Community Business Bank Receives Regulatory and Shareholder Approval to Form Bank Holding Company

Community Business Bank (OTCBB:CBBC), announced that it has received all regulatory and shareholder approvals necessary for the reorganization of the Bank and CBBC Bancorp (“Bancorp”), a bank holding company for the Bank. The proposed reorganization is expected to be completed on August 10, 2016 through a share exchange in which the Bank's shareholders will receive one share of common stock of Bancorp in exchange for each share of the Bank's common stock. Shortly after August 10, 2016, Bancorp’s common stock will be quoted upon the OTC Markets under the same symbol “CBBC.”

Chief Executive Officer John DiMichele said, “It is our intention to use the new company to improve shareholder value and provide flexible capital enhancement opportunities for future planning and growth purposes.”

Following the reorganization, the Bank's shareholders will be shareholders of the Bancorp, and Bancorp will be the Bank's parent company. Bancorp is a new corporation which was organized for the sole purpose of forming a bank holding company, and its principal executive officers and directors will be the same as those of the Bank. The Bank will continue to operate as a California bank, be managed by its current Board of Directors and officers, and will continue the same business in which it presently is engaged at its branch offices. Bank shareholders will be soon receiving a letter from Bancorp’s transfer agent as to how they can exchange their share certificates.

Forward-Looking Statements

Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, loan production, competitive pressure in the banking industry, balance sheet management, net interest margin variations, the ability to control costs and expenses, changes in the interest rate environment and financial policies of the United States government and general economic conditions. The Bank disclaims any obligation to update any such factors.

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