CVB Financial in Ontario, Calif., will have a new chairman starting Jan. 1.
D. Linn Wiley will retire as chairman of the board at yearend. The $7.4 billion-asset company will elevate its vice chairman, Raymond O'Brien III, to be Wiley's successor.
Wiley served as president and chief executive for 15 years starting in 1991. Wiley was vice chairman of the board from 2006 to 2013 before being promoted to chairman following the retirement of Ronald Kruse.
"Linn Wiley has been instrumental to the growth and success of our company for the past 23 years and has been a pillar of the California banking industry for five decades," Christopher Myers, president and chief executive of CVB Financial, said in a press release Monday.
O'Brien is currently the chief executive and owner of Cal Plate, a printing plate manufacturer in Artesia, Calif. He has been on the CVB board for two years and was a former banker at Chase Manhattan Bank and 1st Business Bank. O'Brien also served as a director of American Business Bank for 14 years.
CVB is the holding company for Citizens Business Bank which operates 40 branches, six commercial offices and three trust offices in 42 California cities.