Core Insights - CVB Financial Corp. has been recognized by Forbes in its seventeenth annual America's Best Banks list, marking the ninth inclusion in the past decade [1][2] - The company has demonstrated strong financial performance and community engagement, being ranked among the Top 50 Public Banks and Top Three Large U.S. Banks by Deposit Franchise in 2025 [2] - Forbes evaluated ten metrics related to credit quality, growth, and profitability for the rankings of the 200 largest publicly-traded banks and thrifts [3] Company Overview - CVB Financial Corp. is the holding company for Citizens Business Bank, with over $15 billion in total assets, making it one of the 10 largest bank holding companies headquartered in California [4] - Citizens Business Bank offers a wide range of banking, lending, and investing services through more than 60 banking centers and three trust office locations in California [4] - The company maintains a Five-Star Superior rating from BauerFinancial and a BBB+ rating from Fitch Ratings, reflecting its financial strength [2]

Core Viewpoint - The proposed sale of Heritage Commerce Corp to CVB Financial Corp is under investigation to assess whether the transaction adequately values Heritage and the process leading to this valuation is appropriate [1]. Group 1: Transaction Details - Heritage Commerce Corp shareholders will receive 0.6500 shares of CVB common stock for each share of Heritage they own as part of the proposed transaction [1]. Group 2: Legal Investigation - Kahn Swick & Foti, LLC is investigating the proposed sale to determine if the consideration offered undervalues Heritage Commerce Corp [1]. - The firm is inviting shareholders who believe the transaction undervalues the company to discuss their legal rights regarding the proposed sale [2].

Adjusted 4th quarter earnings increased 62% year over year due to sustained balance‑sheet growth, NIM expansion and positive operating leverage. Announced strategic merger to expand market presence and enhance long‑term growth opportunities. SAN JOSE, Calif., Jan. 22, 2026 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq: HTBK), (the “Company”), the holding company for Heritage Bank of Commerce (the “Bank”) today announced its financial results for the fourth quarter and year ended December 31, 2025. All ...

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CVB Financial (NasdaqGS:CVBF) Q4 2025 Earnings call January 22, 2026 10:30 AM ET Company ParticipantsE. Allen Nicholson - EVP and CFODavid A. Brager - President and CEOConference Call ParticipantsDavid Feaster - AnalystGary Tenner - AnalystMatthew Clark - AnalystKelly Motta - AnalystAndrew Terrell - AnalystTim Coffey - AnalystOperatorGood morning, ladies and gentlemen, and welcome to the fourth quarter of 2025 CVB Financial Corporation and its subsidiary, Citizens Business Bank, earnings conference call. My ...

CVB Financial (NasdaqGS:CVBF) Q4 2025 Earnings call January 22, 2026 10:30 AM ET Company ParticipantsE. Allen Nicholson - EVP and CFODavid A. Brager - President and CEOConference Call ParticipantsDavid Feaster - AnalystGary Tenner - AnalystMatthew Clark - AnalystKelly Motta - AnalystAndrew Terrell - AnalystTim Coffey - AnalystOperatorGood morning, ladies and gentlemen, and welcome to the fourth quarter of 2025 CVB Financial Corporation and its subsidiary, Citizens Business Bank, earnings conference call. My ...

