CVB Financial Corp. Reports Earnings for the Fourth Quarter and the Year Ended 2025
Rhea-AI Summary
CVB Financial (NASDAQ:CVBF) reported Q4 2025 net income $55.0M ($0.40 diluted) and full‑year 2025 net income $209.3M ($1.52 diluted). Q4 annualized ROAA was 1.40%, ROATCE 14.41% and NIM expanded to 3.49% (Q3: 3.33%). Full‑year NIM was 3.36% vs 3.09% in 2024. Q4 net interest income rose to $122.7M (+6.1% QoQ) and provision for credit losses showed a $2.5M recapture. Assets totaled $15.63B at 12/31/2025 and the company repurchased 4.3M shares in 2025.
Positive
- None.
Negative
- None.
News Market Reaction
On the day this news was published, CVBF declined 0.36%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
CVBF was down 0.78% while key regional bank peers like FBK, PRK, BMA, BOH, and SFNC showed gains between 3.39% and 7.09%, pointing to stock-specific dynamics rather than a sector-wide move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 17 | Merger announcement | Positive | +1.3% | All-stock merger with Heritage Commerce Corp valued at about $811 million. |
| Dec 12 | Dividend declaration | Positive | +1.4% | 145th consecutive quarterly cash dividend of $0.20 per share announced. |
| Nov 05 | Branch expansion | Positive | +0.1% | New de novo loan production office opened in Temecula-Murrieta region. |
| Oct 23 | Board appointment | Positive | +2.3% | New director added to boards to enhance expertise and oversight. |
| Sep 17 | Dividend declaration | Positive | +3.3% | 144th consecutive quarterly cash dividend of $0.20 per share declared. |
Recent company news with generally constructive tone has tended to coincide with modest positive price reactions.
Over the last six months, CVBF has highlighted steady shareholder returns and strategic growth. Dividend announcements in September and December 2025 extended its long streak of quarterly cash dividends. An October board appointment expanded governance depth, while a November de novo office opening added regional lending capacity. In December 2025, CVBF announced an all-stock merger with Heritage Commerce Corp, targeting a combined asset base of about $22 billion. Today’s earnings fit into this pattern of incremental growth and balance-sheet discipline.
Market Pulse Summary
This announcement highlights consistent profitability, with Q4 2025 net earnings of $55.0 million, EPS of $0.40, and a net interest margin of 3.49%. Full-year 2025 EPS reached $1.52, supported by loan growth and disciplined cost of funds at 1.03%. Recent history includes ongoing dividends and a planned merger with Heritage Commerce Corp. Investors may watch future net interest margin trends, credit loss provisions, integration progress, and expense discipline as key indicators.
Key Terms
return on average assets financial
net interest margin financial
return on average tangible common equity financial
provision for credit losses financial
available-for-sale ("AFS") investments financial
bank-owned life insurance ("BOLI") financial
other real estate owned ("OREO") financial
held-to-maturity (“HTM”) financial
AI-generated analysis. Not financial advice.
Fourth Quarter 2025
- Net Earnings of
$55.0 million , or$0.40 per share - Return on Average Assets of
1.40% - Net Interest Margin of
3.49%
Full Year 2025
- Net Earnings of
$209.3 million , or$1.52 per share - Return on Average Assets of
1.36% - Return on Average Tangible Common Equity of
14.28%
Ontario, CA, Jan. 21, 2026 (GLOBE NEWSWIRE) -- CVB Financial Corp. (NASDAQ:CVBF) and its subsidiary, Citizens Business Bank, National Association (the “Company”), announced earnings for the quarter and the year ended December 31, 2025.
CVB Financial Corp. reported net income of
For the fourth quarter of 2025, annualized return on average equity (“ROAE”) was
For the year ended December 31, 2025, the Company reported net income of
David Brager, President and Chief Executive Officer of Citizens Business Bank, commented, “Citizens Business Bank’s performance in the fourth quarter demonstrates our continued financial strength and focus on our vision of serving the comprehensive financial needs of small to medium sized businesses and their owners. Our consistent financial performance is highlighted by our 195 consecutive quarters, or more than 48 years, of profitability, and our 145 consecutive quarters of paying cash dividends. I would like to thank our customers and associates for their continuing commitment and loyalty.”
Highlights for the Fourth Quarter of 2025
- Pre-provision / pretax income increased to
$71.9 million , from$70.0 million in the third quarter of 2025 - Positive operating leverage of
2% compared to prior quarter and6% compared to the fourth quarter of 2024 - Net interest income of
$123 million increased by$7 million , or6.1% from the third quarter of 2025 - Net interest margin expanded to
3.49% from3.33% for the third quarter of 2025 - Loans grew by
$228 million from the end of the third quarter 2025 - Average total deposits & customer repurchase agreements increased by
$110 million from the prior quarter - Efficiency ratio of
44.4% , excluding acquisition expense and increase in off-balance sheet reserves $2.5 million recapture of allowance for credit loss, net recoveries of$325,000 during the quarter$20.5 million decrease in NPA and$25.5 million decrease in classified loans compared to prior quarter
Highlights for the Full Year 2025
5.5% growth in Earning Per Share and4.3% growth in Net Income- Net interest margin of
3.36% , compared to3.09% for 2024 - Cost of funds of
1.03% , compared to1.32% for 2024 - Net interest income increased by
$13 million , or2.9% - Efficiency ratio of
45.3% after excluding expense for acquisition and increased reserves for off-balance sheet - Loans grew by
$163 million , or2% compared to December 31, 2024 - Average total deposits & customer repurchase agreements increased by
1% , compared to 2024 - Repurchased 4.3 million shares of common stock in 2025
INCOME STATEMENT HIGHLIGHTS
| Three Months Ended | Year Ended December 31, | ||||||||||||||||||||||
| December 31, 2025 | September 30, 2025 | December 31, 2024 | 2025 | 2024 | 2023 | ||||||||||||||||||
| (Dollars in thousands, except per share amounts) | |||||||||||||||||||||||
| Net interest income | $ | 122,658 | $ | 115,577 | $ | 110,418 | $ | 460,287 | $ | 447,347 | $ | 487,990 | |||||||||||
| (Recapture of) provision for credit losses | (2,500 | ) | 1,000 | 3,000 | (3,500 | ) | 3,000 | (2,000 | ) | ||||||||||||||
| Noninterest income | 11,193 | 13,006 | 13,103 | 55,171 | 54,474 | 59,330 | |||||||||||||||||
