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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.
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CBB Bancorp, Inc. (OTCQX: CBBI) reported a net income of $7.3 million for Q4 2022, a 28.0% increase from the prior quarter but an 8.5% decrease year-over-year. For the full year, net income was $27.9 million, up 0.4% from 2021. Key metrics include a net interest margin of 4.59%, a return on average assets of 1.64%, and a return on average equity of 14.04% for Q4 2022. Significant factors include loan growth, improved asset quality, and a reduced loan loss provision. However, noninterest income declined due to no SBA loan sales during the quarter. Total loans increased 4.7% quarter-over-quarter, while deposits saw a slight overall decline.
CBB Bancorp, Inc. (OTC-PINK: CBBI) announced the appointment of Khoi D. Dang to its Board of Directors and the Board of its subsidiary, Commonwealth Business Bank, effective January 1, 2023. Mr. Dang brings over 18 years of experience in banking, corporate governance, and risk management. His previous roles include Chief Legal and Administrative Officer at Southern California Bancorp. The announcement follows the retirement of Alvin D. Kang, who served on the boards since 2013, contributing to the growth of the bank from $0.5 billion to $1.8 billion in assets.
CBB Bancorp, Inc. has announced a quarterly cash dividend of
CBB Bancorp, Inc. (CBBI) announced a net income of $5.7 million for Q3 2022, a decline of 27.3% year-over-year and 11.3% from Q2 2022. The decrease is attributed to the absence of SBA loan sales, amid market volatility. Net interest income rose by 14.5% to $18.8 million, with a net interest margin improving to 4.28%. However, noninterest income fell significantly to $1.2 million from $4.5 million in the prior quarter, primarily due to no SBA loan sales. The company’s capital ratios remain strong, indicating regulatory compliance.
CBB Bancorp, Inc. (OTCQX: CBBI) has declared a quarterly cash dividend of $.08 per share, payable on August 26, 2022, to shareholders of record as of August 12, 2022. This dividend reflects the company’s ongoing commitment to returning value to its shareholders. CBB Bancorp operates Commonwealth Business Bank, which focuses on serving small- to medium-sized businesses with multiple branches across California and Hawaii.
CBB Bancorp, Inc. (OTCQX: CBBI) reported a net income of $6.5 million for Q2 2022, or $0.62 per diluted share, down 23.2% from the previous quarter but up 2.4% year-over-year. The decline was attributed to elevated loan loss provisions amid increased past due loans. Despite this, net interest income grew to $16.4 million, a 3.9% quarterly rise, benefiting from loan growth and higher asset yields. Net interest margin remained stable at 3.75% and noninterest expenses decreased slightly. The company’s return on average assets fell to 1.43% compared to the prior quarter.
CBB Bancorp, Inc. (OTCQX: CBBI) has declared a quarterly cash dividend of $.08 per common share. This dividend will be payable on May 27, 2022, to stockholders of record as of the close of business on May 13, 2022. The company is the holding entity for Commonwealth Business Bank, which operates ten branches across California and Hawaii, focusing on small- to medium-sized businesses. This move reinforces CBBI’s commitment to returning value to its shareholders.
CBB Bancorp (CBBI) reported a net income of $8.4 million ($0.80 per diluted share) for Q1 2022, a 4.9% increase from Q4 2021 and a 57.6% rise from Q1 2021. Key drivers included improved credit quality and strong SBA loan sales, totaling $50.5 million. The return on average assets improved to 1.91%, while return on average equity reached 18.08%. However, net interest income decreased by 2.9% from the previous quarter. The allowance for loan losses was reduced to $13.1 million, representing 1.07% of portfolio loans, signaling enhanced asset quality.
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.
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.
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