CVB Can't Cover Payments
CVB Financial Corp. states that the bank’s largest borrower can’t make payments, increasing bad loans up by about $48 million. CVB states “Recently, our single largest borrower informed us that they were not able to make principal and interest payments on their loans as scheduled and wanted to negotiate an alternative repayment schedule.” CVB’s largest borrower has seven loans totaling roughly $82 million.
CVB is being investigated by the SEC troubled loans.
Read more at In The Money Stocks
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