CBB Bancorp, Inc. Announces Addition of Douglas Goddard to Board of Directors

Rhea-AI Summary

CBB Bancorp, Inc. appoints Douglas Goddard to its Board of Directors and subsidiary bank, bringing over 40 years of financial management experience to the company.

LOS ANGELES--(BUSINESS WIRE)-- CBB Bancorp, Inc. (the “Company”) (OTCQX: CBBI), the parent company of Commonwealth Business Bank (the “Bank”), today announced that Douglas Goddard has been appointed to its Board of Directors, as well as to the Board of the Company’s subsidiary bank. The appointment to each of the Boards is effective March 1, 2024.

Mr. Goddard has over 40 years of financial management experience in commercial banking, with over 20 years in the role of Chief Financial Officer for publicly traded financial institutions. Most recently, he served as Chief Financial Officer of Commonwealth Business Bank before retiring from that role in October of 2023.

“We are excited to have Mr. Goddard join our board,” said Soon Han Pak, Chair of both the Company and the Bank. “His extensive experience in Bank Asset/Liability management, financial controls, and treasury operations will be important assets for our board as we continue to plan for the Bank’s future success.”

ABOUT CBB Bancorp, Inc.

CBB Bancorp, Inc. is the holding company of Commonwealth Business Bank, a full-service commercial bank which specializes in small-to-medium-sized businesses and does business as “CBB Bank.” The Bank has eleven full-service branches in Los Angeles and Orange Counties in California, Dallas County in Texas, and Honolulu, Hawaii; two SBA regional offices in Los Angeles and Dallas counties; and loan production offices in Georgia and Washington.

For additional information, please go to www.cbb-bank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240229547716/en/

James Hong

President & CEO

(323) 988-3005

JamesH@cbb-bank.com

Source: CBB Bancorp, Inc.

FAQ

Who has been appointed to the Board of Directors of CBB Bancorp, Inc. and its subsidiary bank?

Douglas Goddard has been appointed to the Board of Directors of CBB Bancorp, Inc. and its subsidiary bank.

What is the ticker symbol for CBB Bancorp, Inc.?

The ticker symbol for CBB Bancorp, Inc. is CBBI.

What is Douglas Goddard's background in financial management?

Douglas Goddard has over 40 years of financial management experience in commercial banking, with over 20 years as Chief Financial Officer for publicly traded financial institutions.

When did Douglas Goddard's appointment to the Boards become effective?

Douglas Goddard's appointment to the Boards became effective on March 1, 2024.

What role did Douglas Goddard previously hold at Commonwealth Business Bank?

Douglas Goddard previously served as the Chief Financial Officer of Commonwealth Business Bank before retiring from that role in October of 2023.