For Immediate Release
Contact: D. Linn Wiley, President and Chief Executive Officer
Citizens Business Bank Acquires
Sanwa Trust Accounts
Ontario, California, June 23, 2000-D. Linn Wiley, President and Chief Executive Officer of Citizens Business Bank, announced the acquisition of $35 million in trust assets from Sanwa Bank-California. The assets in the acquisition consisted of seven Taft- Hartley accounts.
"This acquisition reflects the expanding commitment of Citizens Business Bank’s Asset Management Division to work with labor management in the investment and management of their retirement accounts," stated Edwin Pomplun, Executive Vice President and Executive Trust Officer.
The acquisition brings the total trust assets under administration to $1.1 billion. The Trust Department is part of the $1.7 billion Asset Management Division which includes full asset management services, custodial services, employee benefit programs, retirement plans and investment services.
Citizens Business Bank is a $2.0 billion community bank with 30 offices throughout the Inland Empire, Orange County and the San Gabriel Valley. Citizens Business Bank is the largest bank headquartered in Southern California’s Inland Empire Region. It is the principal subsidiary of CVB Financial Corp. CVB Financial Corp. is listed on the American Stock Exchange under the ticker symbol of CVB.