CVB Financial Corp. announces 10% stock dividend.ONTARIO, Calif.--(BUSINESS WIRE)--Dec. 21, 1995--The board of directors of 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. (AMEX AMEX See: American Stock Exchange :CVB) declared a 10% stock dividend at its board of directors meeting on Dec. 20, 1995. This represents the fifteenth stock dividend in the history of the Company. The decision to declare the 10% stock dividend reflects the continued growth and strong financial performance of CVB Financial Corp. and its principal subsidiary, Chino Valley Bank. It also demonstrates the confidence of the board in the future of the Company. Shareholders of record on Jan. 8, 1996 will receive payment of the dividend on or about Jan. 23, 1996. The board of directors also declared a quarterly cash dividend of $0.08 per share to shareholders of record as of Jan. 5, 1996. Payment of the cash dividend will be made on or about Jan. 23, 1996. This represents the Company's 25th consecutive quarterly cash dividend. CVB Financial Corp. earlier reported net earnings of $8,173,000 for the nine months ending Sept. 30, 1995. This resulted in an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. return on assets Return on assets (ROA) Indicator of profitability. Determined by dividing net income for the past 12 months by total average assets. Result is shown as a percentage. ROA can be decomposed into return on sales (net income/sales) multiplied by asset utilization (sales/assets). of 1.35% and an annualized return on beginning shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. of 17.59%. The recent opening of the High Desert office of Chino Valley Bank has complemented the Company's position through an expanded presence in the High Desert area of the Inland Empire. Chino Valley Bank and Citizens Commercial Trust and Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. of Pasadena have also announced that the two banking companies have executed a definitive agreement and plan of reorganization. The agreement provides for Chino Valley Bank to merge with Citizens Commercial Trust and Savings Bank. Chino Valley Bank will represent the continuing operation. CVB Financial Corp. is the parent company of Chino Valley Bank, the largest bank headquartered in Southern California's Inland Empire region. Shares of CVB Financial Corp.'s common stock are listed on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. under the ticker symbol of CVB. CONTACT: CVB Financial Corp. Robert J. Schurheck, 909/980-4030 |
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