Business Wire | May 13, 2021 07:45PM EDT

CBB Bancorp Announces Receipt of Regulatory Approvals for Acquisition

May 13, 2021

LOS ANGELES--(BUSINESS WIRE)--May 13, 2021--CBB Bancorp, Inc. ("Company") (OTCQX: CBBI) announced today that it has received all regulatory approvals required to complete its previously announced agreement to acquire Ohana Pacific Bank, located in Honolulu, Hawaii. The Company also announced that the Ohana Pacific Bank stockholders have approved the transaction.

The transaction is expected to be completed in the third quarter of this year, subject to satisfaction of customary closing conditions.

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, Orange, and Dallas Counties; 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.

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CONTACT: Douglas J Goddard, EVP & CFO (323) 988-3010 DouglasG@cbb-bank.com