CVB FINANCIAL CORP

Listed Company

CVBFCIK 0000354647NasdaqLarge AcceleratedState Commercial BanksCaliforniaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$209.30M

Total Assets

$15.63B

Equity

$2.30B

Shares Out

135.80M

Op. Cash Flow

$221.41M

Business

CVB FINANCIAL CORP is a bank holding company that owns and supports Citizens Business Bank and related banking subsidiaries, serving as a source of capital and governance for its banking operations. It offers a broad range of products and services including deposit accounts, commercial and consumer lending (including SBA, real estate, construction, agribusiness, equipment and vehicle financing), treasury management, payment processing, wealth management, trust and investment products. The company reports one operating segment as a community bank and operates a CitizensTrust division for fiduciary and asset management services. CVB distributes its products primarily throughout California through a network of banking centers, trust offices and electronic channels to businesses, professionals and individuals.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans and leases, including fees	446	456	448	389	357
Investment securities available-for-sale	76	81	84	69	38
Investment securities held-to-maturity	51	53	55	49	22
Total investment income	127	134	138	118	60
Dividends from FHLB stock	2	2	2	1	1
Interest-earning deposits with other institutions	18	39	18	7	3
Total interest income	593	630	606	515	421
Deposits	101	105	52	7	5
Borrowings and customer repurchase agreements	30	77	67	2	548,000
Other	1	573,000	—	0	—
Total interest expense	133	183	118	9	—
Net interest income before (recapture of) provision for credit losses	460	447	488	506	415
(Recapture of) provision for credit losses	−4	−3	2	11	−26
Net interest income after (recapture of) provision for credit losses	464	450	486	495	440
BOLI income	11	12	13	5	9
Loss on sale of investment securities	−11	−28	0	0	—
"Gain on Other real estate owned (""OREO""), net"	2	0	0	—	—
Gain on sale leaseback transactions	0	26	0	0	1
Other	15	9	12	8	7
Total noninterest income	55	54	59	50	47
Salaries and employee benefits	144	144	139	132	118
Occupancy and equipment	24	23	22	23	20
Professional services	9	10	9	9	8
Computer software expense	17	15	14	14	12
Marketing and promotion	7	7	7	6	5
Amortization of intangible assets	4	5	6	8	8
Provision for (recapture of) unfunded loan commitments	2	−1	−500,000	—	—
Acquisition related expenses	2	0	0	6	962,000
Other	28	29	33	19	20
Total noninterest expense	237	234	230	217	190
Earnings before income taxes	282	271	315	328	298
Income taxes	72	71	94	93	85
Net earnings	209	201	221	235	213
Unrealized gain on securities and derivatives during the period, before tax	122	16	44	−498	−56
Less: Income tax expense related to items of other comprehensive income	−38	−5	−13	147	17
Other comprehensive income, net of tax	84	12	31	−351	−39
Comprehensive income	294	212	253	−115	173
Basic earnings per common share	1.52	1.44	1.59	1.67	1.57
Diluted earnings per common share	1.52	1.44	1.59	1.67	1.56

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	108	154	171	158	90
Interest-earning balances due from Federal Reserve	269	51	110	45	1,643
Total cash and cash equivalents	376	205	281	203	1,733
Interest-earning balances due from depository institutions	13	480,000	8	10	26
Investment securities available-for-sale, at fair value (with amortized cost of $2,997,047 at December 31, 2024, and $3,398,942 at December 31, 2023)	2,683	2,542	2,956	3,255	3,184
Investment securities held-to-maturity (fair value of $1,925,492 at December 31, 2025, and $1,954,345 at December 31, 2024)	2,270	2,380	2,465	2,554	1,926
Total investment securities	4,953	4,922	5,421	5,810	5,110
Investment in FHLB, FRB, and other stock	56	18	18	28	18
Loans and lease finance receivables	8,699	8,536	8,905	—	—
Allowance for credit losses	77	80	—	—	—
Total loans and lease finance receivables, net	8,622	8,456	8,818	—	—
Premises and equipment, net	27	28	45	47	49
Bank owned life insurance (BOLI)	325	316	309	256	252
Accrued interest receivable	47	46	49	47	34
Intangibles	6	10	15	22	25
Goodwill	766	766	766	766	664
Income tax asset	174	171	164	187	33
Other assets	266	216	127	109	118
Total assets	15,631	15,154	16,021	16,477	15,884
Noninterest-bearing	6,801	7,037	7,206	8,164	8,104
Interest-bearing	5,271	4,911	4,227	4,672	4,872
Total deposits	12,072	11,948	11,434	12,836	12,976
Customer repurchase agreements	491	262	272	565	642
Federal Home Loan Bank advances and other borrowings	500	500	2,070	995	2
Deferred compensation	22	23	22	22	21
Accrued interest payable	5	5	23	433,000	—
Other liabilities	246	229	122	109	110
Total liabilities	13,336	12,967	13,943	14,528	13,802
Commitments and Contingencies	—	—	—	—	—
Common stock, authorized 225,000,000 shares without par; issued and outstanding 135,551,799 at December 31, 2025 and 139,690,086 at December 31, 2024	1,222	1,297	1,289	1,300	1,210
Retained earnings	1,301	1,201	1,113	1,003	876
Accumulated other comprehensive loss, net of tax	−228	−312	−324	−355	−4
Total stockholders' equity	2,295	2,186	2,078	1,949	2,082
Total liabilities and stockholders' equity	15,631	15,154	16,021	16,477	15,884

