Cvb Financial Corporation · NASDAQ:CVBF
Cvb Financial — Q2 2025 Earnings Presentation
54 slides from Cvb Financial's earnings presentation, Jul 24, 2025
Slide 1: CVB Financial Corp. July 2025
CVB Financial Corp. July 2025
Slide 2: Forward Looking Statements
Forward Looking Statements 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 manageme
Slide 3: CVB Financial Corp. (CVBF)
CVB Financial Corp. (CVBF) Total Assets: $15.4 Billion Gross Loans: $ 8.4 Billion Total Deposits (Including Repos): $12.4 Billion Total Equity: $ 2.2 Billion Largest financial institution headquartered in the Inland Empire region of Southern California. Founded in 1974. cbbank.com 3
Slide 4: Bank Accomplishments & Ratings
Bank Accomplishments & Ratings 193 Consecutive Quarters or over 48 Years of Profitability 143 Consecutive Quarters of Cash Dividends Forbes, Best Banks in America (2016 – 2025)* Ranked #1 Forbes, Best Banks in America (2016, 2020, 2021, 2023) Ranked in S&P Global Market Intelligence’s Top
Slide 5: 62 Business Financial Centers 3 CitizensTrust Locations
62 Business Financial Centers 3 CitizensTrust Locations Corporate Office Business Financial Centers CitizensTrust cbbank.com 5
Slide 6: 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. cbbank.com 6
Slide 7: Target Customer
Target Customer The best privately-held and/or family-owned businesses throughout California Annual revenues of $1-300 million Top 25% in their respective industry Full relationship banking Build long-term relationships cbbank.com 7
Slide 8: Three Areas of Growth
Three Areas of Growth DeNovo Acquisitions San Diego (2014) American Security Bank (2014) Oxnard (2015) County Commerce Bank (2016) Santa Barbara (2015) Valley Business Bank (2017) San Diego (2017) Community Bank (2018) Stockton (2018) Suncrest Bank (2022) Modesto (2020) cbbank.com 8
Slide 9: Relationship Banking Strategy
Relationship Banking Strategy Customer Credit Marketing Management Division Relationship Manager (Bank) Agribusiness Citizens Home Construction Lending Lending Specialty Asset Based Banking Treasury International Real Estate Lending Management Banking Dairy & Government Citizens CitizensTrust Livest
Slide 10: Acquisition Strategy
Acquisition Strategy Banks: Target size: $1 billion to $10 billion in assets Financial & Strategic In-market and new geographic markets Banking Teams: In-market New markets cbbank.com 10
Slide 11: CVBF Balance Sheet Profile
CVBF Balance Sheet Profile June 30, 2025 Deposits & Assets Securities Loans Funding Repos Cash D&L & Agri Borrowings Repos 5% 3% Others Time 4% Muni 3% Other 5% 10% 8% 10% Agency C&I 11% 11% Securities $15.4B Loans $4.8B MBS $8.4B $12.4B $12.9B 31% 54% 56% CMO 23% CRE 78% Total Deposits & Non-maturi
Slide 12: Q2 2025 Financial Highlights
Q2 2025 Financial Highlights • ROATCE = 14.08% Profitability • ROAA = 1.34% • NIM = 3.31% • Efficiency Ratio = 45.6% • Q2’25 Net Income = $51 million / EPS = $0.36 Income Statement • PPNR = $68.8 million / $1.3 million higher than Q1’25 • Deposits & Customer Repos increased $123 million from 3/31/25
Slide 13: Selected Ratios
