Welcome to our dedicated page for Cbb Bancorp news (Ticker: CBBI), a resource for investors and traders seeking the latest updates and insights on Cbb Bancorp stock.
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.
Access verified press releases, regulatory filings, and analysis of key developments impacting CBBI’s operations. Our curated collection includes earnings announcements, leadership updates, and insights into the company’s approach to risk management and community engagement.
Key content categories cover quarterly financial results, merger/acquisition activity, compliance updates, and technological advancements in digital banking services. Bookmark this page for streamlined access to CBBI’s material developments, presented with context about the competitive banking landscape.
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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.
CBB Bancorp (OTCQX: CBBI) reported net income of $5.5 million for Q2 2024, or $0.51 per diluted share, compared to $5.7 million in Q1 2024. The decrease was primarily due to lower net interest income and gain on sale of loans, offset by a lower provision for credit losses and noninterest expenses. Key metrics include:
- Return on average assets: 1.31%
- Return on average equity: 9.06%
- Efficiency ratio: 55.69%
- Net interest margin: 3.77%
- Loans receivable: $1.44 billion (up 3.2% from Q1)
- Deposits: $1.34 billion (down 1.5% from Q1)
- Stockholders' equity: $245.3 million (up 1.9% from Q1)
The bank is adapting to the changing economic environment by focusing on technology adoption and exploring new growth opportunities.
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