CBB parent company ranked America's sixth best bank BY SARAH DE CRESCENZO for The Porterville Recorder | 05-Jan-2010
CBB parent company ranked America's sixth best bank
BY SARAH DE CRESCENZO 2010-01-04 19:20:58
The bank holding company for Citizens Business Bank, CVB Financial Corporation, has been named the sixth best bank in the United States as measured by the SNL Financial. The rankings, which include banks with assets ranging from $5.2 billion to $2.3 trillion, were published Dec. 30 by national business publication Forbes magazine. Eight financial measures were used to calculate bank positions on the list. Citizens Business Bank has more than $7 billion in total assets and locations in nine counties in California, including Tulare. Mike MacDonald, manager of the Porterville branch of CBB, attributed the bank's high ranking to a "well disciplined" fiscal atmosphere. "We're just one small part of a big company, but we hope that we do play a part in that [ranking]," he said. "I'm sure we do." MacDonald said one of the ways the Porterville branch contributes to the overall performance of CBB is by avoiding non-performing loans (NPLs). The percentage of NPLs - those that are in default or a close to being so - making up total assets of a bank was one of the financial measures used to rank the banks included in the list. "I'm happy to say I don't have any non-performing loans," MacDonald said. The survey covered the 100 largest banks in America.