Selected Ratios 2022 2023 2024 Q2’24 Q1’25 Q2’25 ROATCE* 18.85% 18.48% 14.95% 15.51% 14.51% 14.08% NIM 3.30% 3.31% 3.09% 3.05% 3.31% 3.31% Cost of Deposits 0.05% 0.41% 0.88% 0.88% 0.86% 0.84% Performance Cost of Funds 0.06% 0.83% 1.32% 1.38% 1.04% 1.03% Efficiency Ratio 38.98% 42.00% 46.55% 45.10% 4
Slide 14: Selected Highlights
Selected Highlights ($ in Thousands) Q2’24 Q1’25 Q2’25 Net Interest Income $ 110,849 $110,444 $111,608 Noninterest Income 14,424 16,229 14,744 Noninterest Expense, excluding 55,083 57,127 55,539 Regulatory Assessments Regulatory Assessments 1,414 2,017 2,018 Total Noninterest Expense 56,497 59,144 5
Slide 15: Selected Highlights
Selected Highlights Q2’24 Q1’25 Q2’25 ($ in Thousands) Average Cash & Cash Equivalents $ 866,747 $ 315,760 $ 486,741 Average Loans 8,731,587 8,467,465 8,354,898 Average Total Securities 5,206,959 4,908,718 4,847,415 Average Average Noninterest-bearing Deposits 7,153,315 7,006,357 7,051,702 Balance A
Slide 16: Earnings Per Share
Earnings Per Share 193 Consecutive Quarters More than 48 Years of $1.67 Profitability since 1977 $1.56 $1.59 $1.48 $1.44 $1.44 $1.30 $1.24 $0.93 $0.94 $0.95 ANNUALIZED* 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 cbbank.com 16
Slide 17: Dividends – Consecutive Quarters
Dividends – 143 Consecutive Quarters 143 Consecutive Quarters More than 35 years of cash $0.80 $0.80 $0.80 dividends since 1989 $0.77 $0.72 $0.72 $0.72 $0.56 $0.54 54.79% $0.48 $0.48 56.84% 50.42% ANNUALIZED* 51.06% 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2
Slide 18: Net Interest Income and NIM
Net Interest Income and NIM ($ in Millions) 4.24% 4.28% 4.28% $113.6 $111.6 4.37% 4.43% $110.8 $110.4 $110.4 3.31% 3.31% 3.18% 3.05% 3.05% 1.47% 1.38% 1.13% 1.04% 1.03% Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Earning Asset Yield Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Net Interest Margin Cost of Funds cbbank.com 18
Slide 19: Net Interest Margin Trend
Net Interest Margin Trend CVBF KRX 4.26% 3.71% 3.58% 3.63% 3.34% 3.31% 3.31% 3.27% 3.24% 3.26% 3.19% 3.15% 3.30% 3.21% 3.18% 3.17% 2.92% 3.09% 3.04% 3.05% 2.79% 4Q'19 4Q'20 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 cbbank.com * Source: As calculated by S&P Capital IQ. Unweighted Average
Slide 20: Return on Average Assets
Return on Average Assets CVBF KRX 1.8% 1.6% 1.4% 1.4% 1.3% 1.3% 1.2% 1.2% 1.2% 1.2% 1.2% 1.4% 1.3% 1.2% 1.1% 1.0% 1.0% 1.0% 0.9% 0.9% 0.6% 4Q'19 4Q'20 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 cbbank.com * Source: As calculated by S&P Capital IQ. Unweighted Average NASDAQ Regional Bankin
Slide 21: Return on Average Tangible Common Equity
Return on Average Tangible Common Equity CVBF KRX 23.7% 19.8% 16.5% 16.3% 15.8% 15.4% 15.0% 14.9% 14.3% 14.5% 14.0% 14.1% 14.5% 14.1% 13.4% 12.1% 12.5% 12.2% 12.3% 11.4% 9.7% 4Q'19 4Q'20 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 cbbank.com * Source: As calculated by S&P Capital IQ. Unwei
Slide 22: CET1 Ratio Trend (%)
CET1 Ratio Trend (%) CVBF KRX 16.4% 16.5% 16.5% 16.2% 15.8% ASR / Suncrest CB Acquisition 15.3% Acquisition 14.8% 14.9% 15.0% 14.8% 14.7% 13.6% 13.0% 12.8% 12.8% 12.5% 12.5% 12.6% 12.2% 12.2% 12.3% 12.0% 12.1% 11.8% 11.8% 4Q'17 4Q'18 4Q'19 4Q'20 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25
