trending Market Intelligence /marketintelligence/en/news-insights/trending/5ImcEaMm26EUgoClNVMXQA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

RBB Bancorp completes acquisition of Chicago-based PGB Holdings

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments

RBB Bancorp completes acquisition of Chicago-based PGB Holdings

Los Angeles-based RBB Bancorp completed its acquisition of Chicago-based PGB Holdings Inc. and unit Pacific Global Bank.

As part of the transaction, Pacific Global Bank merged into Royal Business Bank.

Under the terms of the deal, RBB acquired PGB for about $32.9 million in cash, or $69.49 for every PGB common share. PGB owns two of its three branches with an estimated fair market value of about $2 million in excess of book value. RBB expects the transaction to be accretive to EPS in 2020 in the high single-digit range. RBB expects a payback period of about 3.3 years. The EPS accretion estimates do not include any assumption of revenue synergies.

The transaction brings RBB's total assets to more than $3.0 billion, based on information as of Sept. 30, 2019, according to the news release.

RBB is entering the Chicago market as part of the deal and plans to operate its Chicago branches as Pacific Global Bank, A Division of Royal Business Bank, until a system conversion near the end of March. At that time, they will be operated as Royal Business Bank, RBB Chairman and CEO Alan Thian said in a news release. He also said the bank plans to open two new branches in metro Chicago in the next two years.

The Findley Group was RBB's financial adviser on the deal, while Loren P. Hansen APC was its legal counsel. Janney Montgomery Scott LLC was PGB's financial adviser, while Barack Ferrazzano Kirschbaum & Nagelberg LLP was its legal adviser.