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O’Brien steps down as CVB Financial, CBB board chairs

Raymond V. O’Brien III has resigned as board chairman of CVB Financial Corp. and Citizens Business Bank, its principal subsidiary.

O’Brien stepped down May 18, according to a statement released by Ontario-based Citizens Business Bank.

Hal W. Oswalt, has assumed both chairmanships. A director on both boards since 2014, Oswalt is a former president, director and chief executive officer of several community banks.

“During the past seven-plus years, Ray O’Brien has served as only the fourth chairman in Citizens Business Bank’s 48-year history,” Oswalt said in the statement. “Ray has demonstrated exemplary leadership while helping our bank to consummate five significant acquisitions, cross the $10 billion asset threshold, and transition to a new chief executive officer in 2020.”

O’Brien served as a director on both boards since 2012, and was appointed chairman of each in 2014. He is owner and chief executive officer of Cal Plate, Inc  in Artesia, one of the largest prepress/plate manufacturers on the west coast.

O’Brien will serve chairman of Citizens Business Bank’s credit committee, having been elected to that position during the bank’s recent organizational meeting, according to the statement.

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