Cvb Financial Corporation · NASDAQ:CVBF
Cvb Financial — Shareholder Meeting (May 2017)
53 slides from Cvb Financial's shareholder meeting presentation, May 18, 2017
Slide 1: 42nd Annual Shareholders Meeting May 17th 2017
42nd Annual Shareholders Meeting May 17th 2017 Exhibit 99.1
Slide 2: Retirement
CVB Financial Corp. Retirement
Slide 3: Retiring Director Robert Jacoby
Retiring Director Robert Jacoby 12 Years as a Director CVB Financial Corp
Slide 4: 42nd Annual Shareholders Meeting May 17th 2017
42nd Annual Shareholders Meeting May 17th 2017
Slide 5: Safe Harbor
Safe Harbor Certain matters set forth herein (including the exhibits hereto) constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including forward-looking statements relating to the Company's current business plans and expectations regard
Slide 6: Senior Leadership Team
Senior Leadership Team Name Position Banking Experience CVBF Service Christopher D. Myers President & CEO 32 Years 11 Years E. Allen Nicholson Executive Vice President Chief Financial Officer 21 Years 1 Year Dave F. Farnsworth Executive Vice President Chief Credit Officer 33 Years 1 Year David C. Ha
Slide 7: Senior Leadership Team
Senior Leadership Team Name Position Banking Experience CVBF Service Hector Gutierrez Senior Vice President Deputy Chief Credit Officer 34 Years 6 Years David Krebs Senior Vice President Human Resources 23 Years 14 Years James Mead Senior Vice President Inland Empire 41 Years 24 Years Michael Mulcah
Slide 8: Senior Managers
Senior Managers Name Position Name Position Greg Burwell SVP |Credit Administrator Steve Hill SVP |Private Client Advisor Mike Duran SVP |Brea BFC Francene LaPoint SVP |Controller Rich Favor SVP |Credit Administrator Frank Rozario SVP |Corona BFC Bryan Gutierrez SVP | Santa Ana BFC LaVon Short SVP |
Slide 9: In Memory John Borba
In Memory John Borba Founding Director 1974-2012
Slide 10: In Memory San Vaccaro
In Memory San Vaccaro Director 1999-2016
Slide 11: CVB Financial Corp.
CVB Financial Corp.
Slide 12: CVB Financial Corp. at a glance
Total Assets: $8.6 Billion Gross Loans: $4.6 Billion Total Deposits (Including Repos):$7.4 Billion Total Equity: $1.0 Billion Source: Q1 2017 earnings release & company filings CVB Financial Corp. (CVBF) Largest financial institution headquartered in the Inland Empire region of Southern California.
Slide 13: Largest Bank Holding Companies Headquartered in California
Largest Bank Holding Companies Headquartered in California In millions Rank Name Asset Size (3/31/17) 1 Wells Fargo & Company $1,951,564 2 First Republic Bank* $76,504 3 SVB Financial Group $46,413 4 East West Bancorp $35,342 5 PacWest Bancorp $21,927 6 Cathay General Bancorp $14,224 7 Hope Bancorp,
Slide 14: Forbes 2016
Forbes | 2016 BES KS IN AMERICA DD C I TI Z ENS © 2016, Forbes Media LLC. Used With Permission pe Petes BANK -bbank.c Financial Services Company Desasvesnp rons tense _
Slide 15: Forbes 2017
® CITIZENS Forbes |2017 Gs BUSINESS BANK BEST BANKS inane ial Services Company IN AMERICA
Slide 16: Other Bank Accomplishments & Ratings
*As ranked among domestic banks with $5 to $50 billion in assets Other Bank Accomplishments & Ratings 160 Consecutive Quarters of Profitability 110 Consecutive Quarters of Cash Dividends Ranked Top 5 Bank in US three consecutive years* Bank Director, 2016 Bank Performance Scorecard (July 12, 2016) B
Slide 17: Our Markets
CVB Financial Corp. Our Markets
Slide 18: Existing Locations
Existing Locations 3/31/16 3/31/17 Banking Centers 52 54 CitizensTrust Locations 3 3 Corporate Office Banking Centers CitizensTrust
Slide 19: What's New
CVB Financial Corp. What's New
Slide 20: Three Areas of Growth
Three Areas of Growth Acquisitions San Diego (2014) Oxnard (2015) American Security Bank (2014) County Commerce Bank (2016) Santa Barbara (2015) Valley Business Bank (March 2017)
Slide 21: Valley Business Bank March 10, 2017
Valley Business Bank March 10, 2017
Slide 22: Citizens Business Bank Valley Business Bank
Citizens Business Bank Valley Business Bank
Slide 23: Valley Business Bank Acquisition Overview
Valley Business Bank ‘VCBP’ Acquisition Date: March 10, 2017 Overview VCBP Balance Sheet (000’s) 3/10/17 Headquarters Visalia, CA Establishment Date 1995 Total Branches 4 Total Assets $406,100 Total Loans $309,700 Total Deposits $361,800 Acquisition Price = $60.8 Million
Slide 24: 2017 De Novo
2017 De Novo San Diego (Downtown) Loan Production Office Stockton Loan Production Office
Slide 25: Financial Results
CVB Financial Corp. Financial Results
Slide 26: Deposits by Region
Deposits* (000’s) # of Center Locations Total Deposits (3/31/16) Total Deposits (3/31/17) Los Angeles County 18 $2,426,131 $2,740,604 Inland Empire (Riverside & San Bernardino Counties) 9 $1,966,085 $2,092,191 Central Valley 12 $914,646 $1,225,790 Orange County 9 $970,405 $1,042,834 Central Coast 5