Slide 23: TCE Ratio Trend (%)
TCE Ratio Trend (%) CVBF KRX CB Acquisition 12.2% 11.6% 10.5% 10.0% 10.0% ASR / Suncrest 9.8% Acquisition 9.7% 9.6% 9.2% 9.7% 8.7% 9.1% 9.3% 8.5% 9.0% 8.3% 8.8% 8.6% 8.6% 8.6% 7.4% 8.1% 8.2% 8.1% 7.4% 4Q'17 4Q'18 4Q'19 4Q'20 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 cbbank.com * Source:
Slide 24: Total Deposits & Customer Repos
Total Deposits & Customer Repos December 31, 2024 June 30, 2025 Total Deposits & Customer Repos Total Deposits & Customer Repos Repos Repos Time Time 2% 3% 5% 5% Non-maturity Interest-bearing Non-maturity Noninterest-bearing 34% Noninterest-bearing Interest-bearing 58% 59% 35% Cost of Interest-Beari
Slide 25: Deposit & Repo Quarterly Avg. Trends
Deposit & Repo Quarterly Avg. Trends Billions $12.42 $12.57 $12.17 $12.19 $12.18 $0.36 $0.46 $0.29 $0.32 $0.38 $0.73 $0.74 $0.62 $0.56 $0.57 $4.00 $4.19 $4.38 $4.30 $4.18 $7.15 $7.12 $7.12 $7.00 $7.05 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Noninterest-bearing Non-maturity IB Deposits Time Deposits Customer R
Slide 26: Cost of Deposits
Cost of Deposits 6.00% CVBF KRX Fed Funds Rate 5.00% For the Last 5 Years CVBF Ranked Among the 5 Lowest Cost of Deposits of the 50 Banks in the KRX Index 4.50% 4.00% 3.00% 2.19% 2.34% 2.02% 2.00% 0.82% 0.98% 0.84% 1.00% 0.03% 0.25% 0.11% 0.21% 0.00% Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q
Slide 27: Cost of Deposits: Monthly Trends
Cost of Deposits: Monthly Trends CVBF Cost of Deposit Detail Cost of Non-Maturity Deposits Cost of Time Deposits 3.50% 3.52% 3.24% 3.15% 2.87% 2.84% 2.88% 2.87% 2.78% 2.76% 2.75% 2.73% CVBF Cost of Deposits vs. Effective Federal Funds Rate .75% .85% .88% .84% .81% .81% .77% .77% .76% .74% .75% .75%
Slide 28: Loans by Type
Loans by Type C&I CRE Owner 27.4% $0.91B Commercial and industrial 10.9% SFR mortgage 3.4% CRE $6.52B SBA 3.3% Dairy & livestock and agribusiness 2.8% Municipal lease finance receivable 0.8% CRE Non-Owner 50.6% Consumer and other loans Construction 0.6% Other 0.2% $0.93B cbbank.com 28
Slide 29: Loan Trends – Quarterly Averages
Loan Trends – Quarterly Averages ($ in Millions) CRE C&I $1,003 $1,001 $6,844 $6,788 $995 $6,700 $6,664 $6,655 $981 $970 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 D&L and Agribus. Other $363 $372 $352 $340 $247 $900 $853 $862 $854 $854 Q2 2024 Q3 2024 Q4 2024 Q1
Slide 30: Line Utilization Trends
Q1 2022 Q2 2022 47% Q3 2022 Q4 2022 51% Q1 2023 cbbank.com Q2 2023 45% Q3 2023 Q4 2023 48% Q1 2024 Total Q2 2024 45% Q3 2024 Q4 2024 49% Q1 2025 42% Q2 2025 41% Q1 2022 Q2 2022 66% Q3 2022 Q4 2022 78% Q1 2023 Q2 2023 Line Utilization Trends 68% Q3 2023 Q4 2023 D&L 80% Q1 2024 Q2 2024 74% Q3 2024 Q4
Slide 31: ACL Nine Quarter Trend
ACL Nine Quarter Trend ($ in Millions) $1.5 $3.4 $5.9 $0.0 $0.1 $85.5 $85.6 $0.0 $82.8 $82.8 $82.8 $0.1 $0.1 $80.9 $0.0 $80.0 $78.3 $77.9 1.00% 0.98% 0.98% 0.97% 0.95% 0.94% 0.94% 0.94% 0.93% Specific Reserve Performing Loans ACL Coverage Ratio Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Slide 32: Classified Loan Trend
