bank with nearly $1 billion of assets. Chino Valley Bank of Ontario, Calif., is acquiring through merger Citizens Commercial Trust and Savings Bank of Pasadena in an $18 million cash deal that will leave Chino Valley with $978 million of assets and 23 offices. "We have been planning to enter the Pasadena market for several years," said D. Linn Wiley, president and chief executive of Chino Valley and its holding company, CVB Financial Corp. In recent months, there has been a flurry of mergers in Southern California, with the pace picking up in many cases because private investors are pumping capital into community banks in the region.
Access to authoritative analysis and perspective and our data-driven report series.
No credit card required. Complete access to articles, breaking news and industry data.
Have an account? Sign In