Cvb Financial Corporation · NASDAQ:CVBF
Cvb Financial — Investor Presentation (July 2024)
60 slides from Cvb Financial's investor presentation, Jul 25, 2024
Slide 1: July 2024
Exhibit 99.1 July 2024 cbbank.com
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: $16.2 Billion ▪ Gross Loans: $ 8.7 Billion ▪ Total Deposits (Including Repos): $12.1 Billion ▪ Total Equity: $ 2.1 Billion ➢ Largest financial institution headquartered in the Inland Empire region of Southern California. Founded in 1974. 3 cbbank.com
Slide 4: Bank Accomplishments & Ratings
Bank Accomplishments & Ratings ➢ 189 Consecutive Quarters of Profitability ➢ 139 Consecutive Quarters of Cash Dividends ➢ Forbes, Best Banks in America (2016 – 2024)* ➢ Ranked #1 Forbes, Best Banks in America (2016, 2020, 2021, 2023) ➢ Ranked in S&P Global Market Intelligence’s Top 50 2024 Public Ba
Slide 5: Business Financial Centers and CitizensTrust Locations
62 Business Financial Centers 3 CitizensTrust Locations Corporate Office Business Financial Centers CitizensTrust cbbank.com
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 Model
Relationship Banking Model Customer Credit Relationship Marketing Management Manager Division (Bank) Citizens Home Agribusiness Lending Dairy & Asset Based Construction Livestock Lending Lending Real Estate Treasury SBA Government Management Services International Services CitizensTrust/ Specialty W
Slide 10: Acquisition Strategy
Acquisition Strategy Banks: ➢ Target size: $1 billion to $10 billion in assets ➢ Financial & Strategic ➢ In-market and/or adjacent geographic market (California) Banking Teams: ➢ In-market ➢ New markets cbbank.com 10
Slide 11: CVBF Balance Sheet Profile June 30, 2024
CVBF Balance Sheet Profile June 30, 2024 Deposits & Securities Assets Loans Repos Funding Cash D&L & Agri Repos 5% Time 4% 2% Others Muni Other Borrowings 7% 8% 9% 9% 13% Agency C&I 11% 11% Loans Securities $13.9B $5.2B MBS $8.7B $12.1B $16.2B 54% 32% 57% CMO 23% CRE 77% Total Deposits & Non-maturit
Slide 12: Q2 2024 Financial Highlights
Q2 2024 Financial Highlights • ROATCE = 15.51% Profitability • ROAA = 1.24% • Efficiency Ratio = 45.10% • Q2’24 Net Income = $50 million / EPS = $0.36 • NIM decreased sequentially from 3.10% to 3.05% Income Statement • Cost of funds increased sequentially from 1.31% to 1.38% • $3 million decrease in
Slide 13: Selected Ratios
Selected Ratios 2021 2022 2023 Q2’23 Q1’24 Q2’24 ROATCE 15.93% 18.85% 18.48% 18.39% 15.13% 15.51% NIM 2.97% 3.30% 3.31% 3.22% 3.10% 3.05% Cost of Deposits 0.04% 0.05% 0.41% 0.35% 0.74% 0.88% Performance Cost of Funds 0.05% 0.06% 0.83% 0.83% 1.31% 1.38% Efficiency Ratio* 41.09% 38.98% 42.00% 40.86% 4
Slide 14: Selected Highlights (Income Statement)
