Citizens Business Bank pledges $200,000 for wildfire relief, supporting four local organizations in Los Angeles County.
Quiver AI Summary
Citizens Business Bank, a subsidiary of CVB Financial Corp., has announced a $200,000 commitment to support wildfire relief efforts in Los Angeles County. This funding will be equally divided among four local organizations: Foothill Unity Center, Union Station Homeless Services, Pasadena Community Foundation’s Eaton Fire Relief & Recovery Fund, and the Los Angeles Regional Food Bank. CEO David Brager highlighted the severe impact of the wildfires on the community, emphasizing the Bank’s intention to assist affected families and reinforce communal support. Additionally, the Bank provides resources for emergency assistance related to the wildfires on its website.
Potential Positives
- Citizens Business Bank's commitment of $200,000 to local organizations for wildfire relief demonstrates strong community engagement and corporate social responsibility.
- The donation to reputable organizations helps to alleviate the impact of wildfires on affected families, enhancing the Bank's reputation as a supportive community partner.
- Supporting local organizations can foster goodwill and strengthen relationships with customers and associates, which may contribute to customer loyalty and retention.
- The announcement positions Citizens Business Bank as a proactive entity in addressing community challenges, potentially attracting new customers who value corporate responsibility.
Potential Negatives
- The press release highlights the need for substantial community support due to the ongoing devastation from wildfires, which may suggest vulnerability and potential risks to the bank's customer base and operations in the affected areas.
- The commitment of $200,000 to wildfire relief, while commendable, may raise questions about the bank's financial stability and resource allocation in times of crisis.
- By explicitly linking their donations to the ongoing wildfires, the release could unintentionally underscore the bank's exposure to external crises that might affect its business performance.
FAQ
What is Citizens Business Bank's commitment to wildfire relief?
Citizens Business Bank has committed $200,000 to support local community organizations for wildfire relief in Los Angeles County.
Which organizations received funding from the Bank?
The $200,000 will be distributed among four organizations, each receiving $50,000: Foothill Unity Center, Union Station Homeless Services, Pasadena Community Foundation, and Los Angeles Regional Food Bank.
How is the Bank supporting affected communities?
The Bank aims to help local families impacted by wildfires through donations and by providing emergency assistance resources available on their website.
Who is the CEO of Citizens Business Bank?
David Brager is the President and Chief Executive Officer of Citizens Business Bank.
Where can I find more information about CVB Financial Corp.?
For investor information, visit the Bank's website at www.cbbank.com and navigate to the “Investors” tab.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CVBF Insider Trading Activity
$CVBF insiders have traded $CVBF stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $CVBF stock by insiders over the last 6 months:
- GUERCIO STEPHEN A DEL sold 8,289 shares for an estimated $197,279
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$CVBF Hedge Fund Activity
We have seen 98 institutional investors add shares of $CVBF stock to their portfolio, and 107 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- SILVERCREST ASSET MANAGEMENT GROUP LLC removed 3,210,705 shares (-45.6%) from their portfolio in Q3 2024, for an estimated $57,214,763
- PRINCIPAL FINANCIAL GROUP INC removed 2,304,435 shares (-78.8%) from their portfolio in Q3 2024, for an estimated $41,065,031
- GOLDMAN SACHS GROUP INC added 873,168 shares (+45.5%) to their portfolio in Q3 2024, for an estimated $15,559,853
- SCHRODER INVESTMENT MANAGEMENT GROUP removed 848,543 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $15,121,036
- BALYASNY ASSET MANAGEMENT L.P. added 816,572 shares (+inf%) to their portfolio in Q3 2024, for an estimated $14,551,313
- NUVEEN ASSET MANAGEMENT, LLC removed 620,654 shares (-62.3%) from their portfolio in Q3 2024, for an estimated $11,060,054
- DIMENSIONAL FUND ADVISORS LP added 545,292 shares (+9.7%) to their portfolio in Q3 2024, for an estimated $9,717,103
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Full Release
ONTARIO, Calif., Jan. 21, 2025 (GLOBE NEWSWIRE) -- Citizens Business Bank (the “Bank”), a subsidiary of CVB Financial Corp. (NASDAQ: CVBF), announced today that the Bank has committed $200,000 to local community organizations directed specifically to wildfire relief.
The Bank’s $200,000 donation will be distributed to four organizations in Los Angeles County, with each receiving $50,000. The recipient organizations include Foothill Unity Center, Union Station Homeless Services, Pasadena Community Foundation’s Eaton Fire Relief & Recovery Fund and the Los Angeles Regional Food Bank.
“The wildfires continue to have a devastating impact on Southern California, and many of our customers and associates have been directly affected,” said David Brager, President and Chief Executive Officer of Citizens Business Bank, which operates 21 Business Financial Centers throughout Los Angeles County. “We want to remind our communities that we will get through this together. These donations will be used to support local families that could use the help right now,” said Brager.
A repository of emergency assistance resources for the fires in Los Angeles County is available on the Bank’s website cbbank.com.
Corporate Overview
CVB Financial Corp. (“CVBF”) is the holding company for Citizens Business Bank. CVBF is one of the 10 largest bank holding companies headquartered in California with greater than $15 billion in total assets. Citizens Business Bank is consistently recognized as one of the top performing banks in the nation and offers a wide array of banking, lending and investing services with more than 60 banking centers and three trust office locations serving California.
Shares of CVB Financial Corp. common stock are listed on the NASDAQ under the ticker symbol “CVBF”. For investor information on CVB Financial Corp., visit our Citizens Business Bank website at
www.cbbank.com
and click on the
“Investors” tab
.
Contact:
David A. Brager
President and Chief Executive Officer
(909) 980-4030
