0001437749-21-005417 | 10-K | XBRL Viewer

Nature of Operations [Text Block]

NOTE 1 - BUSINESS DESCRIPTION

RBB Bancorp is a financial holding company registered under the Bank Holding Company Act of 1956, as amended. RBB Bancorp’s principal business is to serve as the holding company for its wholly-owned banking subsidiaries, Royal Business Bank ("Bank") and RBB Asset Management Company ("RAM"), collectively referred to herein as "the Company". At December 31, 2020, the Company had total assets of $3.4 billion, gross consolidated loans (held for investment and held for sale) of $2.8 billion, total deposits of $2.6 billion and total stockholders' equity of $428.5 million. On July 31, 2017, the Company completed its initial public offering of 3,750,000 shares at a price to the public of $23.00 per share. The Company’s stock trades on the Nasdaq Global Select Market under the symbol “RBB”.

The Bank provides business-banking services to the Chinese-American communities in Los Angeles County, Orange County, Ventura County and in the Las Vegas, New York City metropolitan area, Chicago and Edison (New Jersey). Specific services include remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, Small Business Administration (“SBA”) 7A and 504 loans, mortgage loans, trade finance and a full range of depository accounts.

The Company operates full-service banking offices in Arcadia, Cerritos, Diamond Bar, Irvine, Los Angeles, Monterey Park, Oxnard, Rowland Heights, San Gabriel, Silver Lake, Torrance, and Westlake Village, California; Las Vegas, Nevada; Manhattan, Brooklyn, Flushing and Elmhurst, New York; the Chinatown and Bridgeport neighborhoods of Chicago, Illinois; and Edison, New Jersey. The Company's primary source of revenue is providing loans to customers, who are predominately small and middle-market businesses and individuals.

The Company generates its revenue primarily from interest received on loans and leases and, to a lesser extent, from interest received on investment securities. The Company also derives income from noninterest sources, such as fees received in connection with various lending and deposit services, loan servicing, gain on sales of loans and wealth management services. The Company’s principle expenses include interest expense on deposits and subordinated debentures, and operating expenses, such as salaries and employee benefits, occupancy and equipment, data processing, and income tax expense.

As part of the FAIC acquisition, the Company acquired FAIB Capital Corp. (FAICC) that was formed on January 29, 2014. FAICC is a real estate investment trust subsidiary of the Bank.

The Company has completed six acquisitions from July 8, 2011 through January 10, 2020, including the acquisition of Pacific Global Bank Holdings, Inc. (“PGBH”) and its wholly-owned subsidiary, Pacific Global Bank (“PGB”), in which the PGBH acquisition closed on January 10, 2020. PGB operated three branches in the Chicago neighborhoods of Chinatown and Bridgeport. All of the Company’s acquisitions have been accounted for using the acquisition method of accounting and, accordingly, the operating results of the acquired entities have been included in the consolidated financial statements from their respective acquisition dates.

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Basis of Presentation and Significant Accounting Policies [Text Block]

NOTE 2 - BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying consolidated financial statements and notes thereto of the Company have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) for Form 10-K and conform to practices within the banking industry and include all of the information and disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for financial reporting.

Principles of Consolidation and Nature of Operations

The accompanying consolidated financial statements include the accounts of RBB Bancorp and its wholly-owned subsidiaries Royal Business Bank ("Bank") and RBB Asset Management Company ("RAM"), collectively referred to herein as "the Company". All significant intercompany transactions have been eliminated.

RBB Bancorp was formed in January 2011 as a bank holding company, and in 2018 changed to a financial holding company. RAM was formed in 2012 to hold and manage problem assets acquired in business combinations.

In connection with the 2018 acquisition of FAIC, the Company acquired a real estate investment trust (“REIT”) as a subsidiary of the Bank and is a New York State corporation. In addition to the REIT, the Company acquired four inactive subsidiaries: FAIC Insurance Services (a New York corporation formed in 2006), P4G8, LLC, FAIB Reacquisitions I, LLC and FAIB REO Acquisition II, LLC. FAIC Insurance services was dissolved in January 2020; the other three were dissolved in 2019.

We acquired three statutory business trusts: TFC Statutory Trust in 2016, FAIC Statutory Trust in 2018 and PGB Capital Trust I in 2020. These trusts issued trust preferred securities representing undivided preferred beneficial interests in the assets of the Trusts. The proceeds of these trust preferred securities were invested in certain securities issued by us, with similar terms to the relevant series of securities issued by the Trusts, which we refer to as subordinated debentures.

RBB Bancorp has no significant business activity other than its investments in Royal Business Bank and RAM. Parent only condensed financial information on RBB Bancorp is provided in Note 22.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. It is reasonably possible our estimate of the allowance for loan losses and the fair value of mortgage servicing rights could change as actual results could differ from those estimates.

Cash and Cash Equivalents

Cash and cash equivalents include cash and due from banks, term federal funds sold and interest-bearing deposits in other financial institutions with original maturities of less than 90 days. Net cash flows are reported for customer loan and deposit transactions and interest-bearing deposits in other financial institutions.

Cash and Due from Banks

Banking regulations require that banks maintain a percentage of their deposits as reserves in cash or on deposit with the Federal Reserve Bank. The reserves required to be held as of December 31, 2020 and 2019 was none and $29.5 million, respectively. The Company maintains amounts in due from bank accounts, which may exceed federally insured limits. The Company has not experienced any losses in such accounts.

Interest-Earning Deposits in Other Financial Institutions

Interest-bearing deposits in other financial institutions not included in cash and cash equivalents are carried at cost and generally mature in one year or less.

Investment Securities

Investment securities are classified as held to maturity and carried at amortized cost when management has the positive intent and ability to hold them to maturity. Debt securities not classified as held to maturity are classified as available for sale. Securities available for sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income, net of tax.

Interest income includes amortization of purchase premiums or discounts. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments. Gains and losses on sales are recorded on the trade date and determined using the specific identification method.

Management evaluates debt securities for other-than-temporary impairment ("OTTI") on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows; OTTI related to credit loss, which must be recognized in the income statement and; OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis.

Loans Held For Sale

Mortgage loans originated or acquired and intended for sale in the secondary market are carried at the lower of aggregate cost or fair value, as determined by outstanding commitments from investors. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Loans held for sale consist primarily of first trust deed mortgages on single-family residential properties located in California and New York.

Mortgage loans held for sale are generally sold with servicing rights retained. The carrying value of mortgage loans sold is determined by reducing the amount allocated to the servicing right, when applicable. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loans sold.

Loans

Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding unpaid principal balances reduced by any charge-offs or specific valuation accounts and net of any deferred fees or costs on originated loans, or unamortized premiums or discounts on purchased loans. Loan origination fees and certain direct origination costs are deferred and recognized in interest income using the level-yield method without anticipating prepayments.

Premiums and discounts on loans purchased are grouped by type and certain common risk characteristics and amortized or accreted as an adjustment of yield over the weighted-average remaining contractual lives of each group of loans, adjusted for prepayments when applicable, using methodologies which approximate the interest method.

Loans on which the accrual of interest has been discontinued are designated as nonaccrual loans. The accrual of interest on loans is discontinued when principal or interest is past due 90 days or when, in the opinion of management, there is reasonable doubt as to collectability based on contractual terms of the loan. When loans are placed on nonaccrual status, all interest previously accrued but not collected is reversed against current period interest income. Income on nonaccrual loans is subsequently recognized only to the extent that cash is received and the loan's principal balance is deemed collectible. Interest accruals are resumed on such loans only when they are brought current with respect to interest and principal and when, in the judgment of management, the loans are estimated to be fully collectible as to all principal and interest.

Allowance for Loan Losses

The allowance for loan losses is a valuation allowance for probable incurred credit losses. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations and estimated collateral values, economic conditions, and other factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management's judgment, should be charged-off. Amounts are charged-off when available information confirms that specific loans or portions thereof, are uncollectible. This methodology for determining charge-offs is consistently applied to each segment.

The Company determines a separate allowance for each portfolio segment. The allowance consists of specific and general reserves. Specific reserves relate to loans that are individually classified as impaired. A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status, collateral value and the probability of collecting all amounts when due. Measurement of impairment is based on the expected future cash flows of an impaired loan, which are to be discounted at the loan's effective interest rate, or measured by reference to an observable market value, if one exists, or the fair value of the collateral for a collateral-dependent loan. The Company selects the measurement method on a loan-by-loan basis except that collateral-dependent loans for which foreclosure is probable are measured at the fair value of the collateral.

The Company recognizes interest income on impaired loans based on its existing methods of recognizing interest income on nonaccrual loans. Loans, for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and classified as impaired with measurement of impairment as described above.

If a loan is impaired, a portion of the allowance is allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan's existing rate or at the fair value of collateral if repayment is expected solely from the collateral.

General reserves cover non-impaired loans and are based on historical loss rates of peer institutions for each portfolio segment, adjusted for the effects of qualitative or environmental factors that are likely to cause estimated credit losses as of the evaluation date to differ from the portfolio segment's historical loss experience. Qualitative factors include consideration of the following: changes in lending policies and procedures; changes in economic conditions, changes in the nature and volume of the portfolio; changes in the experience, ability and depth of lending management and other relevant staff; changes in the volume and severity of past due, nonaccrual and other adversely graded loans; changes in the loan review system; changes in the value of the underlying collateral for collateral-dependent loans; concentrations of credit and the effect of other external factors such as competition and legal and regulatory requirements.

Portfolio segments identified by the Company include real estate, commercial and other loans. Relevant risk characteristics for these portfolio segments generally include debt service coverage, loan-to-value ratios, and financial performance.

Certain Acquired Loans

As part of business acquisitions, the Company acquires certain loans that have shown evidence of credit deterioration since origination. These acquired loans are recorded at the allocated fair value, such that there is no carryover of the seller's allowance for loan losses. Such acquired loans are accounted for individually. The Company estimates the amount and timing of expected cash flows for each purchased loan, and the expected cash flows in excess of the allocated fair value is recorded as interest income over the remaining life of the loan (accretable yield). The excess of the loan's contractual principal and interest over expected cash flows is not recorded (non-accretable difference). Over the life of the loan, expected cash flows continue to be estimated. If the present value of expected cash flows is less than the carrying amount, a loss is recorded through the allowance for loan losses. If the present value of expected cash flows is greater than the carrying amount, it is recognized as part of future interest income.

Servicing Rights

When mortgage and Small Business Administration ("SBA") loans are sold with servicing retained, servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on a valuation model that calculates the present value of estimated future net servicing income. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans.

Servicing rights are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income.

Servicing fee income, which is reported on the income statement as loan servicing fees, net of amortization, is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal. The amortization of mortgage servicing rights is netted against loan servicing fee income.

Transfers of Financial Assets

Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.

Gains on sales of mortgage, SBA and CRE loans totaled $6.0 million, $9.9 million, and $7.1 million in 2020, 2019 and 2018, respectively. Gains on sale of mortgage loans totaled $5.2 million, $8.2 million, and $4.3 million, and gains on sale of SBA loans totaled $754,000, $1.5 million, and $2.8 million in 2020, 2019, and 2018, respectively. Gains on sale of CRE totaled none in 2020, $152,000 in 2019 and none in 2018.

Premises and Equipment

Land is carried at cost. Premises, leasehold improvements and equipment are carried at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives, which is thirty years for premises and ranges from three to ten years for leasehold improvements and equipment. Leasehold improvements are amortized using the straight-line method over the estimated useful lives of the improvements or the remaining lease term, whichever is shorter. Expenditures for betterments or major repairs are capitalized and those for ordinary repairs and maintenance are charged to operations as incurred.

Other Real Estate Owned

Real estate acquired by foreclosure or deed in lieu of foreclosure is recorded at fair value at the date of foreclosure, establishing a new cost basis by a charge to the allowance for loan losses, if necessary. Other real estate owned is carried at the lower of the Company's carrying value of the property or its fair value, less estimated carrying costs and costs of disposition. Fair value is based on current appraisals less estimated selling costs. Any subsequent write-downs are charged against operating expenses and recognized as a valuation allowance. Operating expenses and related income of such properties and gains and losses on their disposition are included in other operating income and expenses.

Goodwill and Other Intangible Assets

Goodwill is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill resulting from whole bank acquisitions is not amortized, but tested for impairment at least annually. The Company has selected December 31 as the date to perform the annual impairment test. Goodwill amounted to $69.2 million and $58.6 million as of December 31, 2020 and 2019, respectively, and is the only intangible asset with an indefinite life on the balance sheet. No impairment was recognized on goodwill during 2020 and 2019.

Other intangible assets consist of core deposit intangible ("CDI") assets arising from whole bank acquisitions. CDI assets are amortized on an accelerated method over their estimated useful life of 8 to 10 years. CDI was recognized in the 2013 acquisition of Los Angeles National Bank, in the 2016 acquisition of TFC Holding Company, in the 2018 acquisition of FAIC and in the 2020 acquisition of PGBH. The unamortized balance as of December 31, 2020 and 2019 was $5.2 million and $6.1 million, respectively. Accumulated amortization as of December 31, 2020 and 2019 was $4.5 million and $3.1 million, respectively. CDI amortization expense was $1.4 million, $1.5 million, and $575,000 in 2020, 2019 and 2018, respectively.

Estimated CDI amortization expense for the next 5 years is as follows:

(dollars in thousands)

Year ending December 31:

2021
$ 1,121

2022
936

2023
800

2024
683

2025
589

Thereafter
1,067

Total
$ 5,196

Bank Owned Life Insurance

The Company has purchased life insurance policies on a select group of employees and directors. Bank owned life insurance (“BOLI”) is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Increases of the cash value of these policies, as well as insurance proceeds received, are recorded in the other noninterest income and are not subject to income tax for as long as they are held for the life of the covered employee and director.

FHLB Stock and Other Equity Securities

The Company is a member of the FHLB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income.

The Company also owns equity investment in banker’s bank stock. The Company adopted ASU 2016-01 on January 1, 2019, and elected the measurement alternative for measuring equity securities without readily determinable fair values at cost less impairment, plus or minus observable price changes in orderly transactions.

As of December 31, 2020 the Company had several CRA equity investments without readily determinable fair values in the amount of $14.9 million, and $11.8 million at December 31, 2019.

Stock-Based Compensation

Stock option compensation expense is calculated based on the fair value of the award at the grant date for those options expected to vest and is recognized as an expense over the vesting period of the grant using the straight-line method. The Company uses the Black-Scholes option pricing model to estimate the value of granted options. This model takes into account the option exercise price, the expected life, the current price of the underlying stock, the expected volatility of the Company’s stock, expected dividends on the stock and a risk-free interest rate. The Company estimates the expected volatility based on the Company’s historical stock prices for the period corresponding to the expected life of the stock options. Restricted stock units are valued at the closing price of the Company’s stock on the date of the grant. Compensation cost is recognized for stock options and restricted stock awards issued to employees and directors, based on the fair value of these awards. This cost is recognized over the period which an employee is required to provide services in exchange for the award, generally defined as the vesting period. When the options are exercised, the Company’s policy is to issue new shares of stock. The Company’s accounting policy is to recognize forfeitures as they occur.

Income Taxes

The Company files its income taxes on a consolidated basis with its subsidiaries. The allocation of income tax expense represents each entity’s proportionate share of the consolidated provision for income taxes. Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. Tax effects from an uncertain tax position are recognized in the financial statements only if, based on its merits, the position is more likely than not to be sustained on audit by the taxing authorities. Interest and penalties related to uncertain tax positions are recorded as part of income tax expense.

Retirement Plans

The Company established a 401(k) plan in 2010. The Company contributed $424,000, $570,000, and $341,000 in 2020, 2019 and 2018, respectively.

Comprehensive Income

Comprehensive income consists of net income and other comprehensive income. Other comprehensive income includes unrealized gains and losses on securities available for sale.

Financial Instruments

In the ordinary course of business, the Company has entered into off-balance sheet financial instruments consisting of commitments to extend credit, commercial letters of credit, and standby letters of credit as described in Note 13. Such financial instruments are recorded in the financial statements when they are funded.

Derivatives

Interest Rate Lock Commitments (IRLCs) are agreements under which the Company agrees to extend credit to a borrower under certain specified terms and conditions in which the interest rate and the maximum amount of the loan are set prior to funding. Under the agreement, the Company commits to lend funds to a potential borrower (subject to the Company’s approval of the loan) on a fixed or adjustable rate basis, regardless of whether interest rates change in the market, or on a floating rate basis. As such, outstanding IRLCs are subject to interest rate risk and related price risk during the period from the date of issuance through the date of loan funding, cancelling or expiration. Loan commitments generally range between 30 and 90 days; however, the borrower is not obligated to obtain the loan. The Company is subject to fallout risk related to IRLCs , which is realized if approved borrowers choose not to close on the loans within the terms of the IRLCs. The Company uses best efforts commitments to substantially eliminate these risks. Historical commitment-to-closing ratios are considered to estimate the quantity of mortgage loans that will fund within the terms of the IRLCs.

The FASB Accounting Standards Codification (“FASB ASC”) provides that IRLCs on mortgage loans that will be held for resale are derivatives and must be accounted for at fair value on the balance sheet (if material). FASB ASC Topic 820 – Fair Value Measurements and Disclosures specifies how these derivatives are to be valued. Commitments to originate mortgage loans to be held for investment and other types of loans are generally not derivatives. Consequently, the Company has elected to account for these obligations at fair value.

Forward Mortgage Loan Sale Contracts (FMLSC) were utilized to avoid interest rate risk at the time an interest rate lock commitment is made to the buyer. The Company is subject to interest rate and price risk on its mortgage loans held for sale from the loan funding date until the date the loan is sold. Best efforts commitments which fix the forward the forward sales price that will be realized in the secondary market are used to eliminate the interest rate and price risk to the Company. The buyer can enter into mortgage loan sales commitments on a “mandatory” or “best efforts” basis. Mandatory commitments provide that the loan must be delivered or the commitment be “paired off”. In general, best efforts commitments provide that the loan be delivered if and when it closes. Mandatory delivery commitments, also known as forward loan sales commitments, are considered to be derivatives under FASB ASC Topic 815 (Derivatives and Hedging) because they meet all of the following criteria:

●

They have a specified underlying (the contractually specified price for the loans)

●

They have a notional amount (the committed loan principal amount)

●

They require little or no initial net investment

●

They require or permit net settlement as the institution via a pair-off transaction or the payment of a pair-off fee.

Earnings Per Share ("EPS")

Basic and diluted EPS are calculated using the two-class method since the Company has issued share-based payment awards considered participating securities because they entitle holders the rights to dividends during the vesting term. The two-class method is an earnings allocation formula that determines net income per share for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. Basic EPS excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity.

Fair Value Measurement

Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Current accounting guidance establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair values:

Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3: Significant unobservable inputs that reflect the Company's own assumptions about the assumptions that market participants would use in pricing an asset or liability.

See Note 17 and Note 18 for more information and disclosures relating to the Company's fair value measurements.

Operating Segments

Management has determined that since generally all of the banking products and services offered by the Company are available in each branch of the Bank, all branches are located within the same economic environment and management does not allocate resources based on the performance of different lending or transaction activities, it is appropriate to aggregate the Bank branches and report them as a single operating segment.

Recent Accounting Pronouncements

When RBB conducted its IPO in 2017, we qualified as an emerging growth company (“EGC”). We will remain an EGC until the earliest of (i) the end of the fiscal year during which we have total annual gross revenues of $1.0 billion or more, (ii) the end of the fiscal year following the fifth anniversary of the completion of our IPO, (iii) the date on which we have, during the previous three-year period, issued more than $1.0 billion in non-convertible debt and (iv) the date on which we are deemed to be a “large accelerated filer” under the Securities Exchange Act of 1934, as amended. We will no longer qualify as an EGC on December 31, 2022. EGCs are entitled to reduced regulatory and reporting requirements under the Securities Act and the Exchange Act.

In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU" or “Update”) 2014-09, Revenue from Contracts with Customers (Topic 606). This Update requires an entity to recognize revenue as performance obligations are met, in order to reflect the transfer of promised goods or services to customers in an amount that reflects the consideration the entity is entitled to receive for those goods or services. The following steps are applied in the updated guidance: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, the entity satisfies a performance obligation. These amendments are effective for public business entities for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Our revenue is primarily comprised of net interest income on financial assets and financial liabilities, which is explicitly excluded from the scope of ASU 2014-09, and non-interest income. Accordingly, the majority of the Company’s revenues will not be affected. In addition, the standard does not materially impact the timing or measurement of the Company’s revenue recognition as it is consistent with the Company’s existing accounting for contracts within the scope of the standard. As an emerging growth company, the Company adopted ASU 2014-09 as of January 1, 2019, utilizing the modified prospective approach. Refer to Note 20 - Revenue from Contracts with Customers.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The most significant change for lessees is the requirement under the new guidance to recognize right-of-use assets and lease liabilities for all leases not considered short-term leases, which is generally defined as a lease term of less than 12 months. This change will result in lessees recognizing right-of-use assets and lease liabilities for most leases currently accounted for as operating leases under current lease accounting guidance. The amendments in this Update are effective for annual periods beginning after December 15, 2020 and for interim periods beginning after December 15, 2021, for an emerging growth company as the effective date was deferred by the FASB. The Company has several lease agreements which are currently considered operating leases and are therefore not included on the Company’s Consolidated Balance Sheets. Under the new guidance the Company will recognize on the Consolidated Balance Sheets right-of-use assets with a corresponding lease liability. With the Company’s current leases, we anticipate recording the right-of-use asset and lease liability of approximately $26.7 million as of the January 1, 2021 adoption date.

In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instrument (Topic 326), including subsequent amending ASUs. This ASU significantly changes how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The standard will replace today's "incurred loss" approach with an "expected loss" model. The new model, referred to as the current expected credit loss ("CECL") model, will apply to: (1) financial assets subject to credit losses and measured at amortized cost, and (2) certain off-balance sheet credit exposures. This includes, but is not limited to, loans, leases, held to maturity securities, loan commitments, and financial guarantees. For available for sale (“AFS”) debt securities with unrealized losses, entities will measure credit losses in a manner similar to what they do today, except that the losses will be recognized as allowances rather than reductions in the amortized cost of the securities. ASU 2016-13 also expands the disclosure requirements regarding an entity's assumptions, models, and methods for estimating the allowance for loan and lease losses. In addition, public business entities will need to disclose the amortized cost balance for each class of financial asset by credit quality indicator, disaggregated by the year of origination. ASU 2016-13 was originally proposed to be effective for interim and annual reporting periods for an emerging growth company beginning after December 15, 2020 (however, see below). Entities will apply the standard's provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (i.e., modified retrospective approach). The Company has begun its evaluation of the impact of the implementation of ASU 2016-13. The implementation of the provisions of ASU 2016-13 will most likely impact the Company’s consolidated financial statements as to the level of reserves that will be required for credit losses. The Company will continue to assess the potential impact that this Update will have on the Company’s consolidated financial statements. The Company will adopt CECL (ASU 2016-13) on December 31, 2022.

In February 2019, the U.S. federal bank regulatory agencies approved a final rule modifying their regulatory capital rules and providing an option to phase in over a three year period the day-one adverse regulatory capital effects of ASU 2016-13. Additionally, in March 2020, the U.S. federal bank regulatory agencies issued an interim final rule that provides banking organizations an option to delay the estimated CECL impact on regulatory capital for an additional two years for a total transition period of up to five years to provide regulatory relief to banking organizations to better focus on supporting lending to creditworthy households and businesses in light of recent strains on the U.S. economy as a result of the novel coronavirus disease 2019 ("COVID-19") pandemic. As a result, entities will have the option to gradually phase in the full effect of CECL on regulatory capital over a five-year transition period.

In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350). This Update simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. The amendments in this Update are required for public business entities and other entities that have goodwill reported in their financial statements and have not elected the private company alternative for the subsequent measurement of goodwill. As a result, under this Update, “an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit.” The Company will adopt this ASU on December 31, 2022. Adoption of ASU 2017-04 is not expected to have a significant impact on the Company’s consolidated financial statements.

In March 2017, the FASB issued ASU 2017-08, Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities, which is intended to enhance “the accounting for the amortization of premiums for purchased callable debt securities.” This Update shortens the amortization period for certain callable debt securities purchased at a premium by requiring that the premium be amortized to the earliest call date. Under current GAAP, entities generally amortize the premium as an adjustment of yield over the contractual life of the instrument. The amendments in this Update affects all entities that hold investments in callable debt securities that have an amortized cost basis in excess of the amount that is repayable by the issuer at the earliest call date (that is, at a premium). The amendment does not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The Company early adopted this guidance on January 1, 2018 since the accounting of the Company’s purchased callable debt securities have been consistent with the requirements of ASU 2017-08. The adoption did not have a material impact on the Company’s consolidated financial statements.

In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. The amendments in this Update expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from non-employees. An entity should apply the requirements of Topic 718 to non-employee awards except for specific guidance on inputs to an option pricing model and the attribution of cost (that is, the period of time over which share-based payment awards vest and the pattern of cost recognition over that period). The amendments specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. The amendments also clarify that Topic 718 does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts with Customers. For emerging growth companies, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. This Update has the potential to only impact share-based payments to the Company’s non-employees. The Company adopted this ASU on January 1, 2020 and this ASU did not have a material impact on the Company’s consolidated financial statements.

In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement. The amendments in this Update modify the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement, based on the concepts in the Concepts Statement, including the consideration of costs and benefits. These disclosure requirements were removed from the topic: (1) The amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, (2) the policy for timing of transfers between levels, and (3) the valuation processes for Level 3 fair value measurements. These disclosure requirements were modified: (1) For investments in certain entities that calculate net asset value, an entity is required to disclose the timing of liquidation of an investee’s assets and the date when restrictions from redemption might lapse only if the investee has communicated the timing to the entity or announced the timing publicly, and (2) the amendments clarify that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date. The following disclosure requirements were added: (1) The changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period, (2) the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. For certain unobservable inputs, an entity may disclose other quantitative information (such as the median or arithmetic average) in lieu of the weighted average if the entity determines that other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop Level 3 fair value measurements. In addition, the amendments eliminate “at a minimum” from the phrase “an entity shall disclose at a minimum to promote the appropriate exercise of discretion by entities when considering fair value measurement disclosures and to clarify that materiality is an appropriate consideration of entities and their auditors when evaluating disclosure requirements”. The amendments in this Update are effective for emerging growth companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted upon issuance of this Update. An entity is permitted to early adopt any removed or modified disclosures upon issuance of this Update and delay adoption of the additional disclosures until their effective date. As an EGC, RBB adopted this Update on January 1, 2020 and it did not have a material impact on the Company’s consolidated financial statements.

In August 2018, the FASB issued ASU 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This Update provides additional guidance to ASU 2015-05, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement” (CCA), on the accounting for implementation, setup, and other upfront costs (collectively referred to as implementation costs) apply to entities that are a customer in a hosting arrangement. This Update applies to entities that are a customer in a hosting arrangement, which is a service contract. Costs for implementation activities in the application development stage are capitalized depending on the nature of the costs, while costs incurred during the preliminary project and post-implementation stages are expensed as the activities are performed. This Update also require the customer to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement. This Update is effective for an EGC for annual reporting periods beginning after December 15, 2020, and interim periods within annual periods beginning after December 15, 2021. Early adoption of the amendments in this Update is permitted, including adoption in any interim period, for all entities. The amendments in this Update should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. This Update could be material should RBB incur implementation costs for a CCA that is a service contract.

In November 2019, the FASB issued ASU 2019-08, Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606), Codification Improvements—Share-Based Consideration Payable to a Customer. This ASU will affect companies that issue share-based payments (e.g., options or warrants) to their customers. In June 2018, the FASB issued ASU 2018-07 that expanded the scope of Topic 718, Compensation—Stock Compensation, to include share-based payments to non-employees in exchange for goods and services. That ASU substantially aligned the accounting for share-based payments to non-employees and employees. However, it required share-based payments to nonemployee customers to be accounted for under Topic 606, Revenue from Contracts with Customers, as a reduction of revenue, similar to other sales incentives (such as coupons and rebates). While that ASU provided guidance on the income statement classification of payments to customers (as a reduction of revenue), that ASU did not specify when to measure such awards or how to classify awards on the balance sheet (for example as a liability or as equity). To address diversity in these areas, the new guidance requires companies to measure and classify (on the balance sheet) share-based payments to customers by applying the guidance in Topic 718. As a result, the amount recorded as a reduction in revenue would be measured based on the grant-date fair value of the share-based payment. ASU 2019-08 is effective for entities that have not yet adopted the amendments in ASU 2018-07, the amendments in ASU 2019-08 are effective for an EGC in fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. The Company adopted the ASU as of December 31, 2019 and this ASU did not have a material impact on the Company’s financial statements as the Company has not issued share-based payments to non-employees, except for non-employee members of the board of directors.

In November 2019, the FASB issued ASU 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842), Effective Dates. In July 2017, British banking regulators announced plans to eliminate the LIBOR rate by the end of 2021. The purpose of the ASU is to facilitate the effects of reference rate reform on financial reporting. It provides temporary, optional expedients and exceptions related to applying U.S. GAAP to contract modifications, hedging relationships, fair value hedges, and other transactions affected by reference rate reform. The ASU applies only to contracts or hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. Regulators have established an Alternative Reference Rate Committee to assist with this change. The Company has loans, long-term debt and subordinated debt that have interest rates that reference LIBOR. Of the Company’s $2.8 billion in total gross loans as of December 31, 2020, approximately 13% have a LIBOR based reference rate. The Company has several LIBOR based debt issues, refer to Notes 9 and 10 of the consolidated financial statements. The Company will continue to assess the potential impact that this ASU will have on the Company’s consolidated financial statements.

In January 2020, the FASB issued ASU 2020-01, “Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)”. This ASU is for equity securities accounted for by the equity method. The amendment clarifies that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method. The Company has equity securities on our balance sheet but are not material to be considered for the equity method. For an EGC, this ASU is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years.

In February 2020, the FASB issued ASU 2020-02, “Financial Instruments—Credit Losses (Topic 326) and Leases (Topic 842)—Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (Topic 842) (SEC Update)”. This is an amendment to add the SEC Staff guidance on CECL) to the FASB codification. It contains guidance on what the SEC would expect the Company to perform and document when measuring and recording its allowance for credit losses for financial assets recorded at amortized cost. As an EGC, the Company will implement CECL on December 31, 2022.

