Chief Executive Officer
Ontario, California, June 19, 2003-CVB Financial Corp. (NASDAQ:CVBF) announced a twelve-cent ($0.12) per share dividend for the second quarter of 2003. The dividend was approved at the regularly scheduled Board of Directors meeting on June 18, 2003. It will be payable on July 17, 2003, to shareholders of record as of July 2, 2003.
“This is our 55th consecutive quarterly cash dividend. It reflects the continued superior performance of CVB Financial Corp,” said D. Linn Wiley, President and Chief Executive Officer. “We are pleased to share our success and recognize our shareholders for their confidence and loyalty.”
CVB Financial Corp. with $3.3 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 over $1 billion in assets under administration.
CVB Financial Corp. recently announced the signing of a definitive agreement and plan of reorganization with Kaweah National Bank. Kaweah National Bank has $90.7 million in assets, $80.0 million in deposits and $70.7 in loans. They are headquartered in Visalia, California, with offices in Tulare, Porterville and McFarland. They expect to complete the transaction in early September 2003.
Citizens Business Bank specializes in serving business and professional clientele through 33 business financial centers in 26 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.
This press release contains statements that constitute forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties. Actual results may differ materially from the results discussed in these forward-looking statements. Factors that might cause such a difference include, but are not limited to, when and if the proposed merger is consummated, failure to obtain requisite regulatory or shareholder approval, expected cost savings from the merger not being fully realized, revenues following the merger being lower than expected and costs related to the integration of CVB Financial Corp. and Kaweah National Bank being greater than expected. In addition, other risks associated with CVB Financial Corp. are detailed in the CVB Financial Corp. reports filed with the Securities and Exchange Commission, including their Annual Report on Form 10K for the year ended
December 31, 2002.