Gateway Bank announced that it and RBB Bancorp have mutually agreed to terminate the definitive merger agreement originally entered into on Dec. 28, 2021.
RBB Bancorp appointed Johnny Lee president and chief banking officer of Royal Business Bank and RBB Bancorp. Prior to joining the company, Lee held the position of senior managing director and head of international and commercial banking at East West Bank.
RBB Bancorp entered into a definitive agreement to acquire Gateway Bank in a cash transaction valued at approximately $22.9 million, subject to certain terms and conditions.