Community Bank of the Bay Announces Director and Management Changes

OAKLAND, CA--(Marketwired - Mar 10, 2016) - Community Bank of the Bay (OTCBB: CBYAA), a San Francisco Bay Area commercial bank with full service offices in Oakland and Danville, and two business offices in the Silicon Valley, announced the resignations of outside directors John Hounslow and James Mayer. In addition, in unrelated events, Michael Skubic, President of the East Bay Region and Chief Credit Officer John Barr also tendered their resignations. 

Mr. John "Jack" Hounslow served as a director since June 2013. "Mr. Hounslow brought to our board 40 plus years of senior management and board experience across a wide range of industries, including banking. His knowledge and experience was greatly appreciated by both our management team and fellow board members," stated Chairman, William Purcell.

Mr. James "Jim" Mayer also served as a director since June 2013. During his tenure with the Bank, Mr. Mayer chaired the Directors Loan Committee. "Mr. Mayer's knowledge of overall credit administration and construction lending contributed greatly to our success," noted Mr. Purcell. "Jack's and Jim's years of experience in the Contra Costa County banking market added to our success in the Diablo Valley. In the last three years, our Danville office has grown by over 50% and in 2014, the Bank moved to larger, more visible offices at a landmark location in downtown Danville."

In addition, the Bank is announcing two changes to its senior management team. East Bay Regional President Michael Skubic resigned effective December 31, 2015 after seven years with the Bank. "Mr. Skubic was instrumental in the Bank's successful 2009-2010 capital campaign and his subsequent efforts contributed greatly to the growth of the Bank in both the Oakland and Diablo Valley markets. We appreciate Mike's many positive contributions during his time with us and wish him success in his future endeavors," said William Keller, President & CEO. "At this time the Bank does not expect to continue with the Regional President role going forward."

Chief Credit Officer John Barr tendered his resignation in February to continue his career beyond the Bay Area. "While only with the Bank for eight months, we thank John for his efforts on our behalf and wish him well in his new position in Sacramento," said Mr. Keller. "The Bank is conducting a search for Mr. Barr's replacement and in the interim, the role is being filled by Senior Vice President and Chief Lending Officer, Wilbur Hobbs, who served as the Bank's Chief Credit Officer from 2005 to 2012." 

About Community Bank of the Bay

Community Bank of the Bay (OTCBB: CBYAA) 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 offices in Danville, San Mateo and Campbell, CA. It is also California's first FDIC-insured certified Community Development Financial Institution and one of only three operating in the Northern California market. 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.

Forward-Looking Statements
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.