Orange National Bancorp

Orange National Bancorp, the Orange-based parent company of Orange National Bank, said net income for the third quarter reached a record $888,849, or 45 cents a share, higher than the $851,553, or 43 cents a share, reported for last year's third quarter. Total assets increased 16% to $264.7 million from $229.1 million.

The parent of Citizens Business Bank in the Inland Empire said it has completed its acquisition of Orange National Bancorp and its principal subsidiary, Orange National Bank, for stock worth about $89 million. Under terms of the deal, Orange National's six branches opened Monday as Citizens Bank branches. The parent holding company is Ontario-based CVB Financial Corp.

The parent of Citizens Business Bank--the largest bank headquartered in the Inland Empire--said Tuesday it plans to expand into south Orange County by purchasing Orange National Bancorp for about $75 million in stock. Under the deal--subject to shareholder and regulatory approval--Orange National's six branches would be converted to Citizens Business Bank branches, according to D. Linn Wiley, chief executive officer at Ontario-based CVB Financial Corp., the holding company for Citizens.

Shareholders of Orange National Bancorp and CVB Financial Corp. approved the proposed merger of the two banks, the companies said Wednesday. The deal is expected to close later this year. Under the terms of the merger, Orange National's six branches will be converted into Citizens Business Bank branches. Citizens is the largest bank headquartered in the Inland Empire.

Orange National Bancorp, parent company of Orange National Bank, reported record net income for the third quarter. The company earned $611,000, or 31 cents a share, nearly 4% higher than the $589,000, or 31 cents a share, for the 1995 third quarter. Net income for the nine months fell 21% to $1.5 million, or 77 cents a share, from $1.9 million, or 97 cents a share. Total assets as of Sept. 30 increased 4% to $220.5 million from $211.2 million.

The parent of Citizens Business Bank in the Inland Empire said it has completed its acquisition of Orange National Bancorp and its principal subsidiary, Orange National Bank, for stock worth about $89 million. Under terms of the deal, Orange National's six branches opened Monday as Citizens Bank branches. The parent holding company is Ontario-based CVB Financial Corp.

Orange National Bancorp, parent company of Orange National Bank, reported net income of $388,000 for the first quarter, up 57% from the $246,000 posted for the comparable 1988 period. Revenue rose 32%, to $3.8 million from $2.9 million.

Orange National Bancorp, parent company of Orange National Bank, said net income for the second quarter rose 12% to a record $967,000, or 48 cents a share, from $861,000, or 44 cents a share, for the same period last year. Total assets increased 15% to $285.6 million from $249.1 million.

Orange National Bancorp's stock rose $2.75, or 9.5%, Wednesday to $31.75, a day after the parent company of Orange National Bank agreed to be acquired by CVB Financial Corp., parent of Citizens Business Bank in the Inland Empire. Orange National's six branches will be converted to branches of Citizens Business, the largest bank headquartered in the Inland Empire.

The parent of Citizens Business Bank--the largest bank headquartered in the Inland Empire--said Tuesday it plans to expand into south Orange County by purchasing Orange National Bancorp for about $75 million in stock. Under the deal--subject to shareholder and regulatory approval--Orange National's six branches would be converted to Citizens Business Bank branches, according to D. Linn Wiley, chief executive officer at Ontario-based CVB Financial Corp., the holding company for Citizens.

Orange National Bancorp: The Orange-based parent of Orange National Bank reported record first-quarter profits of $752,054, or 38 cents a share. A year ago, the six-branch bank posted first-period earnings of $660,000, or 33 cents a share. Total assets increased 16%, to $279.1 million as of March 31, while total loans outstanding grew 10%, to $143.1 million.

Orange National Bancorp, parent company of Orange National Bank, reported net income of $3.3 million, or $1.67 a share, for 1998, up 3% from $3.2 million, or $1.62 a share, for the prior year. Total assets increased 18% to $286.1 million, from $242.3 million.

Directors of Orange National Bancorp, parent of the six-branch Orange National Bank, declared a 50% increase in its quarterly dividend, to 15 cents a share. The payout will be made Dec. 1 to shareholder of record Nov. 12. Chairman San E. Vacarro said the higher dividend reflects the bank's improving financial position. Earlier this month, Orange National reported record third-quarter and nine-month profits.