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CBB Bancorp, Inc. Announces Retirement of Chief Executive Officer Joanne Kim and Appointment of James Hong as New CEO
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
CBB Bancorp, Inc. (OTCQX: CBBI) announces the retirement of President and CEO Joanne Kim effective this month after 11 years of service. The board expressed gratitude for her contributions to the company's growth. Following her departure, James Hong, currently Senior Executive Vice President and CEO of the Bank's Ohana Pacific Bank division, will take over as President and CEO. With 35 years of banking experience in the Korean-American market, Hong is expected to drive further growth and profitability for CBB Bancorp.
Positive
James Hong's extensive 35 years of executive experience in the Korean-American banking market.
Expectations for continued growth and profitability under new leadership.
Negative
None.
LOS ANGELES--(BUSINESS WIRE)--
CBB Bancorp, Inc. (“CBB” or the “Company”) (OTCQX: CBBI), the parent company of Commonwealth Business Bank (the “Bank”) today announced that Ms. Joanne Kim is retiring this month from her positions as President and Chief Executive Officer of the Company and the Bank.
“On behalf of the board of directors and our stockholders, I want to thank Joanne for her eleven years of service and the many contributions she has made to the growth and success of CBB Bancorp and CBB Bank,” said Soon Pak, Chairwoman of the Board of the Company and the Bank.
The Company further announced that Mr. James Hong, currently Senior Executive Vice President of the Bank and Chief Executive Officer and President of the Bank's Ohana Pacific Bank division, will be promoted to the positions of President and Chief Executive Officer of the Company and the Bank upon Ms. Kim's retirement.
“James Hong has over 35 years of executive level experience in the Korean-American banking market, including in the Los Angeles area prior to his time with Ohana Pacific Bank. The other directors and I look forward to working with him to continue growing CBB's business and profitability,” said Chairwoman Soon Pak.
About CBB Bancorp, Inc.
CBB Bancorp, Inc. is the holding company of Commonwealth Business Bank, a full-service commercial bank which specializes in serving small-to-medium-sized businesses and does business as “CBB Bank.” The Bank has ten full-service branch offices, which are located in Los Angeles and Orange Counties, California, Dallas County, Texas and Honolulu, Hawaii; and five loan production offices located in Texas, Georgia, Colorado and Washington.