In March 2020, the FASB issued ASU 2020-03, “Codification Improvements to Financial Instruments”. The ASU clarifies the accounting and disclosure guidance in various codification topics for financial instruments. In particular, the amendments (1) clarify certain disclosure requirements, including fair value option disclosures, (2) add cross-references in U.S. GAAP to clarify certain guidance, (3) make clear the applicability of the portfolio exception in ASC 820, Fair Value Measurement, to nonfinancial items, (4) clarify the determination of the contractual life of a net investment in leases in estimating expected credit losses under ASC 326, Financial Instruments – Credit Losses, and (5) explain the interaction between the guidance in ASC 860-20, Transfers and Servicing: Sales of Financial Assets, and ASC 326. For RBB as an EGC, issues 1, 2, 4 and 5 were adopted January 1, 2020. The amendment related to Issue 3 is a conforming amendment that affects the guidance in the amendments in ASU 2019-04. We determined the financial impact on the Company’s consolidated financial statements was not material.

In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting," which provides temporary optional expedients to ease the financial reporting burdens of the expected market transition from London Interbank Offered Rate (“LIBOR”) to an alternative reference rate such as Secured Overnight Financing Rate (“SOFR”). This pronouncement is applicable to all companies with contracts or hedging relationships that reference an interest rate that is expected to be discontinued. The ASU provides companies with optional guidance to ease the potential accounting burden associated with transitioning away from reference rates that are expected to be discontinued. Companies can apply the ASU immediately. However, the guidance will only be available for a limited time (generally through December 31, 2022). For contract modifications, companies can account for the modification as a continuation of the existing contract without additional analysis. For held-to-maturity (“HTM”) debt securities, one-time sale and/or transfer to available-for-sale or trading may be made for HTM debt securities that both reference an eligible reference rate and were classified as HTM before January 1, 2020. Regarding the effective date and transition: (1) companies can apply the ASU as of the beginning of the interim period that includes March 12, 2020 (e.g. January 1, 2020 for calendar year-end companies) or any date thereafter, (2) the ASU applies prospectively to contract modifications and hedging relationships, and (3) the one-time election to sell and/or transfer debt securities classified as HTM may be made at any time after March 12, 2020. The optional relief generally does not apply to contract modifications made, sales and transfers of HTM debt securities, and hedging relationships entered into or evaluated after December 31, 2022. The guidance was effective upon issuance and generally can be applied through December 31, 2022. Of the Company’s $2.8 billion in total gross loans as of December 31, 2020, approximately 13% have a LIBOR based reference rate. The Company has several issuances of LIBOR based long-term debt and subordinated debentures. Refer to Notes 9 and 10 of the Company’s consolidated financial statements included in this Form 10-K. We are currently evaluating this guidance to determine the financial impact on the Company’s consolidated financial statements.

In June 2020, the FASB issued ASU 2020-05, “Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities”. This ASU allows for the deferral of the effective dates of ASC 606 and ASC 842 (including amendments issued after the issuance of the original Update) to provide immediate, near-term relief for certain entities for whom these Updates are either currently effective or imminently effective. The Company has already implemented Topic 606 and will implement Topic 842 on January 1, 2021.

Note 3 - Acquisitions

12 Months Ended

Dec. 31, 2020

Business Combination Disclosure [Text Block]

NOTE 3 – ACQUISITIONS

PGB Holdings, Inc. Acquisition:

On January 10, 2020, the Company acquired all the assets and assumed all the liabilities of PGBH and its wholly owned bank subsidiary, in exchange for cash of $32.9 million. PGBH operated three branches in the Chicago, Illinois metropolitan area. The Company acquired PGBH to strategically establish a presence in the Chicago area. Goodwill in the amount of $10.7 million was recognized in this acquisition. Goodwill represents the future economic benefits arising from net assets acquired that are not individually identified and separately recognized and is attributable to synergies expected to be derived from the combination of the two entities. Goodwill is not deductible for income tax purposes.

The following table represents the assets acquired and liabilities assumed of PGBH as of January 10, 2020 and the fair value adjustments and amounts recorded by the Company through 2020 under the acquisition method of accounting:

	*PGBH*			*Fair Value*			*Fair*
*(dollars in thousands)*	*Book Value*			*Adjustments*			*Value*
Assets acquired
Cash and cash equivalents	$	17,033		$	—		$	17,033
Fed funds sold		8,300			—			8,300
Interest-bearing deposits in other financial Institutions		14,186			—			14,186
Loans, gross		172,443			666			173,109
Allowance for loan losses		(2,265	)		2,265			—
Bank premises and equipment		6,394			1,639			8,033
Core deposit premium		—			491			491
Investment in trust		155			—			155
Other assets		1,687			(580	)		1,107
Total assets acquired	$	217,933		$	4,481		$	222,414

Liabilities assumed
Deposits	$	187,393		$	969		$	188,362
Escrow Payable		4,277			—			4,277
Subordinated debentures		5,155			(763	)		4,392
Deferred income taxes		1,016			1,335			2,351
Other liabilities		1,211			(384	)		827
Total liabilities assumed		199,052			1,157			200,209
Excess of assets acquired over liabilities assumed		18,881			3,324			22,205
	$	217,933		$	4,481
Cash paid								32,885
Goodwill recognized							$	10,680

The fair values are estimates and are subject to adjustment for up to one year after the merger date.

The Company accounted for this transaction under the acquisition method of accounting in accordance with ASC 805, Business Combinations, which requires purchased assets and liabilities assumed to be recorded at their respective fair values at the date of acquisition.

The loan portfolio of PGBH was recorded at fair value at the date of acquisition with the assistance of a third-party valuation. A valuation of PGBH’s loan portfolio was performed as of the acquisition date to assess the fair value of the loan portfolio. The loan portfolio was segmented into two groups; loans with credit deterioration, of which there were none, and loans without credit deterioration, and then split further by loan type. The fair value was calculated on an individual loan basis using a discounted cash flow analysis. The discount rate utilized was based on a weighted average cost of capital, considering the cost of equity and cost of debt. Also factored into the fair value estimates were loss rates, recovery period and prepayment rates based on industry standards.

The Company also determined the fair value of the core deposit intangible, securities and deposits with the assistance of third-party valuations.

The core deposit intangible on non-maturing deposits was determined by evaluating the underlying characteristics of the deposit relationships, including customer attrition, deposit interest rates, service charge income, overhead expense and costs of alternative funding. Since the fair value of intangible assets are calculated as if they were stand-alone assets, the presumption is that a hypothetical buyer of the intangible asset would be able to take advantage of potential tax benefits resulting from the asset purchase. The value of the benefit is the present value over the period of the tax benefit, using the discount rate applicable to the asset.

In determining the fair value of certificates of deposit, a discounted cash flow analysis was used, which involved present valuing the contractual payments over the remaining life of the certificates of deposit at market-based interest rates.

For loans acquired from PGBH, the contractual amounts due, expected cash flows to be collected, interest component and fair value as of the respective acquisition dates were as follows (dollars in thousands):

*(dollars in thousands)*		*PGBH Acquired Loans*
Contractual amounts due	$	195,227
Cash flows not expected to be collected		5,176
Expected cash flows		190,051
Interest component of expected cash flows		16,942
Fair value of acquired loans	$	173,109

The operating results of the Company for the year ended December 31, 2020 include the operating results of PGBH since its acquisition date. The following table presents the net interest and other income, net income and earnings per share as if the acquisition of PGBH was effective as of January 1, 2020. There were no material, nonrecurring adjustments to the pro forma net interest and other income, net income and earnings per share presented below:

	*Twelve Months Ended*
*(dollars in thousands, except per share amounts)*		*December 31, 2020*		*December 31, 2019*
Net interest and other income	$	119,029	$	124,537
Net income		31,762		41,915
Basic earnings per share		1.61		2.09
Diluted earnings per share		1.59		2.06

Third-party acquisition related expenses are recognized as incurred and continue until the acquired system is converted and operational functions become fully integrated. The Company incurred third-party acquisition related expenses in the consolidated statements of income for the periods indicated in the Statements of Income in the expense item “Merger and conversion expenses”.

Note 4 - Investment Securities

12 Months Ended

Dec. 31, 2020

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

NOTE 4 - INVESTMENT SECURITIES

The following table summarizes the amortized cost and fair value of available for sale (“AFS”) securities and held to maturity (“HTM”) securities at December 31, 2020 and 2019, and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income:

			*Gross*		*Gross*
*(dollars in thousands)*	*Amortized*		*Unrealized*		*Unrealized*			*Fair*
December 31, 2020	*Cost*		*Gains*		*Losses*			*Value*
Available for sale
Government agency securities	$	1,257	$	37	$	—		$	1,294
SBA agency securities		4,125		269		—			4,394
Mortgage-backed securities- Government sponsored agencies		17,415		270		(8	)		17,677
Collateralized mortgage obligations		48,476		491		(93	)		48,874
Commercial paper		102,462		—		(14	)		102,448
Corporate debt securities		33,907		662		(6	)		34,563
Municipal securities		1,621		2		(6	)		1,617
Total	$	209,263	$	1,731	$	(127	)	$	210,867

Held to maturity
Municipal taxable securities	$	2,407	$	139	$	—		$	2,546
Municipal securities		4,767		290		—			5,057
Total	$	7,174	$	429	$	—		$	7,603

			*Gross*		*Gross*
	*Amortized*		*Unrealized*		*Unrealized*			*Fair*
December 31, 2019	*Cost*		*Gains*		*Losses*			*Value*
Available for sale
Government agency securities	$	1,591	$	—	$	(19	)	$	1,572
SBA agency securities		4,671		42		(22	)		4,691
Mortgage-backed securities- Government sponsored agencies		19,126		74		(29	)		19,171
Collateralized mortgage obligations		11,641		38		(25	)		11,654
Commercial paper		69,899		—		—			69,899
Corporate debt securities		18,801		281		—			19,082
Total	$	125,729	$	435	$	(95	)	$	126,069

Held to maturity
Municipal taxable securities	$	3,505	$	147	$	—		$	3,652
Municipal securities		4,827		153		—			4,980
Total	$	8,332	$	300	$	—		$	8,632

Proceeds of $11.7 million , $6.1 million and $44.6 million were received from the sale of investment securities during the twelve months ended December 31, 2020, 2019 and 2018, respectively, There were gains realized on sales of investment securities of $210,000, $7,000 and $5,000 during years ended December 31, 2020 and 2019, respectively.

One security with a fair value of $320,000 and $627,000 was pledged to secure a local agency deposit at December 31, 2020 and 2019, respectively.

The amortized cost and fair value of the investment securities portfolio as of December 31, 2020 are shown by expected maturity below. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties.

	*Less than One Year*				*More than One Year to Five Years*				*More than Five Years to Ten Years*				*More than Ten Years*				*Total*
	*Amortized*		*Estimated*		*Amortized*		*Estimated*		*Amortized*		*Estimated*		*Amortized*		*Estimated*		*Amortized*		*Estimated*
*(dollars in thousands)*	*Cost*		*Fair Value*		*Cost*		*Fair Value*		*Cost*		*Fair Value*		*Cost*		*Fair Value*		*Cost*		*Fair Value*
December 31, 2020
Government agency securities	$	—	$	—	$	1,257	$	1,294	$	—	$	—	$	—	$	—	$	1,257	$	1,294
SBA securities		—		—		595		625		3,530		3,769		—		—		4,125		4,394
Mortgage-backed securities- Government sponsored agencies		7,992		7,987		9,423		9,690		—		—		—		—		17,415		17,677
Collateralized mortgage obligations		—		—		11,911		12,258		36,565		36,616		—		—		48,476		48,874
Commercial paper		102,462		102,448		—		—		—		—		—		—		102,462		102,448
Corporate debt securities		4,991		5,029		11,683		11,740		13,233		13,743		4,000		4,051		33,907		34,563
Municipal securities		—		—		—		—		—		—		1,621		1,617		1,621		1,617
Total available for sale	$	115,445	$	115,464	$	34,869	$	35,607	$	53,328	$	54,128	$	5,621	$	5,668	$	209,263	$	210,867

Municipal taxable securities	$	899	$	910	$	1,508	$	1,636	$	—	$	—	$	—	$	—	$	2,407	$	2,546
Municipal securities		—		—		—		—		874		925		3,893		4,132		4,767		5,057
Total held to maturity	$	899	$	910	$	1,508	$	1,636	$	874	$	925	$	3,893	$	4,132	$	7,174	$	7,603

December 31, 2019
Government agency securities	$	—	$	—	$	1,591	$	1,572	$	—	$	—	$	—	$	—	$	1,591	$	1,572
SBA securities		—		—		714		725		3,957		3,966		—		—		4,671		4,691
Mortgage-backed securities- Government sponsored agencies		3,663		3,679		13,027		13,059		2,436		2,433		—		—		19,126		19,171
Collateralized mortgage obligations		—		—		9,288		9,265		2,353		2,389		—		—		11,641		11,654
Commercial paper		69,899		69,899		—		—		—		—		—		—		69,899		69,899
Corporate debt securities		1,015		1,020		2,002		2,008		11,772		12,024		4,012		4,030		18,801		19,082
Total available for sale	$	74,577	$	74,598	$	26,622	$	26,629	$	20,518	$	20,812	$	4,012	$	4,030	$	125,729	$	126,069

Municipal taxable securities	$	285	$	289	$	2,716	$	2,784	$	504	$	579	$	—	$	—	$	3,505	$	3,652
Municipal securities		—		—		40		40		366		379		4,421		4,561		4,827		4,980
Total held to maturity	$	285	$	289	$	2,756	$	2,824	$	870	$	958	$	4,421	$	4,561	$	8,332	$	8,632

The following table summarizes investment securities with unrealized losses at December 31, 2020 and December 31, 2019, aggregated by major security type and length of time in a continuous unrealized loss position:

	*Less than Twelve Months*							*Twelve Months or More*						*Total*
*(dollars in thousands)*	*Unrealized Losses*			*Estimated Fair Value*		*No. of Issuances*		*Unrealized Losses*		*Estimated Fair Value*		*No. of Issuances*		*Unrealized Losses*			*Estimated Fair Value*		*No. of Issuances*
December 31, 2020
Mortgage-backed securities- Government sponsored agencies	$	(8	)	$	12,982		3	$	—	$	—		—	$	(8	)	$	12,982		3
Collateralized mortgage obligations		(93	)		28,521		6		—		—		—		(93	)		28,521		6
Commercial paper		(14	)		16,982		4		—		—		—		(14	)		16,982		4
Corporate debt securities		(6	)		994		2		—		—		—		(6	)		994		2
Municipal securities		(6	)		1,092		2		—		—		—		(6	)		1,092		2
Total available for sale	$	(127	)	$	60,571		17	$	—	$	—		—	$	(127	)	$	60,571		17

	*Less than Twelve Months*							*Twelve Months or More*							*Total*

*(dollars in thousands)*	*Unrealized Losses*			*Estimated Fair Value*		*No. of Issuances*		*Unrealized Losses*			*Estimated Fair Value*		*No. of Issuances*		*Unrealized Losses*			*Estimated Fair Value*		*No. of Issuances*
December 31, 2019
Government agency securities	$	(19	)	$	1,572		2	$	—		$	—		—	$	(19	)	$	1,572		2
SBA securities		(22	)		1,469		2		—			—		—		(22	)		1,469		2
Mortgage-backed securities- Government sponsored agencies		(5	)		2,631		4		(24	)		3,912		6		(29	)		6,543		10
Collateralized mortgage obligations		(10	)		5,738		3		(15	)		953		2		(25	)		6,691		5
Total available for sale	$	(56	)	$	11,410		11	$	(39	)	$	4,865		8	$	(95	)	$	16,275		19

Unrealized losses have not been recognized into income because the issuer bonds are of high credit quality, management does not intend to sell, it is not more likely than not that management would be required to sell the securities prior to their anticipated recovery and the decline in fair value is largely due to changes in interest rates. The fair value is expected to recover as the bonds approach maturity.

Management evaluates securities for other-than-temporary impairment (“OTTI”) on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings.

Note 5 - Loans

12 Months Ended

Dec. 31, 2020

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

NOTE 5 - LOANS

The Company's loan portfolio consists primarily of loans to borrowers within the Los Angeles, California metropolitan area, the New York City metropolitan area, Chicago, Illinois metropolitan area and Las Vegas, Nevada. Although the Company seeks to avoid concentrations of loans to a single industry or based upon a single class of collateral, real estate and real estate associated businesses are among the principal industries in the Company's market area and, as a result, the Company's loan and collateral portfolios are, to some degree, concentrated in those industries.

A summary of the changes in the allowance for loan losses as of December 31 follows:

*(dollars in thousands)*	*2020*			*2019*			*2018*
Allowance for loan losses:
Beginning balance	$	18,816		$	17,577		$	13,773
Additions to the allowance charged to expense		11,823			2,390			4,469
Recoveries on loans charged-off		1			108			36
Less loans charged-off		(1,303	)		(1,259	)		(701	)
Ending balance	$	29,337		$	18,816		$	17,577

The following table presents the recorded investment in loans and impairment method as of December 31, 2020, 2019 and 2018 and the activity in the allowance for loan losses for the years then ended, by portfolio segment:

*(dollars in thousands)*
December 31, 2020	*Real Estate*		*Commercial*			*Other*			*Unallocated*			*Total*
Allowance for loan losses:
Beginning of year	$	15,118	$	3,588		$	9		$	101		$	18,816
Provisions		9,559		2,286			79			(101	)		11,823
Charge-offs		—		(1,258	)		(45	)		—			(1,303	)
Recoveries		—		1			—			—			1
	$	24,677	$	4,617		$	43		$	—		$	29,337
Reserves:
Specific	$	—	$	525		$	—		$	—		$	525
General		24,677		4,092			43			—			28,812
	$	24,677	$	4,617		$	43		$	—		$	29,337
Loans evaluated for impairment:
Individually	$	10,514	$	9,025		$	15		$	—		$	19,554
Collectively		2,304,203		378,935			4,074			—			2,687,212
	$	2,314,717	$	387,960		$	4,089		$	—		$	2,706,766

December 31, 2019	Real Estate			Commercial			Other		Unallocated		Total
Allowance for loan losses:
Beginning of year	$	13,437		$	4,140		$	—	$	—	$	17,577
Provisions		1,847			433			9		101		2,390
Charge-offs		(166	)		(1,093	)		—		—		(1,259	)
Recoveries		—			108			—		—		108
	$	15,118		$	3,588		$	9	$	101	$	18,816
Reserves:
Specific	$	—		$	—		$	—	$	—	$	—
General		15,118			3,588			9		101		18,816
	$	15,118		$	3,588		$	9	$	101	$	18,816
Loans evaluated for impairment:
Individually	$	3,795		$	9,423		$	—	$	—	$	13,218
Collectively		1,842,747			340,148			821		—		2,183,716
	$	1,846,542		$	349,571		$	821	$	—	$	2,196,934

December 31, 2018	*Real Estate*		*Commercial*			*Unallocated*			*Total*
Allowance for loan losses:
Beginning of year	$	9,309	$	4,044		$	420		$	13,773
Provisions		4,128		761			(420	)		4,469
Charge-offs		—		(701	)		—			(701	)
Recoveries		—		36			—			36
	$	13,437	$	4,140		$	—		$	17,577
Reserves:
Specific	$	44	$	—		$	—		$	44
General		13,393		4,140			—			17,533
Loans acquired with deteriorated credit quality		—		—			—			—
	$	13,437	$	4,140		$	—		$	17,577
Loans evaluated for impairment:
Individually	$	2,309	$	972		$	—		$	3,281
Collectively		1,750,896		387,838			—			2,138,734
	$	1,753,205	$	388,810		$	—		$	2,142,015

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, collateral adequacy, credit documentation, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis typically includes larger, non-homogeneous loans such as commercial real estate and commercial and industrial loans. This analysis is performed on an ongoing basis as new information is obtained. The Company uses the following definitions for risk ratings:

Pass - Loans classified as pass include loans not meeting the risk ratings defined below.

Special Mention - Loans classified as special mention have a potential weakness that deserves management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution's credit position at some future date.

Substandard - Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

Impaired - A loan is considered impaired, when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Additionally, all loans classified as troubled debt restructurings are considered impaired.

The risk category of loans by class of loans was as follows as of December 31, 2020 and 2019:

*(dollars in thousands)*			*Special*
December 31, 2020	*Pass*		*Mention*		*Substandard*		*Impaired*		*Total*
Real estate:
Construction and land development	$	186,550	$	—	$	—	$	173	$	186,723
Commercial real estate		947,643		756		52,611		2,627		1,003,637
Single-family residential mortgages		1,113,814		2,436		393		7,714		1,124,357
Commercial:
Commercial and industrial		278,357		999		8,620		2,163		290,139
SBA		86,573		186		4,200		6,862		97,821
Other		4,074		—		—		15		4,089
	$	2,617,011	$	4,377	$	65,824	$	19,554	$	2,706,766

			*Special*
December 31, 2019	*Pass*		*Mention*		*Substandard*		*Impaired*		*Total*
Real estate:
Construction and land development	$	95,756	$	—	$	—	$	264	$	96,020
Commercial real estate		767,603		5,353		18,115		2,197		793,268
Single-family residential mortgages		955,327		—		593		1,334		957,254
Commercial:
Commercial and industrial		265,178		4,078		5,330		—		274,586
SBA		61,496		189		3,877		9,423		74,985
Other		821		—		—		—		821
	$	2,146,181	$	9,620	$	27,915	$	13,218	$	2,196,934

The following table presents the aging of the recorded investment in past-due loans as of December 31, 2020 and 2019 by class of loans. Past due loans presented in table below also includes non-accrual loans.

*(dollars in thousands)*	30-59		60-89		*90 Days*		*Total*		*Loans Not*				*Non- Accrual*
December 31, 2020	*Days*		*Days*		*Or More*		*Past Due*		*Past Due*		*Total Loans*		*Loans (1)*
Real estate:
Construction and land development	$	—	$	—	$	173	$	173	$	186,550	$	186,723	$	173
Commercial real estate		449		10		1,136		1,595		1,002,042		1,003,637		1,193
Single-family residential mortgages		4,219		4,859		6,008		15,086		1,109,271		1,124,357		7,714
Commercial:
Commercial and industrial		—		—		987		987		289,152		290,139		1,661
SBA		—		33		6,828		6,861		90,960		97,821		6,828
Other		42		—		15		57		4,032		4,089		15
	$	4,710	$	4,902	$	15,147	$	24,759	$	2,682,007	$	2,706,766	$	17,584
Real estate:
Single-family residential mortgages held for sale	$	—	$	—	$	—	$	—	$	49,963	$	49,963	$	—

	30-59		60-89		*90 Days*		*Total*		*Loans Not*				*Non- Accrual*
December 31, 2019	*Days*		*Days*		*Or More*		*Past Due*		*Past Due*		*Total Loans*		*Loans (1)*
Real estate:
Construction and land development	$	—	$	—	$	—	$	—	$	96,020	$	96,020	$	—
Commercial real estate		—		—		725		725		792,543		793,268		725
Single-family residential mortgages		1,454		1,560		450		3,464		953,790		957,254		1,334
Commercial:
Commercial and industrial		—		—		—		—		274,586		274,586		—
SBA		2,263		—		9,378		11,641		63,344		74,985		9,378
Other		—		—		—		—		821		821		—
	$	3,717	$	1,560	$	10,553	$	15,830	$	2,181,104	$	2,196,934	$	11,437
Real estate:
Single-family residential mortgages held for sale	$	—	$	—	$	—	$	—	$	108,194	$	108,194	$	—

(1)	Included in total loans

Information relating to individually impaired loans presented by class of loans was as follows as of December 31, 2020, 2019 and 2018:

	*Unpaid*
*(dollars in thousands)*	*Principal*		*Recorded*		*Average*		*Interest*		*Related*
December 31, 2020	*Balance*		*Investment*		*Balance*		*Income*		*Allowance*
With no related allowance recorded
Construction and land development	$	173	$	173	$	173	$	—	$	—
Commercial and industrial		1,710		1,662		1,819		31
Commercial real estate		2,633		2,627		2,724		136		—
Residential mortgage loans		7,839		7,714		7,934		—		—
Commercial - SBA		6,828		6,829		9,928		—		—
Other		15		15		15		—		—
With related allowance recorded
Commercial and industrial		520		501		563		—		520
Commercial-SBA		33		33		40		3		5
Total	$	19,751	$	19,554	$	23,196	$	170	$	525

	*Unpaid*
	*Principal*		*Recorded*		*Average*		*Interest*		*Related*
December 31, 2019	*Balance*		*Investment*		*Balance*		*Income*		*Allowance*
With no related allowance recorded
Construction and land development	$	264	$	264	$	271	$	24	$	—
Commercial real estate		2,198		2,197		2,384		100		—
Residential mortgage loans		1,349		1,334		1,351		—		—
Commercial - SBA		9,423		9,423		10,791		4		—
With related allowance recorded
Commercial real estate		—		—		—		—		—
Commercial-SBA		—		—		—		—		—
Total	$	13,234	$	13,218	$	14,797	$	128	$	—

		*Unpaid*
	*Principal*		*Recorded*		*Average*		*Interest*		*Related*
December 31, 2018	*Balance*		*Investment*		*Balance*		*Income*		*Allowance*
With no related allowance recorded
Construction and land development	$	276	$	276	$	283	$	23	$	—
Commercial real estate		2,033		2,033		2,126		134		—
Residential mortgage loans		—		—		—		—		—
Commercial - SBA		1,498		797		1,377		19		—
With related allowance recorded
Commercial-SBA		175		175		193		1		44
Total	$	3,982	$	3,281	$	3,979	$	177	$	44

No interest income was recognized on a cash basis as of December 31, 2020 and 2019. We did not recognize any interest income on nonaccrual loans during the years ended December 31, 2020 and December 31, 2019 while the loans were in nonaccrual status. We recognized interest income on loans modified under troubled debt restructurings ("TDR's") of $170,000 and $128,000 during the years ended December 31, 2020 and 2019, respectively.

The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), signed into law on March 27, 2020, permits financial institutions to suspend requirements under GAAP for loan modifications to borrowers affected by COVID-19 that would otherwise be characterized as troubled debt restructurings ("TDRs") and suspend any determination related thereto if (i) the loan modification is made between March 1, 2020 and the earlier of December 31, 2020 or 60 days after the end of the coronavirus emergency declaration and (ii) the applicable loan was not more than 30 days past due as of December 31, 2019. In addition, federal bank regulatory authorities have issued guidance to encourage financial institutions to make loan modifications for borrowers affected by COVID-19 and have assured financial institutions that they will neither receive supervisory criticism for such prudent loan modifications, nor be required by examiners to automatically categorize COVID-19-related loan modifications as TDRs. The Company is applying this guidance to qualifying loan modifications.

The Company identified six loans as TDRs at December 31, 2020 and four loans at December 31, 2019, respectively, with aggregate balances of $3.1 million and $1.8 million, respectively. Non-accrual TDRs were $1.1 million at December 31, 2020, and zero at December 31, 2019. There were $435,000 specific reserves allocated to the loans as of December 31, 2020 and none at December 31, 2019. There are no commitments to lend additional amounts at December 31, 2020 and 2019 to customers with outstanding loans that are classified as TDRs. There were two non-accrual loans that were modified as TDRs during the past twelve months that had payment defaults during the periods.

During the year ended December 31, 2020, the terms of certain loans were modified as TDR's. The modification of the terms generally included loans where a moratorium on loan payments was granted. Such moratoriums ranged from three months to six months on the loans restructured in 2020.

The modification of the terms generally included loans where a moratorium on loan payments was granted. Such moratoriums ranged from six months to nine months on the loans restructured in 2020 and 2019.

The following table presents loans by class modified as TDR's that occurred during the years ended December 31, 2020, 2019 and 2018:

December 31,

2020

2019

2018

Pre-

Post-

Pre-

Post-

Pre-

Post-

Modification

Number of

Recorded

Number of

Recorded

Number of

Recorded

(dollars in thousands)

Loans

Investment

Loans

Investment

Loans

Investment

Commercial real estate

1,719

476

1,029

There were two non-accrual loans and no defaults of TDR’s in 2020 and 2019, respectively, where the loan was modified within the prior twelve months.

In the past the Company has purchased loans as part of its whole bank acquisitions, for which there was at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected.

No activity in the accretable yield on purchased credit-impaired loans for 2020 and 2019.

Note 6 - Loan Servicing

12 Months Ended

Dec. 31, 2020

Loan Servicing [Text Block]

NOTE 6 - LOAN SERVICING

Mortgage and SBA loans serviced for others are not reported as assets. The principal balances as of December 31, 2020 and 2019 are as follows:

	*December 31,*		*December 31,*
*(dollars in thousands)*	*2020*		*2019*
Loans serviced for others:
Mortgage loans	$	1,512,969	$	1,683,298
SBA loans		156,222		170,849
Commercial real estate loans		4,145		4,216

The fair value of servicing assets for mortgage loans was $10.7 million and $15.1 million at December 31, 2020 and 2019, respectively. The fair value of servicing assets for SBA loans was $5.0 million and $5.6 million at December 31, 2020 and 2019, respectively. Estimates of the loan servicing asset fair value are derived through a discounted cash flow analysis. Portfolio characteristics include loan delinquency rates, age of loans, note rate and geography. The assumptions embedded in the valuation are obtained from a range of metrics utilized by active buyers in the market place. The analysis accounts for recent transactions, and supply and demand within the market.

Servicing fees net of servicing asset amortization totaled $2.1 million, $3.4 million and $850,000 for the twelve months ended December 31, 2020, 2019 and 2018, respectively. Custodial balances maintained in connection with the foregoing loan servicing (including in non-interest bearing deposits) totaled $.2 million and $3.7 million as of December 31, 2020 and 2019, respectively.

When mortgage and SBA loans are sold with servicing retained, servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on a valuation model that calculates the present value of estimated future net servicing income. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans.

Servicing rights are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. During the twelve months ended December 31, 2020, the Company recorded an impairment write-down of $417,000 on mortgage servicing rights.

Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal. The amortization of mortgage servicing rights is netted against loan servicing fee income.

