Financial Data and Key Metrics Changes - The company reported its financial results for Q4 2024, with specific metrics discussed during the call [3][4]. Business Line Data and Key Metrics Changes - Detailed performance across various business lines was not provided in the available content [4]. Market Data and Key Metrics Changes - Specific market data and key metrics were not disclosed in the provided excerpts [4]. Company Strategy and Development Direction and Industry Competition - The company emphasized the importance of understanding risks and uncertainties that may affect future performance, as outlined in their annual report [4]. Management's Comments on Operating Environment and Future Outlook - Management highlighted the need for awareness of potential risks that could lead to actual results differing from forward-looking statements [4]. Other Important Information - The call included a disclaimer regarding the safe harbor provisions under the Private Securities Litigation Reform Act of 1995 [4]. Q&A Session All Questions and Answers Question: Inquiry about financial performance details - Specific questions regarding financial performance were raised, but detailed responses were not included in the provided content [4].

Financial Performance - Net income for Q4 2024 was $50.9 million, a decrease of 0.6% from Q3 2024 ($51.2 million) and an increase of 5.0% from Q4 2023 ($48.5 million) [2] - Diluted earnings per share for Q4 2024 were $0.36, compared to $0.37 in Q3 2024 and $0.35 in Q4 2023 [2] - For the full year 2024, net income was $200.7 million, down 9.4% from $221.4 million in 2023, with diluted earnings per share decreasing from $1.59 to $1.44 [4] - Net earnings for the three months ended December 31, 2024, were $50,858,000, a decrease of 0.7% from $51,224,000 in the previous quarter [66] - Basic earnings per common share for the three months ended December 31, 2024, were $0.36, unchanged from the previous quarter [66] Income and Expenses - Net interest income for Q4 2024 was $110.4 million, a decrease of 2.82% from Q3 2024 and a decrease of 7.49% from Q4 2023 [9] - Noninterest income for Q4 2024 was $13.1 million, up from $12.8 million in Q3 2024 but down from $19.2 million in Q4 2023, with a pre-tax net gain of $16.8 million from sale-leaseback transactions [22] - Noninterest expense for Q4 2024 was $58.5 million, a decrease from $58.8 million in Q3 2024 and $65.9 million in Q4 2023 [24] - Total noninterest expense was $58,480,000 for the three months ended December 31, 2024, a decrease of 0.6% from $58,835,000 in the previous quarter [66] Asset and Liability Management - Total assets decreased by $249.6 million, or 1.62%, from $15.4 billion at September 30, 2024, to $15.1 billion at December 31, 2024 [27] - Total loans and leases at amortized cost decreased by $36.1 million, or 0.42%, from September 30, 2024, primarily due to decreases in commercial real estate loans [37] - Total deposits and customer repurchase agreements increased by $150.5 million compared to Q3 2024 and by $115.3 million from Q4 2023 [17] - Total liabilities decreased to $12,967,339 thousand from $13,943,021 thousand, a reduction of approximately 7.0% year-over-year [62] Capital and Equity - The Company's total equity increased by $108.34 million to $2.19 billion at December 31, 2024, with a tangible book value per share of $10.10 [47] - The Tier 1 leverage capital ratio was 11.5% at December 31, 2024, above the minimum required of 4.0% [49] - The common equity Tier 1 capital ratio increased to 16.2% in Q4 2024, compared to 14.6% in Q4 2023, reflecting enhanced financial stability [76] - Stockholders' equity rose to $2,498,380 thousand, up from $2,401,541 thousand a year ago, indicating an increase of about 4.0% [62] Credit Quality - The allowance for credit losses (ACL) was $80.1 million at December 31, 2024, representing 0.94% of total loans, down from 0.97% at September 30, 2024 [39] - Total nonperforming assets decreased from $53.3 million at September 30, 2024, to $47.6 million at December 31, 2024 [42] - Total nonperforming loans increased to $27,795 thousand as of December 31, 2024, up from $21,302 thousand a year earlier, representing a rise of 30.5% [74] - The percentage of total loans classified as nonperforming rose to 0.33% in Q4 2024, compared to 0.24% in Q4 2023 [74] Market Activity - The company announced a $10 million share repurchase program [10] - The Company authorized a new 10 million share stock repurchase program during Q4 2024, although no repurchases occurred in that quarter [47] - The high stock price for Q4 2024 reached $24.58, compared to a high of $21.77 in Q3 2024 [70]

