CVB Financial Corp. (holding company for Citizens Business Bank) Ranked the Third Best-Performing U.S. Public Bank by S&P Global Market Intelligence

Rhea-AI Summary

CVB Financial Corp. (NASDAQ: CVBF) has been recognized as the third best-performing public bank with assets over $10 billion in the U.S. for 2022, according to S&P Global Market Intelligence. The company was the only bank in the top 50 to outperform the industry median across all seven evaluated metrics, focusing on growth, profitability, and safety. President and CEO David A. Brager attributed this achievement to customer loyalty and the bank's strong financial position. With over $16 billion in assets, CVB Financial is one of California's largest bank holding companies, providing diverse financial services through more than 60 banking centers.

Positive

• Ranked third best-performing public bank in the U.S. for 2022 by S&P Global Market Intelligence.
• Outperformed industry median across all seven performance metrics.
• Strength and loyalty of customers cited as key factors for success.

Negative

• None.

ONTARIO, Calif., March 29, 2023 (GLOBE NEWSWIRE) -- CVB Financial Corp. (NASDAQ: CVBF), the holding company for Citizens Business Bank, was ranked by S&P Global Market Intelligence as the third best-performing public bank with assets greater than $10 billion in the United States for 2022.

S&P Global Market Intelligence recently released its annual rankings of the best-performing U.S. public banks with assets exceeding $10 billion. Ontario, Calif.-based CVB Financial Corp. was ranked third overall and was the only bank in the analysis of the top 50 U.S. public banks to score better than the industry median for all seven metrics that were considered in the ranking.

“It is a great honor to be recognized by S&P Global Market Intelligence as one of the top three banks in the country,” said David A. Brager, President and Chief Executive Officer of CVB Financial Corp. and Citizens Business Bank. “Citizens Business Bank continues to be a steady and reliable business partner to our customers, providing a wide array of financial services through various economic cycles. Our continued success can be attributed to the strength and loyalty of our customers, our solid financial position, and the dedication and talent of our associates.”

To establish its rankings, S&P Global Market Intelligence looked at the 2022 financial performance of operating U.S. public banks with total assets exceeding $10 billion as of the end of 2022. Companies were ranked based on three major categories: growth, profitability and safety and soundness.

Corporate Overview

CVB Financial Corp. (“CVBF”) is the holding company for Citizens Business Bank. CVBF is one of the 10 largest bank holding companies headquartered in California with over $16 billion in total assets. Citizens Business Bank 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 60 banking centers and 4 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.

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 differ materially from those projected. You should not place undue reliance on these statements. Factors that could cause the Company’s actual results to differ materially from those described in the forward-looking statements include, among others, changes in the U.S. economy or local, regional and global business, economic and political conditions; changes in laws or the regulatory environment, including trade, monetary and fiscal policies and laws; inflation or deflation, interest rate, market and monetary fluctuations; the effect of acquisitions we have made or may make; changes in the competitive environment, including technological changes; cybersecurity and fraud threats; changes in the commercial and residential real estate markets; threats of terrorism or military action, catastrophic events or natural disasters such as earthquakes, drought, pandemic disease, climate change and extreme weather; and unanticipated legal or regulatory proceedings. These factors also include those contained in the Company’s filings with the Securities and Exchange Commission, including the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. These forward-looking statements speak solely as of the date they are made and are based only on information then actually known to the Company’s executives who are making the associated statements. The Company does not undertake to update any forward-looking statements except as required by law.

Contact: David A. Brager

President and Chief Executive Officer

(909) 980-4030

FAQ

What is CVB Financial Corp.'s ranking among U.S. public banks for 2022?

CVB Financial Corp. was ranked as the third best-performing public bank with assets over $10 billion in the U.S. for 2022.

How many banking centers does CVB Financial Corp. operate?

CVB Financial Corp. operates more than 60 banking centers across California.

What financial metrics did CVB Financial outperform in the S&P Global ranking?

CVB Financial outperformed the industry median in all seven financial metrics evaluated by S&P Global.

What is the total asset size of CVB Financial Corp.?

CVB Financial Corp. has over $16 billion in total assets.

Who is the CEO of CVB Financial Corp.?

David A. Brager is the President and CEO of CVB Financial Corp.