Welcome to our dedicated page for Cvb Financial news (Ticker: CVBF), a resource for investors and traders seeking the latest updates and insights on Cvb Financial stock.
CVB Financial Corp (CVBF), parent company of Citizens Business Bank, provides essential banking services across California's key markets. This dedicated news hub offers investors and stakeholders centralized access to official updates and financial developments.
Track all material disclosures including quarterly earnings, regulatory filings, and strategic initiatives through verified press releases. Our curated collection simplifies monitoring of commercial lending trends, risk management practices, and market expansion efforts within California's competitive banking sector.
Discover timely updates on leadership changes, dividend declarations, and operational milestones. Bookmark this page for efficient tracking of CVBF's financial performance and industry positioning, supported by Citizens Business Bank's established reputation in business banking solutions.
CVB Financial Corp. (NASDAQ: CVBF) reported a net income of $59.3 million for Q1 2023, translating to $0.42 per share, compared to $66.2 million in Q4 2022 and $45.6 million in Q1 2022. The return on average tangible common equity stood at 20.59%, with a return on average assets of 1.47%. The net interest margin decreased to 3.45%, down from 3.69% in Q4 2022, primarily due to increased interest expenses from higher short-term borrowings. Deposits fell to $12.27 billion, a 4.77% decline compared to December 2022. The bank's total assets decreased by 1.23% to $16.27 billion.
Despite the challenges, noninterest income increased to $13.2 million, and the efficiency ratio improved to 39.50%. Management cited a focus on customer service amidst a challenging economic backdrop, projecting modest GDP growth for 2023.
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.
CVB Financial Corp. (NASDAQ: CVBF) has declared a cash dividend of $0.20 per share for Q1 2023, approved in the Board meeting on March 22, 2023. This marks the 134th consecutive cash dividend paid to shareholders, reflecting the stability of Citizens Business Bank amidst economic uncertainties. The dividend will be payable on April 19, 2023, to shareholders of record by April 5, 2023. CVBF is one of California's top bank holding companies, with over $16 billion in assets and operating more than 60 banking centers across the state.
CVB Financial Corp. (NASDAQ: CVBF) has been named the "Best Bank in America" by Forbes for the fourth time in eight years. The recognition highlights the bank's record performance, achieving the highest annual earnings in its history in 2022. President and CEO David Brager attributes this success to the dedication of employees and strong customer relationships. CVBF also maintained its Five-Star Superior rating from BauerFinancial and a BBB+ rating from Fitch Ratings. The Forbes ranking is based on metrics related to credit quality, growth, and profitability among the largest U.S. banks.
CVB Financial Corp. (NASDAQ: CVBF) reported a net income of $66.2 million, or $0.47 per share, for Q4 2022, marking an increase from $64.6 million in Q3 2022 and $47.7 million in Q4 2021. The full-year net earnings rose to $235.4 million, up 11% year-over-year. The return on average tangible common equity was a robust 23.65%, while the net interest margin expanded to 3.69%. Factors affecting these results included a provision for credit losses of $2.5 million in Q4, reflecting economic uncertainties. The bank successfully increased its noninterest income and maintained a strong efficiency ratio of 36.31%.
CVB Financial Corp. (NASDAQ: CVBF) has declared a cash dividend of $0.20 per share for Q4 2022, scheduled for payment on January 13, 2023, to shareholders of record by December 29, 2022. This marks the 133rd consecutive dividend paid, highlighting the company's strong capital and liquidity. With over $16 billion in total assets, CVBF operates Citizens Business Bank, recognized as one of the leading banks in California.
CVB Financial Corp. (NASDAQ: CVBF) announces the passing of esteemed board member Rodrigo Guerra, Jr. on November 4, 2022. Mr. Guerra was a pivotal presence on the boards since 2017, contributing significantly as Chair of the Nominating and Corporate Governance Committee and as a member of several other key committees. He was also a partner at Skadden, Arps, Slate, Meagher & Flom, LLP. The company expresses deep condolences, highlighting Mr. Guerra's invaluable insights and contributions that enhanced board effectiveness. CVBF remains a top California bank with over $16 billion in assets.
CVB Financial Corp. (NASDAQ: CVBF) reported a strong performance in Q3 2022, with net earnings reaching $64.6 million, or $0.46 per share, marking a 9% increase from Q2 2022. The net interest margin expanded to 3.46%, driven by robust loan growth of 6% and effective expense management. The annualized return on average tangible common equity was an impressive 21.34%. Notably, the company raised its quarterly dividend by 5%. However, provisions for credit losses saw a slight increase to $2.0 million due to anticipated economic challenges.
CVB Financial Corp. (NASDAQ: CVBF) has announced a cash dividend of $0.20 per share for Q3 2022, marking a $0.01 increase from the previous quarter. This dividend is set to be distributed around October 20, 2022, to shareholders of record as of October 5, 2022, representing the 132nd consecutive quarterly cash dividend. The company highlights its robust capital and liquidity, along with a history of 181 consecutive profitable quarters, affirming its commitment to shareholder returns through this dividend increase and its stock repurchase plan.
CVB Financial Corp. (NASDAQ: CVBF) reported net earnings of $59.1 million, or $0.42 per share, for Q2 2022, up from $45.6 million in Q1 2022 and $51.2 million in Q2 2021. The company achieved an annualized return on average tangible common equity of 18.67% and a net interest margin of 3.16%, reflecting strong loan growth and effective expense management. A 6% dividend increase was also announced. However, a $3.6 million provision for credit losses was recorded.
