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CVB Financial in Ontario, Calif., will have a new chairman starting Jan. 1.
November 11 -
The Northeast has always been a competitive market for deposit gathering. Loan growth and the potential for rising interests are forcing banks in the region to find new ways to bring in low-cost liquidity.
February 26 -
A proposal to tighten membership requirements for Federal Home Loan Banks could hamper community lenders' ability to assist in affordable housing and community development programs.
December 22
CVB Financial in Ontario, Calif., will take a small hit in the first quarter after repaying a Federal Home Loan Bank advance.
The $7.4 billion-asset company said in a press release late Thursday that it paid back $200 million to the FHLB earlier this week. The advance, set to mature in November 2016, had a 4.52% interest rate.
CVB said the repayment resulted in a $13.4 million termination expense.
The company said it paid using funds from deposits at the Federal Reserve Bank of San Francisco. CVB repaid the advance to deleverage its balance sheet and reduce future funding costs.