| Noninterest expense | 61,988 | 58,576 | 58,480 | 237,265 | 233,583 | 229,886 | |||||||||||||||||
| Income taxes | 19,319 | 16,421 | 17,183 | 72,395 | 70,522 | 93,999 | |||||||||||||||||
| Net earnings | $ | 55,044 | $ | 52,586 | $ | 50,858 | $ | 209,298 | $ | 200,716 | $ | 221,435 | |||||||||||
| Earnings per common share: | |||||||||||||||||||||||
| Basic | $ | 0.40 | $ | 0.38 | $ | 0.36 | $ | 1.52 | $ | 1.44 | $ | 1.59 | |||||||||||
| Diluted | $ | 0.40 | $ | 0.38 | $ | 0.36 | $ | 1.52 | $ | 1.44 | $ | 1.59 | |||||||||||
| NIM | 3.49 | % | 3.33 | % | 3.18 | % | 3.36 | % | 3.09 | % | 3.31 | % | |||||||||||
| ROAA | 1.40 | % | 1.35 | % | 1.30 | % | 1.36 | % | 1.24 | % | 1.35 | % | |||||||||||
| ROAE | 9.48 | % | 9.19 | % | 9.14 | % | 9.26 | % | 9.35 | % | 11.03 | % | |||||||||||
| ROATCE | 14.41 | % | 14.11 | % | 14.31 | % | 14.28 | % | 14.95 | % | 18.48 | % | |||||||||||
| Efficiency ratio | 46.31 | % | 45.56 | % | 47.34 | % | 46.03 | % | 46.55 | % | 42.00 | % | |||||||||||
Net Interest Income
Net interest income was
Net interest income of
Net Interest Margin
Our tax equivalent net interest margin was
Net interest margin for the fourth quarter of 2025 increased by 31 basis points compared to the fourth quarter of 2024, based on the impact of both a 19 basis point increase in the earning asset yield and a 12 basis point decrease in cost of funds. The increase in earning asset yield was primarily due to a 32 basis point increase in loan yields. Cost of funds was
Earning Assets and Deposits
On average, earning assets increased by
SELECTED FINANCIAL HIGHLIGHTS
| Three Months Ended | ||||||||||||||||||||||||||
| December 31, 2025 | September 30, 2025 | December 31, 2024 | ||||||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||||
| Yield on average investment securities (TE) | ||||||||||||||||||||||||||
| Yield on average loans | ||||||||||||||||||||||||||
| Yield on average earning assets (TE) | ||||||||||||||||||||||||||
| Cost of deposits | ||||||||||||||||||||||||||
| Cost of funds | ||||||||||||||||||||||||||
| Net interest margin (TE) | ||||||||||||||||||||||||||
| Average Earning Asset Mix | Avg | % of Total | Avg | % of Total | Avg | % of Total | ||||||||||||||||||||
| Total investment securities | $ | 4,946,732 | 35.27 | % | $ | 4,835,928 | 34.86 | % | $ | 4,936,514 | 35.36 | % | ||||||||||||||
| Interest-earning deposits with other institutions | 528,211 | 3.77 | % | 646,979 | 4.66 | % | 485,103 | 3.47 | % | |||||||||||||||||
| Loans | 8,517,188 | 60.73 | % | 8,372,383 | 60.35 | % | 8,522,587 | 61.04 | % | |||||||||||||||||
| Total interest-earning assets | 14,025,812 | 13,873,302 | 13,962,216 | |||||||||||||||||||||||
| Year Ended December 31, | ||||||||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||||
| Yield on average investment securities (TE) | ||||||||||||||||||||||||||
| Yield on average loans | ||||||||||||||||||||||||||
| Yield on average earning assets (TE) | ||||||||||||||||||||||||||
| Cost of deposits | ||||||||||||||||||||||||||
| Cost of funds | ||||||||||||||||||||||||||
| Net interest margin (TE) | ||||||||||||||||||||||||||
| Average Earning Asset Mix | Avg | % of Total | Avg | % of Total | Avg | % of Total | ||||||||||||||||||||
| Total investment securities | $ | 4,884,669 | 35.51 | % | $ | 5,144,555 | 35.35 | % | $ | 5,579,488 | 37.63 | % | ||||||||||||||
| Interest-earning deposits with other institutions | 420,504 | 3.06 | % | 720,428 | 4.95 | % | 331,156 | 2.23 | % | |||||||||||||||||
| Loans | 8,427,967 | 61.27 | % | 8,670,420 | 59.58 | % | 8,893,335 | 59.97 | % | |||||||||||||||||
| Total interest-earning assets | 13,755,101 | 14,553,415 | 14,829,057 | |||||||||||||||||||||||
Provision for Credit Losses
There was a
For the year ended December 31, 2025, we recorded a
Noninterest Income
Noninterest income was
For the year ended December 31, 2025, noninterest income was
Noninterest Expense
Noninterest expense for the fourth quarter of 2025 was
Noninterest expense of
Income Taxes
Our effective tax rate for the quarter ended December 31, 2025 was
BALANCE SHEET HIGHLIGHTS
Assets
The Company reported total assets of
Total assets increased by
Investment Securities
Total investment securities were
At December 31, 2025, investment securities held-to-maturity (“HTM”) totaled
At December 31, 2025, investment securities available-for-sale (“AFS”) totaled
Loans
Total loans and leases, at amortized cost, of
Total loans and leases, at amortized cost, increased by
Asset Quality
During the fourth quarter of 2025, we experienced credit charge-offs of
Nonperforming loans, defined as nonaccrual loans, including modified loans on nonaccrual, plus loans 90 days past due and accruing interest, and nonperforming assets, defined as nonperforming plus OREO, are highlighted below.
| Nonperforming Assets and Delinquency Trends | December 31, 2025 | September 30, 2025 | December 31, 2024 | |||||||||
| (Dollars in thousands) | ||||||||||||
| Nonperforming loans | ||||||||||||
| Commercial real estate | $ | 4,186 | $ | 23,707 | $ | 25,866 | ||||||
| SBA | 21 | 3,952 | 1,529 | |||||||||
| Commercial and industrial | 478 | 145 | 340 | |||||||||
| Dairy & livestock and agribusiness | - | - | 60 | |||||||||
| Total | $ | 4,685 | $ | 27,804 | $ | 27,795 | ||||||
| % of Total loans | 0.05 | % | 0.33 | % | 0.33 | % | ||||||
| OREO | ||||||||||||
| Commercial real estate | $ | 163 | $ | 661 | $ | 18,656 | ||||||
| SFR mortgage | - | - | 647 | |||||||||
| Total | $ | 163 | $ | 661 | $ | 19,303 | ||||||
| Total nonperforming assets | $ | 4,848 | $ | 28,465 | $ | 47,098 | ||||||
| % of Nonperforming assets to total assets | 0.03 | % | 0.18 | % | 0.31 | % | ||||||
| Past due 30-89 days (accruing) | ||||||||||||
| Commercial real estate | $ | 2,887 | $ | 43 | $ | - | ||||||
| SBA | 30 | 42 | 88 | |||||||||
| Commercial and industrial | 261 | - | 399 | |||||||||
| Total | $ | 3,178 | $ | 85 | $ | 487 | ||||||
| % of Total loans | 0.04 | % | 0.00 | % | 0.01 | % | ||||||
| Total nonperforming, OREO, and past due | $ | 8,026 | $ | 28,550 | $ | 47,585 | ||||||
| Classified Loans | $ | 52,701 | $ | 78,180 | $ | 89,549 | ||||||
The
Classified loans are loans that are graded “substandard” or worse. Classified loans decreased
Deposits & Customer Repurchase Agreements
Deposits of
Noninterest-bearing deposits were
Borrowings
As of December 31, 2025, September 30, 2025, and December 31, 2024, total borrowings consisted of
Capital
The Company’s total equity was
Our capital ratios under the revised capital framework referred to as Basel III remain well above regulatory standards.
