OAKLAND, Calif., April 11, 2023 (GLOBE NEWSWIRE) -- Bay Community Bancorp, (OTCPink: CBOBA) (the “Company”), parent company of Community Bank of the Bay, (the “Bank”) a San Francisco Bay Area commercial bank and certified Community Development Financial Institution (“CDFI”) with full-service offices in Oakland, Danville and San Mateo, today announced that Chief Credit Officer Mukhtar Ali has been promoted to President. With this promotion, Mr. Ali will directly oversee many of the key risk functions of the bank including Credit Administration, Operations, Compliance and Information Technology, and will continue serve on the Bank’s Executive Management and ALCO committees. Mr. Ali currently serves as EVP, Chief Credit Officer, and has been with the bank since 2018.
“Mukhtar has provided excellent leadership and strategic thinking that has positioned the Bank to be a billion-dollar plus community financial institution. Leveraging collective strengths with our team has allowed us to succeed in executing our growth and profitability strategy,” stated William S. Keller, CEO. “Mukhtar’s knowledge of enterprise risk management is exceptional and will continue to be of great value to our Bank as we deploy the proceeds of our recent capital raise.”
Mr. Ali has over 40 years of experience in the banking industry. Prior to joining the Bank, he served as President and Chief Executive Officer at Mission National Bank, a San Francisco, California based CDFI – MDI from 2012 to 2017, and prior to that he was Chief Credit Officer of Oakland-based United Labor Bank. Mr. Ali is a graduate of Pacific Coast Banking School, University of Washington.
“I want to thank the Board and management team for their confidence in me and I look forward to continuing to contribute to the Bank’s success. I am committed to working closely with my peers to build Community Bank of the Bay into a high performing institution while fully delivering on our long held mission of providing true economic opportunity to the communities we serve.”
About Bay Community Bancorp
Bay Community Bancorp (OTCPink: 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 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.
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.
Contacts:
William S. Keller, CEO
510-433-5404
wkeller@BankCBB.com
