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Chino Commercial Bancorp Announces Commencement of Subscription Period for Rights Offering

CHINO, Calif., June 23, 2017 (GLOBE NEWSWIRE) -- Chino Commercial Bancorp (OTC-Pink:CCBC) announced today that it has commenced its previously announced rights offering.  The Company is offering up to 307,883 shares of its common stock on a “best efforts” basis at a purchase price of $15.00 per share, and is distributing non-transferable subscription rights to existing shareholders to purchase all 307,883 of such shares, plus certain “bonus” shares as described further below.  The Company is offering the shares first to existing shareholders pursuant to the subscription rights and a related over-subscription privilege, and then (if any shares remain available) to other interested investors.  While the purchase price in all cases is $15.00 per share, persons exercising subscription rights or over-subscription privileges will receive a bonus equal to five percent (5%) of the number of shares at no additional cost.

The subscription rights and over-subscription privileges will be exercisable until 5:00 p.m. Pacific Time on, July 21, 2017, unless the Company extends the expiration date.  If shares of the Company’s common stock remain available after the expiration of the rights portion of the offering, such shares will be offered to other interested investors on a non-rights basis at the same per share purchase price.  However, investors purchasing shares in the non-rights portion of the offering will not receive any “bonus” shares in connection with their purchases.  The expiration date for non-rights subscribers will be September 21, 2017, unless extended.

Shareholder subscription rights agreements describing each shareholder’s specific subscription rights, together with an offering circular and other information regarding the subscription rights will be mailed to registered shareholders shortly.  Shareholders who hold their shares of Chino Commercial Bancorp common stock through a bank or broker will receive the subscription rights materials from their bank or broker. 

An offering statement relating to these securities was qualified by the Securities and Exchange Commission on June 21, 2017.  The offering circular relating to and describing the terms of the rights offering was filed with the SEC as a part of the offering statement and is available on the SEC's web site at http://www.sec.gov.  Copies of the offering circular and all of the related subscription materials are also available on the Company’s website. Go to www.chinocommercialbank.com, click on “Investor Relations,” then “Stock Offering.”

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.

About Chino Commercial Bancorp

Chino Commercial Bancorp is the parent company of Chino Commercial Bank, a national bank, headquartered in Chino, California which opened for business in September 2000 and currently operates from three full service locations in Chino, Ontario and Rancho Cucamonga, California.  The Bank opened its Ontario branch in January 2006 and the Rancho Cucamonga branch in April 2010.  Chino Commercial Bank is a member of both the Federal Reserve System and the Federal Home Loan Bank, and its deposit accounts are insured under the Federal Deposit Insurance Act up to applicable limits thereof.  For more information, visit www.chinocommercialbank.com.

Cautionary Statement Regarding Forward-Looking Statements

This announcement may contain forward-looking statements made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, including statements regarding our expectations and beliefs regarding our future results or performance.  Because these statements apply to future events, they are subject to risks and uncertainties.  When used in this announcement, the words “anticipate,” “believe,” “estimate,” “expect,” “expectation,” “should,” “would,” ‘project,” “plan,” “predict,” “intend” and similar expressions are intended to identify such forward-looking statements.  Our actual results could differ materially from those projected in the forward-looking statements.  Additionally, you should not consider past results to be an indication of our future performance.  We do not intend to update any of the forward-looking statements after the date of this announcement to conform these statements to actual results, to changes in management’s expectations or otherwise, except as may be required by law.

Contact: Dann H. Bowman, President and CEO or Melinda M. Milincu, Vice President and CFO, Chino Commercial Bancorp and Chino Commercial Bank, N.A., 14245 Pipeline Avenue, Chino, Ca. 91710, (909) 393-8880.

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