Financial Data and Key Metrics Changes - For Q4 2025, the company reported net earnings of $55 million or $0.40 per share, an increase from $52.6 million or $0.38 per share in Q3 2025 and $50.9 million or $0.36 per share in Q4 2024 [3][4] - The return on average tangible common equity was 14.4% and return on average assets was 1.40% for Q4 2025 [3] - Pre-tax income increased by $5.4 million quarter-over-quarter and $6.3 million year-over-year [4] Business Line Data and Key Metrics Changes - Net interest income grew by $7 million, or 6%, from Q3 2025 and by $12.2 million, or 11%, from Q4 2024 [4] - Non-interest income was $11.2 million in Q4 2025, which was $1.8 million lower than Q3 2025 and $1.9 million lower than Q4 2024 [5] - Total loans increased to $8.7 billion, a $228 million, or 2.7%, increase from Q3 2025 and a $163 million, or 2%, increase from the end of 2024 [6][7] Market Data and Key Metrics Changes - Average total deposits were $12.6 billion in Q4 2025, compared to $12.5 billion in Q3 2025 [9] - Non-interest-bearing deposits declined by $122 million compared to Q3 2025, while interest-bearing non-maturity deposits grew by $234 million [9][10] - The cost of deposits decreased to 86 basis points in Q4 2025 from 90 basis points in Q3 2025 [10] Company Strategy and Development Direction - The company is focused on maintaining profitability and has a strong commitment to its mission of serving small to medium-sized businesses [96] - The pending merger with Heritage Bank of Commerce is expected to close in Q2 2026, with integration plans already underway [27][66] - The company aims to leverage the merger to enhance its product offerings and expand into new markets [87] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for 2026, citing strong loan pipelines and positive customer sentiment [26] - The economic forecast indicates modest growth, with real GDP expected to remain below 1.5% through 2027 [14] - The company is prepared for competitive pressures in the loan market but remains committed to maintaining credit quality [40] Other Important Information - The company incurred $1.6 million in one-time merger-related expenses during Q4 2025 [17] - The allowance for credit losses was $77 million, or 0.89% of gross loans, reflecting a decrease from the previous quarter [12] - The company repurchased 1.96 million shares at an average price of $18.80 during Q4 2025 [16] Q&A Session Summary Question: Non-interest-bearing deposits and customer behavior - Management indicated that the decline in non-interest-bearing deposits was due to normal seasonality and not a significant behavioral change among customers [22][23] Question: Non-dairy and livestock loan growth sustainability - Management noted that loan pipelines remain strong and expressed optimism about stable loan growth moving forward [24][26] Question: Update on the Heritage Bank deal - Management confirmed that the merger is progressing well and is on track for a Q2 2026 close [27] Question: Competitive landscape for deposits - Management stated that they are winning deposit business primarily from operating companies and are not focused on attracting customers with the highest rates [33][35] Question: Loan modifications and outlook for loan growth - Management explained that loan modifications can occur for various reasons, but the overall impact on the loan portfolio remains minimal [85]

Acquisition Strategy - CVBF plans to acquire Heritage Bank of Commerce, with an estimated closing in Q2 2026[22] - The acquisition is expected to result in a pro forma Return on Average Tangible Common Equity (ROATCE) of 168% in 2027[132] - The acquisition is projected to increase Earnings Per Share (EPS) by approximately 132% in 2027, excluding rate marks[132] - The transaction assumes cost savings of approximately 35% of Heritage Commerce's estimated 2027 operating noninterest expense, which is about $43 million[134] Financial Performance (Q4 2025) - Net income for Q4 2025 was $55044 thousand, with earnings per share (EPS) of $040[33] - The Net Interest Margin (NIM) for Q4 2025 was 349%[33] - The efficiency ratio for Q4 2025 was 463%[33] - The Return on Average Tangible Common Equity (ROATCE) for Q4 2025 was 1441%[33] Balance Sheet (December 31, 2025) - Total assets were $156 billion, with gross loans amounting to $87 billion[14,31] - Total deposits, including repurchase agreements (repos), were $126 billion[14,31] - Total equity was $23 billion[14] - Securities totaled $50 billion, representing 32% of assets[31] - Loans totaled $87 billion, representing 55% of assets[31] Capital Ratios (December 31, 2025) - The Common Equity Tier 1 (CET1) ratio was 159%[32,33] - The Tier 1 Leverage ratio was 116%[32] - The Tangible Common Equity (TCE) ratio was 103%[32,33] Loan Portfolio (December 31, 2025) - Commercial Real Estate (CRE) loans constituted 76% of the loan portfolio[31] - Commercial and Industrial (C&I) loans represented 11% of the loan portfolio[31] - Dairy & Livestock (D&L) and Agribusiness loans accounted for 5% of the loan portfolio[31]

