Saturday , February 24 2024

Banking Reports

BofA nears record agreement

Inland Empire news by IE Biz Hub.003

Bank of America Corp. and the Justice Department are close to an agreement in which the bank will pay between $16 million and $17 million to resolve alleged mortgage misconduct by the bank. The bank has also agreed to pay $9 billion in cash to the federal government, various government …

Read More »

Bank purchase boosts CVB earnings

Economy is Shaken by Legal Issues & Industrial.002

CVB Financial Corp., the parent company of Citizens Business Bank in Ontario, has reported a net income of $25.5 million for the second quarter of this year. That was about $1 million more than the second quarter of 2013, a 4.1 percent increase, according to the company’s recent earnings announcement. …

Read More »

State part of nationwide mortgage abuse settlement

Inland Empire news by IE Biz Hub.002

California Attorney General Kamala Harris announced Tuesday that a $550 million settlement has been reached between the state and federal government and SunTrust Mortgage. The three-year settlement, which affects 47 other states, will provide payments to some California residents related to foreclosure and servicing abuses and mortgage origination, according to …

Read More »

Bank merger completed

Inland Empire Braces for Shopping Season.002

Citizens Business Bank’s merger with American Security Bank is now official. The acquisition, which was first announced in February, was concluded last Thursday after all regulatory approvals were completed, according to a Citizens Business Bank statement. “The merger with American Security Bank is an exciting opportunity for Citizens Business Bank …

Read More »

CVB Financial has strong quarter

Inland Empire Business News April 5th.003

CVB Financial Corp. reported record first-quarter earnings this year. The parent company of Ontario-based Citizens Business Bank recorded a net income of $28.7 million for the quarter that ended March 31, up from $21.6 million for the first quarter of 2013, according to a statement released Wednesday. That was a …

Read More »

Fewer bad mortgages in IE

Warehouse Deal Approved As Property Values Drop.001

The Inland Empire’s mortgage crisis continues to ease. The rate of foreclosures on outstanding loans in the two-county region fell nearly one percentage point in January compared with January 2013, according to report originally published in The Press-Enterprise. That was below the national foreclosure rate of 1.97 percent during the …

Read More »