I created a Utility class to create RoundedBitmapDrawables
https://gist.github.com/lawloretienne/a91fb0ce40f083073d4b8939281b3ecb
It works for circles and rounded squares.
public class RoundedBitmapDrawableUtility {
    public static RoundedBitmapDrawable getRoundedSquareBitmapDrawable(Context context, Bitmap originalBitmap, int cornerRadius){
        return getRoundedSquareBitmapDrawable(context, originalBitmap, cornerRadius, -1, -1);
    }
    public static RoundedBitmapDrawable getRoundedSquareBitmapDrawable(Context context, Bitmap originalBitmap, int cornerRadius, int borderWidth, int borderColor){
        int originalBitmapWidth = originalBitmap.getWidth();
        int originalBitmapHeight = originalBitmap.getHeight();
        if(borderWidth != -1 && borderColor != -1){
            Canvas canvas = new Canvas(originalBitmap);
            canvas.drawBitmap(originalBitmap, 0, 0, null);
            Paint borderPaint = new Paint();
            borderPaint.setStyle(Paint.Style.STROKE);
            borderPaint.setStrokeWidth(borderWidth);
            borderPaint.setAntiAlias(true);
            borderPaint.setColor(borderColor);
            int roundedRectDelta = (borderWidth/3);
            RectF rectF = new RectF(0 + roundedRectDelta, 0 + roundedRectDelta, originalBitmapWidth - roundedRectDelta, originalBitmapHeight - roundedRectDelta);
            canvas.drawRoundRect(rectF, cornerRadius, cornerRadius, borderPaint);
        }
        RoundedBitmapDrawable roundedImageBitmapDrawable = RoundedBitmapDrawableFactory.create(context.getResources(), originalBitmap);
        roundedImageBitmapDrawable.setCornerRadius(cornerRadius);
        roundedImageBitmapDrawable.setAntiAlias(true);
        return roundedImageBitmapDrawable;
    }
    public static RoundedBitmapDrawable getCircleBitmapDrawable(Context context, Bitmap originalBitmap){
        return getCircleBitmapDrawable(context, originalBitmap, -1, -1);
    }
    public static RoundedBitmapDrawable getCircleBitmapDrawable(Context context, Bitmap originalBitmap, int borderWidth, int borderColor){
        if(borderWidth != -1 && borderColor != -1) {
            Canvas canvas = new Canvas(originalBitmap);
            canvas.drawBitmap(originalBitmap, 0, 0, null);
            Paint borderPaint = new Paint();
            borderPaint.setStyle(Paint.Style.STROKE);
            borderPaint.setStrokeWidth(borderWidth);
            borderPaint.setAntiAlias(true);
            borderPaint.setColor(borderColor);
            int circleDelta = (borderWidth / 2) - DisplayUtility.dp2px(context, 1);
            int radius = (canvas.getWidth() / 2) - circleDelta;
            canvas.drawCircle(canvas.getWidth() / 2, canvas.getHeight() / 2, radius, borderPaint);
        }
        RoundedBitmapDrawable roundedImageBitmapDrawable = RoundedBitmapDrawableFactory.create(context.getResources(), originalBitmap);
        roundedImageBitmapDrawable.setCircular(true);
        roundedImageBitmapDrawable.setAntiAlias(true);
        return roundedImageBitmapDrawable;
    }
}