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LOS ANGELES, Dec. 19, 2024 (GLOBE NEWSWIRE) -- RBB Bancorp (the "Company”) (NASDAQ: RBB) is pleased to announce that effective January 1, 2025, Mr. Johnny Lee, currently President and Chief Banking Officer of Royal Business Bank (the "Bank”), will be appointed as President of the Company, President and Chief Executive Officer of the Bank and a director of the Company and Bank. In addition, effective as of May 22, 2025, Mr. Lee will be appointed as Chief Executive Officer of the Company. Mr. Lee brings a wealth of knowledge and experience to the Company from various financial institutions, and the Company will continue to benefit and grow with his leadership. Prior to joining the Company in 2023, Mr. Lee, age 62, most recently served as Senior Managing Director, Head of International and Commercial Banking of East West Bank, from 2021 to 2023. Prior thereto, Mr. Lee also served in the following roles at East West Bank: Head of Venture Lending, Emerging Technologies, from 2018 to 2023; Managing Director & Chief Administrative Officer, US Greater China (Bridge) Banking, from 2015 to 2018; and Managing Director, International Banking Group, Corporate Banking Division, from 2013 to 2015. Mr. Lee has over 35 years of banking experience. Effective January 1, 2025, Mr. David Morris, will resign from his position as Chief Executive Officer of the Bank and President of the Company. Mr. Morris will continue serving as the Company's Chief Executive Officer until he retires effective as of May 21, 2025. Mr. Morris will remain on the Boards of Directors of the Company and the Bank. "We wish to express our sincere appreciation for the tremendous work Mr. Morris has completed for the Company over the past 15 years and we are grateful for his service and dedication. Our Company has grown substantially due in large part to his strategic efforts and we are so pleased he plans to continue his service as a director of both the Company and the Bank after he retires from the day-to-day responsibilities as CEO of the Company,” said Christina Kao, the Company's Chair of the Board of Directors. "We are also pleased to have Mr. Lee become President and CEO of the Bank at the start of the year and Chief Executive Officer of the Company in May of 2025 through a succession plan. Mr. Lee is a remarkably talented executive, and I look forward to his continued leadership and ongoing contributions as we continue to attract top-tier banking professionals to grow our team and strive to deliver value to our customers, community, and shareholders.” Commenting on his new appointment, Mr. Lee stated, "I am delighted to be part of the collaborative Royal Business Bank team. The Company has demonstrated outstanding growth and performance while delivering shareholder value and serving the Asian American community and Asian-centric businesses. I look forward to leading the Company to achieve success for the benefit of our employees, clients and shareholders." In additional leadership changes, effective January 1, 2025, Mr. Mina Rizkalla, currently Senior Vice President/BSA Officer & Deputy Chief Risk Officer for the Bank since 2023, will become Executive Vice President and Chief Risk Officer for the Company and the Bank and will report to Mr. Lee. Mr. I-Ming (Vincent) Liu, currently Executive Vice President and Chief Risk Officer for the Company and the Bank, will relinquish the Chief Risk Officer position and remain with the Bank as Executive Vice President and Chief of Staff and will report to Mr. Lee. In his new role, Mr. Liu will assist with the announced senior leadership succession plan and transition timeline. Corporate Overview RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California. As of September 30, 2024, the Company had total assets of $4.0 billion. Its wholly-owned subsidiary, Royal Business Bank, is a full service commercial bank, which provides consumer and business banking services predominately to the Asian communities and Asian-centric businesses in Los Angeles County, Orange County, and Ventura County in California, in Las Vegas, Nevada, in Brooklyn, Queens, and Manhattan in New York, in Edison, New Jersey, in the Chicago neighborhoods of Chinatown and Bridgeport, Illinois, and on Oahu, Hawaii. Bank services include remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, 1-4 single family residential loans, trade finance, a full range of depository account products and wealth management services. The Bank has nine branches in Los Angeles County, two branches in Ventura County, one branch in Orange County, California, one branch in Las Vegas, Nevada, three branches and one loan operation center in Brooklyn, three branches in Queens, one branch in Manhattan in New York, one branch in Edison, New Jersey, two branches in Chicago, Illinois, and one branch in Honolulu, Hawaii. The Company's administrative and lending center is located at 1055 Wilshire Blvd., Los Angeles, California 90017, and its operations center is located at 7025 Orangethorpe Ave., Buena Park, California 90621. The Company's website address is www.royalbusinessbankusa.com . Safe Harbor Certain matters set forth herein (including the exhibits hereto) constitute forward-looking statements relating to the Company's current business plans and expectations and our future financial position and operating results. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, the effectiveness of the Company ' s internal control over financial reporting and disclosure controls and procedures ; the potential for additional material weaknesses in the Company ' s internal controls over financial reporting or other potential control deficiencies of which the Company is not currently aware or which have not been detected; business and economic conditions generally and in the financial services industry, nationally and within our current and future geographic markets, including the tight labor market, ineffective management of the United States ( " U.S. ” ) federal budget or debt or turbulence or uncertainly in domestic of foreign financial markets; the strength of the U.S. economy in general and the strength of the local economies in which we conduct operations; our ability to attract and retain deposits and access other sources of liquidity; possible additional provisions for loan losses and charge-offs; credit risks of lending activities and deterioration in asset or credit quality; extensive laws and regulations and supervision that we are subject to, including potential supervisory action by bank supervisory authorities; increased costs of compliance and other risks associated with changes in regulation, including any amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act; compliance with the Bank Secrecy Act and other money laundering statutes and regulations; potential goodwill impairment; liquidity risk; fluctuations in interest rates; risks associated with acquisitions and the expansion of our business into new markets; inflation and deflation; real estate market conditions and the value of real estate collateral; environmental liabilities; our ability to compete with larger competitors; our ability to retain key personnel; successful management of reputational risk; severe weather, natural disasters, earthquakes, fires; or other adverse external events could harm our business; geopolitical conditions, including acts or threats of terrorism, actions taken by the U.S. or other governments in response to acts or threats of terrorism and/or military conflicts, including the conflicts between Russia and Ukraine and in the Middle East, which could impact business and economic conditions in the U.S. and abroad; public health crises and pandemics, and their effects on the economic and business environments in which we operate, including our credit quality and business operations, as well as the impact on general economic and financial market conditions; general economic or business conditions in Asia, and other regions where the Bank has operations; failures, interruptions, or security breaches of our information systems; climate change, including any enhanced regulatory, compliance, credit and reputational risks and costs; cybersecurity threats and the cost of defending against them; our ability to adapt our systems to the expanding use of technology in banking; risk management processes and strategies; adverse results in legal proceedings; the impact of regulatory enforcement actions, if any; certain provisions in our charter and bylaws that may affect acquisition of the Company; changes in tax laws and regulations; the impact of governmental efforts to restructure the U.S. financial regulatory system; the impact of future or recent changes in the FDIC insurance assessment rate and the rules and regulations related to the calculation of the FDIC insurance assessments; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the SEC, the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters, including Accounting Standards Update 2016-13 (Topic 326, "Measurement of Current Losses on Financial Instruments, commonly referenced as the Current Expected Credit Losses Model, which changed how we estimate credit losses and may further increase the required level of our allowance for credit losses in future periods; market disruption and volatility; fluctuations in the Company's stock price; restrictions on dividends and other distributions by laws and regulations and by our regulators and our capital structure; issuances of preferred stock; our ability to raise additional capital, if needed, and the potential resulting dilution of interests of holders of our common stock; the soundness of other financial institutions; our ongoing relations with our various federal and state regulators, including the SEC, FDIC, FRB and DFPI; our success at managing the risks involved in the foregoing items and all other factors set forth in the Company's public reports, including its Annual Report as filed under Form 10-K for the year ended December 31, 2023, and particularly the discussion of risk factors within that document. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company's earnings or shareholders, are for illustrative purposes only, are not forecasts, and actual results may differ. Lynn Hopkins, Chief Financial Officer (657) 255-3282 [email protected] Source: RBB BancorpPreview: Colchester United vs. Gillingham - prediction, team news, lineups
