LOS ANGELES--(BUSINESS WIRE)--Commonwealth Business Bank (“CBB” or the “Bank”) (OTCQB: CWBB) today announced that, effective as of September 1, 2017, we completed the formation of our bank holding company, CBB Bancorp, Inc. As a result of the formation of the bank holding company, shares of common stock of Commonwealth Business Bank will be exchanged on a 1-for-1 basis for shares of common stock of CBB Bancorp, Inc. We are working diligently with our exchange agent, Computershare, and other parties to conduct the exchange of shares and promptly list the new CBB Bancorp, Inc. common shares on the OTC. We look forward to the new opportunities that the bank holding company will provide the Bank and its customers and shareholders.
ABOUT COMMONWEALTH BUSINESS BANK (“CBB BANK”)
Commonwealth Business Bank is a full-service commercial bank also doing business as “CBB Bank,” and specializes in small-to medium-sized businesses. CBB has eight full service branches in Los Angeles, Orange, and Dallas Counties and six loan production offices in the states of Colorado, Georgia, Ohio, Texas, and Washington.
For additional information, please visit CBB’s website at www.cbb-bank.com.