Community Bank of the Bay Forms Bank Holding Company; Ticker Symbol to Change to CBOBA
Oakland, California – December 7, 2020 – Community Bank of the Bay (the “Bank”) (OTCPink:CBYAA), announced that, after having received all regulatory and shareholder approvals necessary for the reorganization of the Bank into a bank holding company format, that it consummated the reorganization as of December 7, 2020. Effective the close of business on December 7, 2020, Bay Community Bancorp (“Bancorp”) will become the bank holding company for the Bank. Trading of Bay Community Bancorp’s, Series A Voting Common Stock, will begin on Tuesday, December 8, 2020, under the symbol “CBOBA.” The reorganization will be completed through a share exchange in which the Bank’s shareholders will receive one share of common stock of Bay Community Bancorp in exchange for each share of the Bank’s common stock.
Read more about CBB’s holding company here.