Financial Performance - Net income for Q4 2025 was $55.0 million, up from $52.6 million in Q3 2025 and $50.9 million in Q4 2024, with diluted earnings per share at $0.40[4] - For the full year 2025, net income was $209.3 million, compared to $200.7 million in 2024, with diluted earnings per share at $1.52[6] - Net earnings for the year ended December 31, 2025, were $209,298 thousand, an increase from $200,716 thousand in 2024, reflecting a growth of 4.8%[56] - Net earnings for Q4 2025 reached $55,044,000, up 8.3% compared to $52,586,000 in Q3 2025[66] Income and Expenses - Net interest income for Q4 2025 was $122.7 million, a 6.1% increase from Q3 2025 and an 11.1% increase from Q4 2024[13] - Noninterest income for Q4 2025 was $11.2 million, down from $13.0 million in Q3 2025 and $13.1 million in Q4 2024, including a $2.8 million loss on sale of available-for-sale investments[20][21] - Noninterest expense for Q4 2025 was $62.0 million, an increase of $3.4 million from Q3 2025, with an efficiency ratio of 46.3%[22] - Total noninterest expense for the year ended December 31, 2025, was $237,265 thousand, up from $233,583 thousand in 2024, reflecting a rise of 1.2%[56] Asset and Liability Management - Total assets decreased by $35.2 million, or 0.22%, to $15.63 billion from September 30, 2025, but increased by $477.4 million, or 3.15%, from $15.15 billion at December 31, 2024[25][26] - Total loans and leases increased by $228.3 million, or 2.69%, to $8.70 billion from September 30, 2025, and increased by $162.8 million, or 1.91%, from December 31, 2024[29][30] - Total deposits totaled $12.07 billion at December 31, 2025, representing a net decrease of $12.9 million from September 30, 2025, but an increase of $352.3 million, or 2.89%, from December 31, 2024[35] - Average total deposits and customer repurchase agreements increased by $110 million from the prior quarter[12] Capital and Equity - Total equity increased to $2.30 billion at December 31, 2025, reflecting a rise of $108.9 million from $2.19 billion at December 31, 2024, driven by $209.3 million in net earnings[38] - The tangible book value per share was $11.24 as of December 31, 2025[38] - The book value per share increased to $16.93 as of December 31, 2025, compared to $16.60 in the previous quarter[60] Credit Quality - The allowance for credit losses totaled $77.2 million at December 31, 2025, representing 0.89% of gross loans, down from 0.94% at September 30, 2025[31] - Nonperforming assets decreased to $4.85 million, or 0.03% of total assets, from $28.47 million, or 0.18%, at September 30, 2025[33] - Nonperforming loans decreased to $4,685,000, representing only 0.05% of total loans as of December 31, 2025, down from 0.33% in September 2025[71] Ratios and Returns - Annualized return on average equity (ROAE) for Q4 2025 was 9.48%, while return on average tangible common equity (ROATCE) was 14.41%[5] - Return on average assets (annualized) improved to 1.40% for the quarter ended December 31, 2025, compared to 1.35% in the previous quarter[58] - The Tier 1 leverage capital ratio was 11.6% as of December 31, 2025, remaining well above the minimum required standard of 4.0%[40] Shareholder Actions - The company repurchased 4.3 million shares of common stock in 2025[12] - The company repurchased 4,321,777 shares of common stock at an average price of $18.60, totaling $80.4 million[38] - Cash dividends declared per common share remained stable at $0.20 for both the three months ended December 31, 2025, and September 30, 2025[56] Future Outlook - The company plans to hold a conference call on January 22, 2026, to discuss the fourth quarter 2025 financial results[44]

CVB Financial (CVBF) came out with quarterly earnings of $0.4 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +1.27%. A quarter ago, it was expected that this bank holding company would post earnings of $0.37 per share when it actually produced earnings of $0.38, delivering a surprise of +2.7%.Over the last four quarters, the company has ...