Daniel Cho
About Daniel Cho
Daniel Cho, age 60, is an independent director of PCB Bancorp (holding company) since May 2020 and has served on the subsidiary PCB Bank board since April 2017. He is a BSA/AML and fintech subject-matter expert, founder of Banker’s Toolbox (BSA/AML software; founded 2000, sold 2015), and currently CEO of Maya Tech (since August 2016). He holds a B.A. in Economics from UC Berkeley. The Board affirms his independence under Nasdaq/SEC rules.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Banker’s Toolbox | Founder; built BSA/AML software serving 750+ banks/CUs | 2000–2015 (sold 2015) | Scaled AML compliance solutions; informs PCB’s compliance oversight |
| Various banks | SBA Loan Manager; IT Manager | 12 years (prior to 2000) | Direct banking ops/technology experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Maya Tech | Chief Executive Officer | Aug 2016–present | Fintech leadership; complements BSA/AML expertise |
| Public company directorships | — | — | None of PCB’s directors serve on other public company boards |
Board Governance
- Committee assignments (Holding Company): Audit Committee member; not on Compensation or Nominating & Governance Committees. Audit Committee held 9 meetings in 2024.
- Subsidiary (PCB Bank) roles: Chair of the Bank’s Risk and Compliance Committee (additional $1,000 monthly retainer).
- Independence: Board determined Daniel Cho is independent. The Board has an independent Chair separate from the CEO.
- Attendance: In 2024 there were 4 regular and 2 special Board meetings; each director standing for re-election attended at least 75% of aggregate Board and committee meetings; all but one director attended the 2024 annual meeting.
- Governance processes: Related-party transactions are overseen by the Audit Committee; none meeting disclosure thresholds occurred in 2024. Hedging of company stock is prohibited by the Code of Ethics and Business Conduct.
Fixed Compensation
| Component (Director) | 2024 Amount | Notes |
|---|---|---|
| Fees Earned (cash) | $114,000 | Total director compensation for Daniel Cho in 2024 (no equity) |
| Bank Board monthly retainer (non-employee directors) | $8,000 | Chairman of the Bank Board: $9,500/month |
| Director’s Loan Committee monthly retainer (if applicable) | $500 | Applies only to directors serving on that committee |
| Chair, Bank Risk & Compliance Committee monthly retainer | $1,000 | Daniel Cho is the Chair |
- Mix: 100% cash for directors in 2024; no equity awards were granted to non-employee directors.
Performance Compensation
| Performance-tied Element | Status/Details |
|---|---|
| Equity awards to non-employee directors | None in 2024 (no RSUs/options granted to directors) |
| Performance metrics tied to director pay | Not disclosed/not applicable for directors (director pay is retainer/fee-based) |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Other public company boards | None among PCB directors (reduces overboarding/interlock risk) |
| Private company roles | CEO, Maya Tech (since Aug 2016) |
| Interlocks with competitors/customers/suppliers | None disclosed; Audit Committee reviews related-party matters; no transactions meeting disclosure thresholds in 2024 |
Expertise & Qualifications
- BSA/AML compliance expert and fintech entrepreneur; prior banking operations and IT management experience.
- Audit Committee member; Board-designated Audit Committee members meet independence/financial literacy standards.
- Education: B.A., Economics, University of California, Berkeley.
Equity Ownership
| Ownership Detail | Amount | Notes |
|---|---|---|
| Common stock owned | 98,000 shares | Held jointly with spouse |
| Options exercisable within 60 days | 6,930 | Included in beneficial ownership |
| Total beneficial ownership | 104,930 | As defined by SEC rules |
| Percent of shares outstanding | <1% | Marked “**” (<1%) in proxy table |
| Hedging/Pledging | Hedging prohibited by Code; pledging not specified | Code bars hedging (puts, calls, short sales) |
Governance Assessment
-
Strengths
- Independence affirmed; no other public board seats; Audit Committee service; chairing the Bank’s Risk & Compliance Committee aligns with his BSA/AML expertise.
- Attendance at or above 75% threshold; Board and Audit Committee active (six Board meetings; nine Audit meetings in 2024).
- No related-party transactions requiring disclosure in 2024; Code prohibits hedging; independent Board Chair structure.
-
Watch items
- Director compensation is all-cash (no annual equity retainer), which may modestly weaken ownership alignment compared to peer practices; however, he holds 98,000 shares plus options, providing some alignment.
- Director stock ownership guidelines are not specified in the proxy; alignment policy for directors cannot be assessed from this document alone.
-
Red flags observed
- None identified in filings for 2024 regarding related-party transactions, legal proceedings, or compensation committee interlocks.