LOS ANGELES - CBB Bancorp, Inc. (OTCQX: CBBI), the parent company of Commonwealth Business Bank, announced the addition of James R. Walther to its Board of Directors and to the board of its subsidiary bank, effective August 1, 2024.
James R. Walther brings to the table over four decades of experience in the banking and financial services sector. His career highlights include serving as Senior Counsel at Arnold & Porter Kaye Scholer LLP until his retirement at the end of 2023. Walther's expertise spans across corporate governance, finance, securities, and mergers and acquisitions. His legal prowess has been acknowledged with multiple recognitions including Best Lawyers in Corporate Law, Mergers & Acquisition Law, and Securities/Capital Markets Law from 2006 to 2023. A Stanford University alumnus, Walther earned his J.D. from UCLA in 1972.
Soon Han Pak, Chair of CBB Bancorp and the Bank, expressed enthusiasm about Walther's board membership, citing his extensive knowledge in financial institution regulation, risk management, and financial services as key assets for the Bank's ongoing growth and expansion efforts.
CBB Bancorp operates through its subsidiary, Commonwealth Business Bank, also known as CBB Bank, which caters primarily to small-to-medium-sized businesses. The Bank's network includes eleven full-service branches spread across Los Angeles and Orange Counties in California, Dallas County in Texas, and Honolulu, Hawaii. Additionally, it maintains two SBA regional offices and three loan production offices in Georgia and Washington.
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