IRVINE, CALIF. (May 14, 2018) – CBC Bancorp, the parent company of Commercial Bank of California (“CBC”) has completed an internal corporate reorganization. As a result of this process, ownership of CBC Bancorp is now held by a limited number of private investors and its shares will no longer be publicly traded.
Ash Patel, President and Chief Executive Officer of CBC Bancorp stated: “The banking industry is experiencing a period of increasing concentration. Banks are being acquired at a rapid pace, and each such acquisition results in the disruption of long-standing banking relationships for the customers of the acquired institution. We invite customers and employees of other banks to experience the CBC difference, the security of knowing that your bank is privately held and not for sale.”