CVB Financial (NASDAQ: CVBF) authorizes new 15M-share stock repurchase program
Rhea-AI Filing Summary
CVB Financial Corp. announced that its Board of Directors has authorized a new share repurchase program allowing the company to buy back up to 15,000,000 shares of its common stock, potentially through Rule 10b5-1 plans, open market purchases, or private transactions.
This 2026 repurchase program fully replaces the prior 2024 program, which still had 5,678,223 shares available, and will end once the full 15,000,000 shares are repurchased or five years have passed from the authorization date. CVB Financial, the holding company for Citizens Business Bank, reports more than $20 billion in total assets following its mergers with Heritage Commerce Corp and Heritage Bank of Commerce, and operates over 75 banking centers and three trust offices across California.
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Insights
CVB Financial adds a sizable five-year share repurchase authorization, replacing its 2024 plan.
CVB Financial Corp. authorized a 2026 share repurchase program for up to 15,000,000 common shares. The company may execute buybacks via Rule 10b5-1 trading plans, open market purchases, or private transactions, offering flexibility in how it manages capital over time.
The new program fully replaces the 2024 authorization, which still had 5,678,223 shares available. The board set a term that ends on the earlier of completing the 15,000,000-share capacity or five years from the June 15, 2026 authorization, so actual impact will depend on future repurchase activity.
Management links this authorization to what it calls a robust capital position and a consistent record of quality earnings. With more than $20 billion in total assets after mergers with Heritage Commerce Corp and Heritage Bank of Commerce, future disclosures in company filings will show how actively the new authorization is used.
8-K Event Classification
Key Figures
Key Terms
Rule 10b5-1 plans regulatory
bank holding company financial
Inline XBRL technical
Emerging growth company regulatory
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
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Item 8.01 Other Events.
On June 15, 2026, the Board of Directors of CVB Financial Corp. (the “Company”), the holding company for Citizens Business Bank, National Association, authorized the Company to repurchase up to 15,000,000 shares (the “Maximum Amount”) of the Company’s common stock (the “2026 Repurchase Program”), including by means of one or more Rule 10b5-1 plans or other appropriate buy-back arrangements, including open market purchases and private transactions. This 2026 Repurchase Program replaces in its entirety the Company’s previous 2024 share repurchase program under which 5,678,223 shares remained available for repurchase and which has now been terminated. The 2026 Repurchase Program terminates on the earlier of the repurchase of the Maximum Amount or five years from the date of authorization.
A copy of the press release relating to the 2026 Repurchase Program, dated June 15, 2026, is included as Exhibit 99.1 hereto and is hereby incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No Description
99.1 Press Release of CVB Financial Corp, dated June 15, 2026
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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CVB FINANCIAL CORP. |
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June 15, 2026 |
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/s/ E. Allen Nicholson |
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E. Allen Nicholson |
Exhibit 99.1
Press Release |
Contact: David A. Brager |
For Immediate Release |
Chief Executive Officer |
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(909) 980-4030 |
CVB Financial Corp. Announces Authorization of 15 Million Share Repurchase Plan
Ontario, CA, June 15, 2026 - CVB Financial Corp. (NASDAQ: CVBF) announced that at a meeting on June 15, 2026, the Board of Directors of CVB Financial Corp. (the “Company”), the holding company for Citizens Business Bank, National Association, authorized the Company to repurchase up to 15,000,000 shares of the Company’s common stock (the “2026 Repurchase Program”), including by means of one or more Rule 10b5-1 plans or other appropriate buy-back arrangements, including open market purchases and private transactions.
“The approval of this share repurchase program reflects our robust capital position, consistent track record of producing quality earnings, and history of delivering long term value to our shareholders,” said David A. Brager, Chief Executive Officer.
This 2026 Repurchase Program replaces in its entirety the Company’s previous 2024 share repurchase program under which 5,678,223 shares remained available for repurchase.
Corporate Overview
CVB Financial Corp. (“CVBF”) is the holding company for Citizens Business Bank, National Association. CVBF is one of the ten largest bank holding companies headquartered in California with more than $20 billion in total assets as of the closing of the mergers with Heritage Commerce Corp and its principal banking subsidiary, Heritage Bank of Commerce. Citizens Business Bank, National Association, is consistently recognized as one of the top performing banks in the nation and offers a wide array of banking, lending and investing services, with more than 75 banking centers and three trust office locations serving California.
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.