Selected Highlights Q2’23 Q1’24 Q2’24 ($ in Thousands) Net Interest Income $ 119,535 $ 112,461 $ 110,849 Noninterest Income 12,656 14,113 14,424 Noninterest Expense, excluding 51,853 55,326 55,083 Regulatory Assessments Regulatory Assessments 2,164 4,445 1,414 Total Noninterest Expense 54,017 59,771
Slide 15: Selected Highlights (Average Balance Sheet)
Selected Highlights Q2’23 Q1’24 Q2’24 ($ in Thousands) Average Cash & Cash Equivalents $ 525,566 $ 595,470 $ 866,747 Average Loans 8,892,413 8,824,579 8,731,587 Average Total Securities 5,689,606 5,357,708 5,206,959 Average Average Noninterest-bearing Deposits 7,823,496 7,182,718 7,153,315 Balance A
Slide 16: Pretax-Pre Provision Income
Pretax-Pre Provision Income ($ in Millions) 1.99% 1.91% 1.78% 1.70% 1.66% $82.6 $78.2 $68.8 $72.6 $66.8 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 PTPP income (Non -GAAP*) PTPP ROAA (Non-GAAP*) * We use certain non-GAAP financial measures to provide supplemental information regarding our performance. c
Slide 17: Return on Average Assets
Return on Average Assets CVBF KRX 1.9% 1.8% 1.8% 1.8% 1.8% 1.6% 1.5% 1.5% 1.5% 1.5% 1.4% 1.4% 1.4% 1.4% 1.4% 1.4% 1.3% 1.3% 1.3% 1.2% 1.2% 1.2% 1.2% 1.4% 1.4% 1.4% 1.4% 1.3% 1.3% 1.3% 1.3% 1.3% 1.1% 1.3% 1.3% 1.2% 1.1% 1.1% 1.1% 1.1% 1.1% 1.0% 0.9% 0.9% 0.7% 0.6% Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 18: Return on Average Tangible Common Equity
Return on Average Tangible Common Equity CVBF KRX 23.7% 21.4% 20.2% 19.5% 18.9% 18.8% 18.5% 18.5% 18.3% 19.8% 16.7% 16.5% 16.3% 18.3% 16.1% 16.0% 15.8% 15.4% 15.3% 15.0% 15.1% 14.7% 16.4% 16.1% 14.0% 15.5% 13.7% 15.7% 15.5% 15.1% 14.9% 14.7% 14.7% 14.7% 14.6% 12.5% 14.5% 12.2% 14.2% 14.1% 13.9% 13.4
Slide 19: Dividends – Consecutive Quarters
Dividends – 139 Consecutive Quarters 139 Consecutive Quarters $0.80 $0.80 $0.77 More than 30 years of cash $0.72 $0.72 $0.72 dividends since 1989 $0.56 $0.54 56.68% $0.48 $0.48 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 6/30/2024 (ann.) Dividen
Slide 20: Earnings Per Share
Earnings Per Share 189 Consecutive Quarters of $1.67 $1.59 $1.56 Profitability since 1977 $1.48 $1.41 $1.30 $1.24 $0.95 $0.94 $0.93 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 cbbank.com 20 • Annualized based on YTD Q2’24 EPS. ANNUALIZED*
Slide 21: Strong Capital Ratios
Strong Capital Ratios CVBF CET1 % KRX Avg CET1 % Regulatory Min. 15.3% 15.0% 14.6% 14.4% 14.1% 13.8% 13.5% 13.6% 13.4% 12.2% 12.2% 11.8% 12.1% 11.8% 11.9% 11.7% 11.8% 7.0% 7.0% 7.0% 7.0% 7.0% 7.0% 7.0% 7.0% 7.0% Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Capital Ratios 1
Slide 22: CET1 Ratio Trend
CET1 Ratio Trend (%) CVBF KRX Suncrest & 15.3% ASR Program 15.1% 15.0% 14.9% Community 14.9% 14.9% 14.8% Q1’22 14.8% 14.6% Bank Q3’18 14.6% 14.6% 14.5% 14.4% 14.3% 14.1% 14.1% 13.8% 13.8% 13.6% 13.6% 13.4% 13.5% 13.0% 12.9% 12.8% 12.8% 12.8% 12.5% 12.5% 12.20% 12.2% 12.2% 12.1% 12.1% 12.1% 12.0% 12.
