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BUSINESS
October 5, 1999
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.
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BUSINESS
October 5, 1999
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.
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BUSINESS
October 22, 1987
Orange National Bank reported a $289,000 net income for the third quarter, an 84.1% increase over the $157,000 earned in the same quarter last year. Net income for the first nine months rose 15.2% to $751,000 from $652,000 in the same period last year.
BUSINESS
October 25, 1998
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.
BUSINESS
March 10, 1985 | JOHN O'DELL
A beneficiary of last year's economic upsweep among business borrowers, Orange National Bank posted annual net income of $756,000 for 1984, a 21% increase from the $621,000 in profits reported for the previous year. Bank officials said the resurgance of business borrowing combined with increased revenue from loan fees and interest income to boost Orange National's performance.
BUSINESS
August 12, 1992 | JAMES M. GOMEZ and JAMES S. GRANELLI, TIMES STAFF WRITERS
Orange National Bank said Tuesday that it has completed its acquisition of long-suffering Laguna Bank by paying more than $225,000 to take over its two branches in the bustling South County market. The Laguna Beach institution becomes the fourth community bank based in South County to bow out of that competitive area in the last 10 months. Two banks failed and a third was acquired by Eldorado Bank in Tustin. For Orange National, though, the market is new and the opportunity exciting.
BUSINESS
October 10, 1998 | (Leslie Earnest)
Orange National Bancorp's shares jumped 27% Friday, prompting a telephone inquiry by Nasdaq market officials. The banking company's chief financial officer said he had no explanation for the stock's surge--a $5.75-a-share increase to $26.75. But an industry observer said investors may be responding to news that the company's bank, Orange National Bank, may soon become Orange County's largest independent bank.
BUSINESS
January 15, 1998
Orange National Bancorp, parent company of Orange National Bank, said net income for the fourth quarter reached a record $897,000, or 46 cents a share, a 27% increase from $705,000, or 36 cents a share, for the 1996 fourth quarter. Net income for 1997 advanced 45% to $3.2 million, or $1.62 a share, from $2.2 million, or $1.13 a share, for the previous year. Total assets were up 11% to $242.3 million from $218.5 million.
BUSINESS
October 7, 1997
Orange National Bancorp, the parent company of Orange National Bank, reported record third-quarter net income of $851,553, or 43 cents a share, 39% higher than the $611,000, or 31 cents a share, posted for the 1996 period. Year-to-date net income increased 53% to $2.3 million, or $1.17 a share, from $1.5 million, or 77 cents a share. Total assets rose 4% to $229.1 million from $220.5 million.
BUSINESS
December 7, 1995 | JAMES S. GRANELLI, TIMES STAFF WRITER
Wayne F. Miller, the founding president of Orange National Bank, has taken another step in a long-planned transition by resigning as president and chief executive of the bank's parent company. * Miller, 62, who helped open Orange National in 1979, will remain on the board and will act as a consultant to the bank. His departure, mapped out more than two years ago, removes one of the veteran bankers from the fast-shrinking community banking industry in Orange County.
BUSINESS
February 24, 1995 | James S. Granelli, Times staff writer
Orange National's Chiefs: Wayne F. Miller has given way to Kenneth J. Cosgrove as chief executive of Orange National Bank, completing a transition in top managers that began nearly two years ago. Miller, 61, the bank's founding president, remains as president and chief executive of the holding company, Orange National Bancorp.
BUSINESS
July 10, 1997
Orange National Bancorp, the parent company of Orange National Bank, posted record second-quarter net income of $760,000, or 39 cents a share, 62% higher than the $470,000, or 24 cents a share, reported for the 1996 second quarter. Total assets rose 3% to $218.6 million from $212.1 million.
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