This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Citizens Business Bank And American Security Bank Set Closing Date For Proposed Merger

Stocks in this article: CVBF

Citizens Business Bank announced today that the proposed merger with American Security Bank (ASB) is expected to close on Thursday, May 15, 2014.

Citizens Business Bank has received all regulatory approvals for the proposed merger. The combined companies will operate as Citizens Business Bank.

“We are prepared to move ahead with the merger of Citizens Business Bank and American Security Bank and look forward to the opportunity to expand our market presence. We are excited to welcome our new customers and associates to Citizens Business Bank,” said Christopher Myers, President and Chief Executive Officer.

About Citizens Business Bank and American Security Bank

Citizens Business Bank is the largest financial institution headquartered in the Inland Empire region of Southern California with assets of $6.90 billion. Citizens Business Bank serves 39 cities with 37 Business Financial Centers, six Commercial Banking Centers, and three trust office locations serving the Inland Empire, Los Angeles County, Orange County, San Diego County, and the Central Valley areas of California.

Citizens Business Bank’s parent company, CVB Financial Corp. (the “Company”) is listed on the NASDAQ under the ticker symbol of CVBF. For investor information on CVB Financial Corp. and Citizens Business Bank, visit our Citizens Business Bank website at www.cbbank.com and click on the Our Investors tab.

American Security Bank, originally founded in 1990, is headquartered in Newport Beach, CA and operates through five branches, two electronic banking locations, and one loan production office. Assets totaled $412 million at December 31, 2013.

Safe Harbor

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. In some cases, you can identify forward-looking statements by words such as “will likely result”, “aims”, “anticipates”, “believes”, “could”, “estimates”, “expects”, “hopes”, “intends”, “may”, “plans”, “projects”, “seeks”, “should”, “will”, and variations of these words and similar expressions. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those projected. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the risk that integration of American Security Bank’s operations with those of the Citizens Business Bank will be more costly or difficult than expected; the effect of the announcement of the merger on the Citizens Business Bank’s, American Security Bank’s, or the combined companies’ respective customer relationships and operating results; diversion of management’s attention from ongoing business operations and opportunities; the challenges of integrating and retaining key employees; the risk that synergies from the transaction may not be fully realized or may take longer to realize than expected; the failure to satisfy conditions to completion of the merger, including receipt of required regulatory approvals; and the failure of the merger to close for any other reason. Additional factors that may affect future results are contained in the Company’s filings with the SEC, which are available at the SEC’s website ( http://www.sec.gov), including in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, under the heading “Risk Factors.” The Company disclaims any obligation to update and revise statements contained in these materials based on new information or otherwise.

Copyright Business Wire 2010

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs