CVB Financial Corp. Reports Earnings for the Second Quarter 2025

Core Insights - CVB Financial Corp. reported net income of $50.6 million for Q2 2025, consistent with Q1 2025 and showing a slight increase from $50.0 million in Q2 2024 [2][6] - The company maintained a diluted earnings per share of $0.36 for the second quarter, unchanged from both the previous quarter and the same quarter last year [2][6] - The annualized return on average equity (ROAE) was 9.06%, while the return on average assets (ROAA) was 1.34% for the same period [3][6] Financial Performance - Net interest income for Q2 2025 was $111.6 million, a 1.1% increase from Q1 2025 and a 0.7% increase from Q2 2024 [5][8] - Noninterest income decreased to $14.7 million in Q2 2025 from $16.2 million in Q1 2025, primarily due to a one-time gain in the previous quarter [16] - Noninterest expense was $57.6 million, down from $59.1 million in Q1 2025, reflecting a decrease in salaries and benefits [17][18] Asset Quality and Loans - Total loans and leases at amortized cost were $8.36 billion, a slight decrease of $5.1 million from Q1 2025 [26] - The allowance for credit losses represented 0.93% of gross loans as of June 30, 2025, compared to 0.94% at the end of Q1 2025 [15][29] - Nonperforming loans totaled $25.97 million, accounting for 0.31% of total loans [32] Deposits and Borrowings - Total deposits and customer repurchase agreements increased to $12.39 billion, a net increase of $122.9 million from Q1 2025 [33] - Noninterest-bearing deposits were $7.25 billion, representing 60.47% of total deposits [34] - Total borrowings decreased significantly by $1.3 billion from June 30, 2024, primarily due to the redemption of Bank Term Funding Program advances [35][36] Capital and Ratios - The company's total equity increased to $2.24 billion as of June 30, 2025, with a tangible book value per share of $10.64 [37] - Capital ratios remained well above regulatory standards, with a common equity Tier 1 capital ratio of 16.5% [39] - The efficiency ratio for Q2 2025 was 45.6%, an improvement from 46.7% in Q1 2025 [18]