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Shortly after Matt Gaetz withdrew his name from consideration for attorney general on Thursday, Fox News host Harris Faulkner suggested he could be appointed to represent Florida in the U.S. Senate if Senator Marco Rubio is confirmed to serve on President-elect Donald Trump 's Cabinet. Last week, Trump nominated then-U.S. Representative Gaetz to lead the Department of Justice (DOJ), a selection evoking scrutiny from Democrats and some Republicans . Gaetz, who represented Florida's 1st Congressional District, resigned from his House seat November 13 following his nomination. At the time, Gaetz said he did not want to serve in the same position during the 119th Congress . Gaetz was the subject of a House Ethics Committee investigation over allegations that he "engaged in sexual misconduct and illicit drug use" and accusations of involvement in activities leading to the sex trafficking of a 17-year-old girl. He has denied any wrongdoing. Some also questioned Gaetz's ability to lead the DOJ, citing his limited legal experience and the department's previous investigation of his actions. The agency finished its probe last year and no charges were leveled against Gaetz. Like other recent Cabinet nominees, including Rubio, who was chosen by Trump for secretary of state, Gaetz required Senate approval for attorney general confirmation. On Thursday, Gaetz wrote on X, formerly Twitter , that he met with senators Wednesday and was grateful for "their thoughtful feedback," adding that "while the momentum was strong, it is clear that my confirmation was unfairly becoming a distraction to the critical work of the Trump/Vance Transition." Trump posted on Truth Social that he appreciated "the recent efforts of Matt Gaetz." Earlier this month, Trump nominated another Florida lawmaker, U.S. Representative Michael Waltz—who represents Florida's 6th Congressional District—for national security adviser. On Fox News, Faulkner, co-host of Fox 's Outnumbered, said that Florida Governor Ron DeSantis "has to appoint—if Michael Waltz, congressman, moves on in his nominated post, if Marco Rubio, senator, moves on in his nominated post—he's got some positions to work with there in that state." Faulkner added: "Could it be Matthew Gaetz who then becomes a U.S. senator for an interim in the state of Florida?" Newsweek reached out to DeSantis' press team for comment via email on Thursday. In Florida, along with 44 other states, the governor has the power to appoint someone to a vacant Senate seat as a temporary replacement. Therefore, DeSantis, who endorsed Trump after dropping out of the presidential primaries, could technically appoint Gaetz to fill the seat. Before Gaetz's withdrawal, DeSantis said he has "already received strong interest from several possible candidates," saying that the selection will "likely" be made "by the beginning of January." DeSantis' appointee could serve until a special election is held, likely in 2026, in accordance with state law. Ahead of Gaetz's withdrawal, there were some calls for Lara Trump, daughter-in-law of the president-elect, to fill the potentially vacant Senate seat. Other names floated have included DeSantis' chief of staff, James Uthmeier, and as Florida GOP Lieutenant Governor Jeanette Nunez. Gaetz supported Trump over DeSantis in the 2024 presidential campaign, but since the Florida governor dropped out in late January, Gaetz has posted support for the governor. In January, he wrote on X: "I actually still love DeSantis," and in June, he applauded the governor for helping make Florida "not a swing state." Gaetz served as an informal political adviser to DeSantis during his first gubernatorial election in 2018.
Mariah Carey, still fighting off the flu , has announced the cancellation of her weekend Christmas concerts in New Jersey and New York. “Newark and Belmont — I wish I had better news but unfortunately I’m still sick and have to cancel the shows tonight and on Sunday ,” she wrote on social media Friday morning, referring to her concerts at Newark’s Prudential Center and Elmont’s UBS Arena . “I’m really devastated about it and appreciate your support.” It doesn’t appear that either show will be rescheduled, though Ticketmaster assured fans they’d receive a full refund . The cancellations come two days after the Grammy winner told fans in Pittsburgh she’d come down with the flu just hours before that concert was scheduled to begin. As of Friday, the 55-year-old is still scheduled to perform at Brooklyn’s Barclays Center on