NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has assigned a senior unsecured debt and deposit rating of BBB+ and short-term debt and deposit ratings of K2, as well as assigned a subordinated debt rating of BBB for Pasadena, California based Community Bank (OTC: CYHT) (“the Bank”). The outlook on all long-term ratings is stable.
The ratings are supported by Community Bank’s strong asset quality and conservative credit culture, strong core and risk-based capital, consistent and stable earnings and efficiency metrics, and extensive executive experience within the management team and board of directors coupled with a strong emphasis on prudent risk management. However, ratings are counterbalanced by the limited diversity in revenue streams, earnings and efficiency metrics that are below that of similar peers within the KBRA rated universe, and limited cohesive duration for executive management, with most executives joining the Bank within the last three years.
The ratings are based on KBRA’s Global Bank and Bank Holding Company Rating Methodology, published on February 19, 2016.
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About Kroll Bond Rating Agency
KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).