Aug. 15--It's official: The parent of Citizens Business Bank has received regulatory approval to repay the taxpayers' $130 million investment.

Repaying the money from the Treasury Department's Troubled Assets Relief Program will cost Ontario-based CVB Financial Corp. about $4.5 million, plus the cost of buying back warrants, which will be determined over the next few weeks.

The government could have used the warrants to invest more money into CVB, if needed, and would have reaped a huge return on investment.

Almost 25 percent of the company's outstanding shares were being shorted by investors in July, according to President and CEO Chris Myers.

Short sellers essentially put money on the table and bet that a stock's price will drop. If it goes up, they lose money.

CVB shares reached a mid-month low of $5.19 in July. But shares closed Friday at $7.63 -- just three weeks after CVB said it had plans to repay TARP money.

"It sends the message to the investment community that the government feels we can adequately pay them back," Myers said. "It also sends a message to all the short sellers out there."

He said he wouldn't be surprised if the stock's short-seller interest is dropping fast. Data about that won't be released until the end of August.

The Treasury Department purchased the preferred stock with warrants on Dec. 5.

Last month, CVB sold 22.7 million common shares at $5.85 each, generating $132.5

million. The basics

Citizens Business Bank -- owned by CVB Financial Corp. (NasdaqGS: CVBF) -- makes loans on commercial and residential real estate, among other areas. The bank also offers a variety of deposit accounts.

Headquarters:

701 N. Haven Ave.,

Suite 350, Ontario;

(909) 980-4030; www.cbbank.com

On the market

Monday's open: $8.18

Friday's close: $7.63

52-week range: $4.91-$20

Average volume: 1,352,880

Market capitalization: $808 million

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