	*2020*						*2019*						*2018*
	*Mortgage*			*SBA*			*Mortgage*			*SBA*			*Mortgage*			*SBA*
*(dollars in thousands)*	*Loans*			*Loans*			*Loans*			*Loans*			*Loans*			*Loans*
Servicing assets:
Beginning of period	$	12,997		$	4,086		$	12,858		$	4,512		$	1,540		$	4,417
Acquisitions		—			—			—			—			10,651			—
Additions		1,422			293			2,088			980			1,562			1,932
Disposals		(1,513	)		(401	)		(128	)		(708	)		(197	)		(1,177	)
Amortized to expense		(1,960	)		(542	)		(1,821	)		(698	)		(698	)		(660	)
Impairment		(417	)		—			—			—			—			—
End of period	$	10,529		$	3,436		$	12,997		$	4,086		$	12,858		$	4,512

The fair value of servicing assets for mortgage loans was $10.7 million and $15.1 million as of December 31, 2020 and 2019, respectively. Fair value at December 31, 2020 was determined using a discount rate of 11.04%, average prepayment speed of 15.50%, depending on the stratification of the specific right, and a weighted-average default rate of 0.10%. Fair value at December 31, 2019 was determined using a discount rate of 10.82%, average prepayment speed of 11.53%, depending on the stratification of the specific right, and a weighted-average default rate of 0.11%.

The fair value of servicing assets for SBA loans was $5.0 million and $5.6 million as of December 31, 2020 and 2019, respectively. Fair value at December 31, 2020 was determined using a discount rate of 8.5%, average prepayment speed of 13.8%, depending on the stratification of the specific right, and a weighted-average default rate of 0.84%. Fair value at December 31, 2019 was determined using a discount rate of 8.50% and average prepayment speed of 12.64%, depending on the stratification of the specific right and a weighted-average default rate of 0.53%.

Note 7 - Premises and Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment Disclosure [Text Block]

NOTE 7 - PREMISES AND EQUIPMENT

A summary of premises and equipment as of December 31 follows:

(dollars in thousands)	2020			2019
Land	$	9,066		$	5,020
Building and improvements		15,040			7,822
Furniture, fixtures, and equipment		6,772			6,252
Leasehold improvements		5,315			5,590
		36,193			24,684
Less accumulated depreciation and amortization		(9,773	)		(8,102	)
Construction in progress		683			231
	$	27,103		$	16,813

Depreciation and leasehold amortization expense was $2.0 million, $1.9 million, and $1.8 million for 2020, 2019, and 2018, respectively.

The Company leases several of its operating facilities under various noncancellable operating leases expiring at various dates through 2028. The Company is also responsible for common area maintenance, taxes and insurance at the various branch locations.

Future minimum rent payments on the Company's leases were as follows as of December 31, 2020:

*(dollars in thousands)*
Year ending December 31:
2021	$	5,082
2022		4,624
2023		3,695
2024		2,667
2025		2,528
Thereafter		9,477
	$	28,073

The minimum rent payments shown above are given for the existing lease obligations and are not a forecast of future rental expense. Total rental expense, recognized on a straight-line basis, was $5.7 million, $6.1 million, and $2.7 million for 2020, 2019, and 2018, respectively.

In July 2020, the Company signed a lease, commencing on August 1, 2020, for a branch on Canal Street in New York City, and it is projected that the branch will be open by June 30, 2021. In January 2020, the Company signed a lease to for a new branch in Edison, New Jersey, which the Company occupied in November 2020. In March 2019, the Company signed a new lease to move its Diamond Bar, California branch to a new location, which opened in January 2021. The future payments for all of the new leases are included in the schedule above. The Company recorded $395,000 and $197,000 in sub-lease income in 2020 and 2019, respectively.

Note 8 - Deposits

12 Months Ended

Dec. 31, 2020

Deposit Liabilities Disclosures [Text Block]

NOTE 8 - DEPOSITS

At December 31, 2020 the scheduled maturities of time deposits are as follows:

*(dollars in thousands)*
One year	$	1,198,799
Two to three years		78,518
Over three years		9,521
Total	$	1,286,838

Brokered time deposits were $17.4 million at December 31, 2020 and $67.1 million at December 31, 2019.

Note 9 - Long-term Debt

12 Months Ended

Dec. 31, 2020

Long-term Debt [Text Block]

NOTE 9 - LONG-TERM DEBT

In March 2016, the Company issued $50 million of 6.5% fixed to floating rate subordinated debentures, due March 31, 2026. The interest rate is fixed through March 31, 2021 and floats at 3 month LIBOR plus 516 basis points thereafter. The Company can redeem these subordinated debentures beginning March 31, 2021. The sub-debt is considered Tier-two capital at the Company. The Company allocated $35 million to the Bank as Tier-one capital.

In November 2018, the Company issued $55 million of 6.18% fixed to floating rate subordinated debentures, due December 1, 2028. The interest rate is fixed through December 1, 2023 and floats at 3 month LIBOR plus 315 basis points thereafter. The Company can redeem these subordinated debentures beginning December 1, 2023. The sub-debt is considered Tier-two capital at the Company. The Company allocated $25 million to the Bank as Tier-one capital.

At December 31, 2020 and 2019, respectively, long-term debt was as follows:

*(dollars in thousands)*	*2020*		*2019*
Principal	$	105,000	$	105,000
Unamortized debt issuance costs	$	609	$	951

The following table presents interest and amortization expense the Company incurred for the year ended December 31, 2020 and 2019:

	*For the Year Ended December 31,*
*(dollars in thousands)*	*2020*		*2019*
Interest Expense:
Interest	$	6,649	$	6,649
Amortization		342		342

Note 10 - Subordinated Debentures

12 Months Ended

Dec. 31, 2020

Subordinated Borrowings Disclosure [Text Block]

NOTE 10 - SUBORDINATED DEBENTURES

The Company, through the acquisition of TFC Bancorp in 2016, acquired TFC Statutory Trust (the “Trust”). The Trust contained a pooled private offering of 5,000 trust preferred securities with a liquidation amount of $1,000 per security. TFC Bancorp issued $5 million of subordinated debentures to the Trust in exchange for ownership of all of the common security of the Trust and the proceeds of the preferred securities sold by the trust. The Company is not considered the primary beneficiary of this trust (variable interest entity), therefore the Trust is not consolidated in the Company's financial statements, but rather the subordinated debentures are shown as a liability at market value as of the close of the acquisition which was $3.3 million. There was a $1.9 million valuation reserve recorded to arrive at market value, which is treated as a yield adjustment and is amortized over the life of the security. The Company also purchased an investment in the common stock of the trust for $155,000, which is included in other assets. The Company may redeem the subordinated debentures, subject to prior approval by the Board of Governors of the Federal Reserve System on or after March 15, 2012, at 100% of the principal amount, plus accrued and unpaid interest. The subordinated debentures mature on March 15, 2037. The Company has the option to defer interest payments on the subordinated debentures from time to time for a period not to exceed five consecutive years. The Company has been paying interest on a quarterly basis. The subordinated debentures may be included in Tier I capital (with certain limitations applicable) under current regulatory guidelines and interpretations. The subordinated debentures have a variable rate of interest equal to the three month LIBOR plus 1.65%, which was 1.87% as of December 31, 2020 and 3.54% at December 31, 2019.

In October 2018, the Company, through the acquisition of First American International Corp., acquired First American International Statutory Trust I (“FAIC Trust”), a Delaware statutory trust formed in December 2004. The Trust issued 7,000 units of thirty-year fixed to floating rate capital securities with an aggregate liquidation amount of $7 million to an independent investor, and FAIC issued $7 million of subordinated debentures to the FAIC Trust and all of its common securities, amounting to $217,000, which is included in other assets. There was a $1.2 million valuation reserve recorded to arrive at market value which is treated as a yield adjustment and is amortized over the life of the security. The Company has the option to defer interest payments on the subordinated debentures from time to time for a period not to exceed five consecutive years. The subordinated debenture have a variable rate of interest equal to the three-month LIBOR plus 2.25% through final maturity on December 15, 2034. The rate at December 31, 2020, was 2.47% and 4.14% at December 31, 2019.

In January 2020, the Company, through the acquisition of PGBH, acquired PGB Capital Trust I (“PGBH Trust”), a Delaware statutory trust formed in December 2004. PGBH Trust issued 5,000 units of fixed to floating rate capital securities with an aggregate liquidation amount of $5,000,000 and 155 common securities with an aggregate liquidation amount of $155,000. PGBH issued $5.2 million of subordinated debentures to PGBH Trust in exchange for ownership of all the common securities of PGBH Trust. There was a $763,000 valuation reserve recorded to arrive at market value which is treated as a yield adjustment and is amortized over the life of the security. The Company has the option to defer interest payments on the subordinated debentures from time to time for a period not to exceed five consecutive years. The subordinated debentures have a variable rate of interest equal to the three-month LIBOR plus 2.10% through final maturity on December 15, 2034. The rate at December 31, 2020 was 2.32% and 3.89% at December 31, 2019.

The Company paid interest expenses of $468,000 in 2020, $540,000 in 2019 and $263,000 in 2018. The amount of aggregate amortization expense recognized in 2020 was $218,000, $167,000 in 2019, and $106,000 in 2018.

For regulatory reporting purposes, the Federal Reserve Board has indicated that the capital securities qualify as Tier I capital of the Company subject to previously specified limitations, until further notice. If regulators make a determination that the capital securities can no longer be considered in regulatory capital, the securities become callable and the Company may redeem them.

In July 2017, British banking regulators announced plans to eliminate the LIBOR rate by the end of 2021, before these subordinated notes and debentures mature. For these subordinated notes and debentures, there are provisions for amendments to establish a new interest rate benchmark.

Note 11 - Borrowing Arrangements

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Text Block]

NOTE 11 - BORROWING ARRANGEMENTS

The Company has established secured and unsecured lines of credit. The Company may borrow funds from time to time on a term or overnight basis from the Federal Home Loan Bank of San Francisco ("FHLB"), the Federal Reserve Bank of San Francisco ("FRB") and other financial institutions as indicated below.

Federal Funds Arrangements with Commercial Banks. As of December 31, 2020 the Company may borrow on an unsecured basis, up to $20.0 million, $10.0 million, $12.0 million and $50.0 million overnight from Zions Bank, Wells Fargo Bank, First Tennessee National Bank, and Pacific Coast Bankers' Bank, respectively.

Letter of Credit Arrangements. As of December 31, 2020 the Company had an unsecured commercial letter of credit line with Wells Fargo Bank for $2.0 million.

FRB Secured Line of Credit. The secured borrowing capacity with the FRB of $9.8 million at December 31, 2020 is collateralized by loans pledged with a carrying value of $20.1 million.

FHLB Secured Line of Credit. The secured borrowing capacity with the FHLB of $915.2 million at December 31, 2020 is collateralized by loans pledged with a carrying value of $1.2 billion.

FHLB Advances. At December 31, 2020, the Company had $150.0 million at a weighted average rate of 1.18% in long-term (five year) advances with the FHLB. These advances were collateralized by $1.2 billion in SFR loans There were no overnight or long-term advances at December 31, 2019. The Company paid interest expenses of $1.5 million, $2.9 million and $2.6 million on such FHLB advances for the twelve months ended December 31, 2020, 2019 and 2018. There were no amounts outstanding under any of the other borrowing arrangements above as of December 31, 2020 except FHLB advances maturing in 2025.

Note 12 - Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Text Block]

NOTE 12 - INCOME TAXES

The asset and liability method is used in accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse.

Income tax expense consists of the following:

*(dollars in thousands)*	*2020*			*2019*		*2018*
Current:
Federal	$	9,948		$	8,074	$	6,616
State		6,602			5,614		3,451
		16,550			13,688		10,067
Deferred		(2,998	)		1,503		(131	)
Deferred tax adjustment for change in tax rate		—			21		(479	)
Amortization of investment in affordable housing tax credits		979			900		644
	$	14,531		$	16,112	$	10,101

A comparison of the federal statutory income tax rates to the Company's effective income tax rates as of December 31 follows:

	*2020*						*2019*						*2018*
*(dollars in thousands)*	*Amount*			*Rate %*			*Amount*			*Rate %*			*Amount*			*Rate %*
Statutory federal tax	$	9,966			21.0		$	11,617			21.0		$	9,703			21.0
State franchise tax, net of federal benefit		4,024			8.5			5,322			9.6			3,488			7.5
Tax-exempt income		(192	)		(0.4	)		(25	)		—			(27	)		(0.1	)
Tax impact from change in tax rate		68			0.1			17			—			(479	)		(1.0	)
Stock-based compensation		123			0.3			(27	)		—			(2,643	)		(5.7	)
Other items, net		542			1.1			(792	)		(1.4	)		59			0.1
Actual tax expense	$	14,531			30.6		$	16,112			29.2		$	10,101			21.8

Deferred taxes are a result of differences between income tax accounting and generally accepted accounting principles with respect to income and expense recognition. The following is a summary of the components of the net deferred tax asset accounts recognized in the accompanying balance sheets as of December 31:

*(dollars in thousands)*	*2020*			*2019*
Deferred tax assets:
Pre-opening expenses	$	242		$	122
Allowance for loan losses		8,575			5,883
Stock-based compensation		1,074			1,346
Off balance sheet reserve		425			258
Operating loss carryforwards		1,196			1,253
Other real estate owned		10			37
Mark to market on held for sale mortgage loans		486			359
State tax		1,473			738
Other		393			856
		13,874			10,852
Deferred tax liabilities:
Depreciation		(1,212	)		(282	)
Deferred loan costs		(2,482	)		(1,104	)
Unrealized gain on AFS securities		(497	)		(106	)
Acquisition accounting fair value adjustments		(3,584	)		(2,671	)
Mortgage servicing rights		(3,204	)		(3,745	)
Other		(348	)		(618	)
		(11,327	)		(8,526	)
Net deferred tax assets	$	2,547		$	2,326

At December 31, 2020, the Company has usable net operating loss carryforwards from acquisitions of approximately $29,000 for federal, $400,000 for California, $6.3 million for New York State, $5.5 million for New York City and $1.2 million for Illinois income tax purposes. Net operating loss carry forwards, to the extent not used will begin to expire in 2028. The net operating loss carryforwards were generated through acquisitions, and as a result, are substantially limited by Section 382 of the Internal Revenue Code. Benefits not expected to be realized due to the limitation have been excluded from the deferred tax asset and net operating loss carryforward amounts noted above.

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, permits net operating loss carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021. In addition, the CARES Act allows net operating losses incurred in 2018, 2019, and 2020 to be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. On December 27, 2020, the Consolidated Appropriations Act, 2021 was signed into law and extends several provisions of the CARES Act. As of December 31, 2020, the Company has determined that neither this Act nor changes to income tax laws or regulations in other jurisdictions have a significant impact on our effective tax rate. The Company’s net operating losses were not generated during the 2018-2020 period.

The Company is subject to federal income tax and state tax laws of California, New York and Illinois. Income tax returns for the years ended after December 31, 2016 are open to audit by the federal, New York and Illinois authorities and for the years ended after December 31, 2015 are open to audit by California state authorities. The Company expanded operations to the state of New Jersey starting December 1, 2020. No income tax returns are open to audit by New Jersey state authorities at December 31, 2020.

There were no recorded interest or penalties related to uncertain tax positions as part of income tax for the years ended December 31, 2020, 2019 and 2018, respectively. The Company has determined that as of December 31, 2020 all tax positions taken to date are highly certain and, accordingly, no accounting adjustment has been made to the consolidated financial statements.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Note 13 - Commitments

12 Months Ended

Dec. 31, 2020

Commitments Disclosure [Text Block]

NOTE 13 - COMMITMENTS

In the ordinary course of business, the Company enters into financial commitments to meet the financing needs of its customers. These financial commitments include commitments to extend credit, unused lines of credit, commercial and similar letters of credit and standby letters of credit. Those instruments involve to varying degrees, elements of credit and interest rate risk not recognized in the Company's financial statements.

The Company's exposure to loan loss in the event of nonperformance on these financial commitments is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments as it does for loans reflected in the financial statements.

As of December 31, 2020 and 2019, the Company had the following financial commitments whose contractual amount represents credit risk:

	*2020*				*2019*
	*Fixed*		*Variable*		*Fixed*		*Variable*
*(dollars in thousands)*	*Rate*		*Rate*		*Rate*		*Rate*
Commitments to make loans	$	7	$	281,489	$	—	$	167,496
Unused lines of credit		57,437		211,192		55,789		102,841
Commercial and similar letters of credit		8,284		—		—		358
Standby letters of credit		1,455		2,576		2,485		1,230
	$	67,183	$	495,257	$	58,274	$	271,925

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Since many of the commitments are expected to expire without being drawn upon, the total amounts do not necessarily represent future cash requirements. The Company evaluates each client's credit worthiness on a case-by-case basis. The amount of collateral obtained if deemed necessary by the Company is based on management's credit evaluation of the customer.

The Company is involved in various matters of litigation which have arisen in the ordinary course of business and accruals for estimates of potential losses have been provided when necessary and appropriate under generally accepted accounting principles. In the opinion of management, the disposition of such pending litigation will not have a material effect on the Company's financial statements.

Note 14 - Related Party Transactions

12 Months Ended

Dec. 31, 2020

NOTE 14 - RELATED PARTY TRANSACTIONS

Loans to principal officers, directors, and their affiliates were as follows:

*(dollars in thousands)*	*2020*			*2019*
Beginning balance	$	4,000		$	3,600
New loans and advances		11,498			16,180
Repayments		(14,255	)		(15,780	)
Ending balance	$	1,243		$	4,000

Outstanding loan commitments to executive officers, directors and their related interests with whom they are associated were $2.0 million as of December 31, 2020 and 2019.

Deposits from principal officers, directors, and their affiliates at December 31, 2020 and 2019 were $50.0 million and $84.6 million.

Note 15 - Stock Option Plan

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Text Block]

NOTE 15 - STOCK OPTION PLAN

Under the terms of the Company's 2017 Omnibus Stock Incentive Plan, officers and key employees may be granted both nonqualified and incentive stock options and directors and organizers, who are not also an officer or employee, may only be granted nonqualified stock options. The Plan provides for options to purchase up to 30 percent of the outstanding common stock at a price not less than 100 percent of the fair market value of the stock on the date of the grant. Stock options expire no later than ten years from the date of the grant and generally vest over three years.

At December 31, 2020, 1,182,045 shares were available under the 2017 Omnibus Stock Incentive Plan for future grants.

The Company recognized stock-based compensation expense of $686,000, $689,000, and $684,000 in 2020, 2019 and 2018.

The Company did not grant restricted stock awards in 2020 or 2019. The Company granted restricted stock awards for 43,425 shares at a closing price of $29.38 in 2018. There were no restricted stock grants in prior years. These restricted stock units are scheduled to vest over a three year period from the August 15, 2018 grant date. During the year ended 2020, 14,475 restricted stock units vested. As of December 31, 2020, there were 14,475 remaining unvested restricted stock units. As of December 31, 2020 there was $266,000 of total unamortized restricted stock compensation and weighted average grant price was $29.38. The intrinsic value of vested restricted was $223,000 as of December 31, 2020.

The fair value of each option grant was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions presented below for 2020 and 2019. There were no stock options granted in 2018.

	July 2020			January 2020			January 2019
Expected volatility		31.8	%		28.5	%		35.0	%
Expected term		6.0 years			6.0 years			6.0 years
Expected dividends		2.48	%		1.99	%		1.90	%
Risk free rate		0.29	%		1.31	%		2.66	%
Grant date fair value	$	2.97		$	4.61		$	6.32

Since the Company had a limited amount of historical stock activity, the expected volatility was based on the historical volatility of similar banks that had a longer trading history. The expected term represents the estimated average period of time that the options remain outstanding. The expected term of options granted is based on historical data and represents the period of time that options granted are expected to be outstanding. The risk free rate of return reflects the grant date interest rate offered for zero coupon U.S. Treasury bonds over the expected term of the options.

A summary of the status of the Company's stock option plan as of December 31, 2020 and changes during the year then ended is presented below:

						*Weighted-*
				*Weighted-*		*Average*
				*Average*		*Remaining*		*Aggregate*
				*Exercise*		*Contractual*		*Intrinsic*
*(dollars in thousands, except for share amounts)*	*Shares*			*Price*		*Term*		*Value*
Outstanding at beginning of year		1,090,968		$	13.11
Granted		108,000			16.53
Exercised		(56,498	)		12.61
Forfeited/cancelled		(36,000	)		18.32
Outstanding at end of year		1,106,470		$	13.30		3.59 years	$	3,184,187

Options exercisable		958,470		$	12.73		2.76 years	$	3,067,737

As of December 31, 2020 there was $476,000 of total unrecognized compensation cost related to outstanding stock options that will be recognized over a weighted-average period of 1.8 years. The intrinsic value of options exercised was $278,000, $1.2 million, and $13.6 million in 2020, 2019, and 2018, respectively.

The total fair value of the shares vested was $300,000, $460,000, and $734,000 in 2020, 2019, and 2018, respectively. The number of unvested stock options were 147,000, 76,500 and 62,008 with a weighted average grant date fair value of $4.43, $6.32 and $6.48 as of December 31, 2020, 2019 and 2018.

Cash received from the exercise of 56,498 share options was $712,000 for the period ended December 31, 2020.

Note 16 - Regulatory Matters

12 Months Ended

Dec. 31, 2020

Regulatory Capital Requirements under Banking Regulations [Text Block]

NOTE 16 - REGULATORY MATTERS

Holding companies (with assets over $3 billion at the beginning of the year) and banks are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory - and possibly additional discretionary - actions by regulators that, if undertaken, could have a direct material effect on the Company's financial statements.

In July, 2013, the federal bank regulatory agencies approved the final rules implementing the Basel Committee on Banking Supervision's capital guidelines for U.S. banks. The new rules became effective on January 1, 2015, with certain of the requirements phased-in over a multi-year schedule. Under the rules, minimum requirements increased for both the quantity and quality of capital held by the Bank. The rules include a new common equity Tier 1 ("CET1") capital to risk-weighted assets ratio with minimums for capital adequacy and prompt corrective action purposes of 4.5% and 6.5%, respectively. The minimum Tier 1 capital to risk-weighted assets ratio was raised from 4.0% to 6.0% under the capital adequacy framework and from 6.0% to 8.0% to be well-capitalized under the prompt corrective action framework. In addition, the rules introduced the concept of a "conservation buffer" of 2.5% applicable to the three capital adequacy risk-weighted asset ratios (CET1, Tier 1, and Total). The implementation of the capital conservation buffer began on January 1, 2016 at 0.625% and was phased in over a four-year period (increasing by that amount on each
subsequent January 1, until it reached 2.5% on January 1, 2019). If the capital adequacy minimum ratios plus the phased-in conservation buffer amount exceed actual risk-weighted capital ratios, then dividends, share buybacks, and discretionary bonuses to executives could be limited in amount.

Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank's assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the table below) of total, Tier 1 and CET1 capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier 1 capital (as defined) to average assets (as defined). As permitted by the regulators for financial institutions that are not deemed to be “advanced approaches” institutions, the Company has elected to opt out of the Basel III requirement to include accumulated other comprehensive income in risk-based capital. Management believes, at December 31, 2020 and December 31, 2019, that the Bank satisfied all capital adequacy requirements to which it is subject.

As of December 31, 2020 and 2019, the most recent notification from the FDIC categorized the Bank as well-capitalized under the regulatory framework for prompt corrective action (there are no conditions or events since that notification that management believes have changed the Bank's category). To be categorized as well-capitalized, the Bank must maintain minimum ratios as set forth in the table below.

The following table sets forth RBB Bancorp's consolidated and the Bank's actual capital amounts and ratios and related regulatory requirements for the Bank as of December 31, 2020:

						*Amount of Capital Required*
											*To Be Well-Capitalized*
						*Minimum Required for*					*Under Prompt Corrective*
	*Actual*					*Capital Adequacy Purposes*					*Provisions*
*(dollars in thousands)*	*Amount*		*Ratio*			*Amount*		*Ratio*			*Amount*		*Ratio*
As of December 31, 2020:
Tier 1 Leverage Ratio
Consolidated	$	368,413		11.32	%		130,219		4.0	%		162,774		5.0	%
Bank		458,614		14.11	%	$	129,989		4.0	%	$	162,487		5.0	%
Common Equity Tier 1 Risk-Based Capital Ratio
Consolidated	$	354,130		14.62	%		109,021		4.5	%		157,474		6.5	%
Bank		458,614		18.94	%		108,966		4.5	%		157,395		6.5	%
Tier 1 Risk-Based Capital Ratio
Consolidated	$	368,413		15.21	%		145,361		6.0	%		193,814		8.0	%
Bank		458,614		18.94	%		145,288		6.0	%		193,717		8.0	%
Total Risk-Based Capital Ratio
Consolidated	$	503,093		20.77	%		193,814		8.0	%		242,268		10.0	%
Bank		488,888		20.19	%		193,717		8.0	%		242,146		10.0	%

The following table sets forth RBB Bancorp's consolidated and the Bank's actual capital amounts and ratios and related regulatory requirements for the Bank as of December 31, 2019:

						Amount of Capital Required
											To Be Well-Capitalized
						*Minimum Required for*					*Under Prompt Corrective*
	*Actual*					*Capital Adequacy Purposes*					*Provisions*
(dollars in thousands)	*Amount*		*Ratio*			*Amount*		*Ratio*			*Amount*		*Ratio*
As of December 31, 2019:
Tier 1 Leverage Ratio
Consolidated	$	353,572		12.89	%	NA		NA			NA		NA
Bank		417,036		15.23	%	$	108,150		4.0	%	$	135,187		5.0	%
Common Equity Tier 1 Risk Based Capital Ratio
Consolidated	$	343,899		17.16	%	NA		NA			NA		NA
Bank		417,036		20.87	%	$	89,127		4.5	%	$	128,739		6.5	%
Tier 1 Risk-Based Capital Ratio
Consolidated	$	353,572		17.65	%	NA		NA			NA		NA
Bank		417,036		20.87	%		118,836		6.0	%	$	158,448		8.0	%
Total Risk-Based Capital Ratio
Consolidated	$	477,262		23.82	%	NA		NA			NA		NA
Bank		436,677		21.86	%	$	158,448		8.0	%	$	198,061		10.0	%

The California Financial Code generally acts to prohibit banks from making a cash distribution to its shareholders in excess of the lesser of the bank's undivided profits or the bank's net income for its last three fiscal years less the amount of any distribution made by the bank's shareholders during the same period.

The California general corporation law generally acts to prohibit companies from paying dividends on common stock unless its retained earnings, immediately prior to the dividend payment, equals or exceeds the amount of the dividend. If a company fails this test, then it may still pay dividends if after giving effect to the dividend the company's assets are at least 125% of its liabilities.

Additionally, the Federal Reserve Bank has issued guidance which requires that they be consulted before payment of a dividend if a bank holding company does not have earnings over the prior four quarters of at least equal to the dividend to be paid, plus other holding company obligations.

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

Note 17 - Fair Value Measurements

12 Months Ended

Dec. 31, 2020

Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]

NOTE 17 - FAIR VALUE MEASUREMENTS

The following is a description of valuation methodologies used for assets and liabilities recorded at fair value:

Securities: The fair values of securities available for sale are determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1) or matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for specific securities but rather by relying on the securities' relationship to other benchmark quoted securities (Level 2).

Other Real Estate Owned: Nonrecurring adjustments to certain commercial and residential real estate properties classified as other real estate owned are measured at the lower of carrying amount or fair value, less costs to sell. In cases where the carrying amount exceeds the fair value, less costs to sell, an impairment loss is recognized. Fair values are generally based on third party appraisals of the property which are commonly adjusted by management to reflect an expectation of the amount to be ultimately collected and selling costs (Level 3).

Appraisals for other real estate owned are performed by state licensed appraisers (for commercial properties) or state certified appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. When a Notice of Default is recorded, an appraisal report is ordered. Once received, a member of the credit administration department reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison to independent data sources such as recent market data or industry wide-statistics for residential appraisals. Commercial appraisals are sent to an independent third party to review. The Company also compares the actual selling price of collateral that has been sold to the most recent appraised value to determine what additional adjustments, if any, should be made to the appraisal values on any remaining other real estate owned to arrive at fair value. If the existing appraisal is older than twelve months a new appraisal report is ordered. No significant adjustments to appraised values have been made as a result of this comparison process as of December 31, 2020.

Collateral-dependent impaired loans: Collateral-dependent impaired loans are carried at fair value when it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the original loan agreement and the loan has been written down to the fair value of its underlying collateral, net of expected disposition costs where applicable.

Off-Balance-Sheet Financial Instruments: The fair value of commitments to extend credit, standby letters of credit, interest rate lock commitments, forward mortgage loan sales contracts and financial guarantees written were estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counter parties. The fair value of guarantees and letters of credit was based on fees currently charged for similar agreements or on the estimated cost to terminate them or otherwise settle the obligations with the counter parties at the reporting date. Off-balance-sheet financial instruments were valued based on the assumptions that a market participant would use, a Level 3 measurement.

Fair value was estimated in accordance with ASC Topic 825. Fair value estimates were made at specific points in time, based on relevant market information and information about the financial instrument. Because no market exists for a significant portion of the Bank’s financial instruments, fair value estimates were based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates were subjective in nature and involved uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

The following table provides the hierarchy and fair value for each major category of assets and liabilities measured at fair value at December 31, 2020 and 2019:

*(dollars in thousands)*	*Fair Value Measurements Using:*
December 31, 2020	*Level 1*		*Level 2*		*Level 3*		*Total*
Assets measured at fair value:
On a recurring basis:
Securities available for sale
Government agency securities	$	—	$	1,294	$	—	$	1,294
SBA agency securities		—		4,394		—		4,394
Mortgage-backed securities		—		17,677		—		17,677
Collateralized mortgage obligations		—		48,874		—		48,874
Commercial paper		—		102,448		—		102,448
Corporate debt securities		—		34,563		—		34,563
Municipal securities		—		1,617		—		1,617
Interest Rate Lock Contracts		—		—		45		45
Forward Mortgage Loan Sale Contracts		—		—		214		214
	$	—	$	210,867	$	259	$	211,126
On a non-recurring basis:
Commercial real estate - collateral dependent impaired loans	$	—	$	—	$	643	$	643
SBA - collateral dependent impaired loans		—		—		3,534		3,534
Other real estate owned		—		—		293		293
	$	—	$	—	$	4,470	$	4,470

December 31, 2019	*Level 1*		*Level 2*		*Level 3*		*Total*
Assets measured at fair value:
On a recurring basis:
Securities available for sale
Government agency securities	$	—	$	1,572	$	—	$	1,572
SBA agency securities		—		4,691		—		4,691
Mortgage-backed securities		—		19,171		—		19,171
Collateralized mortgage obligations		—		11,654		—		11,654
Commercial paper		—		69,898		—		69,898
Corporate debt securities		—		19,082		—		19,082
	$	—	$	126,068	$	—	$	126,068
On a non-recurring basis:
Other real estate owned		—		—	$	293	$	293
	$	—	$	—	$	293	$	293

No write-downs to OREO were recorded in 2020 or 2019.