| CVB Financial Corp. Consolidated | ||||||||||||
| Minimum Required Plus Capital Conservation Buffer | December 31, 2025 | September 30, 2025 | December 31, 2024 | |||||||||
| Tier 1 leverage capital ratio | 4.0 | % | 11.6 | % | 11.8 | % | 11.5 | % | ||||
| Common equity Tier 1 capital ratio | 7.0 | % | 15.9 | % | 16.3 | % | 16.2 | % | ||||
| Tier 1 risk-based capital ratio | 8.5 | % | 15.9 | % | 16.3 | % | 16.2 | % | ||||
| Total risk-based capital ratio | 10.5 | % | 16.7 | % | 17.1 | % | 17.1 | % | ||||
| Tangible common equity ratio | 10.3 | % | 10.1 | % | 9.8 | % | ||||||
CitizensTrust
As of December 31, 2025, CitizensTrust had approximately
Corporate Overview
CVB Financial Corp. (“CVBF”) is the holding company for Citizens Business Bank, National Association. CVBF is one of the 10 largest bank holding companies headquartered in California with more than
Shares of CVB Financial Corp. common stock are listed on the NASDAQ under the ticker symbol “CVBF”. For investor information on CVB Financial Corp., visit our Citizens Business Bank website at www.cbbank.com and click on the “Investors” tab.
Conference Call
Management will hold a conference call at 7:30 a.m. PDT/10:30 a.m. EDT on Thursday, January 22, 2026, to discuss the Company’s fourth quarter 2025 financial results. The conference call can be accessed live by registering at: https://register-conf.media-server.com/register/BI0e4821389aa24c70bdd552e807b00aa8
The conference call will also be simultaneously webcast over the Internet; please visit our Citizens Business Bank website at www.cbbank.com and click on the “Investors” tab to access the call from the site. Please access the website 15 minutes prior to the call to download any necessary audio software. This webcast will be recorded and available for replay on the Company’s website approximately two hours after the conclusion of the conference call and will be available on the website for approximately 12 months.
Safe Harbor
Certain statements set forth herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “will likely result”, “aims”, “anticipates”, “believes”, “could”, “estimates”, “expects”, “hopes”, “intends”, “may”, “plans”, “projects”, “seeks”, “should”, “will,” “strategy”, “possibility”, and variations of these words and similar expressions help to identify these forward-looking statements, which involve risks and uncertainties that could cause actual results or performance to differ materially from those projected. These forward-looking statements are based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company including, without limitation, plans, strategies, goals and statements about the Company’s outlook regarding revenue and asset growth, financial performance and profitability, capital and liquidity levels, loan and deposit levels, growth and retention, yields and returns, loan diversification and credit management, stockholder value creation, tax rates, the impact of business, economic, or political developments, the impact of monetary, fiscal and trade policies, and the impact of acquisitions we have made or may make. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company, and there can be no assurance that future developments affecting the Company will be the same as those anticipated by management. The Company cautions readers that a number of important factors, in addition to those set forth below, could cause actual results to differ materially from those expressed in, or implied or projected by, such forward-looking statements.
General risks and uncertainties include, but are not limited to, the following: the strength of the United States economy and the strength of the local economies in which we conduct business; the effects of, and changes in, immigration, trade, tariff, monetary, and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; inflation/deflation, interest rate, market and monetary fluctuations; the effect of acquisitions we have made or may make, including, without limitation, the failure to obtain the necessary regulatory approvals, the failure to achieve the expected revenue growth and/or expense savings from such acquisitions, and/or the failure to effectively integrate an acquisition target, key personnel and customers into our operations; the timely development of competitive new products and services, and the acceptance of these products and services by potential and existing customers; the impact of changes in financial services policies, laws, and regulations, including those concerning banking, taxes, securities, and insurance, and the application thereof by regulatory agencies; the effectiveness of our risk management framework and quantitative models; changes in the level of our nonperforming assets and charge-offs; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the U.S. Securities and Exchange Commission (“SEC”), the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters; possible credit related impairments or declines in the fair value of loans and securities held by us; possible impairment charges to goodwill, including any impairment that may result from increased volatility in our stock price; changes in consumer or business spending, borrowing, and savings habits; the effects of our lack of a diversified loan portfolio, including the risks of geographic and industry concentrations; periodic fluctuations in commercial or residential real estate prices or values; our ability to attract or retain deposits (including low cost deposits) or to access government or private lending facilities and other sources of liquidity; the possibility that we may reduce or discontinue the payment of dividends on our common stock; changes in the financial performance and/or condition of our borrowers or depositors; changes in the competitive environment among financial and bank holding companies and other financial service providers; technological changes in banking and financial services; systemic or non-systemic bank failures or crises; geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism, and/or military conflicts, which could impact business and economic conditions in the United States and abroad; catastrophic events or natural disasters, including earthquakes, drought, climate change or extreme weather events that may affect our assets, communications or computer services, customers, employees or third party vendors; public health crises and pandemics, and their effects on the economic and business environments in which we operate, including on our asset credit quality, business operations, and employees, as well as the impact on general economic and financial market conditions; cybersecurity threats and fraud and the costs of defending against them, including the costs of compliance with legislation or regulations to combat fraud and cybersecurity threats; our ability to recruit and retain key executives, board members and other employees, and our ability to comply with federal and state employment laws and regulations; ongoing or unanticipated regulatory or legal proceedings or outcomes; ; risks associated with our pending merger with Heritage Commerce Corp (“Heritage”), including completing the transaction on the terms set forth in our definitive agreement with Heritage, difficulties and delays in integrating Heritage’s business, key personnel and customers into our business and operations, and achieving anticipated synergies, cost savings and other benefits from the transaction; and our ability to manage the risks involved in the foregoing.
Additional factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company's 2024 Annual Report on Form 10-K filed with the SEC and available at the SEC’s Internet site (http://www.sec.gov).
The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements, except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company’s earnings, equity, or shareholder returns, are for illustrative purposes only, are not forecasts, and actual results may differ.