Slide 27: Total Deposits
*Interest Bearing Deposits includes REPOs Total Deposits* (000’s) 3 Year CAGR 8.9% 3 Year CAGR 14.2%
Slide 28: Total Loans by Region
(000’s) # of Center Locations Total Loans* (3/31/16) Total Loans* (3/31/17) Los Angeles County 18 $1,633,168 $1,627,428 Central Valley 12 $720,861 $1,003,621 Inland Empire (Riverside & San Bernardino Counties) 9 $662,519 $710,968 Orange County 9 $515,269 $576,602 Central Coast 5 $311,335 $323,006 Sa
Slide 29: Total Loans
Total Loans* 29 (000’s) *Starting in the 4th quarter of 2014, covered and non-covered loans are combined (Purchase Credit Impaired or PCI) Before deferred loan fees, discount on PCI loans, and loans held-for-sale Includes covered and non-covered loans for all periods presented cbbank.com
Slide 30: Loan Portfolio Composition
Loan Portfolio Composition Total Loans by Type Source: Q1 2017 earnings release & company reports
Slide 31: Loans: Net Charge-Offs
Loans: Net Charge-Offs* (000’s) - *Non-Covered | Starting in the 4th quarter of 2014, covered and non-covered loans are combined
Slide 32: Profits
CVB Financial Corp. Profits
Slide 33: Net Income
Net Income (000’s) Net Income After Taxes $28,504
Slide 34: Securities & Investments
CVB Financial Corp. Securities & Investments
Slide 35: Securities Portfolio
$2.27 Billion *Available For Sale Yield on securities portfolio = 2.46% for the 1st Quarter 2017 Securities Portfolio* - $3.2 Billion $885.1 Million *Held to Maturity Source: Q1 2017 earnings release | Yield on securities represents the fully taxable equivalent
Slide 36: Available For Sale Securities Portfolio
*Available For Sale Securities Only Securities Portfolio* - $2.27 Billion (000’s) $15,799 Mark-to-Market (Pre-tax)
Slide 37: Efficiency & Expenses
CVB Financial Corp. Efficiency & Expenses
Slide 38: Efficiency Ratio
Efficiency Ratio* 46.01% $20.4 million FHLB prepayment charge $13.9 million FHLB prepayment charge *Efficiency Ratio: Noninterest expense divided by net interest income before provision for loan losses plus noninterest income.
Slide 39: Non-Interest Expense as a % of Average Assets
Non-Interest Expense as a % of Average Assets 1.70% $20.4 million FHLB prepayment charge $13.9 million FHLB prepayment charge
Slide 40: Capital
CVB Financial Corp. Capital
Slide 41: Capital Ratios
Capital Ratios Adequately Capitalized Ratio Well-Capitalized Ratio March 31, 2017* Tier 1 Risk-based Capital Ratio 6.0% 8.0% 16.7% Total Risk-based Capital Ratio 8.0% 10.0% 17.9% Common Equity Tier 1 Capital Ratio 4.5% 6.5% 16.2% Tier 1 Leverage Ratio 4.0% 5.0% 11.7% * CVB Financial Corp. – Consolid
Slide 42: CitizensTrust
CVB Financial Corp. CitizensTrust
Slide 43: CitizensTrust
CitizensTrust 2014* 2015* 2016* Assets Under Administration and Management $2.4 Billion $2.4 Billion $2.7 Billion Gross Income (full year) $8.1 Million $8.6 Million $9.6 Million *As of 12/31/14, 12/31/15 and 12/31/16
Slide 44: May 2017 Shareholder Update
May 2017 -Shareholder Update-
Slide 45: CVBF Stock Price at Shareholders Meetings
CVBF Stock Price $10.38 Shareholders Meeting 05/18/10 $9.22 Shareholders Meeting 05/18/11 $11.35 Shareholders Meeting 05/15/13 $6.56 Shareholders Meeting 05/13/09 $11.07 Shareholders Meeting 05/16/12 $14.62 Shareholders Meeting 05/22/14 $21.62 05/16/17 Average annual increase since May ’09 = 18% $16
Slide 46: CVBF Stock Performance
‘CVBF’ Stock Performance 32.64% 21.49% 12.75% 10.91% 05/16/17
Slide 47: Our Growth Strategy
CVB Financial Corp. Our Growth Strategy
Slide 48: Our Vision
Our Vision Citizens Business Bank will strive to become the premier financial services company operating throughout the state of California, servicing the comprehensive financial needs of successful small to medium sized businesses and their owners.
Slide 49: Target Customer
Target Customer The best privately-held and/or family-owned businesses throughout California Annual revenues of $1-200 million Top 25% in their respective industry Full relationship banking Build 20-year relationships
Slide 50: Acquisition Strategy
Acquisition Strategy Target size: $200 million to $4 billion in assets Financial & Strategic In-market and/or adjacent geographic market (California) --Banks-- --Banking Teams-- In-market & ‘new’ markets
Slide 51: 2017 'Critical Few'
2017 ‘Critical Few’ Broaden Our Geographic Footprint Quality Loan Growth Expand Commercial Banking Enhance Cybersecurity Build Our Infrastructure For Tomorrow
Slide 52: Thank You!
Copy of presentation at www.cbbank.com Thank You!
Slide 53: 42nd Annual Shareholders Meeting May 17th 2017
42nd Annual Shareholders Meeting May 17th 2017