PCB Bancorp (the “Company”) (NASDAQ: PCB), the holding company of Pacific City Bank (the “Bank”), announced that on September 30, 2020, the Federal Deposit Insurance Corporation and California Department of Business Oversight terminated the Consent Order issued against the Bank on April 30, 2019. The termination of the Consent Order follows the Bank’s successful resolution of the deficiencies in the Bank’s Bank Secrecy Act and Anti-Money Laundering (“BSA/AML”) compliance program that were the subject of the order.
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