Non-GAAP Financial Measures — Certain financial information provided in this earnings release has not been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and is presented on a non-GAAP basis. Investors and analysts should refer to the reconciliations included in this earnings release and should consider the Company’s non-GAAP measures in addition to, not as a substitute for or as superior to, measures prepared in accordance with GAAP. These non-GAAP measures may or may not be comparable to similarly titled measures used by other companies.
| CVB FINANCIAL CORP. AND SUBSIDIARIES | ||||||||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||||||
| (Unaudited) | ||||||||||||
| (Dollars in thousands) | ||||||||||||
| December 31, 2025 | September 30, 2025 | December 31, 2024 | ||||||||||
| Assets | ||||||||||||
| Cash and due from banks | $ | 107,511 | $ | 151,848 | $ | 153,875 | ||||||
| Interest-earning balances due from Federal Reserve | 268,878 | 632,072 | 50,823 | |||||||||
| Total cash and cash equivalents | 376,389 | 783,920 | 204,698 | |||||||||
| Interest-earning balances due from depository institutions | 13,064 | 13,163 | 480 | |||||||||
| Investment securities available-for-sale | 2,683,070 | 2,579,397 | 2,542,115 | |||||||||
| Investment securities held-to-maturity | 2,270,391 | 2,297,909 | 2,379,668 | |||||||||
| Total investment securities | 4,953,461 | 4,877,306 | 4,921,783 | |||||||||
| Investment in FHLB, FRB, and other stock | 55,948 | 18,012 | 18,012 | |||||||||
| Loans and lease finance receivables | 8,699,193 | 8,470,906 | 8,536,432 | |||||||||
| Allowance for credit losses | (77,161 | ) | (79,336 | ) | (80,122 | ) | ||||||
| Net loans and lease finance receivables | 8,622,032 | 8,391,570 | 8,456,310 | |||||||||
| Premises and equipment, net | 26,505 | 26,595 | 27,543 | |||||||||
| Bank owned life insurance ("BOLI") | 325,299 | 323,881 | 316,248 | |||||||||
| Intangibles | 5,774 | 6,654 | 9,967 | |||||||||
| Goodwill | 765,822 | 765,822 | 765,822 | |||||||||
| Other assets | 486,760 | 459,283 | 432,792 | |||||||||
| Total assets | $ | 15,631,054 | $ | 15,666,206 | $ | 15,153,655 | ||||||
| Liabilities and Stockholders' Equity | ||||||||||||
| Liabilities: | ||||||||||||
| Deposits: | ||||||||||||
| Noninterest-bearing | $ | 6,800,691 | $ | 7,244,968 | $ | 7,037,096 | ||||||
| Investment checking | 509,272 | 487,738 | 551,305 | |||||||||
| Savings and money market | 4,185,244 | 3,809,768 | 3,786,387 | |||||||||
| Time deposits | 576,775 | 581,765 | 573,593 | |||||||||
| Total deposits | 12,071,982 | 12,124,239 | 11,948,381 | |||||||||
| Customer repurchase agreements | 490,601 | 451,258 | 261,887 | |||||||||
| Other borrowings | 500,000 | 500,000 | 500,000 | |||||||||
| Other liabilities | 273,247 | 308,642 | 257,071 | |||||||||
| Total liabilities | 13,335,830 | 13,384,139 | 12,967,339 | |||||||||
| Stockholders' Equity | ||||||||||||
| Stockholders' equity | 2,522,878 | 2,529,843 | 2,498,380 | |||||||||
| Accumulated other comprehensive loss, net of tax | (227,654 | ) | (247,776 | ) | (312,064 | ) | ||||||
| Total stockholders' equity | 2,295,224 | 2,282,067 | 2,186,316 | |||||||||
| Total liabilities and stockholders' equity | $ | 15,631,054 | $ | 15,666,206 | $ | 15,153,655 | ||||||
| CVB FINANCIAL CORP. AND SUBSIDIARIES | ||||||||||||||||||||
| CONDENSED CONSOLIDATED AVERAGE BALANCE SHEETS | ||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||
| Three Months Ended | Year Ended | |||||||||||||||||||
| December 31, 2025 | September 30, 2025 | December 31, 2024 | 2025 | 2024 | ||||||||||||||||
| Assets | ||||||||||||||||||||
| Cash and due from banks | $ | 144,568 | $ | 150,152 | $ | 152,966 | $ | 150,929 | $ | 160,018 | ||||||||||
| Interest-earning balances due from Federal Reserve | 513,797 | 635,331 | 484,038 | 412,210 | 710,308 | |||||||||||||||
| Total cash and cash equivalents | 658,365 | 785,483 | 637,004 | 563,139 | 870,326 | |||||||||||||||
| Interest-earning balances due from depository institutions | 14,414 | 11,648 | 1,065 | 8,294 | 10,120 | |||||||||||||||
| Investment securities available-for-sale | 2,661,115 | 2,522,720 | 2,542,649 | 2,557,402 | 2,716,581 | |||||||||||||||
| Investment securities held-to-maturity | 2,285,617 | 2,313,208 | 2,393,865 | 2,327,267 | 2,427,974 | |||||||||||||||
| Total investment securities | 4,946,732 | 4,835,928 | 4,936,514 | 4,884,669 | 5,144,555 | |||||||||||||||
| Investment in FHLB, FRB, and other stock | 33,681 | 18,012 | 18,012 | 21,961 | 18,012 | |||||||||||||||
| Loans and lease finance receivables | 8,517,188 | 8,372,383 | 8,522,587 | 8,427,967 | 8,670,420 | |||||||||||||||
| Allowance for credit losses | (79,341 | ) | (78,161 | ) | (82,960 | ) | (78,964 | ) | (83,580 | ) | ||||||||||
| Net loans and lease finance receivables | 8,437,847 | 8,294,222 | 8,439,627 | 8,349,003 | 8,586,840 | |||||||||||||||
| Premises and equipment, net | 26,775 | 26,679 | 29,959 | 26,958 | 39,191 | |||||||||||||||
| Bank owned life insurance ("BOLI") | 325,389 | 322,591 | 316,938 | 321,079 | 313,671 | |||||||||||||||
| Intangibles | 6,176 | 7,111 | 10,650 | 7,748 | 12,571 | |||||||||||||||
| Goodwill | 765,822 | 765,822 | 765,822 | 765,822 | 765,822 | |||||||||||||||
| Other assets | 433,774 | 430,894 | 406,898 | 427,941 | 378,490 | |||||||||||||||
| Total assets | $ | 15,648,975 | $ | 15,498,390 | $ | 15,562,489 | $ | 15,376,614 | $ | 16,139,598 | ||||||||||
| Liabilities and Stockholders' Equity | ||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||
| Deposits: | ||||||||||||||||||||
| Noninterest-bearing | $ | 7,001,471 | $ | 7,123,511 | $ | 7,116,050 | $ | 7,045,960 | $ | 7,144,129 | ||||||||||
| Interest-bearing | 5,087,709 | 4,893,214 | 4,998,424 | 4,901,353 | 4,779,181 | |||||||||||||||
