Biden-Harris Administration Announces Historic Preferred Stock Investments; Community Bank of the Bay One of Ten California Financial Institutions to Receive Investment
Oakland, California – September 21, 2022 – Today, Vice President Kamala Harris and US Treasury Secretary Janet L. Yellen announced that the US Treasury Department completed $671 million in preferred stock investments in ten Community Development Financial Institutions (“CDFI”) or Minority Depository Institutions (“MDI”) headquartered in California under the Emergency Capital Investment Program (“ECIP”).
Read more about CBB’s inclusion in the ECIP investments here.
Bay Community Bancorp Announces Share Repurchase
Oakland, California – August 18, 2022 – Bay Community Bancorp, (OTC Pink: CBOBA) (the “Company”), parent company of Community Bank of the Bay, today announced the completion of a repurchase of 280,000 shares of Series A Voting Common Stock at a purchase price of $8.10 per share in a privately negotiated transaction with an institutional investor.
Read more about Community Bancorp’s Announcement here.
Community Bank of the Bay Completes $119.4 Million Capital Raise; US Treasury makes Preferred Stock Investment
Oakland, California – June 7, 2022 – Bay Community Bancorp, (OTC Pink: CBOBA) (the “Company”), announced today that its wholly-owned subsidiary, Community Bank of the Bay, (the “Bank”) a San Francisco Bay Area commercial bank and California’s first FDIC insured Community Development Financial Institution (“CDFI”) with full-service offices in Oakland, Danville and San Mateo, completed a $119.4 million investment from the US Treasury Department.
Read more about our $119.4 Million Capital raise here.
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.