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ONTARIO, Calif. (AP) — CVB Financial Corp. said Friday that it has appointed Ronald Kruse as chairman of the board of CVB Financial Corp. and its banking subsidiary Citizens Business Bank.
Kruse fills the vacancy left by George Borba, a founder of the company, who has died. The company announced his death Tuesday. Borba formed Chino Valley Bank in 1974 with his brother and several other businessmen, which later became Citizens Business Bank.
Citizens Business bank, headquartered in Ontario, Calif., has more than $6.3 billion in assets and operates at sites across the middle and southern regions of the state.
Kruse is a founding director of the bank and has served on the board for 38 years. Prior to his appointment, Ron served as vice chairman of the board. He currently chairs the balance sheet management committee.
He is also chairman of two family businesses, Kruse Investment Co. Inc. and Feed Commodities LLC. He is the former C.E.O. of O.H. Kruse Grain & Milling, one of the largest animal feed manufacturers in the country.
Shares of CVB Financial fell 14 cents to close at $10.85 Friday.