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and dividends received	602	644	615	513	410
Service charges and other fees received	52	44	44	44	38
Interest paid	−133	−200	−96	−9	−6
Net cash paid to vendors, employees and others	−266	−184	−198	−185	−177
Income taxes paid	−33	−54	−70	−89	−70
Net cash provided by operating activities	221	250	296	274	195
Net change in FHLB, FRB, and other stock	−38	0	10	−5	0
Net change in interest-earning balances from depository institutions	−13	8	1	26	18
Proceeds from repayment of investment securities available-for-sale	310	312	374	423	776
Proceeds from maturity of investment securities available-for-sale	65	66	329,000	90	330,000
Proceeds from sales of available-for-sale securities	93	439	0	0	0
Purchases of investment securities available-for-sale	−484	−419	−46	−1,146	−1,649
Proceeds from repayment and maturity of investment securities held-to-maturity	104	84	75	148	153
Purchases of investment securities held-to-maturity	−6	−11	−2	−659	−1,510
Net (increase) decrease in equity investments	−107	−24	−14	2	−4
Net (increase) decrease in loan and lease finance receivables	−156	353	180	−400	497
Purchase of premises and equipment	−4	−5	−5	−5	−5
Proceeds from sale-leaseback transactions	0	45	0	0	—
Proceeds from redemption of BOLI policies	0	0	68	0	0
Purchase of BOLI policies	0	0	−109	0	−25
Proceeds from BOLI death benefit	3	6	3	11	12
Proceeds from sales of OREO	22	0	0	0	5
Net cash (used in) provided by investing activities	−210	853	536	−1,177	−1,730
Net increase (decrease) in other deposits	120	338	−1,504	−1,219	1,314
Net increase in time deposits	3	177	102	−104	−74
Net (decrease) increase in other borrowings	0	−1,570	1,075	993	−3
Net increase (decrease) in customer repurchase agreements	229	−10	−294	−77	203
Cash dividends on common stock	−111	−112	−112	−104	−98
Repurchase of common stock	−81	−3	−21	−46	−8
Proceeds from exercise of stock options	383,000	565,000	210,000	2	1
Net cash provided by (used in) financing activities	161	−1,179	−754	−626	1,310
Net increase (decrease) in cash and cash equivalents	172	−77	78	−1,529	−226
Gain on sale of OREO	−2	0	0	—	—
Write-down of BOLI	0	0	−4	0	0
Increase in BOLI	−11	−12	−8	−5	−9
Net amortization of premiums and discounts on investment securities	16	17	18	27	32
Accretion of discount for acquired loans, net	−2	−3	−4	−8	—
(Recapture of) provision for credit losses	−4	−3	2	11	−26
Provision for (recapture of) unfunded loan commitments	2	−1	−500,000	—	—
Valuation allowance on OREO	332,000	28,000	0	0	—
Gain on sale leaseback transactions	0	−26	0	0	—
Stock-based compensation	6	10	9	8	5
Depreciation and amortization, net	15	15	18	14	−6
Change in other assets and liabilities	−18	24	44	−4	368,000
Total adjustments	12	49	74	38	−17
Securities matured and not settled	0	0	15	0	0
Transfer of loans to other real estate owned	661,000	19	0	0	443,000
Lease liabilities arising from obtaining right-of-use assets	0	27	0	0	—

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