Quantitative information about the Company's non-recurring Level 3 fair value measurements as of December 31, 2020 and 2019 is as follows:

*(dollars in thousands)*	*Fair Value*		*Valuation*	*Unobservable*	*Adjustment*
December 31, 2020	*Amount*		*Technique*	*Input*	*Range*
Other real estate owned	$	293	Third Party	Management Adjustments		5% - 6%
			Appraisals	to Reflect Current
				Conditions and Selling
				Costs
Commercial real estate - collateral dependent impaired loans		643	Third Party	Management Adjustments		10%
			Appraisals	to Reflect Current
				Conditions and Selling
				Costs
SBA - collateral dependent impaired loans		3,534	Third Party	Management Adjustments		10%
			Appraisals	to Reflect Current
				Conditions and Selling
				Costs
December 31, 2018
Other real estate owned	$	293	Third Party	Management Adjustments		5% - 6%
			Appraisals	to Reflect Current
				Conditions and Selling
				Costs

Note 18 - Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Text Block]

NOTE 18 - FAIR VALUE OF FINANCIAL INSTRUMENTS

The fair value of a financial instrument is the amount at which the asset or obligation could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. Fair value estimates are made at a specific point in time based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the entire holdings of a particular financial instrument. Because no market value exists for a significant portion of the financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature, involve uncertainties and matters of judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

Fair value estimates are based on financial instruments both on and off the balance sheet without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Additionally, tax consequences related to the realization of the unrealized gains and losses can have a potential effect on fair value estimates and have not been considered in many of the estimates.

The following methods and assumptions were used to estimate the fair value of significant financial instruments not previously presented:

Cash and Cash Equivalents

The carrying amounts of cash and short-term instruments approximate fair values.

Time Deposits in Other Banks

Fair values for time deposits with other banks are estimated using discounted cash flow analyses, using interest rates currently being offered with similar terms.

Loans

For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying amounts. The fair values for all other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers with similar credit quality. In accordance with the prospective adoption of ASU 2016-01, the fair value of loans as of December 31, 2019 was measured using an exit price notion.

Mortgage Loans Held for Sale

The Company records mortgage loans held for sale at fair value based on the net premium received on recent sales of mortgage loans for identical pools of loans.

Equity Securities

The fair values of the Company’s equity securities are estimated using discounted cash flow analyses resulting in a Level 2 classification.

Deposits

The fair values disclosed for demand deposits, including interest and non-interest demand accounts, savings, and certain types of money market accounts are, by definition based on carrying value. Fair value for fixed-rate certificates of deposit is estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregate expected monthly maturities on time deposits. Early withdrawal of fixed-rate certificates of deposit is not expected to be significant

FHLB Advances

The carrying amounts of short-term debt with maturities of less than ninety days, such as FHLB Advances, approximate their fair values. The fair values of the Company’s long-term FHLB Advances are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification.

Long-Term Debt

The fair values of the Company’s long-term borrowings are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification.

Subordinated Debentures

The fair values of the Company’s Subordinated Debentures are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification.

Servicing Rights

Mortgage and SBA servicing rights are calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect the credit and interest rate risk inherent in the loan, a Level 2 measurement

Off-Balance Sheet Financial Instruments

The fair value of commitments to extend credit and standby letters of credit, interest rate lock commitments and forward mortgage loan sales contracts is estimated using the fees currently charged to enter into similar agreements. Unobservable inputs that reflect the Company's own assumptions about the assumptions that market participants would use in pricing an asset or liability. The fair value of these financial instruments is not material.

The fair value hierarchy level and estimated fair value of significant financial instruments at December 31, 2020 and 2019 are summarized as follows:

		*2020*				*2019*
	*Fair Value*	*Carrying*		*Fair*		*Carrying*		*Fair*
*(dollars in thousands)*	*Hierarchy*	*Value*		*Value*		*Value*		*Value*
Financial Assets:
Cash and due from banks	Level 1	$	137,654	$	137,654	$	114,763	$	114,763
Federal funds sold and other cash equivalents	Level 1		57,000		57,000		67,000		67,000
Interest-earning deposits in other financial institutions	Level 1		600		600		600		600
Investment securities - AFS	Level 2		210,867		210,867		126,069		126,069
Investment securities - HTM	Level 2		7,174		7,603		8,332		8,632
Mortgage loans held for sale	Level 1		49,963		50,716		108,194		109,385
Loans, net	Level 3		2,677,429		2,687,751		2,178,118		2,158,970
Equity securities	Level 3		14,894		14,894		11,826		11,826
Mortgage servicing rights	Level 2		13,965		15,617		17,083		20,752

			*Notional*		*Fair*		*Notional*		*Fair*
Derivative assets:			*Value*		*Value*		*Value*		*Value*
Interest Rate Lock Contracts	Level 3	$	27,665	$	45	$	—	$	—
Forward Mortgage Loan Sale Contracts	Level 3		55,089		214		—		—

			*Carrying*		*Fair*		*Carrying*		*Fair*
Financial Liabilities:			*Value*		*Value*		*Value*		*Value*
Deposits	Level 2	$	2,635,128	$	2,632,933	$	2,248,938	$	2,236,329
FHLB advances	Level 2		150,000		149,964		—		—
Long-term debt	Level 2		104,391		137,930		104,049		109,877
Subordinated debentures	Level 2		14,283		14,654		9,673		11,709

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Note 19 - Earnings Per Share ("EPS")

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Text Block]

NOTE 19 - EARNINGS PER SHARE ("EPS")

The following is a reconciliation of net income and shares outstanding to the income and number of shares used to compute EPS:

	*2020*					*2019*						*2018*
*(dollars in thousands except per share amounts)*	*Income*			*Shares*		*Income*			*Shares*			*Income*		*Shares*
Net income as reported	$	32,928				$	39,209					$	36,105
Less: Earnings allocated to Participating Securities		(37	)				(74	)					—
Shares outstanding					19,565,921					20,030,866					20,000,022
Impact of weighting shares					197,501					(13,560	)				(2,848,800	)
Used in basic EPS		32,891			19,763,422		39,135			20,017,306			36,105		17,151,222
Dilutive effect of outstanding
Stock options					158,437					376,118					816,431
Used in dilutive EPS	$	32,891			19,921,859	$	39,135			20,393,424		$	36,105		17,967,653

Basic earnings per common share	$	1.66				$	1.96					$	2.11
Diluted earnings per common share		1.65					1.92						2.01

Stock options for 301,500, 76,500 and 399,000 shares of common stock were not considered in computing diluted earnings per common share for December 31, 2020, 2019 and 2018, respectively because they were anti-dilutive.

Note 20 - Revenue From Contracts With Customers

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Text Block]

NOTE 20 – REVENUE FROM CONTRACTS WITH CUSTOMERS

On January 1, 2019, the Company adopted ASU 2014-09, Revenue from Contracts with Customers - Topic 606 and all subsequent ASUs that modified ASC 606. The Company adopted ASC 606 using the modified retrospective method applied to those contracts that were not completed as of January 1, 2019. The new standard did not materially impact the timing or measurement of the Company’s revenue recognition as it is consistent with the Company’s existing accounting for contracts within the scope of the new standard. There was no cumulative effect adjustment to retained earnings as a result of adopting this new standard.

The following is a summary of revenue from contracts with customers that are in-scope and not in-scope under Topic 606:

	*For the Year Ended December 31,*
*(dollars in thousands)*	*2020*		*2019*			*2018*
Non-interest income, in scope ⁽¹⁾
Fees and service charges on deposit accounts	$	1,636	$	1,366		$	1,115
Other fees ⁽²⁾		832		1,118			723
Other income ⁽³⁾		2,013		1,429			709
(Loss) on sale of OREO and fixed assets		—		(100	)		—
Total in-scope non-interest income		4,481		3,813			2,547
Non-interest income, not in scope ⁽⁴⁾		9,559		14,507			10,295
Total non-interest income	$	14,040	$	18,320		$	12,842

(1)	There were no adjustments to the Company's financial statements recorded as a result of the adoption of ASC 606.

(2)	Other fees consists of wealth management fees, miscellaneous loan fees and postage/courier fees.

(3)	Other income consists of safe deposit box rental income, wire transfer fees, security brokerage fees, annuity sales, insurance activity, and OREO income.

(4)

The amounts primarily represent revenue from contracts with customers that are out of scope of ASC 606: Net loan servicing income, letter of credit commissions, import/export commissions, recoveries on purchased loans, BOLI income, and gains (losses) on sales of mortgage loans, loans and investment securities.

The major revenue streams by fee type that are within the scope of ASC 606 presented in the above tables are described in additional detail below:

Fees and Services Charges on Deposit Accounts

Fees and service charges on deposit accounts include charges for analysis, overdraft, cashier's check fees, ATM, and safe deposit activities executed by our deposit clients, as well as interchange income earned through card payment networks for the acceptance of card based transactions. Fees earned from our deposit clients are governed by contracts that provide for overall custody and access to deposited funds and other related services, and can be terminated at will by either party; this includes fees from money service businesses (MSBs). Fees received from deposit clients for the various deposit activities are recognized as revenue once the performance obligations are met. Periodic service charges are generally collected monthly directly from the customer’s deposit account, and at the end of a statement cycle, while transaction based service charges are typically collected at the time of or soon after the service is performed. The adoption of ASU 2014-09 had no impact to the recognition of fees and service charges on deposit accounts.

Wealth Management Fees

The Company employs financial consultants to provide investment planning services for customers including wealth management services, asset allocation strategies, portfolio analysis and monitoring, investment strategies, and risk management strategies. The commission fees the Company earns are variable and are generally received monthly. The Company recognizes revenue for the services performed at quarter-end based on actual transaction details received from the broker dealer the Company engages.

In the Company’s wealth management division, revenue is primarily generated from (1) securities brokerage accounts, (2) investment advisor accounts, (3) full service brokerage implementation fees, and (4) life insurance and annuity products.

Gain on Sales of Other Real Estate Owned and Fixed Assets

The Company records a gain or loss from the sale of OREO and fixed assets, when control of the property or asset transfers to the buyer, which generally occurs at the time of an executed deed or sales agreement. When the Company finances the sale of OREO to a buyer, the Company assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction price and related gain or loss on sale if a significant financing component is present.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Note 21 - Qualified Affordable Housing Project Investments

12 Months Ended

Dec. 31, 2020

Affordable Housing Program [Text Block]

NOTE 21 – QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS

The Company began investing in qualified affordable housing projects in 2016. At December 31, 2020 and December 31, 2019, the balance of the investment for qualified affordable housing projects was $7.6 million and $8.6 million, respectively. This balance is reflected in the accrued interest and other assets line on the consolidated balance sheets. Total unfunded commitments related to the investments in qualified affordable housing projects totaled $1.6 million and $4.2 million at December 31, 2020 and December 31, 2019. The Company expects to fulfill these commitments between 2021 and 2029.

During the years ending December 31, 2020, 2019 and 2018, the Company recognized amortization expense of $979,000, $900,000 and $644,000, respectively, which was included within income tax expense on the consolidated statements of income.

During the years ended December 31, 2020, 2019 and 2018, the Company recognized tax credits from its investment in affordable housing tax credits of $891,000, $1.1 million and $573,000, respectively. The Company had no impairment losses during the years ended December 31, 2020, 2019 and 2018.

Note 22 - Parent Only Condensed Financial Information

12 Months Ended

Dec. 31, 2020

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

NOTE 22 - PARENT ONLY CONDENSED FINANCIAL INFORMATION

The parent company only condensed statements of financial condition as of December 31, 2020 and 2019, and the related condensed statements of income and condensed statements of cash flows for the years ended December 31, 2020, 2019 and 2018 are presented below:

Condensed Statements of Financial Condition

*(Dollars in Thousands)*	*2020*		*2019*
ASSETS
Cash and cash equivalents	$	7,089	$	29,985
Investment in Bank		532,972		480,703
Investment in RAM		2,933		6,870
Other assets		5,782		4,202
Total assets	$	548,776	$	521,760

LIABILITIES AND SHAREHOLDERS' EQUITY
Long term debt	$	104,391	$	104,049
Subordinated debentures		14,283		9,673
Other liabilities		1,614		348
Total liabilities		120,288		114,070
Shareholders' equity:
Common stock		284,261		290,395
Additional paid-in capital		4,932		4,938
Retained earnings		138,094		112,046
Non-controlling interest		72		72
Accumulated other comprehensive income		1,129		239
Total shareholders' equity		428,488		407,690
Total liabilities and shareholders' equity	$	548,776	$	521,760

Condensed Statements of Income

*(Dollars in Thousands)*	*2020*			*2019*			*2018*
Interest income	$	—		$	—		$	15
Dividend from subsidiaries		29,000			—			—
Interest expense		7,677			7,697			4,083
Noninterest expense		1,292			1,300			1,255
Income (loss) before equity in undistributed income of subsidiaries		20,031			(8,997	)		(5,323	)
Equity in undistributed income of:
Bank		14,053			45,324			39,198
RAM		(3,936	)		74			528
Income before income taxes		30,148			36,401			34,403
Income tax benefit		2,780			2,808			1,702
Net income		32,928			39,209			36,105
Other comprehensive income (loss)		890			1,577			(895	)
Total comprehensive income	$	33,818		$	40,786		$	35,210

Condensed Statements of Cash Flows

*(Dollars in Thousands)*	*2020*			*2019*			*2018*
Cash flows from operating activities:
Net income	$	32,928		$	39,209		$	36,105
Net amortization of debt issue costs and valuation reserve		560			508			268
Provision for deferred income taxes		441			513			(1,905	)
Undistributed income of subsidiaries		(10,116	)		(45,398	)		(39,726	)
Change in other assets and liabilities		(742	)		(1,981	)		3,493
		23,071			(7,149	)		(1,765	)
Cash flows from investment activities:
Net cash acquired (outlay) in connection with acquisition		6,634			—			(41,358	)
Investment in subsidiaries		(38,895	)		—			(15,000	)
		(32,261	)		—			(56,358	)
Cash flows from financing activities:
Issuance of subordinated debentures, net of issuance costs		—			—			54,018
Dividends paid		(6,567	)		(8,033	)		(5,753	)
Common stock repurchased, net of repurchased costs		(7,851	)		(3,190	)		—
Stock options exercised		712			2,817			9,629
		(13,706	)		(8,406	)		57,894

Increase in cash and cash equivalents		(22,896	)		(15,555	)		(229	)
Cash and cash equivalents beginning of year		29,985			45,540			45,769
Cash and cash equivalents end of year	$	7,089		$	29,985		$	45,540

Note 23 - Subsequent Events

12 Months Ended

Dec. 31, 2020

Subsequent Events [Text Block]

NOTE 23 – SUBSEQUENT EVENTS

On January 22, 2021, RBB announced a cash dividend of $0.12 per share for the fourth quarter of 2020. The dividend is payable on February 12, 2021 to common shareholders of record as of February 1, 2021.

In February 2021, the Company closed its Chinatown Square branch in Chicago, Illinois. The staff will transfer to the other branches in Chicago. The Company does not anticipate any material termination or relocation costs.

Note 24 - Quarterly Income Statements (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information [Text Block]

NOTE 24 – QUARTERLY INCOME STATEMENTS (Unaudited)

The following table presents the unaudited quarterly condensed income statements for the years 2020 and 2019.

	*2020*								*2019*
(dollars in thousands)	*4th Quarter*		*3rd Quarter*		*2nd Quarter*		*1st Quarter*		*4th Quarter*		*3rd Quarter*		*2nd Quarter*		*1st Quarter*
Interest income	$	35,864	$	35,125	$	34,103	$	34,028	$	33,907	$	34,669	$	35,943	$	37,206
Interest expense		6,987		7,874		9,069		10,435		10,784		11,157		11,626		11,294
Net interest income		28,877		27,251		25,034		23,593		23,123		23,512		24,317		25,912
Provision for credit losses		3,008		3,861		3,009		1,945		659		824		357		550
Net interest income after provision for credit losses		25,869		23,390		22,025		21,648		22,464		22,688		23,960		25,362
Noninterest income:		4,490		2,727		2,208		4,615		5,823		2,799		5,496		4,202
Noninterest expense:		14,453		13,978		14,819		16,263		13,463		13,786		14,899		15,325
Income before income taxes		15,906		12,139		9,414		10,000		14,824		11,701		14,557		14,239
Income tax expense		4,759		3,619		2,901		3,252		4,149		3,689		4,415		3,859
Net income	$	11,147	$	8,520	$	6,513	$	6,748	$	10,675	$	8,012	$	10,142	$	10,380

Net income per share
Basic	$	0.57	$	0.43	$	0.33	$	0.34	$	0.53	$	0.40	$	0.51	$	0.52
Diluted		0.56		0.43		0.33		0.33		0.52		0.39		0.50		0.51

Note 25 - Repurchase of Common Stock

12 Months Ended

Dec. 31, 2020

Treasury Stock [Text Block]

NOTE 25 – REPURCHASE OF COMMON STOCK

During 2019 the board of directors approved the Company to repurchase up to 1,000,000 shares of stock. As of December 31, 2020 the Company had repurchased 691,228 shares of stock at an average per share price of $15.97.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation

Principles of Consolidation and Nature of Operations, Policy [Policy Text Block]

Principles of Consolidation and Nature of Operations

RBB Bancorp has no significant business activity other than its investments in Royal Business Bank and RAM. Parent only condensed financial information on RBB Bancorp is provided in Note 22.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. It is reasonably possible our estimate of the allowance for loan losses and the fair value of mortgage servicing rights could change as actual results could differ from those estimates.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash Equivalents

Cash and cash equivalents include cash and due from banks, term federal funds sold and interest-bearing deposits in other financial institutions with original maturities of less than 90 days. Net cash flows are reported for customer loan and deposit transactions and interest-bearing deposits in other financial institutions.

Cash and Due from Banks, Policy [Policy Text Block]

Cash and Due from Banks

Banking regulations require that banks maintain a percentage of their deposits as reserves in cash or on deposit with the Federal Reserve Bank. The reserves required to be held as of December 31, 2020 and 2019 was none and $29.5 million, respectively. The Company maintains amounts in due from bank accounts, which may exceed federally insured limits. The Company has not experienced any losses in such accounts.

Interest-bearing Deposits in Other Financial Institutions, Policy [Policy Text Block]

Interest-Earning Deposits in Other Financial Institutions

Interest-bearing deposits in other financial institutions not included in cash and cash equivalents are carried at cost and generally mature in one year or less.

Marketable Securities, Policy [Policy Text Block]

Investment Securities

Investment securities are classified as held to maturity and carried at amortized cost when management has the positive intent and ability to hold them to maturity. Debt securities not classified as held to maturity are classified as available for sale. Securities available for sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income, net of tax.

Interest income includes amortization of purchase premiums or discounts. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments. Gains and losses on sales are recorded on the trade date and determined using the specific identification method.

Management evaluates debt securities for other-than-temporary impairment ("OTTI") on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows; OTTI related to credit loss, which must be recognized in the income statement and; OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis.

Financing Receivable, Held-for-sale [Policy Text Block]

Loans Held For Sale

Mortgage loans originated or acquired and intended for sale in the secondary market are carried at the lower of aggregate cost or fair value, as determined by outstanding commitments from investors. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Loans held for sale consist primarily of first trust deed mortgages on single-family residential properties located in California and New York.

Mortgage loans held for sale are generally sold with servicing rights retained. The carrying value of mortgage loans sold is determined by reducing the amount allocated to the servicing right, when applicable. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loans sold.

Financing Receivable [Policy Text Block]

Loans

Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding unpaid principal balances reduced by any charge-offs or specific valuation accounts and net of any deferred fees or costs on originated loans, or unamortized premiums or discounts on purchased loans. Loan origination fees and certain direct origination costs are deferred and recognized in interest income using the level-yield method without anticipating prepayments.

Premiums and discounts on loans purchased are grouped by type and certain common risk characteristics and amortized or accreted as an adjustment of yield over the weighted-average remaining contractual lives of each group of loans, adjusted for prepayments when applicable, using methodologies which approximate the interest method.

Loans on which the accrual of interest has been discontinued are designated as nonaccrual loans. The accrual of interest on loans is discontinued when principal or interest is past due 90 days or when, in the opinion of management, there is reasonable doubt as to collectability based on contractual terms of the loan. When loans are placed on nonaccrual status, all interest previously accrued but not collected is reversed against current period interest income. Income on nonaccrual loans is subsequently recognized only to the extent that cash is received and the loan's principal balance is deemed collectible. Interest accruals are resumed on such loans only when they are brought current with respect to interest and principal and when, in the judgment of management, the loans are estimated to be fully collectible as to all principal and interest.

Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]

Allowance for Loan Losses

The allowance for loan losses is a valuation allowance for probable incurred credit losses. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations and estimated collateral values, economic conditions, and other factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management's judgment, should be charged-off. Amounts are charged-off when available information confirms that specific loans or portions thereof, are uncollectible. This methodology for determining charge-offs is consistently applied to each segment.

The Company determines a separate allowance for each portfolio segment. The allowance consists of specific and general reserves. Specific reserves relate to loans that are individually classified as impaired. A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status, collateral value and the probability of collecting all amounts when due. Measurement of impairment is based on the expected future cash flows of an impaired loan, which are to be discounted at the loan's effective interest rate, or measured by reference to an observable market value, if one exists, or the fair value of the collateral for a collateral-dependent loan. The Company selects the measurement method on a loan-by-loan basis except that collateral-dependent loans for which foreclosure is probable are measured at the fair value of the collateral.

The Company recognizes interest income on impaired loans based on its existing methods of recognizing interest income on nonaccrual loans. Loans, for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and classified as impaired with measurement of impairment as described above.

If a loan is impaired, a portion of the allowance is allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan's existing rate or at the fair value of collateral if repayment is expected solely from the collateral.

General reserves cover non-impaired loans and are based on historical loss rates of peer institutions for each portfolio segment, adjusted for the effects of qualitative or environmental factors that are likely to cause estimated credit losses as of the evaluation date to differ from the portfolio segment's historical loss experience. Qualitative factors include consideration of the following: changes in lending policies and procedures; changes in economic conditions, changes in the nature and volume of the portfolio; changes in the experience, ability and depth of lending management and other relevant staff; changes in the volume and severity of past due, nonaccrual and other adversely graded loans; changes in the loan review system; changes in the value of the underlying collateral for collateral-dependent loans; concentrations of credit and the effect of other external factors such as competition and legal and regulatory requirements.

Portfolio segments identified by the Company include real estate, commercial and other loans. Relevant risk characteristics for these portfolio segments generally include debt service coverage, loan-to-value ratios, and financial performance.

Certain Acquired Loans, Policy [Policy Text Block]

Certain Acquired Loans

As part of business acquisitions, the Company acquires certain loans that have shown evidence of credit deterioration since origination. These acquired loans are recorded at the allocated fair value, such that there is no carryover of the seller's allowance for loan losses. Such acquired loans are accounted for individually. The Company estimates the amount and timing of expected cash flows for each purchased loan, and the expected cash flows in excess of the allocated fair value is recorded as interest income over the remaining life of the loan (accretable yield). The excess of the loan's contractual principal and interest over expected cash flows is not recorded (non-accretable difference). Over the life of the loan, expected cash flows continue to be estimated. If the present value of expected cash flows is less than the carrying amount, a loss is recorded through the allowance for loan losses. If the present value of expected cash flows is greater than the carrying amount, it is recognized as part of future interest income.

Transfers and Servicing of Financial Assets, Transfers of Financial Assets, Sales, Policy [Policy Text Block]

Servicing Rights

When mortgage and Small Business Administration ("SBA") loans are sold with servicing retained, servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on a valuation model that calculates the present value of estimated future net servicing income. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans.

Servicing fee income, which is reported on the income statement as loan servicing fees, net of amortization, is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal. The amortization of mortgage servicing rights is netted against loan servicing fee income.

Transfers and Servicing of Financial Assets, Transfers of Financial Assets, Policy [Policy Text Block]

Transfers of Financial Assets

Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.

Gains on sales of mortgage, SBA and CRE loans totaled $6.0 million, $9.9 million, and $7.1 million in 2020, 2019 and 2018, respectively. Gains on sale of mortgage loans totaled $5.2 million, $8.2 million, and $4.3 million, and gains on sale of SBA loans totaled $754,000, $1.5 million, and $2.8 million in 2020, 2019, and 2018, respectively. Gains on sale of CRE totaled none in 2020, $152,000 in 2019 and none in 2018.

Property, Plant and Equipment, Policy [Policy Text Block]

Premises and Equipment

Land is carried at cost. Premises, leasehold improvements and equipment are carried at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives, which is thirty years for premises and ranges from three to ten years for leasehold improvements and equipment. Leasehold improvements are amortized using the straight-line method over the estimated useful lives of the improvements or the remaining lease term, whichever is shorter. Expenditures for betterments or major repairs are capitalized and those for ordinary repairs and maintenance are charged to operations as incurred.

Other Real Estate Owned, Policy [Policy Text Block]

Other Real Estate Owned

Real estate acquired by foreclosure or deed in lieu of foreclosure is recorded at fair value at the date of foreclosure, establishing a new cost basis by a charge to the allowance for loan losses, if necessary. Other real estate owned is carried at the lower of the Company's carrying value of the property or its fair value, less estimated carrying costs and costs of disposition. Fair value is based on current appraisals less estimated selling costs. Any subsequent write-downs are charged against operating expenses and recognized as a valuation allowance. Operating expenses and related income of such properties and gains and losses on their disposition are included in other operating income and expenses.

Goodwill and Intangible Assets, Policy [Policy Text Block]

Goodwill and Other Intangible Assets

Goodwill is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill resulting from whole bank acquisitions is not amortized, but tested for impairment at least annually. The Company has selected December 31 as the date to perform the annual impairment test. Goodwill amounted to $69.2 million and $58.6 million as of December 31, 2020 and 2019, respectively, and is the only intangible asset with an indefinite life on the balance sheet. No impairment was recognized on goodwill during 2020 and 2019.

Other intangible assets consist of core deposit intangible ("CDI") assets arising from whole bank acquisitions. CDI assets are amortized on an accelerated method over their estimated useful life of 8 to 10 years. CDI was recognized in the 2013 acquisition of Los Angeles National Bank, in the 2016 acquisition of TFC Holding Company, in the 2018 acquisition of FAIC and in the 2020 acquisition of PGBH. The unamortized balance as of December 31, 2020 and 2019 was $5.2 million and $6.1 million, respectively. Accumulated amortization as of December 31, 2020 and 2019 was $4.5 million and $3.1 million, respectively. CDI amortization expense was $1.4 million, $1.5 million, and $575,000 in 2020, 2019 and 2018, respectively.

Estimated CDI amortization expense for the next 5 years is as follows:

*(dollars in thousands)*
Year ending December 31:
2021	$	1,121
2022		936
2023		800
2024		683
2025		589
Thereafter		1,067
Total	$	5,196

Bank Owned Life Insurance, Policy [Policy Text Block]

Bank Owned Life Insurance

The Company has purchased life insurance policies on a select group of employees and directors. Bank owned life insurance (“BOLI”) is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Increases of the cash value of these policies, as well as insurance proceeds received, are recorded in the other noninterest income and are not subject to income tax for as long as they are held for the life of the covered employee and director.

Federal Home Loan Bank Stock and Other Equity Securities, Policy [Policy Text Block]

FHLB Stock and Other Equity Securities

The Company is a member of the FHLB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income.

The Company also owns equity investment in banker’s bank stock. The Company adopted ASU 2016-01 on January 1, 2019, and elected the measurement alternative for measuring equity securities without readily determinable fair values at cost less impairment, plus or minus observable price changes in orderly transactions.

As of December 31, 2020 the Company had several CRA equity investments without readily determinable fair values in the amount of $14.9 million, and $11.8 million at December 31, 2019.

Share-based Payment Arrangement [Policy Text Block]

Stock-Based Compensation

Stock option compensation expense is calculated based on the fair value of the award at the grant date for those options expected to vest and is recognized as an expense over the vesting period of the grant using the straight-line method. The Company uses the Black-Scholes option pricing model to estimate the value of granted options. This model takes into account the option exercise price, the expected life, the current price of the underlying stock, the expected volatility of the Company’s stock, expected dividends on the stock and a risk-free interest rate. The Company estimates the expected volatility based on the Company’s historical stock prices for the period corresponding to the expected life of the stock options. Restricted stock units are valued at the closing price of the Company’s stock on the date of the grant. Compensation cost is recognized for stock options and restricted stock awards issued to employees and directors, based on the fair value of these awards. This cost is recognized over the period which an employee is required to provide services in exchange for the award, generally defined as the vesting period. When the options are exercised, the Company’s policy is to issue new shares of stock. The Company’s accounting policy is to recognize forfeitures as they occur.

Income Tax, Policy [Policy Text Block]

Income Taxes

The Company files its income taxes on a consolidated basis with its subsidiaries. The allocation of income tax expense represents each entity’s proportionate share of the consolidated provision for income taxes. Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. Tax effects from an uncertain tax position are recognized in the financial statements only if, based on its merits, the position is more likely than not to be sustained on audit by the taxing authorities. Interest and penalties related to uncertain tax positions are recorded as part of income tax expense.

Postemployment Benefit Plans, Policy [Policy Text Block]

Retirement Plans

The Company established a 401(k) plan in 2010. The Company contributed $424,000, $570,000, and $341,000 in 2020, 2019 and 2018, respectively.

