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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, Inc. has announced a quarterly cash dividend of $.08 per common share, payable on November 25, 2022. Stockholders of record as of November 10, 2022 will receive this dividend. CBB Bancorp operates as CBB Bank, providing full-service banking for small to medium-sized businesses across ten branches in California, Texas, and Hawaii, along with additional SBA and loan production offices.
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.
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.