Classified Loan Trend $124.73 $124.61 ($ in Millions) $4.04 $5.08 $15.16 $11.68 $4.68 $8.19 $94.17 $89.55 Other* $5.20 $5.59 $7.39 $0.86 SFR mortgage $9.48 $73.42 $9.28 $53.75 $8.08 SBA $64.33 $6.27 $37.60 $7.28 Dairy & livestock and $36.80 agribusiness Commercial and industrial $34.60 CRE - Non-own
Slide 33: Classified Loans / Total Loans (%)
Classified Loans / Total Loans (%) CVBF KRX 2.4% 2.3% 2.1% 2.0% 2.0% 1.8% 1.8% 1.6% 1.6% 1.5% 1.4% 1.4% 1.5% 1.2% 1.2% 1.1% 1.2% 1.1% 1.1% 1.0% 0.9% 0.9% 0.9% 0.7% 0.7% 4Q'17 4Q'18 4Q'19 4Q'20 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 cbbank.com * Source: S&P Capital IQ. Unweighted Avera
Slide 34: Net Charge-Offs / Average Loans (%)
Net Charge-Offs / Average Loans (%) CVBF KRX 0.08% 0.06% 0.06% 0.06% 0.05% 0.05% 0.05% 0.04% 0.04% 0.03% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 4Q'19 4Q'20 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 cbbank.com * Source: S&P Capital IQ. Unweighted Average NASDAQ
Slide 35: Appendix
Appendix Non-GAAP Reconciliation cbbank.com
Slide 36: Commercial Real Estate Loans
Commercial Real Estate Loans Collateral Type Owner/Non-Owner Occupied Other RE Rental Medical and Leasing Non- Farmland 5% 4% Owner 6% 65% Other Industrial 8% 34% Multi- Family 13% Retail Owner 14% Office 35% 16% cbbank.com 36
Slide 37: CRE by Collateral
CRE by Collateral ($ in Millions) % of Classified Collateral LTV at Classified Balance Owner Avg. Size Classified (Non- Type Origination (Owner) Occupied Owner) Industrial $ 2,227 46% 49% $ 1.65 $ 17.42 $ 7.70 $ 9.72 Office 1,036 28% 55% 1.69 0.00 0.00 0.00 Retail 894 11% 47% 1.72 24.83 24.83 0.00 M
Slide 38: CRE by Collateral and Origination
CRE by Collateral and Origination ($ in Millions) Balance Distribution by Origination Year Average OLTV By Origination Year Collateral 2020 or 2020 or Balance 2025 2024 2023 2022 2021 2025 2024 2023 2022 2021 Type earlier earlier Industrial $ 2,227 5% 6% 8% 19% 18% 44% 46% 42% 43% 44% 50% 52% Office
Slide 39: CRE by Collateral and Reset/Maturity
CRE by Collateral and Reset/Maturity ($ in Millions) Balance Maturing Next Rate Resets Next 24 Maturity Collateral Balance 24 months Months & Rate Reset % Type ($ in Millions) ($ in Millions) ($ in Millions) of Loans Industrial $ 2,227 $ 281 $ 137 19% Office 1,036 130 125 25% Retail 894 131 99 26% M
Slide 40: CRE by Collateral and Loan Size
CRE by Collateral and Loan Size ($ in Millions) Other RE Multi- Loan Amount Industrial Office Retail Other Farmland Medical Rental and Total Family Leasing Greater than $ 24 $ 23 $ 0 $ 0 $ 0 $ 0 $ 0 $ 52 $ 99 $20M $10M to $20M 105 111 85 86 11 54 11 14 477 $5M to $10M 464 249 152 119 140 83 62 60 1,
Slide 41: CRE Office Loans by Major MSA
CRE Office Loans by Major MSA San Francisco County • Total Balance of $54,736 (1 loan) Los Angeles County • Total Balance of $354mm (183 loans) San Diego County • Total Balance of $69mm (21 loans) Powered by Bing © GeoNames, Microsoft, TomTom Note: Only shows the office loans that are in the major M
Slide 42: Greater LA Business Density Distribution
Greater LA Business Density Distribution % of Market Description $ Loan LTV at Avg. Owner Classified ($ in Thousands) Balance Occupied Origination Loan Size West LA (HBD) $ 82,834 18% 51% $ 4,360 $ 0 Other West LA 56,811 22% 52% 1,959 0 North LA (HBD) 44,308 5% 49% 1,582 0 Other North LA 35,598 18%
