CBB Bank
| Company type | Public |
|---|---|
| Industry | Banking, Financial services |
| Founded | March 9, 2005 in Los Angeles, California, United States |
| Headquarters | Los Angeles , United States |
Area served | California, Texas, Hawaii |
Number of employees | 20 (2005) |
| Parent | CBB Bancorp, Inc. |
CBB Bank is a financial institution in the United States, providing both commercial and personal banking solutions primarily to the Korean-American population in California, Texas, and Hawaii. The bank operates under the ownership of its parent company, CBB Bancorp, Inc.
By 2015, CBB Bank maintained a network of 11 branch locations across California, Texas, and Hawaii, ranking it among the top five Korean-American banks nationwide.
History
Established on March 9, 2005, in Los Angeles, California, Commonwealth Business Bank (CBB Bank) launched with an initial workforce of 20 staff members and capital totaling $23.1 million. Its shares commenced public trading on March 21 of the same year. The bank finalized its TARP CPP Redemption on July 22, 2013, and as of July 31, 2017, reported assets surpassing $1 billion. On September 1, 2017, CBB Bank formed its holding entity, CBB Bancorp.
In February 2021, CBB Bancorp declared the acquisition of Ohana Pacific Bank, headquartered in Honolulu, along with its two branch offices; this deal was concluded by July.
Services
The bank's retail offerings encompass checking accounts, savings accounts, money market accounts, certificates of deposit, and individual retirement accounts (IRAs). Its commercial banking services include business lines of credit, term loans, trade finance options, professional loans, business property financing, commercial real estate lending, construction loans, and Small Business Administration (SBA) loans. Additional amenities provided are debit and credit card services, treasury management solutions, mobile and internet banking platforms, wire transfer capabilities, telephone banking support, safe deposit boxes, and lockbox services.