| Total deposits | 12,089,180 | 12,016,725 | 12,114,474 | 11,947,313 | 11,923,310 | |||||||||||||||
| Customer repurchase agreements | 493,886 | 456,230 | 456,145 | 411,625 | 354,432 | |||||||||||||||
| Other borrowings | 500,000 | 500,005 | 500,000 | 505,261 | 1,515,725 | |||||||||||||||
| Other liabilities | 261,824 | 254,279 | 278,314 | 252,140 | 200,466 | |||||||||||||||
| Total liabilities | 13,344,890 | 13,227,239 | 13,348,933 | 13,116,339 | 13,993,933 | |||||||||||||||
| Stockholders' Equity | ||||||||||||||||||||
| Stockholders' equity | 2,541,331 | 2,538,445 | 2,507,060 | 2,530,565 | 2,469,095 | |||||||||||||||
| Accumulated other comprehensive loss, net of tax | (237,246 | ) | (267,294 | ) | (293,504 | ) | (270,290 | ) | (323,430 | ) | ||||||||||
| Total stockholders' equity | 2,304,085 | 2,271,151 | 2,213,556 | 2,260,275 | 2,145,665 | |||||||||||||||
| Total liabilities and stockholders' equity | $ | 15,648,975 | $ | 15,498,390 | $ | 15,562,489 | $ | 15,376,614 | $ | 16,139,598 | ||||||||||
| CVB FINANCIAL CORP. AND SUBSIDIARIES | ||||||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS | ||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||
| (Dollars in thousands, except per share amounts) | ||||||||||||||||||||
| Three Months Ended | Year Ended | |||||||||||||||||||
| December 31, 2025 | September 30, 2025 | December 31, 2024 | 2025 | 2024 | ||||||||||||||||
| Interest income: | ||||||||||||||||||||
| Loans and leases, including fees | $ | 117,415 | $ | 110,825 | $ | 110,277 | $ | 446,156 | $ | 455,755 | ||||||||||
| Investment securities: | ||||||||||||||||||||
| Investment securities available-for-sale | 20,062 | 18,867 | 18,041 | 75,962 | 80,890 | |||||||||||||||
| Investment securities held-to-maturity | 12,649 | 12,812 | 13,020 | 51,368 | 53,151 | |||||||||||||||
| Total investment income | 32,711 | 31,679 | 31,061 | 127,330 | 134,041 | |||||||||||||||
| Dividends from FHLB, FRB, and other stock | 539 | 377 | 380 | 1,706 | 1,551 | |||||||||||||||
| Interest-earning deposits with other institutions | 5,314 | 7,231 | 5,881 | 18,109 | 38,765 | |||||||||||||||
| Total interest income | 155,979 | 150,112 | 147,599 | 593,301 | 630,112 | |||||||||||||||
| Interest expense: | ||||||||||||||||||||
| Deposits | 25,047 | 26,096 | 28,317 | 101,294 | 105,483 | |||||||||||||||
| Borrowings and customer repurchase agreements | 8,007 | 8,109 | 8,291 | 30,317 | 76,709 | |||||||||||||||
| Other | 267 | 330 | 573 | 1,403 | 573 | |||||||||||||||
| Total interest expense | 33,321 | 34,535 | 37,181 | 133,014 | 182,765 | |||||||||||||||
| Net interest income before provision for (recapture of) credit losses | 122,658 | 115,577 | 110,418 | 460,287 | 447,347 | |||||||||||||||
| (Recapture of) provision for credit losses | (2,500 | ) | 1,000 | (3,000 | ) | (3,500 | ) | (3,000 | ) | |||||||||||
| Net interest income after provision for (recapture of) credit losses | 125,158 | 114,577 | 113,418 | 463,787 | 450,347 | |||||||||||||||
| Noninterest income: | ||||||||||||||||||||
| Service charges on deposit accounts | 4,734 | 4,859 | 5,097 | 19,460 | 20,370 | |||||||||||||||
| Trust and investment services | 4,031 | 3,875 | 3,512 | 15,033 | 13,729 | |||||||||||||||
| Loss on sale of AFS Investment Securities | (2,785 | ) | (8,185 | ) | (16,735 | ) | (10,970 | ) | (28,317 | ) | ||||||||||
| Gain on OREO, net | 113 | - | - | 2,296 | - | |||||||||||||||
| Gain on sale leaseback transactions | - | - | 16,794 | - | 25,900 | |||||||||||||||
| Other | 5,100 | 12,457 | 4,435 | 29,352 | 22,792 | |||||||||||||||
| Total noninterest income | 11,193 | 13,006 | 13,103 | 55,171 | 54,474 | |||||||||||||||
| Noninterest expense: | ||||||||||||||||||||
| Salaries and employee benefits | 37,105 | 35,876 | 35,998 | 144,457 | 144,472 | |||||||||||||||
| Occupancy and equipment | 5,892 | 5,823 | 5,866 | 23,819 | 23,407 | |||||||||||||||
| Professional services | 2,626 | 2,350 | 2,646 | 9,248 | 10,482 | |||||||||||||||
| Computer software expense | 4,167 | 4,350 | 3,921 | 17,148 | 15,301 | |||||||||||||||
| Marketing and promotion | 1,339 | 1,738 | 1,757 | 6,882 | 7,307 | |||||||||||||||
| Amortization of intangible assets | 881 | 1,003 | 1,163 | 4,193 | 5,324 | |||||||||||||||
| Provision for (recapture of) unfunded loan commitments | 1,000 | 500 | - | 2,000 | (1,250 | ) | ||||||||||||||
| Acquisition related expenses | 1,556 | - | - | 1,556 | - | |||||||||||||||
| Other | 7,422 | 6,936 | 7,129 | 27,962 | 28,540 | |||||||||||||||
| Total noninterest expense | 61,988 | 58,576 | 58,480 | 237,265 | 233,583 | |||||||||||||||
| Earnings before income taxes | 74,363 | 69,007 | 68,041 | 281,693 | 271,238 | |||||||||||||||
| Income taxes | 19,319 | 16,421 | 17,183 | 72,395 | 70,522 | |||||||||||||||
| Net earnings | $ | 55,044 | $ | 52,586 | $ | 50,858 | $ | 209,298 | $ | 200,716 | ||||||||||
| Basic earnings per common share | $ | 0.40 | $ | 0.38 | $ | 0.36 | $ | 1.52 | $ | 1.44 | ||||||||||
| Diluted earnings per common share | $ | 0.40 | $ | 0.38 | $ | 0.36 | $ | 1.52 | $ | 1.44 | ||||||||||
| Cash dividends declared per common share | $ | 0.20 | $ | 0.20 | $ | 0.20 | $ | 0.80 | $ | 0.80 | ||||||||||
| CVB FINANCIAL CORP. AND SUBSIDIARIES | |||||||||||||||||||
| SELECTED FINANCIAL HIGHLIGHTS | |||||||||||||||||||
| (Unaudited) | |||||||||||||||||||
| (Dollars in thousands, except per share amounts) | |||||||||||||||||||
| Three Months Ended | Year Ended | ||||||||||||||||||
| December 31, 2025 | September 30, 2025 | December 31, 2024 | 2025 | 2024 | |||||||||||||||
| Interest income - tax equivalent (TE) | $ | 156,007 | $ | 150,626 | $ | 148,128 | $ | 593,413 | $ | 632,248 | |||||||||
| Interest expense | 33,321 | 34,535 | 37,181 | 133,014 | 182,765 | ||||||||||||||
