Latest failures make 17 California banks ordered into emergency receivership this year.
Locally, Citizens Business Bank has repaid its TARP loan. CVB Financial Corporation had accepted $130 million in government cash. At the time, bank president Chris Myers, described it as a hedge against what he termed a “worst-case scenario.”
Nancy Sinclair, of CVB Financial Corporation, says the bank repaid it’s TARP loan in September. CVB Financial Corporation received approval from the government to return $130 million, including interest.
“They’ve pegged us in bad shape, and it’s still tough out there, but we’re doing okay,” said Sinclair.
CVB Financial Corp. is the holding company for Citizens Business Bank. CBB is based in Ontario.
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Saturday, December 19, 2009
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