Slide 23: TCE Ratio Trend
TCE Ratio Trend (%) CVBF KRX Community 12.2% Bank Q3’18 11.8% 11.7% 11.3% 11.1% 10.5% 10.2% 9.8% 9.6% 9.6% 9.4% ASR program: 9.2% 9.2% 9.7% ~3mm shares 9.7% 8.9% 9.6% 8.7% 9.4% 9.3% 8.5% 9.2% 9.2% 8.3% 9.0% 8.9% 8.8% 8.8% 8.7% 8.7% 8.6% 7.8% 7.9% 7.8% 7.7% 7.5% 7.4% 8.1% 8.1% 7.7% 7.1% 7.5% 7.5% 7.5
Slide 24: Loan Composition
Loan Composition Q2 2023 Q2 2024 CRE OO CRE OO 28% 28% C&I C&I Total CRE Total CRE 11% 11% 78% 77% D&L and Agribus. D&L and Agribus. 4% 3% Other Other 8% 8% CRE NOO CRE NOO 50% 49% cbbank.com 24
Slide 25: Loan Trends – Quarterly Averages
Loan Trends – Quarterly Averages ($ in Millions) $1,015 C&I CRE $7,098 $7,013 $1,003 $6,958 $6,895 $996 $6,844 $990 $963 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 D&L and Agribus. Other $381 $381 $363 $933 $332 $312 $920 $913 $913 $900 Q2 2023 Q3 2023 Q4 2023 Q1
Slide 26: Line Utilization Trends
Line Utilization Trends 81% 80% 78% 74% 68% 66% 52% 51% 50% 48% 47% 45% 45% 41% 33% 32% 31% 29% 29% 29% 27% Total D&L C&I cbbank.com 26 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2
Slide 27: ACL Nine Quarter Trend
ACL Nine Quarter Trend ($ in Millions) $3.4 $1.5 $1.5 $1.0 $5.9 $0.0 $0.0 $85.6 $85.5 $1.1 $85.0 $84.1 $82.8 $82.8 $6.4 $81.5 $80.9 $73.8 1.00% 0.98% 0.98% 0.97% 0.95% 0.94% 0.94% 0.94% 0.92% Specific Reserve Performing Loans ACL Coverage Ratio Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023
Slide 28: Classified Loan Trend
Classified Loan Trend $124.73 ($ in Millions) $4.04 $15.16 $103.08 $102.20 $4.68 $3.97 $3.57 $92.25 $2.56 Other* $2.52 $4.95 $3.30 $3.34 $2.74 $77.83 $5.20 SFR mortgage $2.11 $53.75 SBA $12.94 $46.81 $47.48 $34.63 $5.99 Dairy & livestock and agribusiness $17.34 Commercial and industrial CRE - Non-ow
Slide 29: Net Charge-Offs / Average Loans
Net Charge-Offs / Average Loans (%) CVBF KRX 0.08% 0.06% 0.06% 0.06% 0.05% 0.05% 0.05% 0.05% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.03% 0.03% 0.03% 0.03% 0.03% 0.02% 0.02% 0.02% 0.01% 0.01% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.0
Slide 30: Classified Loans / Total Loans
Classified Loans / Total Loans (%) CVBF KRX 2.1% 2.1% 2.0% 1.9% 1.8% 1.8% 1.6% 1.6% 1.6% 1.6% 1.5% 1.5% 1.5% 1.5% 1.5% 1.5% 1.4% 1.4% 1.4% 1.4% 1.3% 1.2% 1.2% 1.2% 1.2% 1.2% 1.1% 1.0% 1.0% 1.0% 0.9% 0.9% 0.9% 0.9% 0.9% 0.8% 0.8% 0.8% 0.8% 0.7% 0.7% 0.7% 0.7% 0.7% 0.6% 0.6% 0.6% * Source: S&P Capital
Slide 31: Commercial Real Estate Loans
Commercial Real Estate Loans Collateral Type Owner/Non-Owner Occupied Other RE Rental Medical and Leasing Non- Farmland 4% 3% Owner 7% 64% Industrial Other 34% 9% Multi- Family 13% Owner Retail Office 36% 14% 16% cbbank.com 31
Slide 32: CRE by Collateral
CRE by Collateral ($ in Millions) Classified % of Collateral LTV at Classified Balance Owner Avg. Size Classified (Non- Type Origination (Owner) Occupied Owner) Industrial $ 2,245 49% 50% $ 1.62 $ 14.55 $ 0.53 $ 14.02 Office 1,077 26% 55% 1.69 7.55 7.55 0.00 Retail 917 11% 48% 1.70 21.60 21.60 0.00
Slide 33: CRE by Collateral and Origination
CRE by Collateral and Origination ($ in Millions) Balance Distribution by Origination Year Average OLTV By Origination Year Collateral 2019 or 2019 or Balance 2024 2023 2022 2021 2020 2024 2023 2022 2021 2020 Type earlier earlier Industrial $ 2,245 2% 9% 20% 19% 11% 39% 42% 43% 44% 50% 49% 53% Offic
Slide 34: 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 $ 2,245 $ 200 $ 139 15% Office 1,077 143 124 25% 22% Retail 917 89 115 M
Slide 35: 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 $ 0 $ 23 $ 0 $ 0 $ 0 $ 22 $ 0 $ 0 $ 45 $20M $10M to $20M 108 101 97 88 11 85 0 25 515 $5M to $10M 428 278 138 142 159 81 65 37 1,32
