LOS ANGELES–(BUSINESS WIRE)–CBB Bancorp, Inc. (“CBB” or the “Company”) (OTCQB: CBBI), the parent
company of Commonwealth Business Bank (the “Bank”), today announced that
J. Duncan Smith has resigned from his position as Chief Financial
Officer, effective February 8, 2019, to pursue other interests.
“We appreciate Duncan’s contributions during his time with us and wish
him well in his future endeavors,” said Joanne Kim, CEO.
ABOUT CBB Bancorp, Inc.
CBB Bancorp, Inc. is the holding company of Commonwealth Business Bank,
a full-service commercial bank which specializes in small-to
medium-sized businesses and does business as “CBB Bank.” The Bank has
eight full service branches in Los Angeles and Orange Counties in
California, and Dallas County in Texas; two SBA regional offices in Los
Angeles and Dallas counties; and six loan production offices in the
states of Texas, Georgia, Colorado, Utah and Washington.
This news release contains a number of forward-looking statements. These
statements may be identified by use of words such as “anticipate,”
“believe,” “continue,” “could,” “estimate,” “expect,” “intend,”
“likely,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,”
“should,” “will,” “would” and similar terms and phrases, including
references to assumptions. Forward-looking statements are based upon
various assumptions and analyses made by the Company in light of
management’s experience and its perception of historical trends, current
conditions and expected future developments, as well as other factors it
believes are appropriate under the circumstances. These statements are
not guaranteeing of future performance and are subject to risks,
uncertainties and other factors (many of which are beyond the Company’s
control) that could cause actual results to differ materially from
future results expressed or implied by such forward-looking statements.
You should not place undue reliance on such statements. Factors that
could affect our results include, without limitation, the following: the
timing and occurrence or non-occurrence of events may be subject to
circumstances beyond the Company’s control; increases in competitive
pressure among financial institutions or from non-financial
institutions; changes in the interest rate environment may reduce
interest margins; changes in deposit flows, loan demand or real estate
values may adversely affect the business of the Company and the Bank;
unanticipated or significant increases in loan losses; changes in
accounting principles, policies or guidelines may cause the Company’s
financial condition to be perceived differently; changes in corporate
and/or individual income tax laws may adversely affect the Company’s
financial condition or results of operations; general economic
conditions, either nationally or locally in some or all areas in which
the Company conducts business, or conditions in the securities markets
or the banking industry may be less favorable than the Company currently
anticipates; legislation or regulatory changes may adversely affect the
Company’s business; technological changes may be more difficult or
expensive than the Company anticipates; there may be failures or
breaches of information technology security systems; success or
consummation of new business initiatives may be more difficult or
expensive than the Company anticipates; or litigation or other matters
before regulatory agencies, whether currently existing or commencing in
the future, may delay the occurrence or non-occurrence of events longer
than the Company anticipates.
For additional information, please go to www.cbb-bank.com.
President & CEO