| Net interest income - (TE) | $ | 122,686 | $ | 116,091 | $ | 110,947 | $ | 460,399 | $ | 449,483 | |||||||||
| Return on average assets, annualized | 1.40 | % | 1.35 | % | 1.30 | % | 1.36 | % | 1.24 | % | |||||||||
| Return on average equity, annualized | 9.48 | % | 9.19 | % | 9.14 | % | 9.26 | % | 9.35 | % | |||||||||
| Efficiency ratio [1] | 46.31 | % | 45.56 | % | 47.34 | % | 46.03 | % | 46.55 | % | |||||||||
| Noninterest expense to average assets, annualized | 1.57 | % | 1.50 | % | 1.49 | % | 1.54 | % | 1.45 | % | |||||||||
| Yield on average loans | 5.47 | % | 5.25 | % | 5.15 | % | 5.29 | % | 5.26 | % | |||||||||
| Yield on average earning assets (TE) | 4.43 | % | 4.32 | % | 4.24 | % | 4.33 | % | 4.35 | % | |||||||||
| Cost of deposits | 0.82 | % | 0.86 | % | 0.93 | % | 0.85 | % | 0.88 | % | |||||||||
| Cost of deposits and customer repurchase agreements | 0.86 | % | 0.90 | % | 0.97 | % | 0.88 | % | 0.90 | % | |||||||||
| Cost of funds | 1.01 | % | 1.05 | % | 1.13 | % | 1.03 | % | 1.32 | % | |||||||||
| Net interest margin (TE) | 3.49 | % | 3.33 | % | 3.18 | % | 3.36 | % | 3.09 | % | |||||||||
| [1] Noninterest expense divided by net interest income before provision for credit losses plus noninterest income. | |||||||||||||||||||
| Tangible Common Equity Ratio (TCE) [2] | |||||||||||||||||||
| CVB Financial Corp. Consolidated | 10.25 | % | 10.14 | % | 9.81 | % | |||||||||||||
| Citizens Business Bank | 10.09 | % | 10.00 | % | 9.64 | % | |||||||||||||
| [2] (Capital - [GW+Intangibles])/(Total Assets - [GW+Intangibles]) | |||||||||||||||||||
| Weighted average shares outstanding | |||||||||||||||||||
| Basic | 135,525,188 | 136,830,737 | 138,661,665 | 136,757,254 | 138,414,598 | ||||||||||||||
| Diluted | 135,920,667 | 137,152,562 | 139,102,524 | 137,050,575 | 138,579,141 | ||||||||||||||
| Dividends declared | $ | 27,180 | $ | 27,548 | $ | 27,978 | $ | 110,284 | $ | 111,859 | |||||||||
| Dividend payout ratio [3] | 49.38 | % | 52.39 | % | 55.01 | % | 52.69 | % | 55.73 | % | |||||||||
| [3] Dividends declared on common stock divided by net earnings. | |||||||||||||||||||
| Number of shares outstanding - (end of period) | 135,551,799 | 137,509,649 | 139,689,686 | ||||||||||||||||
| Book value per share | $ | 16.93 | $ | 16.60 | $ | 15.65 | |||||||||||||
| Tangible book value per share | $ | 11.24 | $ | 10.98 | $ | 10.10 | |||||||||||||
| CVB FINANCIAL CORP. AND SUBSIDIARIES | ||||||||||||||||||||
| SELECTED FINANCIAL HIGHLIGHTS | ||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||
| (Dollars in thousands, except per share amounts) | ||||||||||||||||||||
| Three Months Ended | ||||||||||||||||||||
| December 31, 2025 | September 30, 2025 | December 31, 2024 | ||||||||||||||||||
| Nonperforming assets: | ||||||||||||||||||||
| Nonaccrual loans | $ | 4,685 | $ | 27,804 | $ | 27,795 | ||||||||||||||
| Other real estate owned ("OREO"), net | 163 | 661 | 19,303 | |||||||||||||||||
| Total nonperforming assets | $ | 4,848 | $ | 28,465 | $ | 47,098 | ||||||||||||||
| Loan modifications to borrowers experiencing financial difficulty | $ | 16,902 | $ | 10,756 | $ | 6,467 | ||||||||||||||
| Percentage of nonperforming assets to total loans outstanding and OREO | 0.06 | % | 0.34 | % | 0.55 | % | ||||||||||||||
| Percentage of nonperforming assets to total assets | 0.03 | % | 0.18 | % | 0.31 | % | ||||||||||||||
| Allowance for credit losses to nonperforming assets | 1591.60 | % | 278.71 | % | 170.12 | % | ||||||||||||||
| Three Months Ended | Year Ended | |||||||||||||||||||
| December 31, 2025 | September 30, 2025 | December 31, 2024 | 2025 | 2024 | ||||||||||||||||
| Allowance for credit losses: | ||||||||||||||||||||
| Beginning balance | $ | 79,336 | $ | 78,003 | $ | 82,942 | $ | 80,122 | $ | 86,842 | ||||||||||
| Total charge-offs | (106 | ) | (67 | ) | (64 | ) | (642 | ) | (4,408 | ) | ||||||||||
| Total recoveries on loans previously charged-off | 431 | 400 | 244 | 1,181 | 688 | |||||||||||||||
| Net recoveries (charge-offs) | 325 | 333 | 180 | 539 | (3,720 | ) | ||||||||||||||
| (Recapture of) provision for credit losses | (2,500 | ) | 1,000 | (3,000 | ) | (3,500 | ) | (3,000 | ) | |||||||||||
| Allowance for credit losses at end of period | $ | 77,161 | $ | 79,336 | $ | 80,122 | $ | 77,161 | $ | 80,122 | ||||||||||
| Net recoveries (charge-offs) to average loans | 0.004 | % | 0.004 | % | 0.002 | % | 0.006 | % | -0.043 | % | ||||||||||
| CVB FINANCIAL CORP. AND SUBSIDIARIES | ||||||||||||||||||||||||
| SELECTED FINANCIAL HIGHLIGHTS | ||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||
| (Dollars in millions) | ||||||||||||||||||||||||
| Allowance for Credit Losses by Loan Type | ||||||||||||||||||||||||
| December 31, 2025 | September 30, 2025 | December 31, 2024 | ||||||||||||||||||||||
| Allowance For Credit Losses | Allowance as a % of Total Loans by Respective Loan Type | Allowance For Credit Losses | Allowance as a % of Total Loans by Respective Loan Type | Allowance For Credit Losses | Allowance as a % of Total Loans by Respective Loan Type | |||||||||||||||||||
| Commercial real estate | $ | 61.7 | $ | 65.4 | $ | 66.2 | ||||||||||||||||||
| Construction | 0.6 | 0.5 | 0.3 | |||||||||||||||||||||
| SBA | 2.7 | 2.6 | 2.6 | |||||||||||||||||||||
| Commercial and industrial | 8.4 | 6.6 | 6.1 | |||||||||||||||||||||
| Dairy & livestock and agribusiness | 2.5 | 2.8 | 3.6 | |||||||||||||||||||||
| Municipal lease finance receivables | 0.3 | 0.2 | 0.2 | |||||||||||||||||||||
| SFR mortgage | 0.4 | 0.5 | 0.5 | |||||||||||||||||||||
| Consumer and other loans | 0.6 | 0.7 | 0.6 | |||||||||||||||||||||
| Total | $ | 77.2 | $ | 79.3 | $ | 80.1 | ||||||||||||||||||
