Cvb Financial Corporation · NASDAQ:CVBF
Cvb Financial — Shareholder Meeting (May 2014)
49 slides from Cvb Financial's shareholder meeting presentation, May 23, 2014
Slide 1: 39th Annual Shareholders Meeting May 22nd 2014
39 th Annual Shareholders Meeting May 22 nd 2014 Exhibit 99.1
Slide 2: 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 3: Senior Leadership Team
Senior Leadership Team Name Position Banking Experience CVBF Service Christopher D. Myers President & CEO 30 Years 8 Years Richard C. Thomas Executive Vice President Chief Financial Officer 4 Years 3 Years James F. Dowd Executive Vice President Chief Credit Officer 37 Years 6 Years David C. Harvey E
Slide 4: Senior Leadership Team
Senior Leadership Team Name Position Banking Experience CVBF Service Ted Dondanville Senior Vice President Senior Lender 32 Years 16 Years Hector Gutierrez Senior Vice President Deputy Chief Credit Officer 32 Years 3 Years David Krebs Senior Vice President Human Resources 20 Years 11 Years James Mea
Slide 5: Senior Managers
Senior Managers Steven Caseldine SVP - Corona Manager Francene LaPoint SVP - Controller Ken Clark SVP - Riverside Manager Thomas Trine SVP - Trust Services Manager Errol Berman SVP - South Bay CBC Manager Mary Hernandez SVP - Specialty Banking Group Greg Armstrong SVP - Upland CBC Manager John Hilli
Slide 6: CVB Financial Corp.
CVB Financial Corp.
Slide 7: Slide 7
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Slide 10: CVB Financial Corp. (CVBF)
Q1 2013 Q1 2014 Total Assets: $6.3 Billion $6.9 Billion Gross Loans: $3.4 Billion $3.4 Billion Total Deposits (Including Repos): $5.2 Billion $5.7 Billion Net Income: $21.6 Million $28.7 Million Total Equity: $768 Million $809 Million Source: Q1 2014 earnings release & company filings. CVB Financial
Slide 11: Largest Banks Headquartered in California
11 CVB Financial Corp. $6,903 Largest Banks Headquartered in California Rank Name Asset Size (3/31/14) Wells Fargo $1,546,707 Union Bank $107,237 Bank of the West $67,725 First Republic Bank $44,346 City National Bank $29,718 SVB Financial $29,711 East West Bank $27,401 OneWest Bank $21,799 Cathay B
Slide 12: Bank Accomplishments & Ratings
Bank Accomplishments & Ratings 148 Consecutive Quarters of Profitability 98 Consecutive Quarters of Cash Dividends #8 Rated Bank: BankDirector Magazine Bank Performance Scorecard (August 2013) BauerFinancial Report Five Star Rating (December 2013) Fitch Rating BBB (September 2013)
Slide 13: CVB Financial Corp.
CVB Financial Corp.
Slide 14: Existing Locations
Existing Locations* Corporate Office Business Financial Centers Commercial Banking Centers CitizensTrust San Diego Opening 2014 3/31/13 3/31/14 Business Financial Centers Commercial Banking Centers CitizensTrust Locations
Slide 15: Deposits by Region
Deposits* (000’s) # of Center Locations Total Deposits (3/31/13) Total Deposits (3/31/14) Los Angeles County $1,818,916 $1,959,624 Inland Empire (Riverside & San Bernardino Counties) $1,698,844 $1,948,785 Central Valley $834,170 $870,202 Orange County $572,867 $705,761 Other $261,479 $253,216 Total
Slide 16: Non-Interest Bearing Deposits
Non-Interest Bearing Deposits
Slide 17: Total Loans
Total Loans* as of 03/31/2014 *Prior to MTM discount and loan loss reserve (Includes loans Held for Sale)
Slide 18: Loan Portfolio Composition
Loan Portfolio Composition Total Loans by Type Total Loans by Type Source: Q1 2014 earnings release & company reports |Covered & Non Covered
Slide 19: Total Loans
Total Loans* *Before deferred loan fees, discount, and loans held for sale
Slide 20: 2013 Loan Initiatives
2013 Loan Initiatives Covered and Non-Covered Loans | *Total Loan Growth for Residential RE Direct, Multifamily and Asset Based Lending
Slide 21: New/Enhanced Lending Initiatives
New/Enhanced Lending Initiatives • Agribusiness • Construction Lending • Equipment Lending/Leasing
Slide 22: CVB Financial Corp.
CVB Financial Corp.
