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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 …

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Fewer bad mortgages in IE

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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 …

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State reaches settlement with mortgage company

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California announced this week that it has reached a settlement with Ocwen Financial and Ocwen Loan Servicing in connecting with Ocwen’s violation of loan servicing laws. The settlement requires $2 billion worth of loan modifications for homeowners whose mortgages are being handled by Ocwen if those mortgages are in default …

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New leadership for CVB Financial

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Ronald O. Kruse has stepped down as chairman of CVB Financial Corp., the holding company for Citizens Business Bank. Kruse announced his retirement Wednesday, effective immediately. He will also resign his place on CVB Financial’s Board of Directors at the conclusion of the company’s annual shareholder’s meeting May 22, according …

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Local bank receives 5 stars

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Chino Commercial Bank, a subsidiary of Chino Commercial Bancorp, was recognized by Bauer Financial with their highest rating of “5- Stars” for the most recent financial performance according to a news release. “We are very honored to receive this award, but more importantly, we are pleased with the positive results …

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CVB Financial merges with Orange County-based bank

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CVB Financial Corp., the parent company of Citizens Business Bank, has agreed to purchase American Bancshares in Newport Beach. The transaction, which was announced Tuesday, is worth $57 million, according to a statement. CVB Financial is based in Ontario and is the largest financial institution in the Inland Empire. It …

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