Comprehensive Income, Policy [Policy Text Block]

Comprehensive Income

Comprehensive income consists of net income and other comprehensive income. Other comprehensive income includes unrealized gains and losses on securities available for sale.

Fair Value of Financial Instruments, Policy [Policy Text Block]

Financial Instruments

In the ordinary course of business, the Company has entered into off-balance sheet financial instruments consisting of commitments to extend credit, commercial letters of credit, and standby letters of credit as described in Note 13. Such financial instruments are recorded in the financial statements when they are funded.

Derivatives, Policy [Policy Text Block]

Derivatives

Interest Rate Lock Commitments (IRLCs) are agreements under which the Company agrees to extend credit to a borrower under certain specified terms and conditions in which the interest rate and the maximum amount of the loan are set prior to funding. Under the agreement, the Company commits to lend funds to a potential borrower (subject to the Company’s approval of the loan) on a fixed or adjustable rate basis, regardless of whether interest rates change in the market, or on a floating rate basis. As such, outstanding IRLCs are subject to interest rate risk and related price risk during the period from the date of issuance through the date of loan funding, cancelling or expiration. Loan commitments generally range between 30 and 90 days; however, the borrower is not obligated to obtain the loan. The Company is subject to fallout risk related to IRLCs , which is realized if approved borrowers choose not to close on the loans within the terms of the IRLCs. The Company uses best efforts commitments to substantially eliminate these risks. Historical commitment-to-closing ratios are considered to estimate the quantity of mortgage loans that will fund within the terms of the IRLCs.

The FASB Accounting Standards Codification (“FASB ASC”) provides that IRLCs on mortgage loans that will be held for resale are derivatives and must be accounted for at fair value on the balance sheet (if material). FASB ASC Topic 820 – Fair Value Measurements and Disclosures specifies how these derivatives are to be valued. Commitments to originate mortgage loans to be held for investment and other types of loans are generally not derivatives. Consequently, the Company has elected to account for these obligations at fair value.

Forward Mortgage Loan Sale Contracts (FMLSC) were utilized to avoid interest rate risk at the time an interest rate lock commitment is made to the buyer. The Company is subject to interest rate and price risk on its mortgage loans held for sale from the loan funding date until the date the loan is sold. Best efforts commitments which fix the forward the forward sales price that will be realized in the secondary market are used to eliminate the interest rate and price risk to the Company. The buyer can enter into mortgage loan sales commitments on a “mandatory” or “best efforts” basis. Mandatory commitments provide that the loan must be delivered or the commitment be “paired off”. In general, best efforts commitments provide that the loan be delivered if and when it closes. Mandatory delivery commitments, also known as forward loan sales commitments, are considered to be derivatives under FASB ASC Topic 815 (Derivatives and Hedging) because they meet all of the following criteria:

●

They have a specified underlying (the contractually specified price for the loans)

●

They have a notional amount (the committed loan principal amount)

●

They require little or no initial net investment

●

They require or permit net settlement as the institution via a pair-off transaction or the payment of a pair-off fee.

Earnings Per Share, Policy [Policy Text Block]

Earnings Per Share ("EPS")

Basic and diluted EPS are calculated using the two-class method since the Company has issued share-based payment awards considered participating securities because they entitle holders the rights to dividends during the vesting term. The two-class method is an earnings allocation formula that determines net income per share for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. Basic EPS excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity.

Fair Value Measurement, Policy [Policy Text Block]

Fair Value Measurement

Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Current accounting guidance establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair values:

Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3: Significant unobservable inputs that reflect the Company's own assumptions about the assumptions that market participants would use in pricing an asset or liability.

See Note 17 and Note 18 for more information and disclosures relating to the Company's fair value measurements.

Segment Reporting, Policy [Policy Text Block]

Operating Segments

Management has determined that since generally all of the banking products and services offered by the Company are available in each branch of the Bank, all branches are located within the same economic environment and management does not allocate resources based on the performance of different lending or transaction activities, it is appropriate to aggregate the Bank branches and report them as a single operating segment.

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncements

When RBB conducted its IPO in 2017, we qualified as an emerging growth company (“EGC”). We will remain an EGC until the earliest of (i) the end of the fiscal year during which we have total annual gross revenues of $1.0 billion or more, (ii) the end of the fiscal year following the fifth anniversary of the completion of our IPO, (iii) the date on which we have, during the previous three-year period, issued more than $1.0 billion in non-convertible debt and (iv) the date on which we are deemed to be a “large accelerated filer” under the Securities Exchange Act of 1934, as amended. We will no longer qualify as an EGC on December 31, 2022. EGCs are entitled to reduced regulatory and reporting requirements under the Securities Act and the Exchange Act.

In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU" or “Update”) 2014-09, Revenue from Contracts with Customers (Topic 606). This Update requires an entity to recognize revenue as performance obligations are met, in order to reflect the transfer of promised goods or services to customers in an amount that reflects the consideration the entity is entitled to receive for those goods or services. The following steps are applied in the updated guidance: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, the entity satisfies a performance obligation. These amendments are effective for public business entities for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Our revenue is primarily comprised of net interest income on financial assets and financial liabilities, which is explicitly excluded from the scope of ASU 2014-09, and non-interest income. Accordingly, the majority of the Company’s revenues will not be affected. In addition, the standard does not materially impact the timing or measurement of the Company’s revenue recognition as it is consistent with the Company’s existing accounting for contracts within the scope of the standard. As an emerging growth company, the Company adopted ASU 2014-09 as of January 1, 2019, utilizing the modified prospective approach. Refer to Note 20 - Revenue from Contracts with Customers.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The most significant change for lessees is the requirement under the new guidance to recognize right-of-use assets and lease liabilities for all leases not considered short-term leases, which is generally defined as a lease term of less than 12 months. This change will result in lessees recognizing right-of-use assets and lease liabilities for most leases currently accounted for as operating leases under current lease accounting guidance. The amendments in this Update are effective for annual periods beginning after December 15, 2020 and for interim periods beginning after December 15, 2021, for an emerging growth company as the effective date was deferred by the FASB. The Company has several lease agreements which are currently considered operating leases and are therefore not included on the Company’s Consolidated Balance Sheets. Under the new guidance the Company will recognize on the Consolidated Balance Sheets right-of-use assets with a corresponding lease liability. With the Company’s current leases, we anticipate recording the right-of-use asset and lease liability of approximately $26.7 million as of the January 1, 2021 adoption date.

In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instrument (Topic 326), including subsequent amending ASUs. This ASU significantly changes how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The standard will replace today's "incurred loss" approach with an "expected loss" model. The new model, referred to as the current expected credit loss ("CECL") model, will apply to: (1) financial assets subject to credit losses and measured at amortized cost, and (2) certain off-balance sheet credit exposures. This includes, but is not limited to, loans, leases, held to maturity securities, loan commitments, and financial guarantees. For available for sale (“AFS”) debt securities with unrealized losses, entities will measure credit losses in a manner similar to what they do today, except that the losses will be recognized as allowances rather than reductions in the amortized cost of the securities. ASU 2016-13 also expands the disclosure requirements regarding an entity's assumptions, models, and methods for estimating the allowance for loan and lease losses. In addition, public business entities will need to disclose the amortized cost balance for each class of financial asset by credit quality indicator, disaggregated by the year of origination. ASU 2016-13 was originally proposed to be effective for interim and annual reporting periods for an emerging growth company beginning after December 15, 2020 (however, see below). Entities will apply the standard's provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (i.e., modified retrospective approach). The Company has begun its evaluation of the impact of the implementation of ASU 2016-13. The implementation of the provisions of ASU 2016-13 will most likely impact the Company’s consolidated financial statements as to the level of reserves that will be required for credit losses. The Company will continue to assess the potential impact that this Update will have on the Company’s consolidated financial statements. The Company will adopt CECL (ASU 2016-13) on December 31, 2022.

In February 2019, the U.S. federal bank regulatory agencies approved a final rule modifying their regulatory capital rules and providing an option to phase in over a three year period the day-one adverse regulatory capital effects of ASU 2016-13. Additionally, in March 2020, the U.S. federal bank regulatory agencies issued an interim final rule that provides banking organizations an option to delay the estimated CECL impact on regulatory capital for an additional two years for a total transition period of up to five years to provide regulatory relief to banking organizations to better focus on supporting lending to creditworthy households and businesses in light of recent strains on the U.S. economy as a result of the novel coronavirus disease 2019 ("COVID-19") pandemic. As a result, entities will have the option to gradually phase in the full effect of CECL on regulatory capital over a five-year transition period.

In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350). This Update simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. The amendments in this Update are required for public business entities and other entities that have goodwill reported in their financial statements and have not elected the private company alternative for the subsequent measurement of goodwill. As a result, under this Update, “an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit.” The Company will adopt this ASU on December 31, 2022. Adoption of ASU 2017-04 is not expected to have a significant impact on the Company’s consolidated financial statements.

In March 2017, the FASB issued ASU 2017-08, Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities, which is intended to enhance “the accounting for the amortization of premiums for purchased callable debt securities.” This Update shortens the amortization period for certain callable debt securities purchased at a premium by requiring that the premium be amortized to the earliest call date. Under current GAAP, entities generally amortize the premium as an adjustment of yield over the contractual life of the instrument. The amendments in this Update affects all entities that hold investments in callable debt securities that have an amortized cost basis in excess of the amount that is repayable by the issuer at the earliest call date (that is, at a premium). The amendment does not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The Company early adopted this guidance on January 1, 2018 since the accounting of the Company’s purchased callable debt securities have been consistent with the requirements of ASU 2017-08. The adoption did not have a material impact on the Company’s consolidated financial statements.

In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. The amendments in this Update expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from non-employees. An entity should apply the requirements of Topic 718 to non-employee awards except for specific guidance on inputs to an option pricing model and the attribution of cost (that is, the period of time over which share-based payment awards vest and the pattern of cost recognition over that period). The amendments specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. The amendments also clarify that Topic 718 does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts with Customers. For emerging growth companies, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. This Update has the potential to only impact share-based payments to the Company’s non-employees. The Company adopted this ASU on January 1, 2020 and this ASU did not have a material impact on the Company’s consolidated financial statements.

In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement. The amendments in this Update modify the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement, based on the concepts in the Concepts Statement, including the consideration of costs and benefits. These disclosure requirements were removed from the topic: (1) The amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, (2) the policy for timing of transfers between levels, and (3) the valuation processes for Level 3 fair value measurements. These disclosure requirements were modified: (1) For investments in certain entities that calculate net asset value, an entity is required to disclose the timing of liquidation of an investee’s assets and the date when restrictions from redemption might lapse only if the investee has communicated the timing to the entity or announced the timing publicly, and (2) the amendments clarify that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date. The following disclosure requirements were added: (1) The changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period, (2) the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. For certain unobservable inputs, an entity may disclose other quantitative information (such as the median or arithmetic average) in lieu of the weighted average if the entity determines that other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop Level 3 fair value measurements. In addition, the amendments eliminate “at a minimum” from the phrase “an entity shall disclose at a minimum to promote the appropriate exercise of discretion by entities when considering fair value measurement disclosures and to clarify that materiality is an appropriate consideration of entities and their auditors when evaluating disclosure requirements”. The amendments in this Update are effective for emerging growth companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted upon issuance of this Update. An entity is permitted to early adopt any removed or modified disclosures upon issuance of this Update and delay adoption of the additional disclosures until their effective date. As an EGC, RBB adopted this Update on January 1, 2020 and it did not have a material impact on the Company’s consolidated financial statements.

In August 2018, the FASB issued ASU 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This Update provides additional guidance to ASU 2015-05, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement” (CCA), on the accounting for implementation, setup, and other upfront costs (collectively referred to as implementation costs) apply to entities that are a customer in a hosting arrangement. This Update applies to entities that are a customer in a hosting arrangement, which is a service contract. Costs for implementation activities in the application development stage are capitalized depending on the nature of the costs, while costs incurred during the preliminary project and post-implementation stages are expensed as the activities are performed. This Update also require the customer to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement. This Update is effective for an EGC for annual reporting periods beginning after December 15, 2020, and interim periods within annual periods beginning after December 15, 2021. Early adoption of the amendments in this Update is permitted, including adoption in any interim period, for all entities. The amendments in this Update should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. This Update could be material should RBB incur implementation costs for a CCA that is a service contract.

In November 2019, the FASB issued ASU 2019-08, Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606), Codification Improvements—Share-Based Consideration Payable to a Customer. This ASU will affect companies that issue share-based payments (e.g., options or warrants) to their customers. In June 2018, the FASB issued ASU 2018-07 that expanded the scope of Topic 718, Compensation—Stock Compensation, to include share-based payments to non-employees in exchange for goods and services. That ASU substantially aligned the accounting for share-based payments to non-employees and employees. However, it required share-based payments to nonemployee customers to be accounted for under Topic 606, Revenue from Contracts with Customers, as a reduction of revenue, similar to other sales incentives (such as coupons and rebates). While that ASU provided guidance on the income statement classification of payments to customers (as a reduction of revenue), that ASU did not specify when to measure such awards or how to classify awards on the balance sheet (for example as a liability or as equity). To address diversity in these areas, the new guidance requires companies to measure and classify (on the balance sheet) share-based payments to customers by applying the guidance in Topic 718. As a result, the amount recorded as a reduction in revenue would be measured based on the grant-date fair value of the share-based payment. ASU 2019-08 is effective for entities that have not yet adopted the amendments in ASU 2018-07, the amendments in ASU 2019-08 are effective for an EGC in fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. The Company adopted the ASU as of December 31, 2019 and this ASU did not have a material impact on the Company’s financial statements as the Company has not issued share-based payments to non-employees, except for non-employee members of the board of directors.

In November 2019, the FASB issued ASU 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842), Effective Dates. In July 2017, British banking regulators announced plans to eliminate the LIBOR rate by the end of 2021. The purpose of the ASU is to facilitate the effects of reference rate reform on financial reporting. It provides temporary, optional expedients and exceptions related to applying U.S. GAAP to contract modifications, hedging relationships, fair value hedges, and other transactions affected by reference rate reform. The ASU applies only to contracts or hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. Regulators have established an Alternative Reference Rate Committee to assist with this change. The Company has loans, long-term debt and subordinated debt that have interest rates that reference LIBOR. Of the Company’s $2.8 billion in total gross loans as of December 31, 2020, approximately 13% have a LIBOR based reference rate. The Company has several LIBOR based debt issues, refer to Notes 9 and 10 of the consolidated financial statements. The Company will continue to assess the potential impact that this ASU will have on the Company’s consolidated financial statements.

In January 2020, the FASB issued ASU 2020-01, “Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)”. This ASU is for equity securities accounted for by the equity method. The amendment clarifies that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method. The Company has equity securities on our balance sheet but are not material to be considered for the equity method. For an EGC, this ASU is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years.

In February 2020, the FASB issued ASU 2020-02, “Financial Instruments—Credit Losses (Topic 326) and Leases (Topic 842)—Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (Topic 842) (SEC Update)”. This is an amendment to add the SEC Staff guidance on CECL) to the FASB codification. It contains guidance on what the SEC would expect the Company to perform and document when measuring and recording its allowance for credit losses for financial assets recorded at amortized cost. As an EGC, the Company will implement CECL on December 31, 2022.

In March 2020, the FASB issued ASU 2020-03, “Codification Improvements to Financial Instruments”. The ASU clarifies the accounting and disclosure guidance in various codification topics for financial instruments. In particular, the amendments (1) clarify certain disclosure requirements, including fair value option disclosures, (2) add cross-references in U.S. GAAP to clarify certain guidance, (3) make clear the applicability of the portfolio exception in ASC 820, Fair Value Measurement, to nonfinancial items, (4) clarify the determination of the contractual life of a net investment in leases in estimating expected credit losses under ASC 326, Financial Instruments – Credit Losses, and (5) explain the interaction between the guidance in ASC 860-20, Transfers and Servicing: Sales of Financial Assets, and ASC 326. For RBB as an EGC, issues 1, 2, 4 and 5 were adopted January 1, 2020. The amendment related to Issue 3 is a conforming amendment that affects the guidance in the amendments in ASU 2019-04. We determined the financial impact on the Company’s consolidated financial statements was not material.

In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting," which provides temporary optional expedients to ease the financial reporting burdens of the expected market transition from London Interbank Offered Rate (“LIBOR”) to an alternative reference rate such as Secured Overnight Financing Rate (“SOFR”). This pronouncement is applicable to all companies with contracts or hedging relationships that reference an interest rate that is expected to be discontinued. The ASU provides companies with optional guidance to ease the potential accounting burden associated with transitioning away from reference rates that are expected to be discontinued. Companies can apply the ASU immediately. However, the guidance will only be available for a limited time (generally through December 31, 2022). For contract modifications, companies can account for the modification as a continuation of the existing contract without additional analysis. For held-to-maturity (“HTM”) debt securities, one-time sale and/or transfer to available-for-sale or trading may be made for HTM debt securities that both reference an eligible reference rate and were classified as HTM before January 1, 2020. Regarding the effective date and transition: (1) companies can apply the ASU as of the beginning of the interim period that includes March 12, 2020 (e.g. January 1, 2020 for calendar year-end companies) or any date thereafter, (2) the ASU applies prospectively to contract modifications and hedging relationships, and (3) the one-time election to sell and/or transfer debt securities classified as HTM may be made at any time after March 12, 2020. The optional relief generally does not apply to contract modifications made, sales and transfers of HTM debt securities, and hedging relationships entered into or evaluated after December 31, 2022. The guidance was effective upon issuance and generally can be applied through December 31, 2022. Of the Company’s $2.8 billion in total gross loans as of December 31, 2020, approximately 13% have a LIBOR based reference rate. The Company has several issuances of LIBOR based long-term debt and subordinated debentures. Refer to Notes 9 and 10 of the Company’s consolidated financial statements included in this Form 10-K. We are currently evaluating this guidance to determine the financial impact on the Company’s consolidated financial statements.

In June 2020, the FASB issued ASU 2020-05, “Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities”. This ASU allows for the deferral of the effective dates of ASC 606 and ASC 842 (including amendments issued after the issuance of the original Update) to provide immediate, near-term relief for certain entities for whom these Updates are either currently effective or imminently effective. The Company has already implemented Topic 606 and will implement Topic 842 on January 1, 2021.

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

*(dollars in thousands)*
Year ending December 31:
2021	$	1,121
2022		936
2023		800
2024		683
2025		589
Thereafter		1,067
Total	$	5,196

Note 3 - Acquisitions (Tables)

12 Months Ended

Dec. 31, 2020

Business Combination, Loans Acquired [Table Text Block]

*(dollars in thousands)*		*PGBH Acquired Loans*
Contractual amounts due	$	195,227
Cash flows not expected to be collected		5,176
Expected cash flows		190,051
Interest component of expected cash flows		16,942
Fair value of acquired loans	$	173,109

Business Acquisition, Pro Forma Information [Table Text Block]

	*Twelve Months Ended*
*(dollars in thousands, except per share amounts)*		*December 31, 2020*		*December 31, 2019*
Net interest and other income	$	119,029	$	124,537
Net income		31,762		41,915
Basic earnings per share		1.61		2.09
Diluted earnings per share		1.59		2.06

PGB Holdings Inc. [Member]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

	*PGBH*			*Fair Value*			*Fair*
*(dollars in thousands)*	*Book Value*			*Adjustments*			*Value*
Assets acquired
Cash and cash equivalents	$	17,033		$	—		$	17,033
Fed funds sold		8,300			—			8,300
Interest-bearing deposits in other financial Institutions		14,186			—			14,186
Loans, gross		172,443			666			173,109
Allowance for loan losses		(2,265	)		2,265			—
Bank premises and equipment		6,394			1,639			8,033
Core deposit premium		—			491			491
Investment in trust		155			—			155
Other assets		1,687			(580	)		1,107
Total assets acquired	$	217,933		$	4,481		$	222,414

Liabilities assumed
Deposits	$	187,393		$	969		$	188,362
Escrow Payable		4,277			—			4,277
Subordinated debentures		5,155			(763	)		4,392
Deferred income taxes		1,016			1,335			2,351
Other liabilities		1,211			(384	)		827
Total liabilities assumed		199,052			1,157			200,209
Excess of assets acquired over liabilities assumed		18,881			3,324			22,205
	$	217,933		$	4,481
Cash paid								32,885
Goodwill recognized							$	10,680

Note 4 - Investment Securities (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Available for Sale Securities, and Held to Maturity [Table Text Block]

			*Gross*		*Gross*
*(dollars in thousands)*	*Amortized*		*Unrealized*		*Unrealized*			*Fair*
December 31, 2020	*Cost*		*Gains*		*Losses*			*Value*
Available for sale
Government agency securities	$	1,257	$	37	$	—		$	1,294
SBA agency securities		4,125		269		—			4,394
Mortgage-backed securities- Government sponsored agencies		17,415		270		(8	)		17,677
Collateralized mortgage obligations		48,476		491		(93	)		48,874
Commercial paper		102,462		—		(14	)		102,448
Corporate debt securities		33,907		662		(6	)		34,563
Municipal securities		1,621		2		(6	)		1,617
Total	$	209,263	$	1,731	$	(127	)	$	210,867

Held to maturity
Municipal taxable securities	$	2,407	$	139	$	—		$	2,546
Municipal securities		4,767		290		—			5,057
Total	$	7,174	$	429	$	—		$	7,603

			*Gross*		*Gross*
	*Amortized*		*Unrealized*		*Unrealized*			*Fair*
December 31, 2019	*Cost*		*Gains*		*Losses*			*Value*
Available for sale
Government agency securities	$	1,591	$	—	$	(19	)	$	1,572
SBA agency securities		4,671		42		(22	)		4,691
Mortgage-backed securities- Government sponsored agencies		19,126		74		(29	)		19,171
Collateralized mortgage obligations		11,641		38		(25	)		11,654
Commercial paper		69,899		—		—			69,899
Corporate debt securities		18,801		281		—			19,082
Total	$	125,729	$	435	$	(95	)	$	126,069

Held to maturity
Municipal taxable securities	$	3,505	$	147	$	—		$	3,652
Municipal securities		4,827		153		—			4,980
Total	$	8,332	$	300	$	—		$	8,632

Investments Classified by Contractual Maturity Date [Table Text Block]

	*Less than One Year*				*More than One Year to Five Years*				*More than Five Years to Ten Years*				*More than Ten Years*				*Total*
	*Amortized*		*Estimated*		*Amortized*		*Estimated*		*Amortized*		*Estimated*		*Amortized*		*Estimated*		*Amortized*		*Estimated*
*(dollars in thousands)*	*Cost*		*Fair Value*		*Cost*		*Fair Value*		*Cost*		*Fair Value*		*Cost*		*Fair Value*		*Cost*		*Fair Value*
December 31, 2020
Government agency securities	$	—	$	—	$	1,257	$	1,294	$	—	$	—	$	—	$	—	$	1,257	$	1,294
SBA securities		—		—		595		625		3,530		3,769		—		—		4,125		4,394
Mortgage-backed securities- Government sponsored agencies		7,992		7,987		9,423		9,690		—		—		—		—		17,415		17,677
Collateralized mortgage obligations		—		—		11,911		12,258		36,565		36,616		—		—		48,476		48,874
Commercial paper		102,462		102,448		—		—		—		—		—		—		102,462		102,448
Corporate debt securities		4,991		5,029		11,683		11,740		13,233		13,743		4,000		4,051		33,907		34,563
Municipal securities		—		—		—		—		—		—		1,621		1,617		1,621		1,617
Total available for sale	$	115,445	$	115,464	$	34,869	$	35,607	$	53,328	$	54,128	$	5,621	$	5,668	$	209,263	$	210,867

Municipal taxable securities	$	899	$	910	$	1,508	$	1,636	$	—	$	—	$	—	$	—	$	2,407	$	2,546
Municipal securities		—		—		—		—		874		925		3,893		4,132		4,767		5,057
Total held to maturity	$	899	$	910	$	1,508	$	1,636	$	874	$	925	$	3,893	$	4,132	$	7,174	$	7,603

December 31, 2019
Government agency securities	$	—	$	—	$	1,591	$	1,572	$	—	$	—	$	—	$	—	$	1,591	$	1,572
SBA securities		—		—		714		725		3,957		3,966		—		—		4,671		4,691
Mortgage-backed securities- Government sponsored agencies		3,663		3,679		13,027		13,059		2,436		2,433		—		—		19,126		19,171
Collateralized mortgage obligations		—		—		9,288		9,265		2,353		2,389		—		—		11,641		11,654
Commercial paper		69,899		69,899		—		—		—		—		—		—		69,899		69,899
Corporate debt securities		1,015		1,020		2,002		2,008		11,772		12,024		4,012		4,030		18,801		19,082
Total available for sale	$	74,577	$	74,598	$	26,622	$	26,629	$	20,518	$	20,812	$	4,012	$	4,030	$	125,729	$	126,069

Municipal taxable securities	$	285	$	289	$	2,716	$	2,784	$	504	$	579	$	—	$	—	$	3,505	$	3,652
Municipal securities		—		—		40		40		366		379		4,421		4,561		4,827		4,980
Total held to maturity	$	285	$	289	$	2,756	$	2,824	$	870	$	958	$	4,421	$	4,561	$	8,332	$	8,632

Schedule of Unrealized Loss on Investments [Table Text Block]

	*Less than Twelve Months*							*Twelve Months or More*						*Total*
*(dollars in thousands)*	*Unrealized Losses*			*Estimated Fair Value*		*No. of Issuances*		*Unrealized Losses*		*Estimated Fair Value*		*No. of Issuances*		*Unrealized Losses*			*Estimated Fair Value*		*No. of Issuances*
December 31, 2020
Mortgage-backed securities- Government sponsored agencies	$	(8	)	$	12,982		3	$	—	$	—		—	$	(8	)	$	12,982		3
Collateralized mortgage obligations		(93	)		28,521		6		—		—		—		(93	)		28,521		6
Commercial paper		(14	)		16,982		4		—		—		—		(14	)		16,982		4
Corporate debt securities		(6	)		994		2		—		—		—		(6	)		994		2
Municipal securities		(6	)		1,092		2		—		—		—		(6	)		1,092		2
Total available for sale	$	(127	)	$	60,571		17	$	—	$	—		—	$	(127	)	$	60,571		17

	*Less than Twelve Months*							*Twelve Months or More*							*Total*

*(dollars in thousands)*	*Unrealized Losses*			*Estimated Fair Value*		*No. of Issuances*		*Unrealized Losses*			*Estimated Fair Value*		*No. of Issuances*		*Unrealized Losses*			*Estimated Fair Value*		*No. of Issuances*
December 31, 2019
Government agency securities	$	(19	)	$	1,572		2	$	—		$	—		—	$	(19	)	$	1,572		2
SBA securities		(22	)		1,469		2		—			—		—		(22	)		1,469		2
Mortgage-backed securities- Government sponsored agencies		(5	)		2,631		4		(24	)		3,912		6		(29	)		6,543		10
Collateralized mortgage obligations		(10	)		5,738		3		(15	)		953		2		(25	)		6,691		5
Total available for sale	$	(56	)	$	11,410		11	$	(39	)	$	4,865		8	$	(95	)	$	16,275		19

Note 5 - Loans (Tables)

12 Months Ended

Dec. 31, 2020

Financing Receivable, Allowance for Credit Loss [Table Text Block]

*(dollars in thousands)*	*2020*			*2019*			*2018*
Allowance for loan losses:
Beginning balance	$	18,816		$	17,577		$	13,773
Additions to the allowance charged to expense		11,823			2,390			4,469
Recoveries on loans charged-off		1			108			36
Less loans charged-off		(1,303	)		(1,259	)		(701	)
Ending balance	$	29,337		$	18,816		$	17,577

*(dollars in thousands)*
December 31, 2020	*Real Estate*		*Commercial*			*Other*			*Unallocated*			*Total*
Allowance for loan losses:
Beginning of year	$	15,118	$	3,588		$	9		$	101		$	18,816
Provisions		9,559		2,286			79			(101	)		11,823
Charge-offs		—		(1,258	)		(45	)		—			(1,303	)
Recoveries		—		1			—			—			1
	$	24,677	$	4,617		$	43		$	—		$	29,337
Reserves:
Specific	$	—	$	525		$	—		$	—		$	525
General		24,677		4,092			43			—			28,812
	$	24,677	$	4,617		$	43		$	—		$	29,337
Loans evaluated for impairment:
Individually	$	10,514	$	9,025		$	15		$	—		$	19,554
Collectively		2,304,203		378,935			4,074			—			2,687,212
	$	2,314,717	$	387,960		$	4,089		$	—		$	2,706,766

December 31, 2019	Real Estate			Commercial			Other		Unallocated		Total
Allowance for loan losses:
Beginning of year	$	13,437		$	4,140		$	—	$	—	$	17,577
Provisions		1,847			433			9		101		2,390
Charge-offs		(166	)		(1,093	)		—		—		(1,259	)
Recoveries		—			108			—		—		108
	$	15,118		$	3,588		$	9	$	101	$	18,816
Reserves:
Specific	$	—		$	—		$	—	$	—	$	—
General		15,118			3,588			9		101		18,816
	$	15,118		$	3,588		$	9	$	101	$	18,816
Loans evaluated for impairment:
Individually	$	3,795		$	9,423		$	—	$	—	$	13,218
Collectively		1,842,747			340,148			821		—		2,183,716
	$	1,846,542		$	349,571		$	821	$	—	$	2,196,934

December 31, 2018	*Real Estate*		*Commercial*			*Unallocated*			*Total*
Allowance for loan losses:
Beginning of year	$	9,309	$	4,044		$	420		$	13,773
Provisions		4,128		761			(420	)		4,469
Charge-offs		—		(701	)		—			(701	)
Recoveries		—		36			—			36
	$	13,437	$	4,140		$	—		$	17,577
Reserves:
Specific	$	44	$	—		$	—		$	44
General		13,393		4,140			—			17,533
Loans acquired with deteriorated credit quality		—		—			—			—
	$	13,437	$	4,140		$	—		$	17,577
Loans evaluated for impairment:
Individually	$	2,309	$	972		$	—		$	3,281
Collectively		1,750,896		387,838			—			2,138,734
	$	1,753,205	$	388,810		$	—		$	2,142,015

Financing Receivable Credit Quality Indicators [Table Text Block]