Core Insights - CVB Financial reported revenue of $123.52 million for Q4 2024, a year-over-year decline of 10.8% and below the Zacks Consensus Estimate of $128.07 million, resulting in a surprise of -3.55% [1] - The company's EPS for the same period was $0.36, down from $0.39 a year ago, but exceeded the consensus estimate of $0.34, delivering a surprise of +5.88% [1] Financial Performance Metrics - Net Interest Margin was reported at 3.2%, slightly above the average estimate of 3.1% from four analysts [4] - The Efficiency Ratio stood at 47.3%, compared to the average estimate of 46.5% from four analysts [4] - Total interest-earning assets amounted to $13.96 billion, below the average estimate of $14.20 billion from three analysts [4] - Net Charge-off as a percentage of Average Loans was 0%, better than the average estimate of 0.1% from two analysts [4] - Total NonPerforming Loans were reported at $27.80 million, significantly lower than the average estimate of $35.88 million from two analysts [4] - Total NonPerforming Assets reached $47.10 million, higher than the average estimate of $38.50 million from two analysts [4] - Net Interest Income was $110.42 million, below the average estimate of $112.27 million from four analysts [4] - Total Noninterest Income was $13.10 million, also below the average estimate of $15.21 million from four analysts [4] - Net Interest Income (FTE) was reported at $110.95 million, slightly below the average estimate of $111.96 million from three analysts [4] - Service Charges on Deposit Accounts were $5.10 million, in line with the average estimate of $5.11 million from two analysts [4] - Trust and Investment Services generated $3.51 million, below the average estimate of $3.82 million from two analysts [4] Stock Performance - Over the past month, shares of CVB Financial have returned -5.6%, contrasting with the Zacks S&P 500 composite's +2.1% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

CVB Financial (CVBF) came out with quarterly earnings of $0.36 per share, beating the Zacks Consensus Estimate of $0.34 per share. This compares to earnings of $0.39 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.88%. A quarter ago, it was expected that this bank holding company would post earnings of $0.35 per share when it actually produced earnings of $0.37, delivering a surprise of 5.71%.Over the last four quarters, the ...

Fourth Quarter 2024 Net Earnings of $51 million, or $0.36 per share Return on Average Assets of 1.30%Net Interest Margin of 3.18% Full Year 2024 Net Earnings of $201 million, or $1.44 per share Return on Average Tangible Common Equity of 14.95% Ontario, CA, Jan. 22, 2025 (GLOBE NEWSWIRE) -- CVB Financial Corp. (NASDAQ:CVBF) and its subsidiary, Citizens Business Bank (the "Company"), announced earnings for the quarter and the year ended December 31, 2024. CVB Financial Corp. reported net income of $50.9 mi ...

Corporate Donation and Community Support - Citizens Business Bank has committed $200,000 to local community organizations for wildfire relief in Los Angeles County [1] - The donation will be distributed equally among four organizations, each receiving $50,000 [2] - The recipient organizations include Foothill Unity Center, Union Station Homeless Services, Pasadena Community Foundation's Eaton Fire Relief & Recovery Fund, and the Los Angeles Regional Food Bank [2] - The Bank's President and CEO emphasized the devastating impact of wildfires on Southern California and the need for community support [3] Corporate Overview - CVB Financial Corp is the holding company for Citizens Business Bank and is one of the 10 largest bank holding companies headquartered in California [5] - CVB Financial Corp has total assets exceeding $15 billion [5] - Citizens Business Bank operates more than 60 banking centers and three trust office locations across California [5] - The Bank is recognized as one of the top-performing banks in the nation, offering a wide range of banking, lending, and investing services [5] Investor Information - Shares of CVB Financial Corp are listed on NASDAQ under the ticker symbol "CVBF" [6] - Investor information is available on the Citizens Business Bank website under the "Investors" tab [6]

Ontario, CA, Dec. 16, 2024 (GLOBE NEWSWIRE) -- CVB Financial Corp. (NASDAQ:CVBF) (the "Company") announced a twenty cent ($0.20) per share cash dividend with respect to the fourth quarter of 2024. This dividend was approved at the Company's regularly scheduled Board of Directors meeting held on December 16, 2024. The quarterly dividend will be payable on or about January 15, 2025 to shareholders of record as of December 31, 2024. "We are pleased to announce our 141st consecutive quarterly cash dividend paid ...

CVB Financial Corp. (CVBF) authorized a share buyback plan of 10 million shares of the company’s common stock under the 2024 Repurchase Program. This authorization replaces CVBF’s previous share repurchase program from 2022, which had the same authorization amount. As of Sept. 30, 2024, 4.3 million shares remained available for repurchase. David A. Brager, president and CEO of CVBF, said, “The approval of this share repurchase program reflects our robust capital position, consistent track record of producin ...

Ontario, CA, Nov. 21, 2024 (GLOBE NEWSWIRE) -- CVB Financial Corp. (NASDAQ:CVBF) announced that, at its regular meeting on November 20, 2024, the Board of Directors of CVB Financial Corp. (the “Company”), the holding company for Citizens Business Bank, authorized the Company to repurchase up to 10,000,000 shares of the Company’s common stock (the “2024 Repurchase Program”), including by means of one or more Rule 10b5-1 plans or other appropriate buy-back arrangements, including open market purchases and pri ...

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, 2024 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 ...