CBB Bancorp, the parent company of Commonwealth Business Bank, announced that James Hong will retire from his roles as President and Chief Executive Officer of both the Company and the Bank, effective April 18, 2025.

“On behalf of the Board of Directors and our stockholders, I would like to thank James Hong for his three years of dedicated service and the significant contributions he has made to the growth and success of CBB Bancorp and CBB Bank,” said Soon Pak, Chairwoman of the Board of the Company and the Bank.

The Company also announced that Richard Koh, currently Executive Vice President and Chief Financial Officer, will be promoted to President and CEO of both the Company and the Bank upon Hong’s retirement.

“Richard Koh brings over 20 years of executive-level experience in the Korean-American banking market, including leadership roles in the Los Angeles area. The Board and I are confident in his ability to continue driving CBB’s growth and profitability, and our Vision,” added Pak.