The Securities and Exchange Commission wants information about the credit standards at CVB Financial Corp. in Ontario, Calif. The $6.8 billion-asset company disclosed in its quarterly filing on Monday that it received a subpoena from the SEC on July 26.
CVB said the information it will be providing will not be made public, but that the SEC is seeking information on things such as underwriting guidelines, allowance for loan losses and methodology for grading loans. Additionally, it is seeking information about presentations made to analysts, brokers and investors. The firm said it does not know what prompted the subpoena.