Slide 36: CRE Office Loans by Major MSA
CRE Office Loans by Major MSA San Francisco County • Total Balance of $271,016 (1 loan) Los Angeles County • Total Balance of $398mm (196 loans) San Diego County • Total Balance of $89mm (24 loans) Note: Only shows the office loans that are in the major MSA. cbbank.com 36
Slide 37: Greater LA Business Density Distribution
Greater LA Business Density Distribution % of Market Description $ Loan LTV at Avg. Owner Classified Origination ($ in Thousands) Balance Loan Size Occupied West LA (HBD) $ 94,973 16% 51% $ 4,749 $ 0 Other West LA 62,621 22% 53% 2,020 0 North LA (HBD) 41,231 8% 48% 1,473 0 Other North LA 40,188 14%
Slide 38: Greater SD Business Density Distribution
Greater SD Business Density Distribution % of Area $ Loan LTV at Owner Avg. Size Classified Balance Origination ($ in thousands) Occupied Downtown SD (HBD) $ 3,744 41% 54% $ 1,248 $ 0 Other SD 85,599 0% 53% 4,076 0 • Darker shaded areas represent Higher Business Density (HBD) Total $ 89,343 2% 53% $
Slide 39: Greater SF Business Density Distribution
Greater SF Business Density Distribution % of Area $ Loan LTV at Owner Avg. Size Classified ($ in thousands) Balance Origination Occupied Downtown SF (HBD) $ 271 0% 3% $ 271 $ 0 0 0% 0% 0 0 Other SF • Darker shaded areas represent Higher Business Density (HBD) Total $ 271 0% 3% $ 271 $ 0 cbbank.com
Slide 40: C&I by Industry
C&I by Industry Manufacturing: Construction: 9% Balance % of Classified 11% ($ in C&I ($ in Industry Millions) Total Millions) Real Estate Rental and Leasing $ 212 22% $ 0.15 Wholesale Trade: 9% Manufacturing 108 11% 2.91 Real Estate Rental and Leasing: Construction 83 9% 0.00 22% Wholesale Trade 82
Slide 41: Total Deposits & Customer Repos
Total Deposits & Customer Repos June 30, 2024 December 31, 2023 Total Deposits & Customer Repos Total Deposits & Customer Repos Time Time 7.0% 3% Repos Repos 2% 2% Non-maturity Non-maturity Interest-bearing Interest-bearing Noninterest-bearing 33% 32% Noninterest-bearing 59% 62% Cost of Interest-Bea
Slide 42: Diverse Deposit Base
Diverse Deposit Base Finance and Insurance 7% Consumer 26% Construction 7% Other Real Estate Other Rental and 11% Leasing 6% Title 2% Other Services (except Public Administration) 3% Public Administration 6% Retail Trade 2% Manufacturing 6% Educational Services Transportation 2% Property Management
Slide 43: Business vs Consumer Deposits
Business vs Consumer Deposits Q1 2022 Q2 2024 Non- Non- Analyzed Analyzed Business Business Accounts Accounts Consumer Consumer 35% 35% 25% 26% Analyzed Analyzed Business Business Accounts Accounts 39% 40% cbbank.com 43
Slide 44: Deposit Relationship Tenure
Deposit Relationship Tenure Q1 2022 Q4 2023 Q2 2024 Over 10 Over 10 Years Years Over 10 45% 44% Years 3 to 10 42% 3 to 10 Years Years 34% 31% 3 to 10 Years 32% Less than 3 Less than 3 Less than 3 Years Years Years 25% 23% 24% >75% of our customer deposit relationships have banked with CBB for 3 year
Slide 45: Brokered Deposits / Total Deposits
Brokered Deposits / Total Deposits (%) CVBF KRX 6.56% 6.11% 5.56% 5.55% 4.99% 4.64% 4.63% 4.58% 4.43% 4.38% 4.31% 4.10% 3.98% 3.73% 3.43% 3.39% 3.37% 2.89% 2.76% 2.52% 2.34% 2.21% 2.20% 2.11% 1.94% 1.09% 0.76% 0.76% 0.74% 0.74% 0.75% 0.72% 0.60% 0.59% 0.27% 0.27% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Slide 46: Cost of Deposits
