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Local credit union reports solid 2017

Auto loans help local credit union growth

Altura Credit Union reported net income of $10.2 million for 2017, a 30.1 percent year-over-year increase. Riverside-based Altura also reported assets of $1.2 billion for last year, up 4.9 percent compared with 2016, according to its recent year-end financial report. “We are very pleased with Altura’s financial performance in 2017,” …

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CVB Financial reports solid 2017

Ontario-base CVB Financial Corp., the parent company of Citizens Business Bank, had net income of $17.9 million for the fourth quarter of last year. That figure – 16 cents per share – was down from $27.1 million compared with the fourth quarter of 2016, the company announced Wednesday. However, that …

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AltaPacific Bancorp reports strong year

AltaPacific Bancorp had assets of $418.6 million at the end of 2017, a year-over-year increase of 19.1 percent, the financial institution has reported. The company, the parent company of AltaPacific Bank, also reported gross loans of $295.6 million for the year, a 26.8 percent increase compared with the end of …

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Report: IE -based credit unions are doing well

An estimated 16,000 consumers joined an Inland Empire-based credit union during the year that ended Sept. 30, according to data release Monday. Approximately 357,000 people now belong to one of the 23 credit unions headquartered in Riverside and San Bernardino counties, the highest membership since 2010, the Ontario-based California Credit …

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Inland holding company posts another solid quarter

CVB Financial Corp. recently announced a 14-cent per share cash dividend for the fourth quarter of 2017. The dividend, which was approved by the board of directors last month, is expected to be payable on or about Jan. 22, according to a statement. All shareholders of record as of Jan. …

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Bank sells eight branch offices

Flagstar Bancorp Inc. has agreed to buy eight branch offices of Desert Community Bank in San Bernardino County. Cost of the transaction was not disclosed, but the eight branch offices combined have an estimated $600 million in deposits and $70 million in loans, according to a statement. The purchase, which …

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