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CBB Bancorp, Inc. (CBBI) provides comprehensive financial services through its community-focused banking operations. This news hub offers investors and stakeholders timely updates about the company’s strategic initiatives, financial performance, and market positioning.
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CBB Bancorp (OTCQX: CBBI) has announced a quarterly cash dividend of $0.10 per common share, payable on May 23, 2025, to stockholders of record as of May 09, 2025.
The company operates as the holding company of Commonwealth Business Bank, doing business as 'CBB Bank'. The bank specializes in small-to-medium-sized businesses and maintains twelve full-service branches across Los Angeles, Orange, Dallas Counties, Honolulu, and Fort Lee, New Jersey. Additionally, it operates three SBA regional offices in Los Angeles, Dallas, and Bergen Counties, along with loan production offices in Georgia, Washington, and New York.
CBB Bancorp (CBBI) reported Q1 2025 net income of $4.5 million ($0.42 per diluted share), down from $5.7 million ($0.54 per share) in Q4 2024. The decline was attributed to lower net interest income, higher provision expense, and increased noninterest expenses.
Key performance metrics showed deterioration: Return on average assets fell to 0.99% from 1.27%, return on average equity decreased to 7.01% from 8.98%, and net interest margin declined to 3.38% from 3.55% quarter-over-quarter. The efficiency ratio increased to 60.41% from 56.66%.
Total deposits stood at $1.48 billion, slightly down 0.2% from Q4 2024 but up 8.5% year-over-year. The bank maintained strong capital ratios with Common Equity Tier 1 at 19.10% and Total Risk-Based Capital at 20.23%.
CBB Bancorp (OTCQX: CBBI) announced a significant leadership transition, with current President and CEO James Hong set to retire from both the Company and Commonwealth Business Bank effective April 18, 2025. The company's Executive Vice President and CFO Richard Koh will be promoted to President and CEO upon Hong's retirement.
Board Chairwoman Soon Pak acknowledged Hong's three years of dedicated service and contributions to CBB's growth. She expressed confidence in Koh's capabilities, citing his over twenty years of executive-level experience in the Korean-American banking market, including leadership roles in the Los Angeles area.
CBB Bancorp (OTCQX: CBBI) has announced the appointment of Alex Ko as Executive Vice President and Chief Operating Officer, effective January 2, 2025. Ko brings over 27 years of banking and finance experience, including his previous role as Senior EVP and CFO at Bank of Hope, where he led strategic growth, operational improvements, and M&A initiatives. He also has 12 years of experience at KPMG providing audit and advisory services to financial institutions.
CBB Bancorp operates as CBB Bank with eleven full-service banking offices across Los Angeles and Orange Counties in California, Dallas County in Texas, and Honolulu, Hawaii. The bank also maintains two SBA regional offices and loan production offices in Georgia and Washington, specializing in loans to small-to-medium-sized businesses.
CBB Bancorp (OTCQX: CBBI) has announced a quarterly cash dividend of $0.10 per common share, payable on February 28, 2025, to stockholders of record as of February 14, 2025. The company operates as the holding company of Commonwealth Business Bank, doing business as 'CBB Bank', which specializes in serving small-to-medium-sized businesses.
The bank maintains eleven full-service branches across Los Angeles, Orange, and Dallas Counties, and Honolulu, Hawaii. Additionally, it operates two SBA regional offices in Los Angeles and Dallas Counties, along with loan production offices in Georgia and Washington.
CBB Bancorp (OTCQX: CBBI) reported Q4 2024 net income of $5.7 million ($0.54 per diluted share), up from $5.6 million ($0.53 per diluted share) in Q3 2024. Full-year 2024 net income was $22.4 million ($2.12 per diluted share), down from $28.9 million ($2.72 per diluted share) in 2023.
The bank's Q4 2024 performance showed a net interest margin of 3.55%, down from 3.71% in Q3 2024, and an efficiency ratio of 55.66%. Net interest income was $15.6 million, up 1.1% quarter-over-quarter but down 8.8% year-over-year. Total deposits reached $1.48 billion, increasing by $33.0 million (2.3%) from Q3 2024.
The bank maintained strong capital ratios with a Common Equity Tier1 Risk-Based Capital Ratio of 19.02% and appointed Alex Ko as new Chief Operating Officer.
CBB Bancorp (OTCQX: CBBI) has declared a quarterly cash dividend of $0.10 per common share, payable on November 22, 2024, to stockholders of record as of November 08, 2024. CBB Bancorp operates as the holding company of Commonwealth Business Bank (CBB Bank), a full-service commercial bank focusing on small-to-medium-sized businesses. The bank maintains eleven full-service branches across Los Angeles, Orange, and Dallas Counties and Honolulu, along with two SBA regional offices and loan production offices in Georgia and Washington.
CBB Bancorp reported net income of $5.6 million ($0.53 per diluted share) for Q3 2024, up from $5.5 million ($0.51 per diluted share) in Q2 2024. Net interest income was $15.5 million, a 0.7% increase quarter-over-quarter but 14.1% lower than Q3 2023. The net interest margin decreased to 3.71% from 3.77% in Q2. Total deposits reached $1.45 billion, up 8.0% from Q2 but down 6.6% year-over-year. The bank's efficiency ratio was 56.61%, and return on average assets remained stable at 1.31%.
CBB Bancorp (OTCQX: CBBI), parent company of Commonwealth Business Bank, has appointed James R. Walther to its Board of Directors, effective August 1, 2024. Walther, with over 45 years of experience in banking, financial services, corporate governance, and mergers & acquisitions, previously served as Senior Counsel at Arnold & Porter Kaye Scholer LLP. He was recognized in Best Lawyers for Corporate Law, M&A Law, and Securities/Capital Markets Law from 2006 to 2023. Soon Han Pak, Chair of both CBB Bancorp and Commonwealth Business Bank, expressed enthusiasm about Walther's appointment, highlighting his legal and financial expertise as valuable assets for the bank's growth and expansion plans.
CBB Bancorp (OTCQX: CBBI), the holding company of Commonwealth Business Bank, has declared a quarterly cash dividend of $0.08 per common share. The dividend is payable on August 23, 2024, to stockholders of record as of the close of business on August 09, 2024. CBB Bank specializes in serving small-to-medium-sized businesses and operates eleven full-service branches across Los Angeles, Orange, and Dallas Counties, as well as Honolulu, Hawaii. The bank also maintains two SBA regional offices and loan production offices in Georgia and Washington, demonstrating its commitment to supporting businesses across multiple regions.
