CVB Financial (US:CVBF)2026-01-22 11:01Financial 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]