Tuesday, February 11, 2025
spot_img
spot_img
HomeNewsBusiness WireCBB Bancorp Announces Completion of the Acquisition of Ohana Pacific Bank

CBB Bancorp Announces Completion of the Acquisition of Ohana Pacific Bank

LOS ANGELES–(BUSINESS WIRE)–CBB Bancorp, Inc. (OTCQX: CBBI) announced today that it has completed its acquisition of Ohana Pacific Bank (“Ohana”) (OTCPK:OHPB), located in Honolulu, Hawaii. This transaction expands CBB’s presence to Hawaii, where Ohana operates two branches. Ohana Pacific Bank will continue to provide services to its customers in the Hawaiian market, operating as a division of Commonwealth Business Bank (“CBB”).

“We are thrilled to announce the completion of our acquisition of Ohana Pacific Bank and our expansion into the Hawaii markets. We look forward to Ohana providing us with a new source of both core deposit and loan growth under the leadership of James C. Hong, who will remain as President and CEO of Ohana Pacific Bank, a division of CBB. Mr. Hong will also join the executive management team as a Senior Executive Vice President,“ stated Joanne Kim, CBB’s President and Chief Executive Officer.

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, California, and Dallas County, Texas in addition to the two branch locations in Hawaii resulting from the acquisition of Ohana; two SBA regional offices in Los Angeles and Dallas Counties; and five loan production offices in Texas, Georgia, Colorado, and Washington.

For additional information, please go to www.cbb-bank.com.

Contacts

Douglas J Goddard, EVP & CFO

(323) 988-3010

DouglasG@cbb-bank.com

spot_img
RELATED ARTICLES
spot_img
spot_img
spot_img

Caribbean News

Jamaicans urged to adhere to laws where they reside

By Latonya Linton KINGSTON, Jamaica, (JIS) - Jamaicans overseas are being encouraged to adhere to the laws governing the countries where they reside, comes from prime...

Global News

2025 Commonwealth Asia Youth Summit adopts blueprint for youth-led development

A summit for young leaders in Asia has ended with strong recommendations to empower young people and promote their active participation in policymaking. LONDON,...