Slide 23: Net Income
Net Income Net Income After Taxes $20.4 million FHLB prepayment charge
Slide 24: Earnings
Earnings Last four quarters = $102,654 Last four quarters = $102,654
Slide 25: Net Interest Margin
Net Interest Margin *Normalized excludes accelerated accretion on covered loans Normalized*
Slide 26: CVB Financial Corp.
CVB Financial Corp.
Slide 27: Capital Ratios
Capital Ratios * CVB Financial Corp. – Consolidated
Slide 28: Total Equity
$850,000 $809,181 $800,000 $750,000 $700,000 $650,000 $600,000 $550,000 $500,000 $450,000 $400,000 $350,000 f $300,000 (000’s) 2006 “9007 “9008 “9008 “2010 “2011 “2012 “2013 ee
Slide 29: Securities & Investments
Securities & Investments
Slide 30: Securities Portfolio $2.75 Billion
Securities Portfolio* --$2.75 Billion-- Source: Q1 earnings release. As of 3/31/2014 securities held-to-maturity were valued at approximately $1.7 million | Yield on securities represents the fully taxable equivalent *Securities Available For Sale Yield on securities portfolio = 2.67% for the 1 st Q
Slide 31: Securities Portfolio
Securities Portfolio* $2.75 Billion Mark-to-Market (Pre - tax) *Securities Available For Sale
Slide 32: CVBF Assets
CVBF Assets *Includes overnight funds held at the Federal Reserve, Interest earning - due from Correspondent Banks, other short-term money market accounts or certificates of deposit 3/31/14 $6.9 Billion 12/31/06 $6.1 Billion
Slide 33: Yield on Securities vs. Yield on Loans
Yield on Securities vs. Yield on Loans *Excluding Discount Accretion
Slide 34: CVBF Liabilities
CVBF Liabilities 12/31/06 $5.7 Billion 3/31/14 $6.1 Billion *Includes Customer Repurchase Agreements
Slide 35: May 2014 - Shareholder Update
May 2014 -Shareholder Update-
Slide 36: CVBF Stock Price
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 05/22/14
Slide 37: American Security Bank Acquisition
American Security Bank Acquisition
Slide 38: Overview of American Security Bank
Overview of American Security Bank Overview Profitability Metrics (LTM as of 12/31/13) Balance Sheet (12/31/13) Overview Profitability Metrics (LTM as of 12/31/13) Balance Sheet (12/31/13) Headquarters Newport Beach, CA Establishment Date Total Branches Net Income (S-Corp, $000s) $2,939 Net Interest
Slide 39: American Security Bank
| Clizens Business Bank American Security Bank
Slide 40: Transaction Summary & Pro Forma Assumptions
Transaction Summary & Pro Forma Assumptions • $57.0 million • 133% Tangible Equity • 4.3% Core Deposit Premium Valuation • 100% cash Consideration • May 15th, 2014 Acquisition Date Estimated Cost Savings • 5% EPS Accretion (estimated) 2015e EPS • $57.0 million • 133% Tangible Equity • 4.3% Core Depo
Slide 41: 2014 & Beyond - Our Growth Strategy
--2014 & Beyond— Our Growth Strategy
Slide 42: Our Mission
Our Mission “The mission of CVB Financial Corp. is to achieve superior performance and rank in the top 10% of all financial institutions in the nation in return on equity and return on assets. This will be achieved by delivering the finest in financial products and services through relationship bank
Slide 43: Five Core Values
Five Core Values 1. Financial Strength 2. Superior People 3. Customer Focus 4. Cost Effective Operation 5. Having Fun
Slide 44: Our Vision
Our 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.
Slide 45: 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 46: Same Store Sales, DeNovo, Acquisitions
Same Store Sales DeNovo Acquisitions --Banks— —Trust—
Slide 47: Acquisition Strategy
• Target size: $200 million to $2 billion in assets • Financial & Strategic • In-market and/or adjacent geographic market (California only) Acquisition Strategy --Banks-- --Trust/Investment-- • Target size: AUM of $200 million to $1 billion • In California --Banking Teams-- • In- market & ‘new’ mark
Slide 48: Our 2014 'Critical Few'
Our 2014 ‘Critical Few’ • • Execute on DeNovo Growth Initiatives Execute on DeNovo Growth Initiatives • • Pursue Strategic Acquisitions Pursue Strategic Acquisitions • • Quality Loan Growth Quality Loan Growth • • Provide Customer Solutions Through Technology Provide Customer Solutions Through Techn
Slide 49: Copy of presentation at www.cbbank.com
Copy of presentation at www.cbbank.com