*(dollars in thousands)*			*Special*
December 31, 2020	*Pass*		*Mention*		*Substandard*		*Impaired*		*Total*
Real estate:
Construction and land development	$	186,550	$	—	$	—	$	173	$	186,723
Commercial real estate		947,643		756		52,611		2,627		1,003,637
Single-family residential mortgages		1,113,814		2,436		393		7,714		1,124,357
Commercial:
Commercial and industrial		278,357		999		8,620		2,163		290,139
SBA		86,573		186		4,200		6,862		97,821
Other		4,074		—		—		15		4,089
	$	2,617,011	$	4,377	$	65,824	$	19,554	$	2,706,766

			*Special*
December 31, 2019	*Pass*		*Mention*		*Substandard*		*Impaired*		*Total*
Real estate:
Construction and land development	$	95,756	$	—	$	—	$	264	$	96,020
Commercial real estate		767,603		5,353		18,115		2,197		793,268
Single-family residential mortgages		955,327		—		593		1,334		957,254
Commercial:
Commercial and industrial		265,178		4,078		5,330		—		274,586
SBA		61,496		189		3,877		9,423		74,985
Other		821		—		—		—		821
	$	2,146,181	$	9,620	$	27,915	$	13,218	$	2,196,934

Financing Receivable, Past Due [Table Text Block]

*(dollars in thousands)*	30-59		60-89		*90 Days*		*Total*		*Loans Not*				*Non- Accrual*
December 31, 2020	*Days*		*Days*		*Or More*		*Past Due*		*Past Due*		*Total Loans*		*Loans (1)*
Real estate:
Construction and land development	$	—	$	—	$	173	$	173	$	186,550	$	186,723	$	173
Commercial real estate		449		10		1,136		1,595		1,002,042		1,003,637		1,193
Single-family residential mortgages		4,219		4,859		6,008		15,086		1,109,271		1,124,357		7,714
Commercial:
Commercial and industrial		—		—		987		987		289,152		290,139		1,661
SBA		—		33		6,828		6,861		90,960		97,821		6,828
Other		42		—		15		57		4,032		4,089		15
	$	4,710	$	4,902	$	15,147	$	24,759	$	2,682,007	$	2,706,766	$	17,584
Real estate:
Single-family residential mortgages held for sale	$	—	$	—	$	—	$	—	$	49,963	$	49,963	$	—

	30-59		60-89		*90 Days*		*Total*		*Loans Not*				*Non- Accrual*
December 31, 2019	*Days*		*Days*		*Or More*		*Past Due*		*Past Due*		*Total Loans*		*Loans (1)*
Real estate:
Construction and land development	$	—	$	—	$	—	$	—	$	96,020	$	96,020	$	—
Commercial real estate		—		—		725		725		792,543		793,268		725
Single-family residential mortgages		1,454		1,560		450		3,464		953,790		957,254		1,334
Commercial:
Commercial and industrial		—		—		—		—		274,586		274,586		—
SBA		2,263		—		9,378		11,641		63,344		74,985		9,378
Other		—		—		—		—		821		821		—
	$	3,717	$	1,560	$	10,553	$	15,830	$	2,181,104	$	2,196,934	$	11,437
Real estate:
Single-family residential mortgages held for sale	$	—	$	—	$	—	$	—	$	108,194	$	108,194	$	—

Impaired Financing Receivables [Table Text Block]

	*Unpaid*
*(dollars in thousands)*	*Principal*		*Recorded*		*Average*		*Interest*		*Related*
December 31, 2020	*Balance*		*Investment*		*Balance*		*Income*		*Allowance*
With no related allowance recorded
Construction and land development	$	173	$	173	$	173	$	—	$	—
Commercial and industrial		1,710		1,662		1,819		31
Commercial real estate		2,633		2,627		2,724		136		—
Residential mortgage loans		7,839		7,714		7,934		—		—
Commercial - SBA		6,828		6,829		9,928		—		—
Other		15		15		15		—		—
With related allowance recorded
Commercial and industrial		520		501		563		—		520
Commercial-SBA		33		33		40		3		5
Total	$	19,751	$	19,554	$	23,196	$	170	$	525

	*Unpaid*
	*Principal*		*Recorded*		*Average*		*Interest*		*Related*
December 31, 2019	*Balance*		*Investment*		*Balance*		*Income*		*Allowance*
With no related allowance recorded
Construction and land development	$	264	$	264	$	271	$	24	$	—
Commercial real estate		2,198		2,197		2,384		100		—
Residential mortgage loans		1,349		1,334		1,351		—		—
Commercial - SBA		9,423		9,423		10,791		4		—
With related allowance recorded
Commercial real estate		—		—		—		—		—
Commercial-SBA		—		—		—		—		—
Total	$	13,234	$	13,218	$	14,797	$	128	$	—

		*Unpaid*
	*Principal*		*Recorded*		*Average*		*Interest*		*Related*
December 31, 2018	*Balance*		*Investment*		*Balance*		*Income*		*Allowance*
With no related allowance recorded
Construction and land development	$	276	$	276	$	283	$	23	$	—
Commercial real estate		2,033		2,033		2,126		134		—
Residential mortgage loans		—		—		—		—		—
Commercial - SBA		1,498		797		1,377		19		—
With related allowance recorded
Commercial-SBA		175		175		193		1		44
Total	$	3,982	$	3,281	$	3,979	$	177	$	44

Financing Receivable, Troubled Debt Restructuring [Table Text Block]

December 31,

2020

2019

2018

Pre-

Post-

Pre-

Post-

Pre-

Post-

Modification

Number of

Recorded

Number of

Recorded

Number of

Recorded

(dollars in thousands)

Loans

Investment

Loans

Investment

Loans

Investment

Commercial real estate

1,719

476

1,029

Note 6 - Loan Servicing (Tables)

12 Months Ended

Dec. 31, 2020

Mortgage And Small Business Administration Loans Serviced For Others [Table Text Block]

	*December 31,*		*December 31,*
*(dollars in thousands)*	*2020*		*2019*
Loans serviced for others:
Mortgage loans	$	1,512,969	$	1,683,298
SBA loans		156,222		170,849
Commercial real estate loans		4,145		4,216

Servicing Asset at Amortized Cost [Table Text Block]

	*2020*						*2019*						*2018*
	*Mortgage*			*SBA*			*Mortgage*			*SBA*			*Mortgage*			*SBA*
*(dollars in thousands)*	*Loans*			*Loans*			*Loans*			*Loans*			*Loans*			*Loans*
Servicing assets:
Beginning of period	$	12,997		$	4,086		$	12,858		$	4,512		$	1,540		$	4,417
Acquisitions		—			—			—			—			10,651			—
Additions		1,422			293			2,088			980			1,562			1,932
Disposals		(1,513	)		(401	)		(128	)		(708	)		(197	)		(1,177	)
Amortized to expense		(1,960	)		(542	)		(1,821	)		(698	)		(698	)		(660	)
Impairment		(417	)		—			—			—			—			—
End of period	$	10,529		$	3,436		$	12,997		$	4,086		$	12,858		$	4,512

Note 7 - Premises and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Table Text Block]

(dollars in thousands)	2020			2019
Land	$	9,066		$	5,020
Building and improvements		15,040			7,822
Furniture, fixtures, and equipment		6,772			6,252
Leasehold improvements		5,315			5,590
		36,193			24,684
Less accumulated depreciation and amortization		(9,773	)		(8,102	)
Construction in progress		683			231
	$	27,103		$	16,813

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

*(dollars in thousands)*
Year ending December 31:
2021	$	5,082
2022		4,624
2023		3,695
2024		2,667
2025		2,528
Thereafter		9,477
	$	28,073

Note 8 - Deposits (Tables)

12 Months Ended

Dec. 31, 2020

Time Deposit Maturities [Table Text Block]

*(dollars in thousands)*
One year	$	1,198,799
Two to three years		78,518
Over three years		9,521
Total	$	1,286,838

Note 9 - Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Long-term Debt Instruments [Table Text Block]

*(dollars in thousands)*	*2020*		*2019*
Principal	$	105,000	$	105,000
Unamortized debt issuance costs	$	609	$	951

Schedule of Interest and Amortizations Expense [Table Text Block]

	*For the Year Ended December 31,*
*(dollars in thousands)*	*2020*		*2019*
Interest Expense:
Interest	$	6,649	$	6,649
Amortization		342		342

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Note 12 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

*(dollars in thousands)*	*2020*			*2019*		*2018*
Current:
Federal	$	9,948		$	8,074	$	6,616
State		6,602			5,614		3,451
		16,550			13,688		10,067
Deferred		(2,998	)		1,503		(131	)
Deferred tax adjustment for change in tax rate		—			21		(479	)
Amortization of investment in affordable housing tax credits		979			900		644
	$	14,531		$	16,112	$	10,101

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	*2020*						*2019*						*2018*
*(dollars in thousands)*	*Amount*			*Rate %*			*Amount*			*Rate %*			*Amount*			*Rate %*
Statutory federal tax	$	9,966			21.0		$	11,617			21.0		$	9,703			21.0
State franchise tax, net of federal benefit		4,024			8.5			5,322			9.6			3,488			7.5
Tax-exempt income		(192	)		(0.4	)		(25	)		—			(27	)		(0.1	)
Tax impact from change in tax rate		68			0.1			17			—			(479	)		(1.0	)
Stock-based compensation		123			0.3			(27	)		—			(2,643	)		(5.7	)
Other items, net		542			1.1			(792	)		(1.4	)		59			0.1
Actual tax expense	$	14,531			30.6		$	16,112			29.2		$	10,101			21.8

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

*(dollars in thousands)*	*2020*			*2019*
Deferred tax assets:
Pre-opening expenses	$	242		$	122
Allowance for loan losses		8,575			5,883
Stock-based compensation		1,074			1,346
Off balance sheet reserve		425			258
Operating loss carryforwards		1,196			1,253
Other real estate owned		10			37
Mark to market on held for sale mortgage loans		486			359
State tax		1,473			738
Other		393			856
		13,874			10,852
Deferred tax liabilities:
Depreciation		(1,212	)		(282	)
Deferred loan costs		(2,482	)		(1,104	)
Unrealized gain on AFS securities		(497	)		(106	)
Acquisition accounting fair value adjustments		(3,584	)		(2,671	)
Mortgage servicing rights		(3,204	)		(3,745	)
Other		(348	)		(618	)
		(11,327	)		(8,526	)
Net deferred tax assets	$	2,547		$	2,326

Note 13 - Commitments (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block]

	*2020*				*2019*
	*Fixed*		*Variable*		*Fixed*		*Variable*
*(dollars in thousands)*	*Rate*		*Rate*		*Rate*		*Rate*
Commitments to make loans	$	7	$	281,489	$	—	$	167,496
Unused lines of credit		57,437		211,192		55,789		102,841
Commercial and similar letters of credit		8,284		—		—		358
Standby letters of credit		1,455		2,576		2,485		1,230
	$	67,183	$	495,257	$	58,274	$	271,925

Note 14 - Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2020

*(dollars in thousands)*	*2020*			*2019*
Beginning balance	$	4,000		$	3,600
New loans and advances		11,498			16,180
Repayments		(14,255	)		(15,780	)
Ending balance	$	1,243		$	4,000

Note 15 - Stock Option Plan (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	July 2020			January 2020			January 2019
Expected volatility		31.8	%		28.5	%		35.0	%
Expected term		6.0 years			6.0 years			6.0 years
Expected dividends		2.48	%		1.99	%		1.90	%
Risk free rate		0.29	%		1.31	%		2.66	%
Grant date fair value	$	2.97		$	4.61		$	6.32

Share-based Payment Arrangement, Option and Stock Appreciation Rights, Activity [Table Text Block]

						*Weighted-*
				*Weighted-*		*Average*
				*Average*		*Remaining*		*Aggregate*
				*Exercise*		*Contractual*		*Intrinsic*
*(dollars in thousands, except for share amounts)*	*Shares*			*Price*		*Term*		*Value*
Outstanding at beginning of year		1,090,968		$	13.11
Granted		108,000			16.53
Exercised		(56,498	)		12.61
Forfeited/cancelled		(36,000	)		18.32
Outstanding at end of year		1,106,470		$	13.30		3.59 years	$	3,184,187

Options exercisable		958,470		$	12.73		2.76 years	$	3,067,737

Note 16 - Regulatory Matters (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block]

						*Amount of Capital Required*
											*To Be Well-Capitalized*
						*Minimum Required for*					*Under Prompt Corrective*
	*Actual*					*Capital Adequacy Purposes*					*Provisions*
*(dollars in thousands)*	*Amount*		*Ratio*			*Amount*		*Ratio*			*Amount*		*Ratio*
As of December 31, 2020:
Tier 1 Leverage Ratio
Consolidated	$	368,413		11.32	%		130,219		4.0	%		162,774		5.0	%
Bank		458,614		14.11	%	$	129,989		4.0	%	$	162,487		5.0	%
Common Equity Tier 1 Risk-Based Capital Ratio
Consolidated	$	354,130		14.62	%		109,021		4.5	%		157,474		6.5	%
Bank		458,614		18.94	%		108,966		4.5	%		157,395		6.5	%
Tier 1 Risk-Based Capital Ratio
Consolidated	$	368,413		15.21	%		145,361		6.0	%		193,814		8.0	%
Bank		458,614		18.94	%		145,288		6.0	%		193,717		8.0	%
Total Risk-Based Capital Ratio
Consolidated	$	503,093		20.77	%		193,814		8.0	%		242,268		10.0	%
Bank		488,888		20.19	%		193,717		8.0	%		242,146		10.0	%

						Amount of Capital Required
											To Be Well-Capitalized
						*Minimum Required for*					*Under Prompt Corrective*
	*Actual*					*Capital Adequacy Purposes*					*Provisions*
(dollars in thousands)	*Amount*		*Ratio*			*Amount*		*Ratio*			*Amount*		*Ratio*
As of December 31, 2019:
Tier 1 Leverage Ratio
Consolidated	$	353,572		12.89	%	NA		NA			NA		NA
Bank		417,036		15.23	%	$	108,150		4.0	%	$	135,187		5.0	%
Common Equity Tier 1 Risk Based Capital Ratio
Consolidated	$	343,899		17.16	%	NA		NA			NA		NA
Bank		417,036		20.87	%	$	89,127		4.5	%	$	128,739		6.5	%
Tier 1 Risk-Based Capital Ratio
Consolidated	$	353,572		17.65	%	NA		NA			NA		NA
Bank		417,036		20.87	%		118,836		6.0	%	$	158,448		8.0	%
Total Risk-Based Capital Ratio
Consolidated	$	477,262		23.82	%	NA		NA			NA		NA
Bank		436,677		21.86	%	$	158,448		8.0	%	$	198,061		10.0	%

Note 17 - Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

*(dollars in thousands)*	*Fair Value Measurements Using:*
December 31, 2020	*Level 1*		*Level 2*		*Level 3*		*Total*
Assets measured at fair value:
On a recurring basis:
Securities available for sale
Government agency securities	$	—	$	1,294	$	—	$	1,294
SBA agency securities		—		4,394		—		4,394
Mortgage-backed securities		—		17,677		—		17,677
Collateralized mortgage obligations		—		48,874		—		48,874
Commercial paper		—		102,448		—		102,448
Corporate debt securities		—		34,563		—		34,563
Municipal securities		—		1,617		—		1,617
Interest Rate Lock Contracts		—		—		45		45
Forward Mortgage Loan Sale Contracts		—		—		214		214
	$	—	$	210,867	$	259	$	211,126
On a non-recurring basis:
Commercial real estate - collateral dependent impaired loans	$	—	$	—	$	643	$	643
SBA - collateral dependent impaired loans		—		—		3,534		3,534
Other real estate owned		—		—		293		293
	$	—	$	—	$	4,470	$	4,470

December 31, 2019	*Level 1*		*Level 2*		*Level 3*		*Total*
Assets measured at fair value:
On a recurring basis:
Securities available for sale
Government agency securities	$	—	$	1,572	$	—	$	1,572
SBA agency securities		—		4,691		—		4,691
Mortgage-backed securities		—		19,171		—		19,171
Collateralized mortgage obligations		—		11,654		—		11,654
Commercial paper		—		69,898		—		69,898
Corporate debt securities		—		19,082		—		19,082
	$	—	$	126,068	$	—	$	126,068
On a non-recurring basis:
Other real estate owned		—		—	$	293	$	293
	$	—	$	—	$	293	$	293

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

*(dollars in thousands)*	*Fair Value*		*Valuation*	*Unobservable*	*Adjustment*
December 31, 2020	*Amount*		*Technique*	*Input*	*Range*
Other real estate owned	$	293	Third Party	Management Adjustments		5% - 6%
			Appraisals	to Reflect Current
				Conditions and Selling
				Costs
Commercial real estate - collateral dependent impaired loans		643	Third Party	Management Adjustments		10%
			Appraisals	to Reflect Current
				Conditions and Selling
				Costs
SBA - collateral dependent impaired loans		3,534	Third Party	Management Adjustments		10%
			Appraisals	to Reflect Current
				Conditions and Selling
				Costs
December 31, 2018
Other real estate owned	$	293	Third Party	Management Adjustments		5% - 6%
			Appraisals	to Reflect Current
				Conditions and Selling
				Costs

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

Note 18 - Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value, by Balance Sheet Grouping [Table Text Block]

		*2020*				*2019*
	*Fair Value*	*Carrying*		*Fair*		*Carrying*		*Fair*
*(dollars in thousands)*	*Hierarchy*	*Value*		*Value*		*Value*		*Value*
Financial Assets:
Cash and due from banks	Level 1	$	137,654	$	137,654	$	114,763	$	114,763
Federal funds sold and other cash equivalents	Level 1		57,000		57,000		67,000		67,000
Interest-earning deposits in other financial institutions	Level 1		600		600		600		600
Investment securities - AFS	Level 2		210,867		210,867		126,069		126,069
Investment securities - HTM	Level 2		7,174		7,603		8,332		8,632
Mortgage loans held for sale	Level 1		49,963		50,716		108,194		109,385
Loans, net	Level 3		2,677,429		2,687,751		2,178,118		2,158,970
Equity securities	Level 3		14,894		14,894		11,826		11,826
Mortgage servicing rights	Level 2		13,965		15,617		17,083		20,752

			*Notional*		*Fair*		*Notional*		*Fair*
Derivative assets:			*Value*		*Value*		*Value*		*Value*
Interest Rate Lock Contracts	Level 3	$	27,665	$	45	$	—	$	—
Forward Mortgage Loan Sale Contracts	Level 3		55,089		214		—		—

			*Carrying*		*Fair*		*Carrying*		*Fair*
Financial Liabilities:			*Value*		*Value*		*Value*		*Value*
Deposits	Level 2	$	2,635,128	$	2,632,933	$	2,248,938	$	2,236,329
FHLB advances	Level 2		150,000		149,964		—		—
Long-term debt	Level 2		104,391		137,930		104,049		109,877
Subordinated debentures	Level 2		14,283		14,654		9,673		11,709

Note 19 - Earnings Per Share ("EPS") (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	*2020*					*2019*						*2018*
*(dollars in thousands except per share amounts)*	*Income*			*Shares*		*Income*			*Shares*			*Income*		*Shares*
Net income as reported	$	32,928				$	39,209					$	36,105
Less: Earnings allocated to Participating Securities		(37	)				(74	)					—
Shares outstanding					19,565,921					20,030,866					20,000,022
Impact of weighting shares					197,501					(13,560	)				(2,848,800	)
Used in basic EPS		32,891			19,763,422		39,135			20,017,306			36,105		17,151,222
Dilutive effect of outstanding
Stock options					158,437					376,118					816,431
Used in dilutive EPS	$	32,891			19,921,859	$	39,135			20,393,424		$	36,105		17,967,653

Basic earnings per common share	$	1.66				$	1.96					$	2.11
Diluted earnings per common share		1.65					1.92						2.01

Note 20 - Revenue From Contracts With Customers (Tables)

12 Months Ended

Dec. 31, 2020

Disaggregation of Revenue [Table Text Block]

	*For the Year Ended December 31,*
*(dollars in thousands)*	*2020*		*2019*			*2018*
Non-interest income, in scope ⁽¹⁾
Fees and service charges on deposit accounts	$	1,636	$	1,366		$	1,115
Other fees ⁽²⁾		832		1,118			723
Other income ⁽³⁾		2,013		1,429			709
(Loss) on sale of OREO and fixed assets		—		(100	)		—
Total in-scope non-interest income		4,481		3,813			2,547
Non-interest income, not in scope ⁽⁴⁾		9,559		14,507			10,295
Total non-interest income	$	14,040	$	18,320		$	12,842

Note 22 - Parent Only Condensed Financial Information (Tables)

12 Months Ended

Dec. 31, 2020

Condensed Balance Sheet [Table Text Block]

*(Dollars in Thousands)*	*2020*		*2019*
ASSETS
Cash and cash equivalents	$	7,089	$	29,985
Investment in Bank		532,972		480,703
Investment in RAM		2,933		6,870
Other assets		5,782		4,202
Total assets	$	548,776	$	521,760

LIABILITIES AND SHAREHOLDERS' EQUITY
Long term debt	$	104,391	$	104,049
Subordinated debentures		14,283		9,673
Other liabilities		1,614		348
Total liabilities		120,288		114,070
Shareholders' equity:
Common stock		284,261		290,395
Additional paid-in capital		4,932		4,938
Retained earnings		138,094		112,046
Non-controlling interest		72		72
Accumulated other comprehensive income		1,129		239
Total shareholders' equity		428,488		407,690
Total liabilities and shareholders' equity	$	548,776	$	521,760

Condensed Income Statement [Table Text Block]

*(Dollars in Thousands)*	*2020*			*2019*			*2018*
Interest income	$	—		$	—		$	15
Dividend from subsidiaries		29,000			—			—
Interest expense		7,677			7,697			4,083
Noninterest expense		1,292			1,300			1,255
Income (loss) before equity in undistributed income of subsidiaries		20,031			(8,997	)		(5,323	)
Equity in undistributed income of:
Bank		14,053			45,324			39,198
RAM		(3,936	)		74			528
Income before income taxes		30,148			36,401			34,403
Income tax benefit		2,780			2,808			1,702
Net income		32,928			39,209			36,105
Other comprehensive income (loss)		890			1,577			(895	)
Total comprehensive income	$	33,818		$	40,786		$	35,210

Condensed Cash Flow Statement [Table Text Block]

*(Dollars in Thousands)*	*2020*			*2019*			*2018*
Cash flows from operating activities:
Net income	$	32,928		$	39,209		$	36,105
Net amortization of debt issue costs and valuation reserve		560			508			268
Provision for deferred income taxes		441			513			(1,905	)
Undistributed income of subsidiaries		(10,116	)		(45,398	)		(39,726	)
Change in other assets and liabilities		(742	)		(1,981	)		3,493
		23,071			(7,149	)		(1,765	)
Cash flows from investment activities:
Net cash acquired (outlay) in connection with acquisition		6,634			—			(41,358	)
Investment in subsidiaries		(38,895	)		—			(15,000	)
		(32,261	)		—			(56,358	)
Cash flows from financing activities:
Issuance of subordinated debentures, net of issuance costs		—			—			54,018
Dividends paid		(6,567	)		(8,033	)		(5,753	)
Common stock repurchased, net of repurchased costs		(7,851	)		(3,190	)		—
Stock options exercised		712			2,817			9,629
		(13,706	)		(8,406	)		57,894

Increase in cash and cash equivalents		(22,896	)		(15,555	)		(229	)
Cash and cash equivalents beginning of year		29,985			45,540			45,769
Cash and cash equivalents end of year	$	7,089		$	29,985		$	45,540

Note 24 - Quarterly Income Statements (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information [Table Text Block]

	*2020*								*2019*
(dollars in thousands)	*4th Quarter*		*3rd Quarter*		*2nd Quarter*		*1st Quarter*		*4th Quarter*		*3rd Quarter*		*2nd Quarter*		*1st Quarter*
Interest income	$	35,864	$	35,125	$	34,103	$	34,028	$	33,907	$	34,669	$	35,943	$	37,206
Interest expense		6,987		7,874		9,069		10,435		10,784		11,157		11,626		11,294
Net interest income		28,877		27,251		25,034		23,593		23,123		23,512		24,317		25,912
Provision for credit losses		3,008		3,861		3,009		1,945		659		824		357		550
Net interest income after provision for credit losses		25,869		23,390		22,025		21,648		22,464		22,688		23,960		25,362
Noninterest income:		4,490		2,727		2,208		4,615		5,823		2,799		5,496		4,202
Noninterest expense:		14,453		13,978		14,819		16,263		13,463		13,786		14,899		15,325
Income before income taxes		15,906		12,139		9,414		10,000		14,824		11,701		14,557		14,239
Income tax expense		4,759		3,619		2,901		3,252		4,149		3,689		4,415		3,859
Net income	$	11,147	$	8,520	$	6,513	$	6,748	$	10,675	$	8,012	$	10,142	$	10,380

Net income per share
Basic	$	0.57	$	0.43	$	0.33	$	0.34	$	0.53	$	0.40	$	0.51	$	0.52
Diluted		0.56		0.43		0.33		0.33		0.52		0.39		0.50		0.51

Note 1 - Business Description (Details Textual) $ / shares in Units, $ in Thousands		102 Months Ended
	Jul. 31, 2017 $ / shares shares	Jan. 10, 2020	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Assets, Total			$ 3,350,072	$ 2,788,535
Loans Held for Investment and Held for Sale, Gross			2,800,000
Deposits, Total			2,635,128	2,248,938
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance			$ 428,488	$ 407,690	$ 374,621	$ 265,176
Number of Businesses Acquired		6
PGB Holdings Inc. [Member]
Number of Branches		3
PGB Holdings Inc. [Member] \| ILLINOIS
Number of Branches		3
IPO [Member]
Stock Issued During Period, Shares, New Issues (in shares) \| shares	3,750,000
Share Price (in dollars per share) \| $ / shares	$ 23.00

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual)	12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Jan. 01, 2021 USD ($)	Jan. 10, 2020 USD ($)
Cash Reserve Deposit Required and Made	$ 0	$ 29,500,000
Gain (Loss) on Sales of Loans, Net, Total	5,997,000	9,893,000	$ 7,126,000
Gain (Loss) on Sale of Mortgage Loans	5,200,000	8,200,000	4,300,000
Gain (Loss) on Sales of Small Business Administration Loans	754,000	1,500,000	2,800,000
Gain (Loss) on Sales of Commercial Real Estate Loans	0	152,000	0
Goodwill, Ending Balance	69,243,000	58,563,000			$ 10,680,000
Goodwill, Impairment Loss	0	0
Amortization of Intangible Assets, Total	$ 5,812,000	4,856,000	3,302,000
Number of Operating Segments	1
Loans and Leases Receivable, Held for Investment and Sale, Before Fees, Gross	$ 2,800,000,000
Percentage of Gross Loans with LIBOR Based Reference Rate	13.00%
Subsequent Event [Member] \| Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset				$ 26,700,000
Operating Lease, Liability, Total				$ 26,700,000
The 401(k) Plan [Member]
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 424,000	570,000	341,000
Investments under Community Reinvestment Act [Member]
Equity Securities without Readily Determinable Fair Value, Amount	14,900,000	11,800,000
Core Deposits [Member]
Intangible Assets, Net (Excluding Goodwill), Total	5,200,000	6,100,000
Finite-Lived Intangible Assets, Accumulated Amortization	4,500,000	3,100,000
Amortization of Intangible Assets, Total	$ 1,400,000	$ 1,500,000	$ 575,000
Minimum [Member] \| Core Deposits [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	8 years
Maximum [Member] \| Core Deposits [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	10 years
Premises [Member]
Property, Plant and Equipment, Useful Life (Year)	30 years
Leasehold Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Leasehold Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	10 years
Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	10 years

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies - Estimated CDI Amortization Expense (Details) - Core Deposits [Member] $ in Thousands	Dec. 31, 2020 USD ($)
2021	$ 1,121
2022	936
2023	800
2024	683
2025	589
Thereafter	1,067
Total	$ 5,196

Note 3 - Acquisitions (Details Textual) $ in Thousands	Jan. 10, 2020 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Payments to Acquire Businesses, Gross	$ 32,885
Goodwill, Ending Balance	10,680	$ 69,243	$ 58,563
PGB Holdings Inc. [Member]
Payments to Acquire Businesses, Gross	$ 32,900
Number of Branches	3
Goodwill, Ending Balance	$ 10,700

Note 3 - Acquisitions - Assets Acquired and Liabilities Assumed, and Fair Value Adjustments (Details) - USD ($) $ in Thousands	Jan. 10, 2020	Dec. 31, 2020	Dec. 31, 2019
Cash and cash equivalents	$ 17,033
Fed funds sold	8,300
Interest-bearing deposits in other financial Institutions	14,186
Loans, gross	173,109
Allowance for loan losses	0
Bank premises and equipment	8,033
Core deposit premium	491
Investment in trust	155
Other assets	1,107
Total assets acquired	222,414
Deposits	188,362
Escrow Payable	4,277
Subordinated debentures	4,392
Deferred income taxes	2,351
Other liabilities	827
Total liabilities assumed	200,209
Excess of assets acquired over liabilities assumed	22,205
Cash paid	32,885
Goodwill recognized	10,680	$ 69,243	$ 58,563
Reported Value Measurement [Member]
Cash and cash equivalents	17,033
Fed funds sold	8,300
Interest-bearing deposits in other financial Institutions	14,186
Loans, gross	172,443
Allowance for loan losses	(2,265)
Bank premises and equipment	6,394
Core deposit premium	0
Investment in trust	155
Other assets	1,687
Total assets acquired	217,933
Deposits	187,393
Escrow Payable	4,277
Subordinated debentures	5,155
Deferred income taxes	1,016
Other liabilities	1,211
Total liabilities assumed	199,052
Excess of assets acquired over liabilities assumed	18,881
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net, Total	217,933
Changes Measurement [Member]
Cash and cash equivalents	0
Fed funds sold	0
Interest-bearing deposits in other financial Institutions	0
Loans, gross	666
Allowance for loan losses	2,265
Bank premises and equipment	1,639
Core deposit premium	491
Investment in trust	0
Other assets	(580)
Total assets acquired	4,481
Deposits	969
Escrow Payable	0
Subordinated debentures	(763)
Deferred income taxes	1,335
Other liabilities	(384)
Total liabilities assumed	1,157
Excess of assets acquired over liabilities assumed	3,324
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net, Total	$ 4,481

