Kroll Bond Rating Agency Assigns BBB+ and K2 Senior Unsecured & Short-Term Debt Ratings for Community Bank

NEW YORK--()--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.

To view the report click here.

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).

Contacts

Kroll Bond Rating Agency
Analytical Contacts:
M Scott Durant, 301-969-3248
Associate Director
sdurant@kbra.com
or
Joseph Scott, 646-731-2438
Managing Director
jscott@kbra.com
or
Christopher Whalen, 646-731-2366
Senior Managing Director
cwhalen@kbra.com
or
Follow us on Twitter!
@KrollBondRating

Contacts

Kroll Bond Rating Agency
Analytical Contacts:
M Scott Durant, 301-969-3248
Associate Director
sdurant@kbra.com
or
Joseph Scott, 646-731-2438
Managing Director
jscott@kbra.com
or
Christopher Whalen, 646-731-2366
Senior Managing Director
cwhalen@kbra.com
or
Follow us on Twitter!
@KrollBondRating