Bank Statement in Response to Silicon Valley Bank Event
Dear Valued Customer,
We understand that the unfortunate banking industry news from the past few days might cause concern for you. CBB has been following our initial intention on running a community bank to provide the fundamental financial services needed in the community without involving ourselves in fancy, derivative financial activities.
CBB has also steadily improved its bank operations results for the past few years. The 2022 annual net income of $1.57 million (unaudited) was improved from 2021 annual net income of $332,000, and the first two months of 2023 year-to-date net income improved 194% from the same period of 2022.
CBB board and management intend to strongly uphold the commitment to run a community bank with integrity and honor. We appreciate that you continue to choose CBB to serve your banking need.
California Business Bank