Chief Executive Officer
Ontario, California, September 18, 2002-CVB Financial Corp. (NASDAQ:CVBF) announced a fourteen-cent ($0.14) per share dividend for the third quarter of 2002. The dividend was approved at the regularly scheduled Board of Directors meeting on September 18, 2002. It will be payable on October 17, 2002, to shareholders of record as of October 2, 2002.
“This is our 52nd consecutive quarterly cash dividend. It reflects the continued superior performance of CVB Financial Corp,” stated D. Linn Wiley, President and Chief Executive Officer of CVB Financial Corp. and Citizens Business Bank. “We are pleased to be able to provide our shareholders with this cash return on their investment.”
CVB Financial Corp. with $2.8 billion in assets operates Citizens Business Bank, the largest bank headquartered in the Southern California Inland Empire region. The Bank’s Wealth Management Group based in Pasadena has nearly $1 billion in assets under administration.
The Company recently completed the acquisition of Western Security Bank and the acquisition of Golden West Financial Services. Western Security Bank was a single unit bank located in the Toluca Lake area of Burbank. They had $149.2 million in total assets, $138.6 million in deposits and $95.4 million in loans at the time the transaction was completed on June 28, 2002. Golden West Financial is a specialty finance company, which provides auto leasing, equipment leasing and real estate loan brokerage services.
Citizens Business Bank specializes in serving business and professional clientele through 32 business financial centers in 25 cities 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. For more information, please visit our website at www.cbbank.com.