ONTARIO, Calif.--(BUSINESS WIRE)--
CVB Financial Corp. (NASDAQ:CVBF), the parent company for Citizens Business Bank, was rated the 15th highest performing bank in the United States by U.S. Banker Magazine in the January 2007 issue. The performance rankings were based on third quarter 2006 ROE performance. The source of the data was SNL Financial.
"Naturally, we are pleased with these results," commented Christopher D. Myers, President and Chief Executive Officer of CVB Financial Corp. and Citizens Business Bank. "I believe it reflects the diligence of our Board of Directors and the execution of our plans by our leadership team and the dedicated staff of our Company."
Myers is also featured in the U.S. Banker article as number eight of the Top 10 CEOs. Myers joined the bank in August of 2006 to replace the retiring D. Linn Wiley, who served as President and CEO for 15 years.
Citizens Business Bank also was selected as the Top Business Bank. The criterion for the ranking and the top bank selection was based on return on equity, the equity-to-assets ratio, earnings growth and the change in stock price. As of third quarter CVB Financial has an ROE of 20.88%, net-interest margin of 3.18%, net income of $18.5 million, ROA of 1.24%, an efficiency ratio of 42.40%; and a profit margin of 52.06%.
Citizens Business Bank is a $6.0 billion business bank headquartered in the Inland Empire Region of Southern California. The Bank's Financial Advisory Services Group has approximately $2.8 billion under administration. The Bank is the largest financial institution headquartered in the Inland Empire region of Southern California. It serves 33 cities with 39 business financial centers in the Inland Empire, Los Angeles County, Orange County and the Central Valley areas of California. Shares of CVB Financial Corp. common stock are listed on the NASDAQ under the ticker symbol of CVBF.
Source: CVB Financial Corp.
Contact: CVB Financial Corp. Christopher D. Myers, President and CEO, 909-980-4030