CVB Financial Corp. Shareholders Approve Merger Agreement.ONTARIO, Calif.--(BUSINESS WIRE)--Aug. 25, 1999-- CVB CVB Convention and Visitors Bureau CVB College Van Bestuur (Dutch: Managing Council) CVB Camper Van Beethoven (band) CVB Common Vision Blox CVB Center for Veterinary Biologics Financial Corp. of Ontario (AMEX AMEX See: American Stock Exchange :CVB) Wednesday announced that its shareholders have approved the terms of the merger of CVB Financial Corp. and Orange National Bancorp. Immediately following the merger of CVB Financial Corp. and Orange National Bancorp, Orange National Bank will merge with Citizens Business Bank. Under the terms of the merger agreement, each share of Orange National Bancorp common stock will be exchanged for 1.5 shares of CVB Financial Corp. common stock. This transaction furthers the strategic plan of CVB Financial Corp. to become the preeminent independent financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company in the Inland Empire In·land Empire A region of the northwest United States between the Cascade Range and the Rocky Mountains, comprising eastern Washington, eastern Oregon, northern Idaho, and western Montana. Farming, lumbering, and mining are important to the area. , Orange County and San Gabriel Valley The San Gabriel Valley is one of the principal valleys of southern California. It lies to the east of the city of Los Angeles, to the north of the Puente Hills, to the south of the San Gabriel Mountains, and to the west of the Inland Empire. areas of California. Citizens Business Bank, the principal subsidiary of CVB Financial Corp., is the largest bank with headquarters in the Inland Empire, and the largest independent bank serving the San Gabriel Valley. It will be the second largest independent bank serving Orange County. The transaction is expected to be completed late in the third quarter or early in the fourth quarter of 1999, subject to all regulatory approvals being obtained. At June 30, 1999, CVB Financial Corp. had approximately $1.6 billion in assets, $1.2 billion in deposits, $716 million in loans and shareholder equity of $118 million. Citizens Business Bank operates 24 branches in Los Angeles, Riverside, San Bernardino and Orange counties. This news release contains statements which constitute forward-looking statements (within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995), that involve risks and uncertainties. Actual results may differ materially from the results discussed in these forward-looking statements. Factors that might cause such a difference include, but are not limited to, failure to receive all regulatory approvals. |
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