Community Bank Receives Senior Unsecured Debt Rating of BBB+ from Kroll Bond Rating Agency

Pasadena-based Community Bank, a family-owned Southern California regional community bank with assets of $3.5 billion and 17 business centers, has received a Senior Unsecured Debt Rating of BBB+, or stable, from Kroll Bond Rating Agency (KBRA).

KBRA published the ratings Monday, December 19, based on its Global Bank and Bank Holding Company Rating Methodology published in February.

Community Bank was also assigned a BBB+ long-term deposit rating, and a BBB subordinated debt rating, both of which mean stability, according to the KBRA statement. The agency also assigned short-term deposit and short-term debt ratings of K2 for the bank.

“The ratings are supported by Community Bank’s strong asset quality and conservative credit culture, strong core and risk-based capital, consistent and stable earnings and efficiency metrics, and extensive executive experience within the management team and board of directors coupled with a strong emphasis on prudent risk management,” the rating report said.

Bank management officials see the KBRA ratings as a positive development that could spur further growth for Community Bank.

“We believe receiving these ratings from KBRA is a big accomplishment for Community Bank,” David Misch, Community Bank CEO, said. “The Bank has a long history of financial strength and stability which is reflected in the KBRA report.”

Community Bank has assets of $3.5 billion and has branches in 17 locations throughout Southern California.

Founded in 1945, Community Bank utilizes its experience, suite of financial services and unique “Partnership Banking” approach to help its clients grow and succeed.

Community Bank’s corporate offices are at 460 Sierra Madre Villa in Pasadena, with a bank branch at 505 E. Colorado Blvd.

For more information about Community Bank, visit www.cbank.com.