CBB Bank Announces Leadership Transition

LOS ANGELES--(BUSINESS WIRE)--CBB Bancorp, Inc. (“CBB” or the “Company”) (OTCQX: CBBI), the parent company of Commonwealth Business Bank (the “Bank”), today announced that Mr. James Hong will retire from his roles as President and Chief Executive Officer of both the Company and the Bank, effective April 18, 2025.

“On behalf of the Board of Directors and our stockholders, I would like to thank James Hong for his three years of dedicated service and the significant contributions he has made to the growth and success of CBB Bancorp and CBB Bank,” said Soon Pak, Chairwoman of the Board of the Company and the Bank.

The Company also announced that Mr. Richard Koh, currently Executive Vice President and Chief Financial Officer, will be promoted to President and Chief Executive Officer of both the Company and the Bank upon Mr. Hong’s retirement.

“Richard Koh brings over twenty years of executive-level experience in the Korean-American banking market, including leadership roles in the Los Angeles area. The Board and I are confident in his ability to continue driving CBB’s growth and profitability, and our Vision,” added Chairwoman Soon Pak.

About CBB Bancorp, Inc.

CBB Bancorp, Inc. is the holding company of Commonwealth Business Bank, a full-service commercial bank specializing in serving small to medium-sized businesses, operating under the name “CBB Bank.” The Bank operates twelve full-service branch offices in Los Angeles and Orange Counties, California; Dallas County, Texas; Honolulu, Hawaii; and Bergen County, New Jersey, as well as loan production offices in Georgia and Washington.