Tuesday, wrapping up a 20-city trek of the annual Mariah Carey’s Christmas Time Tour. Fans online have largely been supportive of the ailing diva, who’s became synonymous with the holiday season thanks to her chart-topping 1994 hit “All I Want for Christmas Is You.” Carey last performed on Monday in North Carolina where her 13-year-old twins, Moroccan and Monroe, delivered flowers to her onstage as it was announced the Christmas classic had returned to No. 1 on the Billboard Hot 100 for the 15th time in 30 years. Netflix subscribers can see Carey on Christmas Day when a taped performance of the hitmaker airs before a pair of NFL games streaming live on the platform. Those wanting to see Carey perform live will have to wait until late January when she kicks off her “ Celebration of Mimi ” residency, which runs through Feb. 15 at the Park MGM in Las Vegas.Trump transfers all his DJT shares to his revocable trust, SEC filings showMega Millions Jackpot Hits $1B
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- Signaling a new era of service to the congregation and the community with renewed commitment and the addition of beautifully renovated spaces - BERGAMO, Italy, and LOS ANGELES, Calif., Dec. 24, 2024 (SEND2PRESS NEWSWIRE) — Nestled between Lake Como and Lake Iseo in the north of Italy, the city of Bergamo is an architectural gem of medieval charm and breathtaking beauty. A UNESCO World Heritage Site, its landmarks take visitors on a journey through history, from the 12th-century Basilica di Santa Maria Maggiore to the famous 16th-century walls that surround the upper city, through the museum that honors the beloved operas of Bergamo’s own Gaetano Donizetti, to today’s trendy bistros, bakeries and gelaterias. And in the heart of the city are the expanded new facilities of the Ideal Church of Scientology Mission of Bergamo . Scientology Missions form the vanguard of the Scientology religion, providing the full array of basic and introductory Scientology services and Scientology auditing (spiritual counseling). The Ideal Church of Scientology Mission in Bergamo is designed to serve as the physical embodiment of Scientology technology in helping all to attain spiritual freedom. It was a joyous Sunday afternoon, November 10, when community leaders and parishioners celebrated the anniversary and expansion of the Ideal Church of Scientology Mission of Bergamo. Those joining Mission Director Marta Riva for this milestone celebration included Ms. Nilupa Warnakulasooriya, Representative of the Sri Lanka North Italy Community; Mr. Franco Ravaglioli, Vice President of the Universal Peace Federation of Italy; Mr. Daniel Sigua, Founder and CEO of TCG News Italia; and Mr. Gabriele Riva, an intercultural advocate and a lieutenant of the Alpini, an elite mountain infantry corps of the Italian Army known for its volunteerism and humanitarian activities. Stepping to the podium, Ms. Warnakulasooriya thanked the mission for helping her achieve her humanitarian objectives. She spoke of her passion for ensuring Sri Lankan children living in Italy can adapt to the culture and thrive in their new home. Growing up in a foreign culture can be daunting. Children have to contend with customs and struggle with a new language, which can set them apart and create friction. When Ms. Warnakulasooriya discovered L. Ron Hubbard’s The Way to Happiness she found the practical skills and moral values that can prepare these youths to become the leaders of tomorrow . “L. Ron Hubbard provided a great gift by giving us The Way to Happiness ,” she said, “a gift that allows us to create harmony and respect among people of all races, religions, ages and genders.” Vice President of Universal Peace Federation of Italy Mr. Franco Ravaglioli believes in the unique and essential role religions play in promoting a world of lasting peace in which people of all nationalities, ethnicities and cultures can live together in harmony. “I appreciate the Scientologists I’ve come to know—they are open, willing to work together, and committed to creating real change. We will continue together on this path to create a better world,” he said, “for I believe that one day, we can achieve what Scientology Founder L. Ron Hubbard envisioned with the Aims of Scientology: ‘A world without insanity, without criminals and without war.’ In other words, a world of peace.” TCG News Italia CEO Mr. Daniel Sigua is dedicated to the human rights of the Latin American diaspora in Italy. “Today, we have a community that is more aware and educated about human rights, thanks to your Spanish-language resources and materials promoting the Universal Declaration of Human Rights.” He thanked the Church for its firm commitment to promoting values of unity and collaboration. “Thanks to your support, we will be able to carry out important initiatives for human rights and the growth of our community.” The final speaker, Lt. Riva, has long served in the Alpini’s legendary Giulia Mountain Brigade. “Those experiences—despite their hardships—have remained with me for a lifetime,” he said. “In the early 1980s, I was offered the opportunity to host 40 young university students from the Philippines who were touring around the world. In my small hamlet of about 1,000 people, convincing my fellow villagers to open their homes and hearts to strangers from a country so different from ours was a feat. But hospitality and generosity are values we lived by back then—values that, sadly, have faded over the years, even in my own little town.” Last winter, after the long interruption of the pandemic, the students from the Filipino choir reached out again, and Mr. Riva turned to the Scientology Mission of Bergamo. “It is thanks to all of you—your willingness, your help, and your incredible efficiency—that this choir was able to perform here in Bergamo. They sang in honor of the many families touched by the pandemic, families who have shown strength and resilience. This experience brought new life to my village. I want to express my deepest gratitude for the Church of Scientology’s invaluable role as a champion of ‘cooperation between different cultures for the common good.’” Mission director Marta Riva shared a brief history of her Mission, its services, and its humanitarian goals. “The 2020 pandemic was one of the hardest times our city ever experienced,” she said. “Our staff and parishioners immediately responded to help the many families affected by the tragedy. Today, our Scientology community has grown to such an extent that we needed to expand our premises, where we stand ready to serve not only Scientologists but all of Bergamo.” Visitors to the Ideal Bergamo Mission are welcome to tour the Public Information Display, featuring multimedia presentations of the basic beliefs and practices of Dianetics and Scientology as well as the life and legacy of L. Ron Hubbard. As an Ideal Church of Scientology Mission, Bergamo is equipped with every facility needed to provide the full array of introductory Scientology services. These include the popular Life Improvement Courses through which anyone may find workable solutions to common challenges of everyday life—such as how to improve a marriage, successfully raise children, increase personal motivation, and set and achieve goals. The Mission also offers seminars on a wide range of topics, including personal efficiency. The Hubbard Dianetics Seminar is based on Mr. Hubbard’s watershed work Dianetics: The Modern Science of Mental Health , the bestselling book that reveals the source of one’s nightmares, unreasonable fears and irrational behavior—the reactive mind—and how to conquer it. Additionally, the Mission provides spiritual counseling, known as auditing , and the Purification Program , developed by Mr. Hubbard to free individuals from the mental and spiritual damage caused by drugs and toxins. November 10 also saw the Grand Opening of the new Ideal Church of Scientology Mission of McMinnville, Oregon, and the Ideal Scientology Mission of Chiayi, Taiwan. It was followed on November 16, with the Grand Opening of the Ideal Scientology Missions of Taichung, Taiwan, and Santo André, Brazil. The new Ideal Scientology Mission of Osaka, Japan, will open on November 30. Many more Ideal Scientology Missions are planned across North and South America, Europe and Asia in the coming year. The Scientology religion was founded by author and philosopher L. Ron Hubbard. Mr. David Miscavige is the Scientology religion’s ecclesiastical leader . The first Church of Scientology was formed in Los Angeles in 1954 and the religion has expanded to more than 11,000 Churches, Missions and affiliated groups, with millions of members in 167 countries. LEARN MORE: https://www.scientologynews.org/press-releases/ https://bergamasca.scientologymissions.org/ VIDEO: https://youtu.be/j-2euFXXbfc?si=rxRaPmCZR7EyCsLi PHOTO link for media: https://www.Send2Press.com/300dpi/24-1224-s2p-COSBergamo-300dpi.jpg PHOTO CAPTION: Celebrating the anniversary and expansion of the Ideal Scientology Mission of Bergamo. TAGS: #IdealScientologyMission #Bergamo NEWS SOURCE: Church of Scientology International Keywords: Religion and Churches, Ideal Scientology Mission, BERGAMO, Italy This press release was issued on behalf of the news source (Church of Scientology International) who is solely responsibile for its accuracy, by Send2Press® Newswire . Information is believed accurate but not guaranteed. Story ID: S2P123038 APDF15TBLLI To view the original version, visit: https://www.send2press.com/wire/celebrating-the-25th-anniversary-and-the-expansion-of-the-ideal-scientology-mission-of-bergamo/ © 2024 Send2Press® Newswire, a press release distribution service, Calif., USA. Disclaimer: This press release content was not created by nor issued by the Associated Press (AP). Content below is unrelated to this news story. Copyright 2024 Send2Press NewswireUCF coach Gus Malzahn reportedly resigning to take Florida State OC jobJohn Mannion hires Skaneateles native to serve as his top staffer in Congress