Citizens Business Bank Explained

Citizens Business Bank
Type:Public
Industry:Banking
Location:Ontario, California, U.S.
Products:Financial services

Citizens Business Bank is a specialty financial institution headquartered in Ontario, California.[1] It was founded as Chino Valley Bank in 1970.[2] CVB Financial Corporation is the holding company for Citizens Business Bank.[3] It has over $14 billion in total assets.[4] The parent company is traded on the NASDAQ as CVBF. David A. Brager serves as president and CEO of the bank.[5]

In 2018, Citizens acquired Pasadena-based Community Bank, which was founded in 1945.[6] [7] [8] In 1995, the company acquired Citizens Commercial Trust and Savings Bank, also of Pasadena.[9] In 1994, the company assumed the operations of the failed Pioneer Bank of Fullerton, California.[10]

As of 2021, the bank had 57 physical locations following a 2019 branch consolidation.[11] Citizens earned the third spot in S&P Global Market Intelligence's 2022 Ranking of U.S. Public Banks by Financial Performance.[12]

Citizens Business Bank is the former name sponsor of the Toyota Arena in Ontario, California.[13]

Notes and References

  1. Web site: banking . James Rufus Koren James Rufus Koren covered . Journal . finance for the Los Angeles Times He previously wrote for the Los Angeles Business . Banking . Where He Covered . manufacturing . Industries . Other . California . for daily newspapers in Southern . Louis . rural Michigan He was raised in St . Iowa . small-town . California . headed west to study at the University of Southern . 2018-02-27 . Local banks Citizens Business, Community to combine into $12-billion institution . 2024-03-24 . Los Angeles Times . en-US.
  2. Web site: 2018-02-27. Local banks Citizens Business, Community to combine into $12-billion institution. 2021-04-21. Los Angeles Times. en-US.
  3. Web site: Christopher Myers is stepping down as the head of CVB Financial Corp. – IE Business Daily. 2021-04-21. en-US.
  4. Web site: Citizens Business Bank Hires President. 2021-04-21. finance.yahoo.com. 12 April 2021 . en-US.
  5. Web site: David A. Brager . 2024-03-23 . Los Angeles Times . en-US.
  6. Web site: 2018-02-27. Local banks Citizens Business, Community to combine into $12-billion institution. 2021-04-21. Los Angeles Times. en-US.
  7. Web site: Swanson. Mirjam. 2018-03-08. Citizens Business Bank to Merge With Community Bank. 2021-04-21. Outlook Newspapers. en-US.
  8. Web site: 2018-08-14. Citizens Business Bank acquires Community Bank, adding 16 branches. 2021-04-21. Orange County Register. en-US.
  9. Web site: 1995-11-06. Chino Valley Bank Near Los Angeles Buying Pasadena Thrift for $18. 2021-04-21. American Banker. en.
  10. Web site: FDIC: Press Releases (PR-42--7-8-94). 2021-04-21. www.fdic.gov.
  11. Web site: UPDATED: CVB Financial to Close 10 Branches Through May Los Angeles Business Journal. 2021-04-21. labusinessjournal.com. 7 February 2019 .
  12. Web site: Clark . Robert . March 28, 2023 . East West Bancorp leads US public banks in 2022 financial performance ranking . S&P Global Market Intelligence.
  13. Web site: De La Cruz. Rene Ray . Citizens Business Bank Arena renamed Toyota Arena. 2021-04-21. vvdailypress.com. en.

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