Cvb Financial Corporation · NASDAQ:CVBF
Cvb Financial — Investor Presentation (June 2010)
26 slides from Cvb Financial's investor presentation, Jun 8, 2010
Slide 1: CVB Financial Corp.
CVB Financial Corp. Chris Myers
Slide 2: Forward-looking statements
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 plan and expectations regarding future op
Slide 3: Financial and Operating Highlights
3 Total Assets: $6.8 Billion Gross Loans: $3.9 Billion Total Deposits (Including Repos): $5.1 Billion Tang. Common Equity: $586 Million Market Capitalization: $1.1 Billion Source: Q1 2010 earnings release & company filings; Texas Ratio = (NPA's + 90 days delinquent) / (Reserves + Tang. Common Equity
Slide 4: Management and board equity ownership
4 Significant equity ownership among executive management and board of directors Total Board: 15.42%, Total Board plus 'retired' directors: 23.48% Borba family: 12.63% Edward J. Biebrich Jr. Executive Vice President 28 Years 12 Years Chief Financial Officer Todd E. Hollander Executive Vice President
Slide 5: Who is CVB Financial?
Who is CVB Financial?
Slide 6: California bank rankings by asset size
Rank Name Asset Size (3/31/10) 1 Wells Fargo $1,223,630 2 Union Bank $85,471 3 Bank of the West* $73,814 4 East West Bank $20,299 5 City National Bank $20,066 6 SVB Financial $14,125 7 Cathay Bank $11,870 8 Pacific Capital Bank $7,372 9 CVB Financial Corp $6,789 10 Pacific Western Bank $5,203 11 Wes
Slide 7: Forbes 2010 America's Best Banks
Forbes 2010 America’s Best Banks ($5 Billion @) Total Assets NPLS/Loans Reserves/ Tier 1 Rank Company ($BiL) % NPLS% ——Ratio% [cverinancat | [commun aank S| 5 7 _| Community Bank System 8 _ | Central Bancompany NBT Bancorp 1 International Bancshares
Slide 8: What are our Markets?
What are our Markets?
Slide 9: Commercial Banking Centers and Business Financial Centers
9 Commercial Banking Centers Business Financial Centers New Business Financial Centers (SJB) 44 Business Financial Centers 6 Commercial Banking Centers
Slide 10: Loans
Loans
Slide 11: Loans by region: covered and non-covered
(000's) Covered Loans* % Non-Covered Loans % Los Angeles County $20,480 3.4% $1,151,079 32.7% Inland Empire (Riverside & San Bernardino Counties) $3,199 0.5% $764,922 21.8% Orange County $7,294 1.2% $514,543 14.6% Central Valley $466,589 77.5% $612,110 17.4% Other $104,819 17.4% $474,487 13.5% Total
Slide 12: CRE and construction loan portfolio
12 As of 3/31/2010 CRE loans totaled $1.99 billion, while construction stood at $223.7 million, or 6.4% of total loans. Construction loans totaled $265.4 million at 12/31/09 Of the CRE loans on the balance sheet, 37.1% are owner-occupied $52.4 million of the construction portfolio is related to resi
Slide 13: Real estate loan portfolio composition
13 As of 3/31/2010 real estate loans totaled $2.2 billion, with the largest allocation going to industrial real estate at $656 million, or 29.2% of RE loans The weighted average owner occupied level for the RE portfolio is approximately 45% CVBF's single family residential portfolio is 100% owner oc
Slide 14: Non-performing assets and credit metrics versus peers
As of 3/31/2010 non-performing assets totaled $92 million, of which $76.8 million and $15.2 million were from non-performing loans and OREO, respectively On a peer comparison basis, CVBF's credit metrics are superior NPA's / Loans & OREO: 2.61% vs. 7.28% for peers (peers as of Q4 09) LLR / NPL's: 14
Slide 15: Loan Loss Reserves to Non-Performing Loans
Loan Loss Reserves to Non- Performing Loans* 160% 156% 155% 150% 150% ~~ 146% 146% 145% + 140% 135% 130% 125% a Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q12010 *Non-covered Loans
Slide 16: Transitioning from a Community Bank to a Regional Bank
Transitioning from a Community Bank to a Regional Bank 16
Slide 17: Citizens Business Bank vision
Citizens Business Bank will strive to become the dominant financial services company operating throughout the state of California, servicing the comprehensive financial needs of successful small to medium sized businesses and their owners. 17
Slide 18: Target customers
18 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 19: Acquisitions
19 Acquisitions - --Banks-- - --Trust- - -
Slide 20: De Novo and team acquisitions
“DeNovo” --Team Acquisitions-- As of 3/31/10 Specialty Banking Group January 2008 $123,904 San Fernando Valley CBC June 2008 $37,811 Inland Empire CBC July 2008 $19,370 South Bay CBC August 2008 $38,281 Burbank CBC: Produce January 2008 $10,760 Orange County CBC December 2009 $6 Los Angeles CBC Janu
Slide 21: Bank acquisitions
Bank Name Date Acquired Geographic Market # of Locations Total Assets (3/31/10) First Coastal Bank June 2007 South Bay 4 /3 $127,268 San Joaquin Bank October 2009 Kern County 5/4 $459,344 (000's) Total: $586,612 * *Net of MTM Discount
Slide 22: CVBF Deposit Growth
CVBF Deposit Growth $1,363,411 $3: 31 Savings/MMD, $896,988 $1,223,217 Time De, S $827,978 $1,224,073 Total Deposits $3,406,808 $4,518,599 Customer Repurchase Agreements $94,350 $535,214 Total Deposits & Customer Repurchases $3,501,158 $5,053,813
Slide 23: CVBF Balance Sheet
CVBF Balance Sheet {in millions) 12/31/06. 3/31/10 Total Assets $6,092 Total Dep: includes REPO’s cae Total Loans* $3,950 Securitie: $2,077 Borrowings 4 $907 Loan Loss Reserves/Loa Tier 1 Tangible Ratio Tier 1 Leverage Ratio Total Risk Based Capital “Covered and Non-Covered
Slide 24: Net Interest Margin
4.50% Net Interest Margin Qi @Q2 a3 @4 Qi a2 a3 a4 ai a2 a3 a4 ai 2007_ 2007 2007 2007 2008 2008 2008 2008 2009 2009 2009 2009 2010
Slide 25: Strategic priorities
25 Capital and strong Loan Loss Reserves are paramount Strong, disciplined credit underwriting/credit culture Drive low-cost deposits Multiple forms of growth (don't depend on one) Same Store Sales DeNovo Acquisitions Control our destiny; 'earn' independence from the government Focus on relationship
Slide 26: Thank you!
Thank you! Copy of Presentation: jeschaap@cbbank.com