Note 3 - Acquisitions - Schedule of Loans Acquired (Details) - PGB Holdings Inc. [Member] $ in Thousands	Jan. 10, 2020 USD ($)
Contractual amounts due	$ 195,227
Cash flows not expected to be collected	5,176
Expected cash flows	190,051
Interest component of expected cash flows	16,942
Fair value of acquired loans	$ 173,109

Note 3 - Acquisitions - Schedule of Net Interest and Other Income, Net Income, and Earnings Per Share (Details) - PGB Holdings Inc. [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Net interest and other income	$ 119,029	$ 124,537
Net income	$ 31,762	$ 41,915
Basic earnings per share (in dollars per share)	$ 1.61	$ 2.09
Diluted earnings per share (in dollars per share)	$ 1.59	$ 2.06

Note 4 - Investment Securities (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Proceeds from Sale of Debt Securities, Available-for-sale	$ 11,661,000	$ 6,143,000	$ 44,591,000
Debt Securities, Available-for-sale, Realized Gain (Loss), Total	210,000	7,000	$ 5,000
Security Owned and Pledged as Collateral, Fair Value, Total	$ 320,000	$ 627,000

Note 4 - Investment Securities - Amortized Cost and Fair Value of Available for Sale Securities and Held to Maturity Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Available for sale, amortized cost	$ 209,263	$ 125,729
Available for sale, gross unrealized gains	1,731	435
Available for sale, gross unrealized losses	(127)	(95)
Available for sale	210,867	126,069
Held to maturity (fair value of $7,603 and $8,632 at December 31, 2020 and December 31, 2019, respectively)	7,174	8,332
Held to maturity, gross unrealized gains	429	300
Held to maturity, gross unrealized losses	0	0
Securities held to maturity, fair value	7,603	8,632
US Government Agencies Debt Securities [Member]
Available for sale, amortized cost	1,257	1,591
Available for sale, gross unrealized gains	37	0
Available for sale, gross unrealized losses	0	(19)
Available for sale	1,294	1,572
Small Business Administration Agency Securities [Member]
Available for sale, amortized cost	4,125	4,671
Available for sale, gross unrealized gains	269	42
Available for sale, gross unrealized losses	0	(22)
Available for sale	4,394	4,691
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Available for sale, amortized cost	17,415	19,126
Available for sale, gross unrealized gains	270	74
Available for sale, gross unrealized losses	(8)	(29)
Available for sale	17,677	19,171
Collateralized Mortgage Obligations [Member]
Available for sale, amortized cost	48,476	11,641
Available for sale, gross unrealized gains	491	38
Available for sale, gross unrealized losses	(93)	(25)
Available for sale	48,874	11,654
Commercial Paper [Member]
Available for sale, amortized cost	102,462	69,899
Available for sale, gross unrealized gains	0	0
Available for sale, gross unrealized losses	(14)	0
Available for sale	102,448	69,899
Corporate Debt Securities [Member]
Available for sale, amortized cost	33,907	18,801
Available for sale, gross unrealized gains	662	281
Available for sale, gross unrealized losses	(6)	0
Available for sale	34,563	19,082
Municipal Bonds [Member]
Available for sale, amortized cost	1,621	4,827
Available for sale, gross unrealized gains	2	153
Available for sale, gross unrealized losses	(6)	0
Available for sale	1,617	4,980
Held to maturity (fair value of $7,603 and $8,632 at December 31, 2020 and December 31, 2019, respectively)	4,767	4,827
Held to maturity, gross unrealized gains	290
Held to maturity, gross unrealized losses	0
Securities held to maturity, fair value	5,057	4,980
Taxable Municipal Bonds [Member]
Held to maturity (fair value of $7,603 and $8,632 at December 31, 2020 and December 31, 2019, respectively)	2,407	3,505
Held to maturity, gross unrealized gains	139	147
Held to maturity, gross unrealized losses	0	0
Securities held to maturity, fair value	$ 2,546	$ 3,652

Note 4 - Investment Securities - Expected Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Less than one year, Available for sale, Amortized Cost	$ 115,445	$ 74,577
Less than one year, Available for sale, Estimated Fair Value	115,464	74,598
More than one year to five years, Available for sale, Amortized Cost	34,869	26,622
Available for sale, Estimated Fair Value, More than one year to five years	35,607	26,629
More than five years to ten years, Available for sale, Amortized Cost	53,328	20,518
More than five years to ten years, Available for sale, Estimated Fair Value	54,128	20,812
More than ten years, Available for sale, Amortized Cost	5,621	4,012
More than ten years, Available for sale, Estimated Fair Value	5,668	4,030
Available for sale, amortized cost	209,263	125,729
Available for sale	210,867	126,069
Less than one year, Held to Maturity, Amortized Cost	899	285
Held to maturity, Estimated Fair Value	910	289
More than one year to five years, Held to maturity, Amortized Cost	1,508	2,756
More than one year to five years, Held to Maturity, Estimated Fair Value	1,636	2,824
More than five years to ten years, Held to maturity Amortized Cost	874	870
More than five years to ten years, Held to Maturity, Amortized Cost	925	958
More than ten years, Held to Maturity, Amortized Cost	3,893	4,421
More than ten years, Held to Maturity, Estimated Fair Value	4,132	4,561
Held to maturity (fair value of $7,603 and $8,632 at December 31, 2020 and December 31, 2019, respectively)	7,174	8,332
Securities held to maturity, fair value	7,603	8,632
US Government Agencies Debt Securities [Member]
Less than one year, Available for sale, Amortized Cost	0	0
Less than one year, Available for sale, Estimated Fair Value	0	0
More than one year to five years, Available for sale, Amortized Cost	1,257	1,591
Available for sale, Estimated Fair Value, More than one year to five years	1,294	1,572
More than five years to ten years, Available for sale, Amortized Cost	0	0
More than five years to ten years, Available for sale, Estimated Fair Value	0	0
More than ten years, Available for sale, Amortized Cost	0	0
More than ten years, Available for sale, Estimated Fair Value	0	0
Available for sale, amortized cost	1,257	1,591
Available for sale	1,294	1,572
Small Business Administration Agency Securities [Member]
Less than one year, Available for sale, Amortized Cost	0	0
Less than one year, Available for sale, Estimated Fair Value	0	0
More than one year to five years, Available for sale, Amortized Cost	595	714
Available for sale, Estimated Fair Value, More than one year to five years	625	725
More than five years to ten years, Available for sale, Amortized Cost	3,530	3,957
More than five years to ten years, Available for sale, Estimated Fair Value	3,769	3,966
More than ten years, Available for sale, Amortized Cost	0	0
More than ten years, Available for sale, Estimated Fair Value	0	0
Available for sale, amortized cost	4,125	4,671
Available for sale	4,394	4,691
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Less than one year, Available for sale, Amortized Cost	7,992	3,663
Less than one year, Available for sale, Estimated Fair Value	7,987	3,679
More than one year to five years, Available for sale, Amortized Cost	9,423	13,027
Available for sale, Estimated Fair Value, More than one year to five years	9,690	13,059
More than five years to ten years, Available for sale, Amortized Cost	0	2,436
More than five years to ten years, Available for sale, Estimated Fair Value	0	2,433
More than ten years, Available for sale, Amortized Cost	0	0
More than ten years, Available for sale, Estimated Fair Value	0	0
Available for sale, amortized cost	17,415	19,126
Available for sale	17,677	19,171
Collateralized Mortgage Obligations [Member]
Less than one year, Available for sale, Amortized Cost	0	0
Less than one year, Available for sale, Estimated Fair Value	0	0
More than one year to five years, Available for sale, Amortized Cost	11,911	9,288
Available for sale, Estimated Fair Value, More than one year to five years	12,258	9,265
More than five years to ten years, Available for sale, Amortized Cost	36,565	2,353
More than five years to ten years, Available for sale, Estimated Fair Value	36,616	2,389
More than ten years, Available for sale, Amortized Cost	0	0
More than ten years, Available for sale, Estimated Fair Value	0	0
Available for sale, amortized cost	48,476	11,641
Available for sale	48,874	11,654
Commercial Paper [Member]
Less than one year, Available for sale, Amortized Cost	102,462	69,899
Less than one year, Available for sale, Estimated Fair Value	102,448	69,899
More than one year to five years, Available for sale, Amortized Cost	0	0
Available for sale, Estimated Fair Value, More than one year to five years	0	0
More than five years to ten years, Available for sale, Amortized Cost	0	0
More than five years to ten years, Available for sale, Estimated Fair Value	0	0
More than ten years, Available for sale, Amortized Cost	0	0
More than ten years, Available for sale, Estimated Fair Value	0	0
Available for sale, amortized cost	102,462	69,899
Available for sale	102,448	69,899
Corporate Debt Securities [Member]
Less than one year, Available for sale, Amortized Cost	4,991	1,015
Less than one year, Available for sale, Estimated Fair Value	5,029	1,020
More than one year to five years, Available for sale, Amortized Cost	11,683	2,002
Available for sale, Estimated Fair Value, More than one year to five years	11,740	2,008
More than five years to ten years, Available for sale, Amortized Cost	13,233	11,772
More than five years to ten years, Available for sale, Estimated Fair Value	13,743	12,024
More than ten years, Available for sale, Amortized Cost	4,000	4,012
More than ten years, Available for sale, Estimated Fair Value	4,051	4,030
Available for sale, amortized cost	33,907	18,801
Available for sale	34,563	19,082
Municipal Bonds [Member]
Less than one year, Available for sale, Amortized Cost	0
Less than one year, Available for sale, Estimated Fair Value	0
More than one year to five years, Available for sale, Amortized Cost	0
Available for sale, Estimated Fair Value, More than one year to five years	0
More than five years to ten years, Available for sale, Amortized Cost	0
More than five years to ten years, Available for sale, Estimated Fair Value	0
More than ten years, Available for sale, Amortized Cost	1,621
More than ten years, Available for sale, Estimated Fair Value	1,617
Available for sale, amortized cost	1,621	4,827
Available for sale	1,617	4,980
Less than one year, Held to Maturity, Amortized Cost	0	0
Held to maturity, Estimated Fair Value	0	0
More than one year to five years, Held to maturity, Amortized Cost	0	40
More than one year to five years, Held to Maturity, Estimated Fair Value	0	40
More than five years to ten years, Held to maturity Amortized Cost	874	366
More than five years to ten years, Held to Maturity, Amortized Cost	925	379
More than ten years, Held to Maturity, Amortized Cost	3,893	4,421
More than ten years, Held to Maturity, Estimated Fair Value	4,132	4,561
Held to maturity (fair value of $7,603 and $8,632 at December 31, 2020 and December 31, 2019, respectively)	4,767	4,827
Securities held to maturity, fair value	5,057	4,980
Taxable Municipal Bonds [Member]
Less than one year, Held to Maturity, Amortized Cost	899	285
Held to maturity, Estimated Fair Value	910	289
More than one year to five years, Held to maturity, Amortized Cost	1,508	2,716
More than one year to five years, Held to Maturity, Estimated Fair Value	1,636	2,784
More than five years to ten years, Held to maturity Amortized Cost	0	504
More than five years to ten years, Held to Maturity, Amortized Cost	0	579
More than ten years, Held to Maturity, Amortized Cost	0	0
More than ten years, Held to Maturity, Estimated Fair Value	0	0
Held to maturity (fair value of $7,603 and $8,632 at December 31, 2020 and December 31, 2019, respectively)	2,407	3,505
Securities held to maturity, fair value	$ 2,546	$ 3,652

Note 4 - Investment Securities - Summary of Investment Securities With Unrealized Losses (Details) $ in Thousands	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Less than Twelve Months Unrealized Losses, available for sale	$ (127)	$ (56)
Less than Twelve Months Estimated Fair Value, available for sale	$ 60,571	$ 11,410
Available for sale, Total No. of Issuances, less than twelve months	17	11
Twelve Months or More Unrealized Losses	$ 0	$ 39
Twelve Months or More Estimated Fair Value, available for sale	$ 0	$ 4,865
Twelve Months or More No. of Issuances, available for sale	0	8
Total Unrealized Losses, available for sale	$ (127)	$ (95)
Total Estimated Fair Value, available for sale	$ 60,571	$ 16,275
Available for sale, Total No. of Issuances	17	19
Available for sale, Total No. of Issuances	17	19
Twelve Months or More Unrealized Losses	$ 0	$ (39)
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Less than Twelve Months Unrealized Losses, available for sale	(8)	(5)
Less than Twelve Months Estimated Fair Value, available for sale	$ 12,982	$ 2,631
Available for sale, Total No. of Issuances, less than twelve months	3	4
Twelve Months or More Unrealized Losses	$ 0	$ 24
Twelve Months or More Estimated Fair Value, available for sale	$ 0	$ 3,912
Twelve Months or More No. of Issuances, available for sale	0	6
Total Unrealized Losses, available for sale	$ (8)	$ (29)
Total Estimated Fair Value, available for sale	$ 12,982	$ 6,543
Available for sale, Total No. of Issuances	3	10
Available for sale, Total No. of Issuances	3	10
Twelve Months or More Unrealized Losses	$ 0	$ (24)
US Government Agencies Debt Securities [Member]
Less than Twelve Months Unrealized Losses, available for sale		(19)
Less than Twelve Months Estimated Fair Value, available for sale		$ 1,572
Available for sale, Total No. of Issuances, less than twelve months		2
Twelve Months or More Unrealized Losses		$ 0
Twelve Months or More Estimated Fair Value, available for sale		$ 0
Twelve Months or More No. of Issuances, available for sale		0
Total Unrealized Losses, available for sale		$ (19)
Total Estimated Fair Value, available for sale		$ 1,572
Available for sale, Total No. of Issuances		2
Available for sale, Total No. of Issuances		2
Twelve Months or More Unrealized Losses		$ 0
Collateralized Mortgage Obligations [Member]
Less than Twelve Months Unrealized Losses, available for sale	(93)	(10)
Less than Twelve Months Estimated Fair Value, available for sale	$ 28,521	$ 5,738
Available for sale, Total No. of Issuances, less than twelve months	6	3
Twelve Months or More Unrealized Losses	$ 0	$ 15
Twelve Months or More Estimated Fair Value, available for sale	$ 0	$ 953
Twelve Months or More No. of Issuances, available for sale	0	2
Total Unrealized Losses, available for sale	$ (93)	$ (25)
Total Estimated Fair Value, available for sale	$ 28,521	$ 6,691
Available for sale, Total No. of Issuances	6	5
Available for sale, Total No. of Issuances	6	5
Twelve Months or More Unrealized Losses	$ 0	$ (15)
Small Business Administration Agency Securities [Member]
Less than Twelve Months Unrealized Losses, available for sale		(22)
Less than Twelve Months Estimated Fair Value, available for sale		$ 1,469
Available for sale, Total No. of Issuances, less than twelve months		2
Twelve Months or More Unrealized Losses		$ 0
Twelve Months or More Estimated Fair Value, available for sale		$ 0
Twelve Months or More No. of Issuances, available for sale		0
Total Unrealized Losses, available for sale		$ (22)
Total Estimated Fair Value, available for sale		$ 1,469
Available for sale, Total No. of Issuances		2
Available for sale, Total No. of Issuances		2
Twelve Months or More Unrealized Losses		$ 0
Commercial Paper [Member]
Less than Twelve Months Unrealized Losses, available for sale	(14)
Less than Twelve Months Estimated Fair Value, available for sale	$ 16,982
Available for sale, Total No. of Issuances, less than twelve months	4
Twelve Months or More Unrealized Losses	$ 0
Twelve Months or More Estimated Fair Value, available for sale	$ 0
Twelve Months or More No. of Issuances, available for sale	0
Total Unrealized Losses, available for sale	$ (14)
Total Estimated Fair Value, available for sale	$ 16,982
Available for sale, Total No. of Issuances	4
Available for sale, Total No. of Issuances	4
Twelve Months or More Unrealized Losses	$ 0
Corporate Debt Securities [Member]
Less than Twelve Months Unrealized Losses, available for sale	(6)
Less than Twelve Months Estimated Fair Value, available for sale	$ 994
Available for sale, Total No. of Issuances, less than twelve months	2
Twelve Months or More Unrealized Losses	$ 0
Twelve Months or More Estimated Fair Value, available for sale	$ 0
Twelve Months or More No. of Issuances, available for sale	0
Total Unrealized Losses, available for sale	$ (6)
Total Estimated Fair Value, available for sale	$ 994
Available for sale, Total No. of Issuances	2
Available for sale, Total No. of Issuances	2
Twelve Months or More Unrealized Losses	$ 0
Municipal Bonds [Member]
Less than Twelve Months Unrealized Losses, available for sale	(6)
Less than Twelve Months Estimated Fair Value, available for sale	$ 1,092
Available for sale, Total No. of Issuances, less than twelve months	2
Twelve Months or More Unrealized Losses	$ 0
Twelve Months or More Estimated Fair Value, available for sale	$ 0
Twelve Months or More No. of Issuances, available for sale	0
Total Unrealized Losses, available for sale	$ (6)
Total Estimated Fair Value, available for sale	$ 1,092
Available for sale, Total No. of Issuances	2
Available for sale, Total No. of Issuances	2
Twelve Months or More Unrealized Losses	$ 0

Note 5 - Loans (Details Textual)	12 Months Ended
Note 5 - Loans (Details Textual)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Financing Receivable Number Of Loans 90 Days Past Due And Still Accruing	$ 0	$ 0
Impaired Financing Receivable, Interest Income, Cash Basis Method, Total	0	0
Loans and Leases Receivable, Impaired, Troubled Debt, Interest Income	$ 170,000	$ 128,000
Number Of Loans Identified As Troubled Debt Restructurings	6	4
Financing Receivable, Troubled Debt Restructuring	$ 3,100,000	$ 1,800,000
Financing Receivable, Nonaccrual Troubled Debt Restructuring	1,100,000	0
Allowance for Credit Losses Reserve, Change In Method of Calculating Impairment	29,337,000	18,816,000	$ 17,577,000
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend	$ 0	$ 0
Financing Receivable, Modifications, Number of Contracts	2	0
Specific Reserve [Member]
Allowance for Credit Losses Reserve, Change In Method of Calculating Impairment	$ 525,000	$ 0	$ 44,000
Specific Reserve [Member] \| One Loan [Member]
Allowance for Credit Losses Reserve, Change In Method of Calculating Impairment	$ 435,000	$ 0

Note 5 - Loans - Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Beginning balance				$ 18,816				$ 17,577	$ 18,816	$ 17,577	$ 13,773
Provision for credit losses	$ 3,008	$ 3,861	$ 3,009	1,945	$ 659	$ 824	$ 357	550	11,823	2,390	4,469
Recoveries on loans charged-off									1	108	36
Less loans charged-off									(1,303)	(1,259)	(701)
Ending balance	29,337				18,816				29,337	18,816	17,577
Provisions	3,008	$ 3,861	$ 3,009	1,945	659	$ 824	$ 357	550	11,823	2,390	4,469
Charge-offs									(1,303)	(1,259)	(701)
Recoveries									1	108	36
Loan losses, Reserves	29,337				18,816				29,337	18,816	17,577
Individually	19,554				13,218				19,554	13,218	3,281
Collectively	2,687,212				2,183,716				2,687,212	2,183,716	2,138,734
Total loans, net of deferred loan fees	2,706,766				2,196,934				2,706,766	2,196,934	2,142,015
Financial Asset Acquired with Credit Deterioration [Member]
Loan losses, Reserves											0
Specific Reserve [Member]
Loan losses, Reserves	525				0				525	0	44
General Reserves [Member]
Loan losses, Reserves	28,812				18,816				28,812	18,816	17,533
Commercial Real Estate Portfolio Segment [Member]
Beginning balance				15,118				13,437	15,118	13,437	9,309
Provision for credit losses									9,559	1,847	4,128
Recoveries on loans charged-off									0	0	0
Less loans charged-off									0	(166)	0
Ending balance	24,677				15,118				24,677	15,118	13,437
Provisions									9,559	1,847	4,128
Charge-offs									0	(166)	0
Recoveries									0	0	0
Loan losses, Reserves	24,677				15,118				24,677	15,118	13,437
Individually	10,514				3,795				10,514	3,795	2,309
Collectively	2,304,203				1,842,747				2,304,203	1,842,747	1,750,896
Total loans, net of deferred loan fees	2,314,717				1,846,542				2,314,717	1,846,542	1,753,205
Commercial Real Estate Portfolio Segment [Member] \| Financial Asset Acquired with Credit Deterioration [Member]
Loan losses, Reserves											0
Commercial Real Estate Portfolio Segment [Member] \| Specific Reserve [Member]
Loan losses, Reserves	0				0				0	0	44
Commercial Real Estate Portfolio Segment [Member] \| General Reserves [Member]
Loan losses, Reserves	24,677				15,118				24,677	15,118	13,393
Commercial Portfolio Segment [Member]
Beginning balance				3,588				4,140	3,588	4,140	4,044
Provision for credit losses									2,286	433	761
Recoveries on loans charged-off									1	108	36
Less loans charged-off									(1,258)	(1,093)	(701)
Ending balance	4,617				3,588				4,617	3,588	4,140
Provisions									2,286	433	761
Charge-offs									(1,258)	(1,093)	(701)
Recoveries									1	108	36
Loan losses, Reserves	4,617				3,588				4,617	3,588	4,140
Individually	9,025				9,423				9,025	9,423	972
Collectively	378,935				340,148				378,935	340,148	387,838
Total loans, net of deferred loan fees	387,960				349,571				387,960	349,571	388,810
Commercial Portfolio Segment [Member] \| Financial Asset Acquired with Credit Deterioration [Member]
Loan losses, Reserves											0
Commercial Portfolio Segment [Member] \| Specific Reserve [Member]
Loan losses, Reserves	525				0				525	0	0
Commercial Portfolio Segment [Member] \| General Reserves [Member]
Loan losses, Reserves	4,092				3,588				4,092	3,588	4,140
Other Financing Receivables [Member]
Beginning balance				9				0	9	0
Provision for credit losses									79	9
Recoveries on loans charged-off									0	0
Less loans charged-off									(45)	0
Ending balance	43				9				43	9	0
Provisions									79	9
Charge-offs									(45)	0
Recoveries									0	0
Loan losses, Reserves	43				9				43	9
Individually	15				0				15	0
Collectively	4,074				821				4,074	821
Total loans, net of deferred loan fees	4,089				821				4,089	821
Other Financing Receivables [Member] \| Specific Reserve [Member]
Loan losses, Reserves	0				0				0	0
Other Financing Receivables [Member] \| General Reserves [Member]
Loan losses, Reserves	43				9				43	9
Unallocated Financing Receivables [Member]
Beginning balance				$ 101				$ 0	101	0	420
Provision for credit losses									(101)	101	(420)
Recoveries on loans charged-off									0	0	0
Less loans charged-off									0	0	0
Ending balance	0				101				0	101	0
Provisions									(101)	101	(420)
Charge-offs									0	0	0
Recoveries									0	0	0
Loan losses, Reserves	0				101				0	101	0
Individually	0				0				0	0	0
Collectively	0				0				0	0	0
Total loans, net of deferred loan fees	0				0				0	0	0
Unallocated Financing Receivables [Member] \| Financial Asset Acquired with Credit Deterioration [Member]
Loan losses, Reserves											0
Unallocated Financing Receivables [Member] \| Specific Reserve [Member]
Loan losses, Reserves	0				0				0	0	0
Unallocated Financing Receivables [Member] \| General Reserves [Member]
Loan losses, Reserves	$ 0				$ 101				$ 0	$ 101	$ 0

Note 5 - Loans - Risk Category of Loans (Details) - USD ($)
$ in Thousands

Dec. 31, 2020

Dec. 31, 2019

Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member]

$ 2,706,766

$ 2,196,934

Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member]

^[1]

186,723

96,020

Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member]

^[1]

1,003,637

793,268

Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]

^[1]

1,124,357

957,254

Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member]

290,139

274,586

Commercial Portfolio Segment [Member] | Other Loans [Member]

^[1]

97,821

74,985

^[1]

4,089

821

Pass [Member]

Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member]

2,617,011

2,146,181

Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member]

186,550

95,756

Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member]

947,643

767,603

Pass [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]

1,113,814

955,327

Pass [Member] | Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member]

278,357

265,178

Pass [Member] | Commercial Portfolio Segment [Member] | Other Loans [Member]

86,573

61,496

4,074

821

Special Mention [Member]

Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member]

4,377

9,620

Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member]

Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member]

756

5,353

Special Mention [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]

2,436

Special Mention [Member] | Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member]

999

4,078

Special Mention [Member] | Commercial Portfolio Segment [Member] | Other Loans [Member]

186

189

Substandard [Member]

Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member]

65,824

27,915

Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member]

Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member]

52,611

18,115

Substandard [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]

393

593

Substandard [Member] | Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member]

8,620

5,330

Substandard [Member] | Commercial Portfolio Segment [Member] | Other Loans [Member]

4,200

3,877

Impaired [Member]

Impaired [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member]

19,554

13,218

Impaired [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member]

173

264

Impaired [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member]

2,627

2,197

Impaired [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]

7,714

1,334

Impaired [Member] | Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member]

2,163

Impaired [Member] | Commercial Portfolio Segment [Member] | Other Loans [Member]

6,862

9,423

$ 15

$ 0

[1]	Loans, net of deferred fees

Note 5 - Loans - Aging of Recorded Investment (Details) - USD ($)
$ in Thousands

Dec. 31, 2020

Dec. 31, 2019

$ 24,759

$ 15,830

2,682,007

2,181,104

2,706,766

2,196,934

Financial Asset, 30 to 59 Days Past Due [Member]

^[1]

17,584

11,437

Financial Asset, 60 to 89 Days Past Due [Member]

4,710

3,717

Financial Asset, Equal to or Greater than 90 Days Past Due [Member]

4,902

1,560

Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member]

15,147

10,553

173

186,550

96,020

^[2]

186,723

96,020

Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member]

^[1]

173

Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member]

Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]

Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member]

173

1,595

725

1,002,042

792,543

1,003,637

793,268

Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | Financial Asset, 30 to 59 Days Past Due [Member]

^[1]

1,193

725

Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | Financial Asset, 60 to 89 Days Past Due [Member]

449

Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]

Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member]

1,136

725

15,086

3,464

1,109,271

953,790

^[2]

1,124,357

957,254

Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member]

^[1]

7,714

1,334

Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member]

4,219

1,454

Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]

4,859

1,560

Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans, Held for Sale [Member]

6,008

450

49,963

108,194

49,963

108,194

Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans, Held for Sale [Member] | Financial Asset, 30 to 59 Days Past Due [Member]

^[1]

Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans, Held for Sale [Member] | Financial Asset, 60 to 89 Days Past Due [Member]

Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans, Held for Sale [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]

Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]

987

289,152

274,586

290,139

274,586

Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Financial Asset, 30 to 59 Days Past Due [Member]

^[1]

1,661

Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Financial Asset, 60 to 89 Days Past Due [Member]

Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]

Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member]

987

6,861

11,641

90,960

63,344

^[2]

97,821

74,985

Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | Financial Asset, 30 to 59 Days Past Due [Member]

^[1]

6,828

9,378

Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | Financial Asset, 60 to 89 Days Past Due [Member]

2,263

Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]

Commercial Portfolio Segment [Member] | Other Loans [Member]

6,828

9,378

4,032

821

^[2]

4,089

821

Commercial Portfolio Segment [Member] | Other Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member]

^[1]

Commercial Portfolio Segment [Member] | Other Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member]

Commercial Portfolio Segment [Member] | Other Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]

$ 15

$ 0

[1]	Included in total loans
[2]	Loans, net of deferred fees

Note 5 - Loans - Individually Impaired Loan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Allowance	$ 525,000	$ 0	$ 44,000
Principal Balance	19,751,000	13,234,000	3,982,000
Recorded Investment	19,554,000	13,218,000	3,281,000
Average Balance	23,196,000	14,797,000	3,979,000
Interest Income	170,000	128,000	177,000
Construction And Land Development Loans [Member]
Principal Balance, With no related allowance recorded	173,000	264,000	276,000
Recorded Investment, With no related allowance recorded	173,000	264,000	276,000
Average Balance, With no related allowance recorded	173,000	271,000	283,000
Interest Income, With no related allowance recorded	0	24,000	23,000
Commercial and Industrial Sector [Member]
Principal Balance, With no related allowance recorded	1,710,000
Recorded Investment, With no related allowance recorded	1,662,000
Average Balance, With no related allowance recorded	1,819,000
Interest Income, With no related allowance recorded	31,000
Principal Balance, With related allowance recorded	520,000
Recorded Investment, With related allowance recorded	501,000
Average Balance, With related allowance recorded	563,000
Interest Income, With related allowance recorded	0
Related Allowance	520,000
Commercial Real Estate [Member]
Principal Balance, With no related allowance recorded	2,633,000	2,198,000	2,033,000
Recorded Investment, With no related allowance recorded	2,627,000	2,197,000	2,033,000
Average Balance, With no related allowance recorded	2,724,000	2,384,000	2,126,000
Interest Income, With no related allowance recorded	136,000	100,000	134,000
Commercial Real Estate [Member] \| Commercial Real Estate Portfolio Segment [Member]
Principal Balance, With related allowance recorded		0
Recorded Investment, With related allowance recorded		0
Average Balance, With related allowance recorded		0
Interest Income, With related allowance recorded		0
Related Allowance		0
Residential Mortgage [Member]
Principal Balance, With no related allowance recorded	7,839,000	1,349,000	0
Recorded Investment, With no related allowance recorded	7,714,000	1,334,000	0
Average Balance, With no related allowance recorded	7,934,000	1,351,000	0
Interest Income, With no related allowance recorded	0	0	0
Small Business Administration Loans [Member] \| Commercial Portfolio Segment [Member]
Principal Balance, With no related allowance recorded	6,828,000	9,423,000	1,498,000
Recorded Investment, With no related allowance recorded	6,829,000	9,423,000	797,000
Average Balance, With no related allowance recorded	9,928,000	10,791,000	1,377,000
Interest Income, With no related allowance recorded	0	4,000	19,000
Single Family Residential Mortgages Loans [Member]
Principal Balance, With related allowance recorded	33,000	0	175,000
Recorded Investment, With related allowance recorded	33,000	0	175,000
Average Balance, With related allowance recorded	40,000	0	193,000
Interest Income, With related allowance recorded	3,000	0	1,000
Related Allowance	5,000	$ 0	$ 44,000
Other Financing Receivables [Member]
Principal Balance, With no related allowance recorded	15,000
Recorded Investment, With no related allowance recorded	15,000
Average Balance, With no related allowance recorded	15,000
Interest Income, With no related allowance recorded	$ 0

