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CBB Bancorp, Inc. operates as the holding company for Commonwealth Business Bank, a full-service commercial bank doing business as CBB Bank. The bank specializes in lending to small- and medium-sized businesses and maintains banking offices in California, Texas, Hawaii and New Jersey, with SBA regional offices and loan production offices supporting commercial lending activity.
Company news commonly covers quarterly financial results, net interest income and margin trends, provision for credit losses, asset quality, regulatory capital ratios and the bank's well-capitalized status. Other recurring updates include cash dividend declarations, SBA-related income, loan sale activity and executive leadership changes at the holding company and bank.
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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