Slide 43: Greater SD Business Density Distribution
Greater SD Business Density Distribution % of Area $ Loan LTV at Owner Avg. Size Classified ($ in thousands) Balance Occupied Origination Downtown SD (HBD) $ 3,651 42% 54% $ 1,217 $ 0 Other SD 65,520 2% 51% 3,640 0 • Darker shaded areas represent Higher Business Density (HBD) Total $ 69,171 4% 51% $
Slide 44: Greater SF Business Density Distribution
Greater SF Business Density Distribution % of Area $ Loan LTV at Owner Avg. Size Classified ($ in thousands) Balance Occupied Origination Downtown SF (HBD) $ 55 0% 3% $ 55 $ 0 Other SF 0 0% 0% 0 0 • Darker shaded areas represent Higher Business Density (HBD) Total $ 55 0% 3% $ 55 $ 0 cbbank.com 44
Slide 45: C&I by Industry
C&I by Industry Balance % of Classified Industry ($ in C&I ($ in Millions) Total Millions) Wholesale Trade: 9% Real Estate Rental and Manufacturing: $ 204 22% $ 0.21 Leasing 12% Manufacturing 114 12% 2.82 Wholesale Trade 79 9% 3.63 Construction: 8% Real Estate Rental and Construction 73 8% 0.00 Leas
Slide 46: Historical Deposit Growth
Historical Deposit Growth Billions $13.62 $13.40 $0.6 $0.6 $12.18 $12.21 $11.71 $0.4 $0.3 $0.3 $4.9 $4.7 $9.13 $4.3 $4.2 $4.9 Brokered $300mm $0.4 Suncrest $1.2B $3.5 Customer Repos $8.1 $8.2 $7.5 $7.2 $7.0 Interest-bearing $5.2 Noninterest-bearing Dec'19 Dec'20 Dec'21 Dec'22 Dec'23 Dec'24 Suncrest
Slide 47: Diverse Deposit Base
Diverse Deposit Base Finance and Insurance 14% Consumer 21% Other Industries 8% Construction 7% Agriculture, Forestry, Fishing and Hunting Manufacturing 2% 6% Retail Trade 2% Educational Services 3% Property Management Wholesale 6% Trade 3% Other Real Estate Rental and Leasing Health Care and Social
Slide 48: Business vs Consumer Deposits
Business vs Consumer Deposits Q2 2025 Consumer Non-Analyzed 21% Business Accounts 40% Analyzed Business Accounts 39% cbbank.com 48
Slide 49: Deposit Relationship Tenure
Deposit Relationship Tenure Q2 2025 Over 10 Years 46% 3 to 10 Years 29% Less than 3 Years 25% ~75% of our customer deposit relationships have banked with CBB for 3 years or more cbbank.com 49
Slide 50: Economic Forecast – GDP
Economic Forecast – GDP Real GDP Growth 3.50 3.00 2.50 2.00 1.50 1.00 0.50 - Q1 2025 Forecast Q2 2025 Forecast cbbank.com 50
Slide 51: Economic Forecast – Unemployment
Economic Forecast – Unemployment Unemployment Rate 6.00 5.50 5.00 4.50 4.00 3.50 3.00 Q1 2025 Forecast Q2 2025 Forecast cbbank.com 51
Slide 52: Economic Forecast – CRE Price
Economic Forecast – CRE Price CRE Price Index Growth 8.00 6.00 4.00 2.00 - (2.00) (4.00) (6.00) (8.00) Q1 2025 Forecast Q2 2025 Forecast cbbank.com 52
Slide 53: Reconciliation of Return on Average Tangible Common Equity (Non-GAAP)
Reconciliation of Return on Average Tangible Common Equity (Non-GAAP) The return on average tangible common equity is a non-GAAP disclosure. We use certain non-GAAP financial measures to provide supplemental information regarding our performance. We believe that presenting the return on average tang
Slide 54: Copy of presentation at www.cbbank.com
Copy of presentation at www.cbbank.com cbbank.com