Banking Reports

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 …

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 …

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 …

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 …

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 …

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 …