Le Lézard
Classified in: Business
Subject: VEN

Citizens Business Bank Invests $250,000 in Clearinghouse CDFI

LAKE FOREST, Calif., Oct. 17, 2019 /PRNewswire-PRWeb/ -- Clearinghouse Community Development Financial Institution (Clearinghouse CDFI) announced today a $250,000 Class A equity investment from Citizens Business Bank. This investment, when combined with the bank's existing shares, brings Citizens Business Bank into the top 20% of Clearinghouse CDFI investors.

"All of us appreciate the extraordinary work that Clearinghouse CDFI continues to produce," says Christopher D. Myers, President & CEO. "At Citizens Business Bank, we aspire to make a positive impact in the communities we serve. Increasing our investment in Clearinghouse CDFI is an important step for us in achieving our goals."

Clearinghouse CDFI will use this investment to benefit low-income and distressed communities in California. The $250,000 investment will help Clearinghouse CDFI continue financing community facilities, affordable housing, commercial real estate, and other projects that create jobs and services in underserved areas.

"We are proud to have a strong relationship with Citizens Business Bank and are grateful for their expanded investment," said Douglas J. Bystry, President and CEO of Clearinghouse CDFI. "We intend to use these funds to continue bringing positive change to the communities we serve."

Community development projects previously financed by Clearinghouse CDFI include:

Clearinghouse CDFI has funded $1.8 billion in total loans for over 1,860 community projects over the past 23 years. These projects have created or retained more than 20,000 jobs and benefit over 1.8 million individuals. This includes the rehabilitation of more than 18 million square feet of blighted properties. These projects have benefited over 670 separate underserved communities throughout California, Nevada, Arizona, New Mexico and Indian Country.

About CVB Financial Corp: 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 over $11 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 through 58 banking centers and 3 trust office locations serving the Inland Empire, Los Angeles County, Orange County, San Diego County, Ventura County, Santa Barbara County, and the Central Valley area of 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 http://www.cbbank.com and click on the "Investors" tab.

About Clearinghouse Community Development Financial Institution (Clearinghouse CDFI): Clearinghouse Community Development Financial Institution (Clearinghouse CDFI) addresses unmet credit needs in California, Nevada, Arizona, New Mexico, and Indian Country in the Western United States. For over 23 years, Clearinghouse CDFI has helped bridge the gap between conventional lending standards and the needs of low-income and distressed communities. Clearinghouse CDFI is also a B Corp?a certification received from the nonprofit B Lab. B Corps are companies who meet rigorous standards of social and environmental performance, transparency, and accountability, and use business as a force for good. More information is available at: http://www.ccdfi.com.


SOURCE Clearinghouse CDFI

These press releases may also interest you

at 18:52
Argentina's revised debt restructuring offer is a step in the right direction.  However, it falls short of a proposal that can be supported by Argentina's most significant creditors.  Neither the Ad Hoc Bondholder Group nor the Exchange Bondholder...

at 18:48
The acquisition of Share Good LLC by SHARE Omaha moves its proprietary community engagement software into the future of approachable philanthropy. Marjorie Maas, executive director of SHARE Omaha, sees growing demand nationwide to make giving easy...

at 18:46
Alternet Systems, Inc. (USOTC: ALYI) today announced initiating a design and engineering engagement leading to the development of facilities covering approximately 100 acers that will be required to host the intended anchor event at the company's...

at 18:31
Exide Technologies ("Exide" or the "Company"), a global provider of stored energy solutions, today announced that it has entered into a Stock and Asset Purchase Agreement (the "Agreement") to sell substantially all of Exide's ongoing Americas...

at 18:30
Western Alliance Bancorporation announced today that it plans to release its second quarter 2020 financial results after the market closes on Thursday, July 16, 2020. Ken Vecchione, President and CEO and Dale Gibbons, Vice Chairman and CFO will host...

at 18:15
Canadian Utilities Limited The Board of Directors of Canadian Utilities Limited has declared the following quarterly dividends: Shares TSX Stock Symbol Dividend Per Share ($) Record Date  (2020) Payment Date...

News published on 17 october 2019 at 13:30 and distributed by: