Financial Data and Key Metrics Changes - The company reported net earnings of $57.9 million or $0.42 per share for Q3 2023, compared to $55.8 million or $0.40 per share in Q2 2023 and $64.6 million or $0.46 per share in Q3 2022 [4][31] - Return on average tangible common equity was 18.82% and return on average assets was 1.4% for Q3 2023 [9] - Pretax pre-provision income grew by 5.7% from Q2 2023 to $82.6 million, with total revenue increasing by 4.2% while expenses grew by only 1.9% [9] - The net interest margin increased by 9 basis points to 3.31% in Q3 2023, reversing a declining trend from the previous two quarters [32][48] Business Line Data and Key Metrics Changes - Total loans outstanding decreased by approximately $30 million to $8.88 billion at the end of Q3 2023, with a notable decline in commercial real estate loans by $61 million [10][35] - Dairy and livestock loans increased by $49 million, while C&I loans decreased by approximately $11 million [14][15] - New loan production at the end of Q3 2023 was generated at average yields of approximately 7% [15] Market Data and Key Metrics Changes - Noninterest-bearing deposits declined by $292 million, while interest-bearing deposits increased by $253 million from the end of Q2 2023 [11] - The cost of deposits averaged 52 basis points in Q3 2023, up from 35 basis points in Q2 2023 [12] - Total deposits were $12.4 billion at the end of Q3 2023, a decrease from June 30, 2023, with a significant decline of $773 million in deposits from the end of 2022 [33][34] Company Strategy and Development Direction - The company aims to continue growing deposits and managing its capital effectively, with a focus on maintaining a strong capital position [20][24] - The management expressed a cautious outlook on loan growth, anticipating challenges in the pipeline but remaining optimistic about seasonal increases in the fourth quarter [85] - The company is actively evaluating opportunities in the M&A environment, particularly for banks willing to sell below book value [94] Management's Comments on Operating Environment and Future Outlook - Management noted headwinds in the current operating environment but emphasized a strong history of solid quarterly earnings [4] - The economic forecast includes a modest decline in GDP in early 2024, with an expected unemployment rate of 5.2% in 2024 [42] - Management remains cautious about credit quality, with stable trends observed despite some increases in classified loans [39][98] Other Important Information - The company's tangible common equity ratio was 7.73% at the end of Q3 2023, consistent with the prior quarter [22] - Noninterest income for Q3 2023 was $14.3 million, an increase from $12.7 million in the prior quarter [51] - The efficiency ratio improved to 39.99% for Q3 2023, compared to 40.86% in the prior quarter [55] Q&A Session Summary Question: Plans for $850 million due next year - The company aims to grow deposits and pay it off with deposits and security paydowns over time [57] Question: Update on deposit pipeline - The deposit pipeline remains strong, although the sales cycle is longer [58][60] Question: Appetite for restructuring the securities portfolio - The company is always evaluating opportunities but does not foresee significant changes at this time [61] Question: Increase in classified loans - The increase was primarily due to one relationship, which is well collateralized and expected to close in Q4 [62] Question: Outlook for loan growth - The company anticipates low single-digit growth, with new loan originations being lower than the previous year [86] Question: Changes in prospective sellers' willingness - The company is actively looking for opportunities, especially those willing to sell below book value [74] Question: Credit quality outlook - Credit trends have remained stable, with no significant changes observed in the loan book [98]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or Commission File Number: 000-10140 California 95-3629339 (State or other jurisdiction of Incorporation or organization) (I.R.S. Employer Identification No.) (909) 980-4030 (Registrant's telephone number, including area code) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by section 13 or 15(d ...

Capital • CET1 Ratio = 14.1% • Total Risk-Based Ratio = 14.9% • Tangible Common Equity Ratio = 7.8% cbbank.com • ROATCE = 18.39% • ROAA = 1.36% • NIM = 3.22% • Efficiency Ratio = 40.86% 12 Selected Ratios | --- | --- | --- | --- | --- | --- | --- | --- | |-------------|---------------------------------------------|--------|--------|---------|--------|--------|--------| | | | 2020 | 2021 | 2022 | Q2'22 | Q1'23 | Q2'23 | | | ROATCE | 14.25% | 15.93% | 18.85% | 18.67% | 20.59% | 18.39% | | | NIM | 3.59% | 2.97 ...

CVB Financial Corp. (NASDAQ:CVBF) Q2 2023 Earnings Call Transcript July 27, 2023 10:30 AM ET Company Participants Christina Carrabino - Investor Relations Dave Brager - President and Chief Executive Officer Allen Nicholson - Executive Vice President and Chief Financial Officer Conference Call Participants Ben Gerlinger - Hovde Group Gary Tenner - DA Davidson Matthew Clark - Piper Sandler Kelly Motta - KBW Tim Coffey - Janney Montgomery Operator Good morning, ladies and gentlemen, and welcome to the Second Q ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q (Mark One) 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) (State or other jurisdiction of Incorporation or organization) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly pe ...

CVB Financial Corp. (NASDAQ:CVBF) Q1 2023 Earnings Conference Call April 27, 2023 10:30 AM ET Company Participants Christina Carrabino - Investor Relations David Brager - President and Chief Executive Officer Allen Nicholson - Executive Vice President and Chief Financial Officer Conference Call Participants David Feaster - Raymond James Gary Tenner - D.A. Davidson Matthew Clark - Piper Sandler Kelly Motta - KBW Timothy Coffey - Janney Scott Montgomery Operator Good morning, ladies and gentlemen, and welcome ...

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, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. (State or other jurisdiction of incorporation or organization) 701 N. Haven Avenue, Suite 350 Ontario, California (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, includ ...

CVB Financial Corp. (NASDAQ:CVBF) Q4 2022 Earnings Conference Call January 26, 2023 10:30 AM ET Company Participants Christina Carrabino - Investor Relations Dave Brager - President and Chief Executive Officer Allen Nicholson - Executive Vice President and Chief Financial Officer Conference Call Participants Matthew Clark - Piper Sandler Clark Wright - D.A. Davidson Kelly Motta - KBW Eric Spector - Raymond James Tim Coffey - Janney Montgomery Scott Operator Good morning, ladies and gentlemen, and welcome to ...

January 2023 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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, No Par Value CVBF The Nasdaq Stock Market, LLC 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, 2022 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ...