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) is the holding company of Commonwealth Business Bank, which operates as CBB Bank. Company news releases describe CBB Bank as a full-service commercial bank specializing in loans to small-to-medium-sized businesses, with full-service branches in California, Texas, Hawaii, and New Jersey, as well as SBA regional offices and loan production offices in several additional states.
This news page aggregates Business Wire and other coverage of CBB Bancorp’s corporate developments. Readers can find quarterly financial results that detail net income, net interest margin, efficiency ratio, deposit trends, SBA loan sales, allowance for credit losses, and regulatory capital ratios. These earnings updates provide insight into the company’s commercial lending activities, SBA loan sales, and overall balance sheet and capital position.
In addition to earnings, CBB Bancorp regularly issues dividend announcements describing quarterly cash dividends on its common stock, including per-share amounts, record dates, and payment dates. The company also publishes leadership and governance updates, such as the appointment of new Presidents and Chief Executive Officers of both the Company and the Bank, as well as appointments of senior executives including a Chief Credit Officer, Chief Operating Officer, and Chief Financial Officer.
Investors and observers can use this news feed to review changes in executive leadership, dividend decisions, and key financial metrics that CBB Bancorp highlights in its public communications. The articles often reference the Bank’s specialization in small-to-medium-sized business lending and its multi-state branch and office footprint, offering context for the company’s performance and strategic focus.
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.
CBB Bancorp, Inc. (OTCQX: CBBI) reported a net income of $5.3 million for Q1 2021, marking a 43.6% increase from Q4 2020 and a staggering 230.9% from Q1 2020. The net interest income rose 22.4% year-over-year to $12.8 million, driven by loan growth and improved net interest margins at 3.90%. The return on average assets improved to 1.58%, and equity grew to 13.26%. CBB anticipates completing the acquisition of Ohana Pacific Bank later in 2021, pending regulatory approval, bolstering its growth strategy.
CBB Bancorp reported a net income of $3.7 million for Q4 2020, up 28.6% from Q3 2020, with diluted EPS of $0.36. For the year, net income fell 25.6% to $9.9 million, or $0.96 per diluted share. Key metrics included a return on average assets of 1.07% and a net interest margin of 3.48%. The fourth quarter saw a noninterest income increase to $3.4 million, aided by an $894k SBA valuation allowance reversal. Total loans rose by 3.5% quarter-over-quarter, and deposits were stable at $1.10 billion, reflecting a strategic focus on core deposits.
CBB Bancorp has announced its agreement to acquire Ohana Pacific Bank, expanding its footprint to Hawaii. As of September 30, 2020, Ohana had $196.7 million in assets, $151.6 million in loans, and $173.6 million in deposits. Shareholders of Ohana are set to receive $10.25 per share and potentially an additional $0.75 based on the loan performance over 12 months post-merger. Completion is expected in the second half of 2021, pending regulatory and shareholder approvals. CBB anticipates enhanced market presence and stable deposits from this acquisition.