.73% for the six months ended June 30, 2017.

Credit Quality. FAIC expects to report a ratio of nonperforming assets to total assets in the range of 0.24% to 0.26% as of June 30, 2018, compared to 0.30% and 0.31% as of March 31, 2018 and December 31, 2017, respectively. Additionally, FAIC expects to report net recoveries of $60,000 for the three months ended June 30, 2018, compared with net recoveries of $5,000 for the three months ended March 31, 2018.

Balance Sheet. FAIC expects to report that total assets at June 30, 2018 were $879.5 million, representing a $10.1 million decrease from March 31, 2018 and a $6.6 million increase from December 31, 2017.

FAIC expects to report that total loans receivable, net, at June 30, 2018 were $700.3 million, representing a $16.7 million increase from March 31, 2018, and a $4.4 million decrease from December 31, 2017.

FAIC expects to report that total deposits were $638.7 million as of June 30, 2018, representing a decrease of $10.8 million from March 31, 2018, and an $8.9 million increase from December 31, 2017.

FAIC also expects to report total shareholders’ equity in the range of $82.5 million to $82.7 million as of June 30, 2018, compared to $82.1 million and $79.3 million as of March 31, 2018 and December 31, 2017, respectively. Additionally, FAIC expects to report book value per common share in the range of $29.78 to $29.80 as of June 30, 2018, compared to $29.61 and $28.39 as of March 31, 2018 and December 31, 2017, respectively. FAIC calculates book value per common share as total shareholders’ equity at the end of the relevant period less the net book value of preferred stock, divided by the outstanding number of FAIC’s common shares at the end of each period. The net book value of preferred stock equals $17.0 million less the unaccreted discount. The unaccreted discount as of June 30, 2018, March 31, 2018 and December 31, 2017 was $0, $125,926 and $250,297, respectively.

FAIC expects its capital ratios at June 30, 2018 to continue to exceed all regulatory minimums and FAIB to remain categorized as “well-capitalized.”

Risk Factors (See pages 31 to 65)

You should consider all the information contained in this proxy statement/prospectus in deciding how to vote for the proposals presented in this proxy statement/prospectus. In particular, you should consider the factors described under “Risk Factors” beginning on page 31.

SELECTED HISTORICAL FINANCIAL DATA

The following tables present selected consolidated historical financial data of RBB and selected consolidated historical financial data of FAIC.

Selected Consolidated Historical Financial Data of RBB Bancorp

The following table sets forth RBB’s summary historical consolidated financial data as of the dates and for the periods shown. The summary consolidated balance sheet data as of March 31, 2018 and 2017, December 31, 2017 and 2016 and the summary consolidated income statement data for the years ended December 31, 2017 and 2016 have been derived from RBB’s audited consolidated financial statements included elsewhere in this document.

Selected Consolidated Historical Financial Data of First American International Corp.

The following tables set forth selected historical financial and other data of FAIC for the periods and at the dates indicated. The financial data as of and for the years ended December 31, 2017 and 2016 has been derived from the audited consolidated financial statements and notes thereto of FAIC included elsewhere in this proxy statement/prospectus. The information as of and for the year ended December 31, 2015 has been derived from FAIC’s audited consolidated financial statements which are not included in this proxy statement/prospectus. The financial data as of and for the three months ended March 31, 2018 and 2017 has been derived from FAIC’s unaudited consolidated financial statements included elsewhere in this proxy statement/prospectus. In the opinion of management, all adjustments, consisting of normal recurring adjustments necessary for a fair presentation of the results of operations for the unaudited periods, have been made. The selected operating data presented below for the three months ended March 31, 2018 and 2017 does not necessarily indicate the results that may be expected for future periods.

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UNAUDITED PRO FORMA COMBINED CONSOLIDATED FINANCIAL INFORMATION AND DATA

The following unaudited preliminary pro forma combined condensed consolidated balance sheets as of March 31, 2018 combines the historical consolidated balance sheets of FAIC and RBB (i) on an actual historical basis and (ii) assuming the completion of the merger at March 31, 2018, using the acquisition method of accounting and giving effect to the related pro forma adjustments described in the accompanying Notes to the Unaudited Pro Forma Combined Condensed Consolidated Financial Statements. The following Unaudited Pro Forma Combined Condensed Consolidated Statements of Operations for both the three months ended March 31, 2018 and the year ended December 31, 2017 combine the historical Consolidated Statements of Operations of RBB and the historical Consolidated Statements of Income of FAIC for such respective periods, giving effect to the merger as if the merger had become effective on January 1, 2017 using the acquisition method of accounting and giving effect to the pro forma adjustments described in the accompanying Notes to the Unaudited Pro Forma Combined Condensed Consolidated Financial Statements.

Although pro forma financial information is not a measurement of performance calculated in accordance with GAAP, RBB and FAIC believe that pro forma financial information is important because it gives effect to the merger. The unaudited pro forma combined condensed consolidated financial information included in this proxy statement/prospectus are presented for informational purposes only. This information includes various estimates and may not necessarily be indicative of the financial condition or results of operations that would have occurred if the merger had been completed at the beginning of the periods indicated or which may be obtained in the future.

The unaudited pro forma combined condensed consolidated financial information has been derived from and should be read in conjunction with the historical consolidated financial statements and the related notes of RBB and FAIC. The historical consolidated financial statements of RBB are filed with the SEC and attached as Appendix D and Appendix E to this prospectus/consent solicitation statement. The historical consolidated financial statements of FAIC are included elsewhere in this proxy statement/prospectus. The pro forma information, while helpful in illustrating the financial characteristics of the combined company under one set of assumptions, does not reflect the opportunities to earn additional revenue and does not include assumptions as to cost savings and, accordingly, does not attempt to predict or suggest future results.

THIS PRO FORMA DATA IS PRESENTED FOR ILLUSTRATIVE PURPOSES ONLY, DOES NOT INDICATE THE FINANCIAL AND OPERATING RESULTS THAT RBB WOULD HAVE ACHIEVED HAD IT COMPLETED THE MERGER AS OF THE BEGINNING OF THE PERIOD PRESENTED AND SHOULD NOT BE CONSIDERED AS REPRESENTATIVE OF FUTURE OPERATIONS OR THE FUTURE FINANCIAL POSITION OF THE COMBINED ENTITIES. THE ADJUSTMENTS MADE IN THE UNAUDITED PRO FORMA COMBINED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS, WHICH ARE DESCRIBED IN THESE NOTES, ARE PRELIMINARY AND MAY BE REVISED.

Unaudited Pro Forma Combined Condensed Consolidated Balance Sheets as of March 31, 2018

The accompanying Notes are an integral part of the

Unaudited Pro Forma Combined Condensed Consolidated Financial Information.

Unaudited Pro Forma Combined Condensed Consolidated Statements of Income

for the Three Months Ended March 31, 2018 and Year Ended December 31, 2017