| CVB FINANCIAL CORP. AND SUBSIDIARIES | |||||||||||||||||||||||
| SELECTED FINANCIAL HIGHLIGHTS | |||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||
| (Dollars in thousands, except per share amounts) | |||||||||||||||||||||||
| Quarterly Common Stock Price | |||||||||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||||||||
| Quarter End | High | Low | High | Low | High | Low | |||||||||||||||||
| March 31, | $ | 21.71 | $ | 18.22 | $ | 20.45 | $ | 15.95 | $ | 25.98 | $ | 16.34 | |||||||||||
| June 30, | $ | 20.15 | $ | 16.01 | $ | 17.91 | $ | 15.71 | $ | 16.89 | $ | 10.66 | |||||||||||
| September 30, | $ | 21.34 | $ | 18.12 | $ | 20.29 | $ | 16.08 | $ | 19.66 | $ | 12.89 | |||||||||||
| December 31, | $ | 20.70 | $ | 17.95 | $ | 24.58 | $ | 17.20 | $ | 21.77 | $ | 14.62 | |||||||||||
| Quarterly Consolidated Statements of Earnings | |||||||||||||||||||||||
| Q4 | Q3 | Q2 | Q1 | Q4 | |||||||||||||||||||
| 2025 | 2025 | 2025 | 2025 | 2024 | |||||||||||||||||||
| Interest income | |||||||||||||||||||||||
| Loans and leases, including fees | $ | 117,415 | $ | 110,825 | $ | 108,845 | $ | 109,071 | $ | 110,277 | |||||||||||||
| Investment securities and other | 38,564 | 39,287 | 35,364 | 33,931 | 37,322 | ||||||||||||||||||
| Total interest income | 155,979 | 150,112 | 144,209 | 143,002 | 147,599 | ||||||||||||||||||
| Interest expense | |||||||||||||||||||||||
| Deposits | 25,047 | 26,096 | 24,829 | 25,322 | 28,317 | ||||||||||||||||||
| Borrowings and customer repurchase agreements | 8,007 | 8,109 | 7,401 | 6,800 | 8,291 | ||||||||||||||||||
| Other | 267 | 330 | 371 | 436 | 573 | ||||||||||||||||||
| Total interest expense | 33,321 | 34,535 | 32,601 | 32,558 | 37,181 | ||||||||||||||||||
| Net interest income before provision for (recapture of) credit losses | 122,658 | 115,577 | 111,608 | 110,444 | 110,418 | ||||||||||||||||||
| (Recapture of) provision for credit losses | (2,500 | ) | 1,000 | - | (2,000 | ) | (3,000 | ) | |||||||||||||||
| Net interest income after provision for (recapture of) credit losses | 125,158 | 114,577 | 111,608 | 112,444 | 113,418 | ||||||||||||||||||
| Noninterest income | 11,193 | 13,006 | 14,744 | 16,229 | 13,103 | ||||||||||||||||||
| Noninterest expense | 61,988 | 58,576 | 57,557 | 59,144 | 58,480 | ||||||||||||||||||
| Earnings before income taxes | 74,363 | 69,007 | 68,795 | 69,529 | 68,041 | ||||||||||||||||||
| Income taxes | 19,319 | 16,421 | 18,231 | 18,425 | 17,183 | ||||||||||||||||||
| Net earnings | $ | 55,044 | $ | 52,586 | $ | 50,564 | $ | 51,104 | $ | 50,858 | |||||||||||||
| Effective tax rate | 25.98 | % | 23.80 | % | 26.50 | % | 26.50 | % | 25.25 | % | |||||||||||||
| Basic earnings per common share | $ | 0.40 | $ | 0.38 | $ | 0.37 | $ | 0.37 | $ | 0.36 | |||||||||||||
| Diluted earnings per common share | $ | 0.40 | $ | 0.38 | $ | 0.37 | $ | 0.36 | $ | 0.36 | |||||||||||||
| Cash dividends declared per common share | $ | 0.20 | $ | 0.20 | $ | 0.20 | $ | 0.20 | $ | 0.20 | |||||||||||||
| Cash dividends declared | $ | 27,180 | $ | 27,548 | $ | 27,703 | $ | 27,853 | $ | 27,978 | |||||||||||||
| CVB FINANCIAL CORP. AND SUBSIDIARIES | ||||||||||||||||||||
| SELECTED FINANCIAL HIGHLIGHTS | ||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||
| Loan Portfolio by Type | ||||||||||||||||||||
| December 31, 2025 | September 30, 2025 | June 30, 2025 | March 31, 2025 | December 31, 2024 | ||||||||||||||||
| Commercial real estate | $ | 6,574,395 | $ | 6,535,319 | $ | 6,517,415 | $ | 6,490,604 | $ | 6,507,452 | ||||||||||
| Construction | 37,812 | 29,976 | 17,658 | 15,706 | 16,082 | |||||||||||||||
| SBA | 282,371 | 266,228 | 271,735 | 271,844 | 273,013 | |||||||||||||||
| SBA - PPP | 30 | 51 | 85 | 179 | 774 | |||||||||||||||
| Commercial and industrial | 973,631 | 939,174 | 912,427 | 942,301 | 925,178 | |||||||||||||||
| Dairy & livestock and agribusiness | 431,577 | 292,963 | 233,772 | 252,532 | 419,904 | |||||||||||||||
| Municipal lease finance receivables | 59,542 | 61,383 | 63,652 | 65,203 | 66,114 | |||||||||||||||
| SFR mortgage | 281,766 | 286,111 | 288,435 | 269,493 | 269,172 | |||||||||||||||
| Consumer and other loans | 58,069 | 59,701 | 53,322 | 55,770 | 58,743 | |||||||||||||||
| Gross loans, at amortized cost | 8,699,193 | 8,470,906 | 8,358,501 | 8,363,632 | 8,536,432 | |||||||||||||||
| Allowance for credit losses | (77,161 | ) | (79,336 | ) | (78,003 | ) | (78,252 | ) | (80,122 | ) | ||||||||||
| Net loans | $ | 8,622,032 | $ | 8,391,570 | $ | 8,280,498 | $ | 8,285,380 | $ | 8,456,310 | ||||||||||
| Deposit Composition by Type and Customer Repurchase Agreements | ||||||||||||||||||||
| December 31, 2025 | September 30, 2025 | June 30, 2025 | March 31, 2025 | December 31, 2024 | ||||||||||||||||
| Noninterest-bearing | $ | 6,800,691 | $ | 7,244,968 | $ | 7,247,128 | $ | 7,184,267 | $ | 7,037,096 | ||||||||||
| Investment checking | 509,272 | 487,738 | 483,793 | 533,220 | 551,305 | |||||||||||||||
| Savings and money market | 4,185,244 | 3,809,768 | 3,669,912 | 3,710,612 | 3,786,387 | |||||||||||||||
| Time deposits | 576,775 | 581,765 | 583,990 | 561,822 | 573,593 | |||||||||||||||
| Total deposits | 12,071,982 | 12,124,239 | 11,984,823 | 11,989,921 | 11,948,381 | |||||||||||||||
| Customer repurchase agreements | 490,601 | 451,258 | 404,154 | 276,163 | 261,887 | |||||||||||||||
| Total deposits and customer repurchase agreements | $ | 12,562,583 | $ | 12,575,497 | $ | 12,388,977 | $ | 12,266,084 | $ | 12,210,268 | ||||||||||
| CVB FINANCIAL CORP. AND SUBSIDIARIES | ||||||||||||||||||||
| SELECTED FINANCIAL HIGHLIGHTS | ||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||
| Nonperforming Assets and Delinquency Trends | ||||||||||||||||||||
