CBB Bancorp, Inc. Announces Addition of Khoi D. Dang to Board of Directors, Retirement of Alvin D. Kang

LOS ANGELES--(BUSINESS WIRE)-- CBB Bancorp, Inc. (the “Company”) (OTCQX: CBBI), the parent company of Commonwealth Business Bank (the “Bank”), today announced that Khoi D. Dang 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 January 1, 2023.

Mr. Dang has over 18 years of experience with expertise in banking and financial services, corporate governance, corporate finance/securities, public company representation, mergers and acquisitions, financial institution regulation, and risk and regulatory compliance. Most recently he served as Chief Legal and Administrative Officer and Corporate Secretary for Southern California Bancorp and Bank of Southern California, San Diego, California providing cross-department guidance, advice, and policy and strategic direction. He also served as a board member of Sugarmade Inc. in various committees such as Strategic Initiatives Committee, Management Risk Committee, Management ALCO, BSA/Compliance Committee, and Risk Committee.

“We are excited to have Mr. Dang join our board,” said Soon Han Pak, Chair of the Board of both the Company and the Bank. “His legal, financial institution regulation, risk management and financial services expertise will be an invaluable asset as the Bank continues its growth and expansion.”

Alvin D. Kang has announced his plans for retirement and will resign from the Board of Directors of the Company and the Bank effective December 31, 2022. Mr. Kang had been on the Board of the Directors of the Bank since 2013, and of the Company since its formation in 2017.

“Mr. Kang has been a valued member of our Board for ten years, helping to oversee our growth from $0.5 billion to $1.8 billion in assets,” said Soon Han Pak. “His contributions will be missed, and we wish him happiness and success in the coming years.”

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 ten 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 five loan production offices in the states of Texas, Georgia, Colorado, and Washington.

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

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James Hong

President & CEO

(323) 988-3005

JamesH@cbb-bank.com

Source: CBB Bancorp, Inc.

FAQ

Who is Khoi D. Dang and what is his experience?

Khoi D. Dang has over 18 years of experience in banking, corporate governance, and risk management, previously serving as Chief Legal and Administrative Officer at Southern California Bancorp.

What impact does Khoi D. Dang's appointment have on CBBI?

Dang's appointment is expected to provide strategic direction and enhance the bank's growth and risk management capabilities.

What are the details of Alvin D. Kang's retirement from CBBI?

Alvin D. Kang announced his retirement effective December 31, 2022, after ten years on the board, contributing significantly to the bank's asset growth.