Cvb Financial Corporation · NASDAQ:CVBF
Cvb Financial — Shareholder Meeting (May 2016)
50 slides from Cvb Financial's shareholder meeting presentation, May 23, 2016
Slide 1: 41st Annual Shareholders Meeting May 19th 2016
41st Annual Shareholders Meeting May 19th 2016 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: Executive management team
Name Position Banking Experience CVBF Service Christopher D. Myers President & CEO 32 Years 10 Years Richard C. Thomas Executive Vice President Chief Financial Officer 6 Years 5 Years James F. Dowd Executive Vice President Chief Credit Officer 39 Years 8 Years David C. Harvey Executive Vice Presiden
Slide 4: Senior Leadership Team
Senior Leadership Team Name Position Banking Experience CVBF Service Hector Gutierrez Senior Vice President Deputy Chief Credit Officer 34 Years 5 Years David Krebs Senior Vice President Human Resources 22 Years 13 Years James Mead Senior Vice President Inland Empire 41 Years 23 Years Michael Mulcah
Slide 5: Senior Managers
Senior Managers Name Position Name Position Greg Armstrong SVP |Upland CBC Steve Hill SVP | Private Client Advisor Gary Braunstein SVP | Citizens Home Lending John Hillier SVP | Specialty Banking Group Greg Burwell SVP | Credit Administrator Francene LaPoint SVP | Controller Steve Caseldine SVP | Co
Slide 6: In Memory: Charles Magistro
In Memory: Charles Magistro Founding Director of CVB Financial Corp. 1974-1999
Slide 7: Retirements
CVB Financial Corp. Retirements
Slide 8: Retiring Director: San Vaccaro
Retiring Director: San Vaccaro 17 Years as a Director of CVB Financial Corp.
Slide 9: Retiring CFO: Rich Thomas
Retiring CFO: Rich Thomas 5.5 Years as a Chief Financial Officer
Slide 10: Retiring CCO: Jim Dowd
Retiring CCO: Jim Dowd 8 Years as a Chief Credit Officer
Slide 11: CVB Financial Corp.
CVB Financial Corp.
Slide 12: CVB Financial Corp. (CVBF)
CVB Financial Corp. (CVBF) Largest financial institution headquartered in the Inland Empire region of Southern California. Founded in 1974. 3/31/15 3/31/16 Total Assets: $7.4 Billion $7.9 Billion Gross Loans: $3.7 Billion $4.2 Billion Total Deposits (Including Repos): $6.5 Billion $6.8 Billion Total
Slide 13: Largest Bank Holding Companies Headquartered in California
Largest Bank Holding Companies Headquartered in California In millions Source: SNL Financial | *Bank only, no holding company Rank Name Asset Size (3/31/16) 1 Wells Fargo & Company $1,849,182 2 First Republic Bank* $62,103 3 SVB Financial Group $43,574 4 East West Bancorp $33,109 5 Pacwest Bancorp $
Slide 14: Forbes 2016 Best Banks in America
Forbes | 2016 BEST BANKS IN AMERICA ™@® CITIZENS BUSINESS BANK A Financial Services Company ray
Slide 15: Other Bank Accomplishments & Ratings
Other Bank Accomplishments & Ratings 156 Consecutive Quarters of Profitability 106 Consecutive Quarters of Cash Dividends BauerFinancial Report Five Star Rating (December 2015) 83 Consecutive Quarters Fitch Rating BBB (September 2015)
Slide 16: Our Markets
CVB Financial Corp. Our Markets
Slide 17: Existing Locations
Existing Locations 3/31/15 3/31/16 Banking Centers 47 52 CitizensTrust Locations 3 3 Corporate Office Business Financial Centers Commercial Banking Centers CitizensTrust Ventura CBC – NEW Opened January 2015 Santa Barbara CBC– NEW Opened December 2015 New County Commerce Bank Locations *Porterville
Slide 18: What's New
CVB Financial Corp. What's New
Slide 19: County Commerce Bank February 29, 2016
County Commerce Bank February 29, 2016
Slide 20: Ventura/Santa Barbara Counties
Ventura/Santa Barbara Counties Citizens Business Bank County Commerce Bank Santa Barbara
Slide 21: County Commerce Bank 'CNYB' Acquisition
County Commerce Bank ‘CNYB’ Acquisition Date: February 29, 2016 Overview CNYB Balance Sheet (000’s) 12/31/15 Headquarters Oxnard, CA Establishment Date 2003 Total Branches 4 Total Assets $256,100 Total Loans $164,400 Total Deposits $225,800 Acquisition Price = $41.25 Million
Slide 22: New Banking Teams (2014/2015)
New Banking Teams (2014/2015) Location # of New Hires Central Valley Agribusiness 3 San Diego 5 Los Angeles 4 Oxnard 4 Santa Barbara 3 Newport Beach 6 Total 25