Note 5 - Loans - Summary of Loans by Class Modified as TDRs (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Number of Loans	2	0
Commercial Real Estate Portfolio Segment [Member] \| Commercial Real Estate [Member]
Number of Loans	3	1	1
Pre-Modification Recorded Investment	$ 1,719	$ 476	$ 1,029
Post-Modification Recorded Investment	$ 1,719	$ 476	$ 1,029

Note 6 - Loan Servicing (Details Textual)	12 Months Ended
Note 6 - Loan Servicing (Details Textual)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Servicing Asset, Total	$ 13,965,000	$ 17,083,000
Loan Servicing Fees Net of Amortization	2,052,000	3,383,000	$ 850,000
Servicing Asset, Custodial Balance	200,000	3,700,000
Servicing Asset at Amortized Cost, Other than Temporary Impairments	417,000
Mortgages [Member]
Servicing Asset, Total	$ 10,700,000	$ 15,100,000
Mortgages [Member] \| Measurement Input, Discount Rate [Member]
Servicing Asset, Measurement Input	0.1104	0.1082
Mortgages [Member] \| Measurement Input, Prepayment Rate [Member]
Servicing Asset, Measurement Input	0.1550	0.1153
Mortgages [Member] \| Measurement Input, Default Rate [Member]
Servicing Asset, Measurement Input	0.0010	0.0011
SBA Loans [Member]
Servicing Asset, Total	$ 5,000,000.0	$ 5,600,000
Small Business Administration Loans [Member]
Servicing Asset, Total	$ 5,000,000.0	$ 5,600,000
Small Business Administration Loans [Member] \| Measurement Input, Discount Rate [Member]
Servicing Asset, Measurement Input	0.085	0.0850
Small Business Administration Loans [Member] \| Measurement Input, Prepayment Rate [Member]
Servicing Asset, Measurement Input	0.138	0.1264
Small Business Administration Loans [Member] \| Measurement Input, Default Rate [Member]
Servicing Asset, Measurement Input	0.0084	0.0053

Note 6 - Loan Servicing - Schedule of Principal Balances of Mortgage and SBA Loans Serviced for Others (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Mortgages [Member]
Loans serviced for others	$ 1,512,969	$ 1,683,298
Small Business Administration Loans [Member]
Loans serviced for others	156,222	170,849
Commerical Real Estate Loans [Member]
Loans serviced for others	$ 4,145	$ 4,216

Note 6 - Loan Servicing - Schedule of Amortization of Mortgage Servicing Rights Netted Against Loan Servicing Fee Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Mortgages [Member]
Beginning of period	$ 12,997	$ 12,858	$ 1,540
Acquisitions	0	0	10,651
Additions	1,422	2,088	1,562
Disposals	(1,513)	(128)	(197)
Amortized to expense	(1,960)	(1,821)	(698)
Impairment	(417)	0	0
End of period	10,529	12,997	12,858
Small Business Administration Loans [Member]
Beginning of period	4,086	4,512	4,417
Acquisitions	0	0	0
Additions	293	980	1,932
Disposals	(401)	(708)	(1,177)
Amortized to expense	(542)	(698)	(660)
Impairment	0	0	0
End of period	$ 3,436	$ 4,086	$ 4,512

Note 7 - Premises and Equipment (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Depreciation and Leasehold Amortization, Excluding Intangibles Amortization	$ 2,000,000.0	$ 1,900,000	$ 1,800,000
Operating Leases, Rent Expense, Net, Total	5,700,000	6,100,000	$ 2,700,000
Sublease Income	$ 395,000	$ 197,000

Note 7 - Premises and Equipment - Summary of Premises and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Premises and equipment, gross	$ 36,193	$ 24,684
Less accumulated depreciation and amortization	(9,773)	(8,102)
Construction in progress	683	231
Premises and equipment, net	27,103	16,813
Land [Member]
Premises and equipment, gross	9,066	5,020
Building and Building Improvements [Member]
Premises and equipment, gross	15,040	7,822
Furniture and Fixtures [Member]
Premises and equipment, gross	6,772	6,252
Leasehold Improvements [Member]
Premises and equipment, gross	$ 5,315	$ 5,590

Note 7 - Premises and Equipment - Schedule of Future Minimum Rent Payments on Company's Leases (Details) $ in Thousands	Dec. 31, 2020 USD ($)
2021	$ 5,082
2022	4,624
2023	3,695
2024	2,667
2025	2,528
Thereafter	9,477
Operating Leases, Future Minimum Payments Due, Total	$ 28,073

Note 8 - Deposits (Details Textual) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Brokered Time Deposits	$ 17.4	$ 67.1

Note 8 - Deposits - Schedule of Maturities of Time Deposits (Details) $ in Thousands	Dec. 31, 2020 USD ($)
One year	$ 1,198,799
Two to three years	78,518
Over three years	9,521
Total	$ 1,286,838

Note 9 - Long-term Debt (Details Textual) - USD ($) $ in Millions	1 Months Ended
	Nov. 30, 2018	Mar. 31, 2016	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument, Face Amount			$ 105	$ 105
Six Point Five Percent Fixed To Floating Rate Subordinated Debentures Due March Thirty First Two Thousand Twenty Six Member
Debt Instrument, Face Amount		$ 50
Debt Instrument, Basis Spread on Variable Rate		5.16%
Banking Regulation, Common Equity Tier One Risk-Based Capital, Actual		$ 35
Six Point Five Percent Fixed To Floating Rate Subordinated Debentures Due March Thirty First Two Thousand Twenty Six Member \| London Interbank Offered Rate (LIBOR) [Member]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate		6.50%
Six Point One Eight Percent Fixed To Floating Rate Subordinated Debentures Due December First Two Thousands Twenty Eight [Member]
Debt Instrument, Face Amount	$ 55
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	6.18%
Banking Regulation, Common Equity Tier One Risk-Based Capital, Actual	$ 25
Six Point One Eight Percent Fixed To Floating Rate Subordinated Debentures Due December First Two Thousands Twenty Eight [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	3.15%

Note 9 - Long-term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Principal	$ 105,000	$ 105,000
Unamortized debt issuance costs	$ 609	$ 951

Note 9 - Long-term Debt - Schedule of Interest and Amortization Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Interest	$ 6,649	$ 6,649
Amortization	$ 342	$ 342

Note 10 - Subordinated Debentures (Details Textual)	1 Months Ended		12 Months Ended
Note 10 - Subordinated Debentures (Details Textual)	Jan. 31, 2020 USD ($) shares	Oct. 31, 2018 USD ($) shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Debt Instrument, Face Amount			$ 105,000,000	$ 105,000,000
Interest Expense, Debt, Total			6,649,000	6,649,000
Subordinated Debt [Member]
Interest Expense, Debt, Total			468,000	540,000	$ 263,000
Debt Amortization Expense			218,000	$ 167,000	$ 106,000
Subordinated Debt [Member] \| First American International Corp. [Member] \| First American International Statutory Trust I 1[Member]
Debt Instrument, Face Amount		$ 7,000,000
TFC Statutory Trust [Member] \| Other Assets [Member]
Common Stock Held in Trust			155,000
TFC Statutory Trust [Member] \| Fair Value, Inputs, Level 1 [Member]
Subordinated Debt Obligations, Fair Value Disclosure			3,300,000
TFC Statutory Trust [Member] \| Subordinated Debt [Member]
Debt Instrument, Face Amount			5,000,000
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Ending Balance			$ 1,900,000
Debt Instrument Redemption, Percentage of Principal Amount Outstanding			100.00%
Debt Instrument, Maximum Number Of Period For Deferred Interest Payments (Year)			5 years
Debt Instrument, Basis Spread on Variable Rate			1.65%
Debt Instrument, Interest Rate, Effective Percentage			1.87%	3.54%
TFC Statutory Trust [Member] \| Private Placement [Member]
Number of Trust Preferred Securities (in shares) \| shares			5,000
Trust Preferred Securities Lquidation Amount Per Preferred Security (in dollars per share) \| $ / shares			$ 1,000
First American International Statutory Trust I 1[Member]
Common Unit, Issued (in shares) \| shares		7,000
Floating Rate Maturity Period (Year)		30 years
Trust Capital Securities, Liquidation Amount		$ 7,000,000
First American International Statutory Trust I 1[Member] \| Other Assets [Member]
Common Stock Held in Trust		217,000
First American International Statutory Trust I 1[Member] \| Subordinated Debt [Member]
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Ending Balance		$ 1,200,000
Debt Instrument, Maximum Number Of Period For Deferred Interest Payments (Year)		5 years
First American International Statutory Trust I 1[Member] \| Subordinated Debt [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		2.25%
First American International Statutory Trust I [Member] \| Subordinated Debt [Member]
Debt Instrument, Interest Rate, Effective Percentage			2.47%	4.14%
PGB Holdings Inc And Banking Subsidiary Pacific Global Bank [Member]
Common Unit, Issued (in shares) \| shares	5,000
Common Unit Liquidation Preference Value	$ 5,000,000
Number of Common Securities	155
Common Securities Liquidation Preference Value	$ 155,000
PGB Holdings Inc And Banking Subsidiary Pacific Global Bank [Member] \| Subordinated Debt [Member]
Debt Instrument, Face Amount	5,200,000
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Ending Balance	$ 763,000
Debt Instrument, Maximum Number Of Period For Deferred Interest Payments (Year)	5 years
Debt Instrument, Interest Rate, Effective Percentage			2.32%	3.89%
PGB Holdings Inc And Banking Subsidiary Pacific Global Bank [Member] \| Subordinated Debt [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	2.10%

Note 11 - Borrowing Arrangements (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Advances from Federal Home Loan Banks, Total	$ 150,000	$ 0
Long-term Line of Credit, Total	0
Federal Home Loan Bank Advances [Member]
Advances from Federal Home Loan Banks, Total	$ 150,000	0
Federal Home Loan Bank, Advances, Activity for Year, Average Interest Rate at Period End	1.18%
Debt Instrument, Term (Year)	5 years
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged	$ 1,200,000
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total	1,500	2,900	$ 2,600
Federal Reserve Bank of San Francisco Secured Line of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	9,800
Loans Pledged as Collateral	20,100
Federal Home Loan Bank of San Francisco Secured Line of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	915,200
Loans Pledged as Collateral	1,200,000
Federal Home Loan Bank Overnight Advances [Member]
Advances from Federal Home Loan Banks, Total		$ 0
Zions Bank [Member]
Line of Credit Facility, Maximum Borrowing Capacity	20,000
Wells Fargo Bank [Member]
Line of Credit Facility, Maximum Borrowing Capacity	10,000
Wells Fargo Bank [Member] \| Line of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	2,000
First Horizon National Bank [Member]
Line of Credit Facility, Maximum Borrowing Capacity	12,000
Pacific Coast Bankers' Bank [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 50,000

Note 12 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
Note 12 - Income Taxes (Details Textual) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total	$ 0	$ 0	$ 0
Domestic Tax Authority [Member]
Operating Loss Carryforwards, Total	$ 29,000
Open Tax Year	2016 2017 2018 2019 2020
State and Local Jurisdiction [Member] \| California Franchise Tax Board [Member]
Operating Loss Carryforwards, Total	$ 400,000
Open Tax Year	2015 2016 2017 2018 2019 2020
State and Local Jurisdiction [Member] \| New York State Division of Taxation and Finance [Member]
Operating Loss Carryforwards, Total	$ 6,300,000
Open Tax Year	2016 2017 2018 2019 2020
State and Local Jurisdiction [Member] \| New York City Income Tax [Member]
Operating Loss Carryforwards, Total	$ 5,500,000
State and Local Jurisdiction [Member] \| Illinois Department of Revenue [Member]
Operating Loss Carryforwards, Total	$ 1,200,000
Open Tax Year	2016 2017 2018 2019 2020

Note 12 - Income Taxes - Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Federal									$ 9,948	$ 8,074	$ 6,616
State									6,602	5,614	3,451
Current Income Tax Expense (Benefit), Total									16,550	13,688	10,067
Deferred									(2,998)	1,503	(131)
Deferred tax adjustment for change in tax rate									0	21	(479)
Amortization of investment in affordable housing tax credits									979	900	644
Income Tax Expense (Benefit), Total	$ 4,759	$ 3,619	$ 2,901	$ 3,252	$ 4,149	$ 3,689	$ 4,415	$ 3,859	$ 14,531	$ 16,112	$ 10,101

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Note 12 - Income Taxes - Comparison of Federal Statutory Income Tax Rates to Effective Income Tax Rates (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statutory federal tax, amount									$ 9,966	$ 11,617	$ 9,703
Statutory federal tax, rate									21.00%	21.00%	21.00%
State franchise tax, net of federal benefit, amount									$ 4,024	$ 5,322	$ 3,488
State franchise tax, net of federal benefit, rate									8.50%	9.60%	7.50%
Tax-exempt income, amount									$ (192)	$ (25)	$ (27)
Tax-exempt income, rate									(0.40%)	0.00%	(0.10%)
Tax impact from change in tax rate, amount									$ 68	$ 17	$ (479)
Tax impact from change in tax rate, rate									0.10%	0.00%	(1.00%)
Stock-based compensation, amount									$ 123	$ (27)	$ (2,643)
Stock-based compensation, rate									0.30%	0.00%	(5.70%)
Other items, net, amount									$ 542	$ (792)	$ 59
Other items, net, rate									1.10%	(1.40%)	0.10%
Income Tax Expense (Benefit), Total	$ 4,759	$ 3,619	$ 2,901	$ 3,252	$ 4,149	$ 3,689	$ 4,415	$ 3,859	$ 14,531	$ 16,112	$ 10,101
Actual tax expense, rate									30.60%	29.20%	21.80%

Note 12 - Income Taxes - Summary of Components of Net Deferred Tax Asset Accounts (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Pre-opening expenses	$ 242	$ 122
Allowance for loan losses	8,575	5,883
Stock-based compensation	1,074	1,346
Off balance sheet reserve	425	258
Operating loss carryforwards	1,196	1,253
Other real estate owned	10	37
Mark to market on held for sale mortgage loans	486	359
State tax	1,473	738
Other	393	856
Deferred Tax Assets, Gross, Total	13,874	10,852
Depreciation	(1,212)	(282)
Deferred loan costs	(2,482)	(1,104)
Unrealized gain on AFS securities	(497)	(106)
Acquisition accounting fair value adjustments	(3,584)	(2,671)
Mortgage servicing rights	(3,204)	(3,745)
Other	(348)	(618)
Deferred Tax Liabilities, Gross, Total	(11,327)	(8,526)
Net deferred tax assets	$ 2,547	$ 2,326

Note 13 - Commitments - Financial Commitments Whose Contractual Amount Represents Credit Risk (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Financial commitments, contractual amount, fixed rate	$ 67,183	$ 58,274
Financial commitments, contractual amount, variable rate	495,257	271,925
Commitments to Make Loans [Member]
Financial commitments, contractual amount, fixed rate	7	0
Financial commitments, contractual amount, variable rate	281,489	167,496
Unused lines of Credit [Member]
Financial commitments, contractual amount, fixed rate	57,437	55,789
Financial commitments, contractual amount, variable rate	211,192	102,841
Commercial and Similar Lines of Credit [Member]
Financial commitments, contractual amount, fixed rate	8,284	0
Financial commitments, contractual amount, variable rate	0	358
Standby Letters of Credit [Member]
Financial commitments, contractual amount, fixed rate	1,455	2,485
Financial commitments, contractual amount, variable rate	$ 2,576	$ 1,230

Note 14 - Related Party Transactions (Details Textual) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Executive Officers, Directors and their Related Interests [Member]
Unfunded Loan Commitments, Available To Related Parties	$ 2,000,000.0	$ 2,019
Principal Officers, Directors and their Affiliates [Member]
Related Party Deposit Liabilities	$ 50,000,000.0	$ 84,600,000

Note 14 - Related Party Transactions - Loans to Principal Officers, Directors, and Their Affiliates (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Beginning balance	$ 4,000	$ 3,600
New loans and advances	11,498	16,180
Repayments	(14,255)	(15,780)
Ending balance	$ 1,243	$ 4,000

Note 15 - Stock Option Plan (Details Textual) - USD ($)		12 Months Ended
Note 15 - Stock Option Plan (Details Textual) - USD ($)	Aug. 15, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Payment Arrangement, Expense		$ 686,000	$ 689,000	$ 684,000
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount		$ 476,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		1 year 9 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value		$ 278,000	1,200,000	13,600,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value		$ 300,000	$ 460,000	$ 734,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares, Ending Balance (in shares)		147,000	76,500	62,008
Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price, Ending Balance (in dollars per share)		$ 4.43	$ 6.32	$ 6.48
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)		56,498
Proceeds from Stock Options Exercised		$ 712,000	$ 2,817,000	$ 9,629,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		0	0	43,425	0
Share Based Compensation Arrangement by Share Based Payment Award, Equity Instruments Other Than Options, Granted at Closing Price (in dollars per share)				$ 29.38
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)		14,475
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)		14,475
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		$ 266,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 29.38
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested		$ 223,000
The 2017 Omnibus Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum		30.00%
Share Based Compensation Arrangement by Share Based Payment Award, Minimum Percentage of Fair Market Value Common Stock on Grant Date		100.00%
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)		10 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)		3 years
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)		1,182,045

Note 15 - Stock Option Plan - Schedule of Weighted Average Assumption for Fair Value of Option Grant Estimated Using Black-Scholes Option Pricing Model (Details) - $ / shares	1 Months Ended
	Jul. 31, 2020	Jan. 31, 2020	Jan. 31, 2019
Expected volatility	31.80%	28.50%	35.00%
Expected term (Year)	6 years	6 years	6 years
Expected dividends	2.48%	1.99%	1.90%
Risk free rate	0.29%	1.31%	2.66%
Grant date fair value (in dollars per share)	$ 2.97	$ 4.61	$ 6.32

Note 15 - Stock Option Plan - Summary of Awards Pursuant to Stock Option Plans (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2020
Beginning Balance, Shares (in shares)	1,090,968
Outstanding at beginning of year (in dollars per share)	$ 13.11
Granted, Shares (in shares)	108,000
Granted, Weighted Average Exercise Price (in dollars per share)	$ 16.53
Exercised, Shares (in shares)	(56,498)
Exercised, Weighted Average Exercise Price (in dollars per share)	$ 12.61
Forfeited/cancelled, Shares (in shares)	(36,000)
Forfeited/cancelled, Weighted Average Exercise Price (in dollars per share)	$ 18.32
Beginning Balance, Shares (in shares)	1,106,470
Outstanding at end of year (in dollars per share)	$ 13.11	$ 13.30
Ending Balance, Weighted Average Remaining Contractual Term (Year)	3 years 7 months 2 days
Ending Balance, Aggregate Intrinsic Value		$ 3,184,187
Options exercisable, Shares (in shares)		958,470
Options exercisable, Weighted Average Exercise Price (in dollars per share)	$ 12.73
Options exercisable, Weighted Average Remaining Contractual Term (Year)	2 years 9 months 3 days
Options exercisable, Aggregate Intrinsic Value		$ 3,067,737

Note 16 - Regulatory Matters (Details Textual) $ in Billions			12 Months Ended
	Jan. 01, 2019	Jan. 01, 2016	Dec. 31, 2020	Jan. 01, 2020 USD ($)	Jan. 01, 2015
Tier One Risk Based Common Equity Capital Required For Capital Adequacy To Risk Weighted Assets					4.50%
Tier One Risk Based Common Equity Capital Required To Be Well Capitalized To Risk Weighted Assets					6.50%
Banking Regulation, Tier One Risk-Based Capital Ratio, Capital Adequacy, Minimum					0.040
Banking Regulation, Tier One Risk-Based Capital Ratio, Well Capitalized, Minimum					0.060
Increased Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets					0.060
Increased Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets					0.080
Capital Conservation Buffer	2.50%	0.625%	2.50%
Required Assets To Liabilities Ratio After Dividend Effect			1.25
Minimum [Member]
Regulatory Assets, Total				$ 3

Note 16 - Regulatory Matters - Summary of Company and Bank Continue to Exceed Regulatory Capital Minimum Requirements and Bank Continues to Exceed Well Capitalized Standards (Details) $ in Thousands	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Jan. 01, 2015
Banking Regulation, Tier One Risk-Based Capital Ratio, Capital Adequacy, Minimum			0.040
RBB Bancorp [Member]
Tier 1 Leverage Ratio, Amount	$ 368,413	$ 353,572
Tier 1 Leverage Ratio, Ratio	0.1132	0.1289
Common Equity Tier 1 Risk-Based Capital Ratio, Amount	$ 354,130	$ 343,899
Common Equity Tier 1 Risk-Based Capital Ratio, Ratio	0.1462	0.1716
Tier 1 Risk-Based Capital Ratio, Amount	$ 368,413	$ 353,572
Tier 1 Risk-Based Capital Ratio, Ratio	0.1521	0.1765
Total Risk-Based Capital Ratio, Amount	$ 503,093	$ 477,262
Total Risk-Based Capital Ratio, Ratio	0.2077	0.2382
Royal Business Bank [Member]
Tier 1 Leverage Ratio, Amount	$ 458,614	$ 417,036
Tier 1 Leverage Ratio, Ratio	0.1411	0.1523
Tier 1 Leverage Ratio, Minimum Required for Capital Adequacy Purposes Amount	$ 129,989	$ 108,150
Tier 1 Leverage Ratio, Minimum Required for Capital Adequacy Purposes Ratio	0.040	0.040
Tier 1 Leverage Ratio, Minimum Required Plus Capital Conservation Buffer Fully Phased-In Amount	$ 162,487	$ 135,187
Tier 1 Leverage Ratio, Minimum Required Plus Capital Conservation Buffer Fully Phased-In Ratio	5.00%	5.00%
Common Equity Tier 1 Risk-Based Capital Ratio, Amount	$ 458,614	$ 417,036
Common Equity Tier 1 Risk-Based Capital Ratio, Ratio	0.1894	0.2087
Common Equity Tier 1 Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Amount	$ 108,966	$ 89,127
Common Equity Tier 1 Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Ratio	4.50%	4.50%
Common Equity Tier 1 Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Amount	$ 157,395	$ 128,739
Common Equity Tier 1 Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Ratio	0.065	0.065
Tier 1 Risk-Based Capital Ratio, Amount	$ 458,614	$ 417,036
Tier 1 Risk-Based Capital Ratio, Ratio	0.1894	0.2087
Tier 1 Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Amount	$ 145,288	$ 118,836
Banking Regulation, Tier One Risk-Based Capital Ratio, Capital Adequacy, Minimum	0.060	0.060
Tier 1 Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Amount	$ 193,717	$ 158,448
Tier 1 Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Ratio	8.00%	8.00%
Total Risk-Based Capital Ratio, Amount	$ 488,888	$ 436,677
Total Risk-Based Capital Ratio, Ratio	0.2019	0.2186
Total Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes AmountTotal Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Amount	$ 193,717	$ 158,448
Total Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Ratio	0.080	0.080
Total Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Amount	$ 242,146	$ 198,061
Total Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Ratio	10.00%	10.00%

Note 17 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Write Down on Other Real Estate Owned	$ 0	$ 0

Note 17 - Fair Value Measurements - Summary of Quantitative Information About Impaired Loans and OREO Non-recurring Level 3 Fair Value Measurements (Details) $ in Thousands	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Assets measured at fair value		$ 126,068
Fair Value, Nonrecurring [Member]
Assets measured at fair value	$ 4,470	$ 293
Fair Value, Nonrecurring [Member] \| Other Real Estate Owned [Member]
Assets measured at fair value	$ 293		$ 293
Fair Value, Nonrecurring [Member] \| Other Real Estate Owned [Member] \| Minimum [Member] \| Measurement Input, Comparability Adjustment [Member]
Adjustment	0.05		0.05
Fair Value, Nonrecurring [Member] \| Other Real Estate Owned [Member] \| Maximum [Member] \| Measurement Input, Comparability Adjustment [Member]
Adjustment	0.06		0.06
Fair Value, Nonrecurring [Member] \| Commercial Real Estate [Member] \| Collateral Dependent Impaired Loans [Member]
Assets measured at fair value	$ 643
Fair Value, Nonrecurring [Member] \| Commercial Real Estate [Member] \| Measurement Input, Comparability Adjustment [Member] \| Collateral Dependent Impaired Loans [Member]
Adjustment	0.10
Fair Value, Nonrecurring [Member] \| Small Business Administration Loans [Member] \| Collateral Dependent Impaired Loans [Member]
Assets measured at fair value	$ 3,534
Fair Value, Nonrecurring [Member] \| Small Business Administration Loans [Member] \| Measurement Input, Comparability Adjustment [Member] \| Collateral Dependent Impaired Loans [Member]
Adjustment	0.10

Note 18 - Fair Value of Financial Instruments - Schedule of Fair Value Hierarchy Level and Estimated Fair Value of Significant Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Investment securities - HTM	$ 7,603	$ 8,632
Fair Value, Inputs, Level 1 [Member] \| Reported Value Measurement [Member]
Cash and due from banks	137,654	114,763
Federal funds sold and other cash equivalents	57,000	67,000
Interest-earning deposits in other financial institutions	600	600
Mortgage loans held for sale	49,963	108,194
Fair Value, Inputs, Level 1 [Member] \| Estimate of Fair Value Measurement [Member]
Cash and due from banks	137,654	114,763
Federal funds sold and other cash equivalents	57,000	67,000
Interest-earning deposits in other financial institutions	600	600
Mortgage loans held for sale	50,716	109,385
Fair Value, Inputs, Level 2 [Member] \| Reported Value Measurement [Member]
Investment securities - AFS	210,867	126,069
Investment securities - HTM	7,174	8,332
Mortgage servicing rights	13,965	17,083
Deposits	2,635,128	2,248,938
FHLB advances	150,000	0
Long-term debt	104,391	104,049
Subordinated debentures	14,283	9,673
Fair Value, Inputs, Level 2 [Member] \| Estimate of Fair Value Measurement [Member]
Investment securities - AFS	210,867	126,069
Investment securities - HTM	7,603	8,632
Mortgage servicing rights	15,617	20,752
Deposits	2,632,933	2,236,329
FHLB advances	149,964	0
Long-term debt	137,930	109,877
Subordinated debentures	14,654	11,709
Fair Value, Inputs, Level 3 [Member] \| Interest Rate Lock Contracts [Member]
Derivative assets, notional amount	27,665	0
Derivative assets	45	0
Fair Value, Inputs, Level 3 [Member] \| Forward Mortgage Loan Sale Contracts [Member]
Derivative assets, notional amount	55,089	0
Derivative assets	214	0
Fair Value, Inputs, Level 3 [Member] \| Reported Value Measurement [Member]
Loans, net	2,677,429	2,178,118
Equity securities	14,894	11,826
Fair Value, Inputs, Level 3 [Member] \| Estimate of Fair Value Measurement [Member]
Loans, net	2,687,751	2,158,970
Equity securities	$ 14,894	$ 11,826

Note 19 - Earnings Per Share ("EPS") (Details Textual) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement, Option [Member] \| Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	301,500	76,500	399,000

Note 19 - Earnings Per Share ("EPS") - Reconciliation of Net Income and Shares Outstanding to Income and Number of Shares Used to Compute EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net income	$ 11,147	$ 8,520	$ 6,513	$ 6,748	$ 10,675	$ 8,012	$ 10,142	$ 10,380	$ 32,928	$ 39,209	$ 36,105
Less: Earnings allocated to participating securities, income									$ (37)	$ (74)	$ 0
Shares outstanding, shares (in shares)									19,565,921	20,030,866	20,000,022
Impact of weighting shares, shares (in shares)									197,501	(13,560)	(2,848,800)
Used in basic EPS, income									$ 32,891	$ 39,135	$ 36,105
Used in basic EPS, shares (in shares)									19,763,422	20,017,306	17,151,222
Stock options, shares (in shares)									158,437	376,118	816,431
Used in dilutive EPS, income									$ 32,891	$ 39,135	$ 36,105
Used in dilutive EPS, shares (in shares)									19,921,859	20,393,424	17,967,653
Basic (in dollars per share)	$ 0.57	$ 0.43	$ 0.33	$ 0.34	$ 0.53	$ 0.40	$ 0.51	$ 0.52	$ 1.66	$ 1.96	$ 2.11
Diluted (in dollars per share)	$ 0.56	$ 0.43	$ 0.33	$ 0.33	$ 0.52	$ 0.39	$ 0.50	$ 0.51	$ 1.65	$ 1.92	$ 2.01

Note 20 - Revenue From Contracts With Customers - Summary of Revenue From Contracts With Customers in-Scope and Not in-Scope under Topic 606 (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2020

Sep. 30, 2020

Jun. 30, 2020

Mar. 31, 2020

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Non-interest income, not in scope (4)

$ 4,481

$ 3,813

$ 2,547

(Loss) on sale of OREO

(106)

^[1]

9,559

14,507

10,295

Noninterest Income, Total

$ 4,490

$ 2,727

$ 2,208

$ 4,615

$ 5,823

$ 2,799

$ 5,496

$ 4,202

14,040

18,320

12,842

Fees And Service Charges On Deposit Accounts [Member]

^[2]

1,636

1,366

1,115

Other Fees [Member]

Other Service Income [Member]

^[2],[3]

832

1,118

723

^[2],[4]

$ 2,013

$ 1,429

$ 709

[1]	The amounts primarily represent revenue from contracts with customers that are out of scope of ASC 606: Net loan servicing income, letter of credit commissions, import/export commissions, recoveries on purchased loans, BOLI income, and gains (losses) on sales of mortgage loans, loans and investment securities.
[2]	There were no adjustments to the Company's financial statements recorded as a result of the adoption of ASC 606.
[3]	Other fees consists of wealth management fees, miscellaneous loan fees and postage/courier fees.
[4]	Other income consists of safe deposit box rental income, wire transfer fees, security brokerage fees, annuity sales, insurance activity and OREO income.