Banking Reports

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 …

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 …

Mission Oaks Bancorp. in Temecula will merge with Santa Rosa-based AltaPacific Bancorp. The transaction, announced earlier this week, is an all-cash arrangement worth an estimated $3.5 million, according to a report that was first published by The Press-Enterprise. The transaction is expected to close during the second quarter. AltaPacifica bought …

CVB Financial Corp., the parent company of Ontario-based Citizens Business Bank Arena, have announced record earnings for 2013. Net income for the year was $95.6 million, or 91 cents per diluted share, the highest in CVB Financial’s history, according to the company’s earnings report for the year, which was released …