ITEM 5: OTHER MATTERS
On July 11, 1995, Connecticut Bank of Commerce (the "Bank"), as
subsidiary of CBC Bancorp, Inc. (the "Company"), received approval
from the Federal Deposit Insurance Corporation for an amendment to
its approved Capital Restoration Plan ("Plan"). The initial Plan
called for a $200,000 capital infusion at December 31, 1994 and a
subsequent $1,000,000 infusion at June 30, 1995. The $200,000 infusion
was completed; however, the second tranche was delayed due to certain
events beyond the Company's control which delayed the effective date of
the registration of the securities intended to be offered to raise the
necessary capital.
The amendment calls for an extension until September 30, 1995 to complete
the securities registration and to raise a minimum of $1,200,000 million
in new capital. The amendment also provides that the Company's majority
shareholder will acquire such number of unsold securities in the offering
as needed to achieve minimum net proceeds of $1,200,000.
Barbara Van Bergen
Vice President