Cost of Deposits 6.00% 5.50% CVBF KRX Fed Funds Rate 5.00% For the Last 5 Years CVBF Ranked Current rate cycle to date*: Among the 5 Lowest Cost of Deposits CVBF deposit beta =16% 4.00% of the 50 Banks in the KRX Index 3.00% 2.25% 2.19% 2.00% 0.88% 0.72% 1.00% 0.66% 0.50% 0.25% 0.19% 0.08% 0.00% Q3
Slide 47: Cost of Deposits: Monthly Trends
Cost of Deposits: Monthly Trends CVBF Cost of Deposit Detail Cost of Time Deposits Cost of Non-Maturity Deposits 3.44% CVBF Cost of Deposits 3.40% 3.17% 2.89% vs. Effective Federal Funds Rate 2.28% 2.22% 1.84% 0.71% 0.70% 0.71% 0.74% 0.67% 0.60% 0.62% 5.33% 5.33% 5.33% 5.33% 5.33% 5.33% 5.12% 5.08%
Slide 48: Net Interest Income and NIM
Net Interest Income and NIM ($ in Millions) 4.34% 4.37% 4.30% 4.18% 4.01% $123.4 $119.5 $119.4 $112.5 $110.8 3.31% 3.26% 3.22% 3.10% 3.05% 1.38% 1.31% 1.09% 0.92% 0.83% Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Earning Asset Yield Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Net Interest Margin Cost of Funds cbbank.com 48
Slide 49: Net Interest Margin Trend
Net Interest Margin Trend CVBF KRX 4.48% 4.43% 4.37% 4.34% 4.26% 4.09% 4.06% 3.71% 3.68% 3.78% 3.74% 3.69% 3.69% 3.45% 3.64% 3.63% 3.50% 3.58% 3.34% 3.33% 3.32% 3.49% 3.29% 3.27% 3.48% 3.41% 3.15% 3.12% 3.16% 3.25% 3.03% 2.96% 3.21% 3.21% 3.20% 3.17% 3.14% 2.92% 3.12% 2.89% 3.09% 3.04% 3.04% 2.98% 2
Slide 50: Appendix Non-GAAP Reconciliation
Appendix Non-GAAP Reconciliation cbbank.com
Slide 51: Loans by Type
Loans by Type C&I CRE Owner $0.96B 27.6% Commercial and industrial 11.0% Dairy & livestock and agribusiness 4.0% CRE $6.66B SFR mortgage 3.1% SBA 3.1% Municipal lease finance receivable CRE Non-Owner 0.8% 49.2% Construction 0.6% Consumer and other Other loans $1.06B 0.6% cbbank.com 51
Slide 52: Loan Trends
Loan Trends ($ in Millions) Q2 2024 vs Q2 2023 $8,907 $8,905 $8,878 $8,771 Total ($225) $8,682 3% decline $6,904 $6,843 $6,785 $6,721 $6,665 CRE ($239) 3% decline $970 $963 $956 $956 $938 C&I $0 $745 $738 $735 $710 Other ($39) $749 $413 $351 D&L and $351 Agribus. $53 $298 $352 Q2 2023 Q3 2023 Q4 202
Slide 53: Loans by Region
Loans by Region # of Average Center Total Loans Loans per % Locations (6/30/24) Location ($ in Thousands) (6/30/24) Los Angeles County 21 $ 151,263 $ 3,176,515 36.6% Central Valley and Sacramento 15 137,849 2,067,741 23.8% Orange County 10 114,030 1,140,295 13.1% Inland Empire 9 108,786 979,071 11.3
Slide 54: Economic Forecast – GDP
Economic Forecast – GDP Real GDP Growth 3.50 3.00 2.50 2.00 1.50 1.00 0.50 - (0.50) (1.00) (1.50) Q1 2024 Forecast Q2 2024 Forecast cbbank.com 54
Slide 55: Economic Forecast – Unemployment
Economic Forecast – Unemployment Unemployment Rate 6.50 6.00 5.50 5.00 4.50 Q1 2024 Forecast Q2 2024 Forecast 4.00 3.50 3.00 Q1 2024 Forecast Q2 2024 Forecast cbbank.com 55
Slide 56: Economic Forecast – CRE Price
Economic Forecast – CRE Price CRE Price Index Growth 15.00 10.00 5.00 - (5.00) (10.00) (15.00) Q1 2024 Forecast Q2 2024 Forecast cbbank.com 56
Slide 57: Deposits by Region
Deposits by Region Average # of Center Total Deposits Total Deposits Deposits per Locations (3/31/24) (6/30/24) Center (6/30/24) (6/30/24) ($ in Thousands) Los Angeles County 21 $ 4,746,731 $4,747,831 $226,087 Inland Empire 9 (Riverside & San Bernardino 3,681,925 3,632,739 403,638 Counties) Central
Slide 58: Reconciliation of PTPP Return on Average Assets (Non-GAAP)
Reconciliation of PTPP Return on Average Assets (Non-GAAP) The Pretax-pre provision income (“PTPP”) return on average assets 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 a
Slide 59: 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 60: Copy of presentation at www.cbbank.com
Copy of presentation at www.cbbank.com cbbank.com