Slide 23: 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)
Slide 24: Financial Results
CVB Financial Corp. Financial Results
Slide 25: Deposits by region
Deposits* (000’s) # of Center Locations Total Deposits (3/31/15) Total Deposits (3/31/16) Los Angeles County 18 $2,347,804 $2,426,131 Inland Empire (Riverside & San Bernardino Counties) 9 $1,992,402 $1,966,085 Orange County 9 $907,308 $970,405 Central Valley 9 $909,278 $914,646 Ventura & Santa Barba
Slide 26: Non-Interest Bearing Deposits
Non-Interest Bearing Deposits (000’s)
Slide 27: Total Loans as of 03/31/2016
Total Loans as of 03/31/2016 (000’s) # of Center Locations Average Loans per Location Total Loans* (3/31/2016) Los Angeles County 18 $90,736 $1,633,241 Central Valley 9 $85,369 $768,318 Inland Empire (Riverside & San Bernardino Counties) 9 $73,613 $662,519 Orange County 9 $57,252 $515,269 Ventura/Sa
Slide 28: Loan Portfolio Composition
Source: Q1 2016 earnings release & company reports Loan Portfolio Composition Total Loans by Type
Slide 29: 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 30: Profits
CVB Financial Corp. Profits
Slide 31: Net Income
Net Income (000’s) Net Income After Taxes $20.4 million FHLB prepayment charge $13.9 million FHLB prepayment charge
Slide 32: 2016 Interest Rate Challenges Remain
2016 Interest Rate Challenges Remain
Slide 33: Net Interest Margin
Net Interest Margin *Normalized tax-equivalent excludes accretion on covered loans (Purchase Credit Impaired) Normalized* 2.92% 3.92% 3.47%
Slide 34: 'CVBF' Assets & Liabilities
‘CVBF’ Assets & Liabilities 3/31/16 $6.9 Billion **Includes Customer Repurchase Agreements 3/31/16 $7.9 Billion *Includes overnight funds held at the Federal Reserve, Interest earning - due from Correspondent Banks, other short-term money market accounts or certificates of deposit Assets Liabilities
Slide 35: Yield on Securities vs. Yield on Loans
Yield on Securities vs. Yield on Loans *Excluding Discount Accretion **Includes Available for Sale and Held to Maturity, TE
Slide 36: Securities & Investments
CVB Financial Corp. Securities & Investments
Slide 37: Securities Portfolio
Source: Q1 2016 earnings release | Yield on securities represents the fully taxable equivalent $2.29 Billion *Available For Sale Yield on securities portfolio = 2.52% for the 1st Quarter 2016 Securities Portfolio* --$3.1 Billion-- $812.9 Million *Held to Maturity
Slide 38: Securities Portfolio Mark-to-Market
Securities Portfolio* $2.29 Billion Mark-to-Market (Pre-tax) (000’s) *Available For Sale $58,975
Slide 39: CitizensTrust
CVB Financial Corp. CitizensTrust
Slide 40: CitizensTrust
CitizensTrust 2014* 2015* 03/31/16 (Annualized) Assets Under Administration and Management $2.4 Billion $2.4 Billion $2.5 Billion Gross Income (full year) $8.1 Million $8.6 Million $8.8 Million *As of 12/31/14 and 12/31/15
Slide 41: Capital
CVB Financial Corp. Capital
Slide 42: Capital Ratios
Capital Ratios * CVB Financial Corp. – Consolidated Adequately Capitalized Ratio Well-Capitalized Ratio March 31, 2016* Tier 1 Risk-based Capital Ratio 6.0% 8.0% 16.74% Total Risk-based Capital Ratio 8.0% 10.0% 18.00% Common Equity Tier 1 Capital Ratio 4.5% 6.5% 16.27% Tier 1 Leverage Ratio 4.0% 5.0
Slide 43: May 2016 - Shareholder Update
May 2016 -Shareholder Update-
Slide 44: 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 $16.62 05/19/16 Average annual increase since May ’09 = 14% $16
Slide 45: 'CVBF' Stock Performance
‘CVBF’ Stock Performance 05/19/2016 1.40% -4.04% -7.08% -12.96%
Slide 46: 2016 & Beyond: Our Growth Strategy
--2016 & Beyond-- Our Growth Strategy
Slide 47: 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 48: 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 49: 2016 'Critical Few'
2016 ‘Critical Few’ Quality Loan Growth Expand Our Footprint DeNovo Growth Acquisition Relationship Banking Cyber Security Recruit, Retain & Train Key People
Slide 50: Copy of presentation at www.cbbank.com
Copy of presentation at www.cbbank.com