Citizens Business Bank

Last updated
Citizens Business Bank
Company type Public
through CVB Financial Corporation
Industry Financial services
Founded1970;55 years ago (1970)
Headquarters
Ontario, California
,
United States
Key people
David A. Brager (president and CEO) [1]
Products Banking services
Parent CVB Financial Corporation
Website www.cbbank.com

Citizens Business Bank is an American bank that specialises in business accounts. The bank is headquartered in Ontario, California. [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.

As of 2021, the bank had 57 physical locations following a 2019 branch consolidation. [5] Citizens earned the third spot in S&P Global Market Intelligence's 2022 Ranking of U.S. Public Banks by Financial Performance. [6]

History

The bank was founded as Chino Valley Bank in 1970. [7]

In 2018, Citizens acquired Pasadena-based Community Bank, which was founded in 1945. [8] [9] [10] In 1995, the company acquired Citizens Commercial Trust and Savings Bank, also of Pasadena. [11] In 1994, the company assumed the operations of the failed Pioneer Bank of Fullerton, California. [12]

Citizens Business Bank was the former name sponsor of the Toyota Arena in Ontario, California between the arena's opening in 2008 and 2019. [13]

References

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