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CVB Financial (CVBF) - 2021 Q4 - Annual Report
2022-02-28 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from _______ to _______ Commission file number: 000-10140 CVB FINANCIAL CORP. (Exact name of registrant as specified in its charter) California 95-3629339 (State or other jurisd ...
CVB Financial (CVBF) - 2021 Q4 - Earnings Call Presentation
2022-01-28 03:06
January 2022 cbbank.com Forward Looking Statements This presentation contains forward-looking statements that are intended to be covered by the safe harbor for such statements provided by the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of the management of CVB Financial Corp. and Citizens Business Bank (collectively, the "Company") and are subject to significant risks and uncertainties that could cause actual results or performance to ...
CVB Financial (CVBF) - 2021 Q4 - Earnings Call Transcript
2022-01-27 21:21
CVB Financial Corp. (NASDAQ:CVBF) Q4 2021 Earnings Conference Call January 27, 2022 10:30 AM ET Company Participants Dave Brager – Chief Executive Officer Allen Nicholson – Executive Vice President and Chief Financial Officer Christina Carrabino – Investor Relations Conference Call Participants Matthew Clark – Piper Sandler David Feaster – Raymond James Gary Tenner – D.A. Davidson Kelly Motta – KBW Tim Coffey – Janney Operator Good morning, ladies and gentlemen. And welcome to the Fourth Quarter and Year-en ...
CVB Financial (CVBF) - 2021 Q3 - Quarterly Report
2021-11-08 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 000-10140 CVB FINANCIAL CORP. (Exact name of registrant as specified in its charter) California 95-3629339 (State or o ...
CVB Financial (CVBF) - 2021 Q3 - Earnings Call Transcript
2021-10-21 19:38
CVB Financial Corp. (NASDAQ:CVBF) Q3 2021 Earnings Conference Call October 21, 2021 10:30 AM ET Company Participants Christina Carrabino – Investor Relations Dave Brager – Chief Executive Officer Allen Nicholson – Executive Vice President and Chief Financial Officer Conference Call Participants Brett Rabatin – Hovde Group Gary Tenner – D.A. Davidson Matthew Clark – Piper Sandler David Feaster – Raymond James Operator Good morning, ladies and gentlemen, and welcome to the Third Quarter 2021 CVB Financial Cor ...
CVB Financial (CVBF) - 2021 Q2 - Quarterly Report
2021-08-08 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 000-10140 CVB FINANCIAL CORP. (Exact name of registrant as specified in its charter) California 95-3629339 (State or other ...
CVB Financial (CVBF) - 2021 Q2 - Earnings Call Transcript
2021-07-22 19:40
Financial Data and Key Metrics Changes - The company reported net earnings of $51.2 million for Q2 2021, or $0.38 per share, compared to $63.9 million or $0.47 per share in Q1 2021, and $41.6 million or $0.31 per share in Q2 2020 [7] - The net interest income before recapture or provision for credit losses was $105.4 million for Q2 2021, compared to $103.5 million in Q1 2021 and $104.6 million in Q2 2020 [16] - The tax equivalent net interest margin was 3.06% for Q2 2021, down from 3.18% in Q1 2021 and 3.7% in Q2 2020 [17] Business Line Data and Key Metrics Changes - Total loans decreased by $222 million from the end of Q1 2021, but commercial real estate loans grew by $74 million, or more than 5% annualized [12] - Non-interest income was $10.8 million for Q2 2021, down from $13.7 million in Q1 2021 and $12.2 million in Q2 2020 [20] - Non-interest expense for Q2 was $46.5 million, compared to $47.2 million in Q1 2021 and $46.4 million in Q2 2020 [22] Market Data and Key Metrics Changes - Non-interest bearing deposits were $8.07 billion at the end of Q2 2021, compared to $7.58 billion in Q1 2021 and $6.9 billion in Q2 2020 [10] - Total deposits and customer repurchase agreements increased by $662 million, or 5.3% from Q1 2021, and $1.8 billion, or 15.7% higher than the prior year [10] - The average total deposits for Q2 were $12.9 billion, growing by $682 million or 5.6% from Q1 2021 [11] Company Strategy and Development Direction - The company aims to focus on increasing same-store sales, opening new locations, and finding acquisition opportunities within its geographic footprint [34] - The bank remains committed to its relationship banking model and operating efficiently despite the ongoing impact of the COVID-19 pandemic [31] - The company is actively looking for new talent and opportunities for de novo team pickups due to disruptions at larger banks [43] Management's Comments on Operating Environment and Future Outlook - The management expressed confidence in the recovery of California's economy and the potential for customers to reinvest in their businesses [32] - The ongoing COVID-19 pandemic and low interest rate environment continue to pose challenges, but the bank is well-positioned to succeed [31] - The management noted that the economic forecast includes GDP growth of more than 6% in 2021, with a decline in unemployment rates expected [27] Other Important Information - The allowance for credit losses decreased to $69.3 million, or 0.86% of total loans, reflecting improvements in macroeconomic variables [25] - The company recaptured a provision for credit losses of $21.5 million for the first half of 2021, indicating a recovery from the pandemic's impact [27] - The bank's tangible common equity ratio was 9.2% at the end of Q2 2021, with regulatory capital ratios well above requirements [29] Q&A Session Summary Question: Loan growth and CRE market insights - Management indicated that the growth in commercial real estate (CRE) is broad-based across the footprint and is optimistic about future line utilization rates as businesses reinvest [36][37] Question: Deposit behavior and growth sources - Management noted that approximately 80% of deposit growth is from existing customers, with ongoing opportunities to attract new deposit relationships [40][41] Question: M&A strategy and growth potential - The company is actively looking for M&A opportunities that align with its strategy and is hiring new bankers to support growth [44][46] Question: Impact of drought on agricultural loans - Management acknowledged the drought's impact on costs for agricultural loans and emphasized the importance of water availability in their loan analysis [56][59] Question: Future loan growth and liquidity management - The primary goal remains loan growth, with a focus on quality loans and relationship banking to absorb excess liquidity [62]
CVB Financial (CVBF) - 2021 Q2 - Earnings Call Presentation
2021-07-22 15:29
July 2021 cbbank.com Forward Looking Statements Certain matters set forth herein (including the exhibits hereto) constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including forward-looking statements relating to the Company's current business plans and expectations and our future financial position and operating results. Words such as "will likely result", "aims", "anticipates", "believes", "could", "estimates", "expects", "hopes", "intends", " ...
CVB Financial (CVBF) - 2021 Q1 - Quarterly Report
2021-05-09 16:00
Table of Contents Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 000-10140 CVB FINANCIAL CORP. (Exact name of registrant as specified in its charte ...
CVB Financial (CVBF) - 2021 Q1 - Earnings Call Transcript
2021-04-23 05:08
CVB Financial Corp. (NASDAQ:CVBF) Q1 2021 Earnings Conference Call April 22, 2021 10:30 AM ET Company Participants Christina Carrabino - Investor Relations Dave Brager - Chief Executive Officer Allen Nicholson - Executive Vice President and Chief Financial Officer Conference Call Participants Brett Rabatin - Hovde Group Jackie Bohlen - KBW Matthew Clark - Piper Sandler David Feaster - Raymond James Operator Good morning, ladies and gentlemen, and welcome to the First Quarter of 2021 CVB Financial Corporatio ...