| December 31, 2025 | September 30, 2025 | June 30, 2025 | March 31, 2025 | December 31, 2024 | ||||||||||||||||
| Nonperforming loans | ||||||||||||||||||||
| Commercial real estate | $ | 4,186 | $ | 23,707 | $ | 24,379 | $ | 24,379 | $ | 25,866 | ||||||||||
| SBA | 21 | 3,952 | 1,265 | 1,024 | 1,529 | |||||||||||||||
| Commercial and industrial | 478 | 145 | 265 | 173 | 340 | |||||||||||||||
| Dairy & livestock and agribusiness | - | - | 60 | 60 | 60 | |||||||||||||||
| Total | $ | 4,685 | $ | 27,804 | $ | 25,969 | $ | 25,636 | $ | 27,795 | ||||||||||
| % of Total loans | 0.05 | % | 0.33 | % | 0.31 | % | 0.31 | % | 0.33 | % | ||||||||||
| Past due 30-89 days (accruing) | ||||||||||||||||||||
| Commercial real estate | $ | 2,887 | $ | 43 | $ | - | $ | - | $ | - | ||||||||||
| SBA | 30 | 42 | 3,419 | 718 | 88 | |||||||||||||||
| Commercial and industrial | 261 | - | - | - | 399 | |||||||||||||||
| Total | $ | 3,178 | $ | 85 | $ | 3,419 | $ | 718 | $ | 487 | ||||||||||
| % of Total loans | 0.04 | % | 0.00 | % | 0.04 | % | 0.01 | % | 0.01 | % | ||||||||||
| OREO | ||||||||||||||||||||
| Commercial real estate | $ | 163 | $ | 661 | $ | 661 | $ | 495 | $ | 18,656 | ||||||||||
| SFR mortgage | - | - | - | - | 647 | |||||||||||||||
| Total | $ | 163 | $ | 661 | $ | 661 | $ | 495 | $ | 19,303 | ||||||||||
| Total nonperforming, past due, and OREO | $ | 8,026 | $ | 28,550 | $ | 30,049 | $ | 26,849 | $ | 47,585 | ||||||||||
| % of Total loans | 0.09 | % | 0.34 | % | 0.36 | % | 0.32 | % | 0.56 | % | ||||||||||
| CVB FINANCIAL CORP. AND SUBSIDIARIES | ||||||||||||
| SELECTED FINANCIAL HIGHLIGHTS | ||||||||||||
| (Unaudited) | ||||||||||||
| Regulatory Capital Ratios | ||||||||||||
| Minimum Required | CVB Financial Corp. Consolidated | |||||||||||
| Capital Ratios | Plus Capital Conservation Buffer | December 31, 2025 | September 30, 2025 | December 31, 2024 | ||||||||
| Tier 1 leverage capital ratio | ||||||||||||
| Common equity Tier 1 capital ratio | ||||||||||||
| Tier 1 risk-based capital ratio | ||||||||||||
| Total risk-based capital ratio | ||||||||||||
| Tangible common equity ratio | ||||||||||||
| Tangible Book Value Reconciliations (Non-GAAP) | ||||||||||||
| The tangible book value per share is a Non-GAAP disclosure. The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company's performance. The following is a reconciliation of tangible book value to the Company stockholders' equity computed in accordance with GAAP, as well as a calculation of tangible book value per share. | ||||||||||||
| December 31, 2025 | September 30, 2025 | December 31, 2024 | ||||||||||
| (Dollars in thousands, except per share amounts) | ||||||||||||
| Stockholders' equity | $ | 2,295,224 | $ | 2,282,067 | $ | 2,186,316 | ||||||
| Less: Goodwill | (765,822 | ) | (765,822 | ) | (765,822 | ) | ||||||
| Less: Intangible assets | (5,774 | ) | (6,654 | ) | (9,967 | ) | ||||||
| Tangible book value | $ | 1,523,628 | $ | 1,509,591 | $ | 1,410,527 | ||||||
| Common shares issued and outstanding | 135,551,799 | 137,509,649 | 139,689,686 | |||||||||
| Tangible book value per share | $ | 11.24 | $ | 10.98 | $ | 10.10 | ||||||
| Return on Average Tangible Common Equity Reconciliations (Non-GAAP) | ||||||||||||||||||||
| The return on average tangible common equity is a non-GAAP disclosure. The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company's performance. The following is a reconciliation of net income, adjusted for tax-effected amortization of intangibles, to net income computed in accordance with GAAP; a reconciliation of average tangible common equity to the Company's average stockholders' equity computed in accordance with GAAP; as well as a calculation of return on average tangible common equity. | ||||||||||||||||||||
| Three Months Ended | Year Ended | |||||||||||||||||||
| December 31, 2025 | September 30, 2025 | December 31, 2024 | 2025 | 2024 | ||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||
| Net Income | $ | 55,044 | $ | 52,586 | $ | 50,858 | $ | 209,298 | $ | 200,716 | ||||||||||
| Add: Amortization of intangible assets | 881 | 1,003 | 1,163 | 4,193 | 5,324 | |||||||||||||||
| Less: Tax effect of amortization of intangible assets (1) | (260 | ) | (297 | ) | (344 | ) | (1,240 | ) | (1,574 | ) | ||||||||||
| Tangible net income | $ | 55,665 | $ | 53,292 | $ | 51,677 | $ | 212,251 | $ | 204,466 | ||||||||||
| Average stockholders' equity | $ | 2,304,085 | $ | 2,271,151 | $ | 2,213,556 | $ | 2,260,275 | $ | 2,145,665 | ||||||||||
| Less: Average goodwill | (765,822 | ) | (765,822 | ) | (765,822 | ) | (765,822 | ) | (765,822 | ) | ||||||||||
| Less: Average intangible assets | (6,176 | ) | (7,111 | ) | (10,650 | ) | (7,748 | ) | (12,571 | ) | ||||||||||
| Average tangible common equity | $ | 1,532,087 | $ | 1,498,218 | $ | 1,437,084 | $ | 1,486,705 | $ | 1,367,272 | ||||||||||
| Return on average equity, annualized (2) | 9.48 | % | 9.19 | % | 9.14 | % | 9.26 | % | 9.35 | % | ||||||||||
| Return on average tangible common equity, annualized (2) | 14.41 | % | 14.11 | % | 14.31 | % | 14.28 | % | 14.95 | % | ||||||||||
| (1) Tax effected at respective statutory rates. | ||||||||||||||||||||
| (2) Annualized where applicable. | ||||||||||||||||||||
Contact: David A. Brager
President and Chief
Executive Officer
(909) 980-4030
FAQ
What were CVB Financial's reported Q4 2025 earnings per share (EPS)?
How much net income did CVB Financial report for the full year 2025 (CVBF)?
What was CVB Financial's net interest margin (NIM) in Q4 2025 and how did it change from Q3 2025?
Did CVB Financial record any credit provision changes in Q4 2025 (CVBF)?
How did CVB Financial's net interest income perform in Q4 2025?
What balance sheet totals did CVB Financial report at December 31, 2025 (CVBF)?
