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CBB BANCORP INC (CBBI) is a financial holding company headquartered in Los Angeles, California. The company primarily operates through its subsidiary, Commonwealth Business Bank, which serves the banking needs of small to medium-sized businesses and commercial real estate borrowers. With a focus on providing personalized banking services, CBBI offers a range of financial products including checking and savings accounts, loans, and cash management services.
Recently, CBBI has been actively expanding its market reach and enhancing its digital banking platform to better serve its clients. The company's commitment to innovation and customer satisfaction has led to a steady growth in its client base and financial performance. In addition to traditional banking services, CBBI offers specialized financial solutions such as equipment financing, SBA loans, and trade finance services.
Financially, CBBI is known for its strong balance sheet and prudent risk management practices. The company has consistently reported solid earnings and maintained a robust capital position. Strategic partnerships with fintech companies and other financial institutions have also enabled CBBI to diversify its product offerings and enter new markets.
CBBI's latest projects include the expansion of its digital banking capabilities and the introduction of new loan products tailored to the needs of small business owners. The company is also focused on sustainable growth and community development, regularly participating in local community initiatives and supporting economic growth in its service areas.
Overall, CBB BANCORP INC is a dynamic and forward-thinking financial institution dedicated to providing comprehensive banking solutions to its clients. Through continuous innovation and a customer-centric approach, CBBI aims to remain a key player in the financial services industry.
CBB Bancorp, Inc. (OTC PINK: CBBI) has declared a quarterly cash dividend of $.077 per common share, payable on February 25, 2022, to stockholders of record as of February 11, 2022. This dividend reflects the company's ongoing commitment to providing returns to its shareholders. CBB Bancorp operates Commonwealth Business Bank, offering services primarily to small- to medium-sized businesses across various locations including Los Angeles, Orange, Dallas, and Honolulu.
CBB Bancorp, Inc. (CBBI) reported fourth quarter 2021 net income of $8.0 million, or $0.77 per diluted share, marking a 1.7% increase from the prior quarter and a 115.7% increase year-over-year. For the year, net income was $27.5 million, up 178.6% from $9.9 million in 2020. The rise in income was fueled by strong SBA loan originations. However, the net interest margin slightly decreased to 3.49%. The Company had a negative provision for loan losses of $0.8 million in Q4, indicating improved asset quality.
CBB Bancorp, Inc. has announced a quarterly cash dividend of $.075 per common share, payable on November 26, 2021. Stockholders of record as of November 12, 2021 will receive this dividend. The company operates CBB Bank, serving small to medium-sized businesses with ten branches in Los Angeles, Orange, Dallas, and Honolulu, along with multiple loan production offices across the U.S.
CBB Bancorp, Inc. (OTCQX: CBBI) reported a strong third quarter 2021 with net income reaching $7.9 million or $0.75 per diluted share, up 25% from the previous quarter and 171.5% year-over-year. Following the July 1 acquisition of Ohana Pacific Bank, total assets increased to $1.9 billion, an 18.4% rise. The return on average assets was 1.73% and the efficiency ratio improved to 49.0%. Net interest income climbed 18.7% quarter-over-quarter, driven by lower costs of deposits and SBA loan activity. Deposits surged 20.8% from the last quarter, bolstering the bank's capital position.
CBB Bancorp, Inc. (OTCQX: CBBI) has declared a quarterly cash dividend of $.061 per common share. This dividend will be payable on or about August 27, 2021, to stockholders of record as of the close of business on August 13, 2021. CBB Bancorp is the holding company for Commonwealth Business Bank, which operates ten branches in Los Angeles, Orange, Dallas Counties, and Honolulu, Hawaii, specializing in small to medium-sized businesses.
CBB Bancorp reported a net income of $6.3 million for Q2 2021, reflecting a significant increase of 18.2% quarterly and 281.5% year-over-year. Earnings per share rose to $0.61. Key metrics included a return on average assets of 1.70% and return on average equity of 14.91%. The net interest margin stood at 3.75%, a decrease from the previous quarter due to high cash balances linked to the upcoming Ohana Pacific Bank acquisition. Total deposits increased 15.7% from the prior quarter, signaling strong balance sheet growth.
CBB Bancorp, Inc. (OTCQX: CBBI) has announced the appointment of Martin Feuer to its Board of Directors, effective July 8, 2021. With over 40 years of experience in financial services, Feuer brings expertise in regulatory compliance and risk management, having held senior positions at prominent firms like MFUG Union Bank and Deloitte. Chairwoman Soon Han Pak expressed enthusiasm about his addition, emphasizing the potential benefits to the Bank’s growth and expansion strategy.
CBB Bancorp, Inc. (OTCQX: CBBI) has completed its acquisition of Ohana Pacific Bank (OTCPK: OHPB), enhancing its footprint in Hawaii with two new branches. This strategic move is expected to bolster CBB's core deposit and loan growth. Ohana will operate as a division of Commonwealth Business Bank, retaining its leadership under James C. Hong, who also joins CBB's executive team. CBB now operates a total of ten branches across California and Hawaii, alongside various regional and loan production offices.
CBB Bancorp announced a quarterly cash dividend of $0.05 per common share, payable on or about June 25, 2021. This dividend will benefit shareholders of record as of June 11, 2021. Chairwoman Soon Han Pak expressed confidence in the company's growth and earnings potential, attributing the initiation of the dividend program to shareholder support. CBB Bancorp operates Commonwealth Business Bank, focusing on small to medium-sized businesses with a presence in various counties and regions.
CBB Bancorp, Inc. (OTCQX: CBBI) has secured all necessary regulatory approvals to proceed with its acquisition of Ohana Pacific Bank in Honolulu, Hawaii. Shareholders of Ohana Pacific Bank have also given their approval for this transaction. The completion of the acquisition is anticipated in the third quarter of this year, subject to standard closing conditions. This step marks a significant move for CBB Bancorp, enhancing its footprint in the banking sector.
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