OAKLAND, Calif., April 30, 2021 (GLOBE NEWSWIRE) — Bay Community Bancorp, (OTC:CBOBA) (the “Company”), parent company of Community Bank of the Bay, (the “Bank”) a San Francisco Bay Area commercial bank with full-service offices in Oakland, Danville and San Mateo, today announced its Board of Directors declared a quarterly cash dividend of $0.04 per share. The dividend is payable on June 4, 2021 to shareholders of record on May 24, 2021.
“With the consistent operating performance of the Company, the Board of Directors has decided to initiate a regular quarterly cash dividend payment to shareholders,” stated William S. Keller, President and CEO. “This dividend reflects improvement in our earnings, and is a testament to the strength of the core banking activities and financial performance of our franchise.”
“All of us at the Bank recognize and appreciate the support of our loyal shareholders. We are pleased that our financial performance over the last 11 years, during which we grew the bank organically from $70 million to over $750 million in assets, has provided us the opportunity to both begin this dividend program and support our future growth expectations,” added William E. Purcell, Chairman.
About Bay Community Bancorp
Bay Community Bancorp (OTC:CBOBA) is the parent company of Community Bank of the Bay, a San Francisco Bay Area commercial bank with full-service offices in Oakland, Danville and San Mateo. Community Bank of the Bay serves the financial needs of closely held businesses and professional service firms, as well as their owner-operators and non-profit organizations throughout the San Francisco Bay Area. Community Bank of the Bay is a member of the FDIC, an SBA Preferred Lender, and a CDARS depository institution, headquartered in Oakland, with full-service branches in Danville and San Mateo. It is also California’s first FDIC-insured certified Community Development Financial Institution and one of only three operating in the Bay Area. The bank is recognized for establishing the Bay Area Green Fund to provide financing to sustainable businesses and projects and supports environmentally responsible values. Additional information on the bank is available online at www.BankCBB.com.
This release may contain forward-looking statements, such as, among others, statements about plans, expectations and goals concerning growth and improvement. Forward-looking statements are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, including the real estate market in California and other factors beyond the Bank’s control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management’s view only as of the date hereof. The Bank does not undertake, and specifically disclaims, any obligation to update or revise any forward-looking statements, whether to reflect new information, future events, or otherwise, except as required by law.
William S. Keller, President & CEO