RBB Bancorp says US regulators terminated Oct 2023 consent order
Adds details and context order throughout
Aug 22 (Reuters) -RBB Bancorp RBB.O said on Thursday a consent order against the community bank issued by U.S. regulators in October 2023 has been terminated.
It follows the successful resolution of the deficiencies in its Anti-Money Laundering and Countering the Financing of Terrorism program, RBB and its subsidiaries said.
The order was issued by the Federal Deposit Insurance Corporation and the California Department of Financial Protection and Innovation.
The Los Angeles, California-based lender had total assets of $3.9 billion as of June 30.
Its shares have risen roughly 15% so far this year, giving it a market capitalization of about $388.14 million, according to LSEG data.
Reporting by Manya Saini in Bengaluru
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