Cvb Financial Corporation · NASDAQ:CVBF
Cvb Financial — Q3 2025 Earnings Presentation
52 slides from Cvb Financial's earnings presentation, Oct 23, 2025
Slide 1: CVB Financial Corp. October 2025
CVB Financial Corp. October 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: $15.7 Billion Gross Loans: $ 8.5 Billion Total Deposits (Including Repos): $12.6 Billion Total Equity: $ 2.3 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 194 Consecutive Quarters or over 48 Years of Profitability 144 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
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) Temecula LPO (2025) cbbank.co
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 September 30, 2025 Deposits & Assets Securities Loans Funding Repos Cash D&L & Agri Borrowings Repos 5% 4% Others Time 4% Muni 3% Other 5% 10% 8% 10% Agency C&I 11% 11% Securities $15.7B Loans $4.9B MBS 52% $8.5B $12.6B $13.1B 31% 54% CMO 27% CRE 77% Total Deposits & Non-m
Slide 12: Q3 2025 Financial Highlights
Q3 2025 Financial Highlights • ROATCE = 14.11% Profitability • ROAA = 1.35% • NIM = 3.33% • Efficiency Ratio = 45.6% • Q3’25 Net Income = $52.6 million / EPS = $0.38 • PPNR = $70 million / $1.2 million higher than Q2’25 Income Statement • $6 million income from legal settlement • $8 million loss on
Slide 13: Selected Ratios
Selected Ratios 2022 2023 2024 Q3’24 Q2’25 Q3’25 ROATCE* 18.85% 18.48% 14.95% 14.93% 14.08% 14.11% NIM 3.30% 3.31% 3.09% 3.05% 3.31% 3.33% Cost of Deposits 0.05% 0.41% 0.88% 0.98% 0.84% 0.86% Performance Cost of Funds 0.06% 0.83% 1.32% 1.47% 1.03% 1.05% Efficiency Ratio 38.98% 42.00% 46.55% 46.53% 4
Slide 14: Selected Highlights
Selected Highlights ($ in Thousands) Q3’24 Q2’25 Q3’25 Net Interest Income $ 113,619 $111,608 $115,577 Noninterest Income 12,834 14,744 13,006 Noninterest Expense 58,835 57,557 58,576 Pretax-Pre Provision Income 67,618 68,795 70,007 Income Statement Provision for Credit Losses - - 1,000 Earnings bef
Slide 15: Selected Highlights
Selected Highlights Q3’24 Q2’25 Q3’25 ($ in Thousands) Average Cash & Cash Equivalents $ 1,379,054 $ 486,741 $ 785,483 Average Loans 8,605,270 8,354,898 8,372,383 Average Total Securities 5,080,033 4,847,415 4,835,928 Average Balance Average Noninterest-bearing Deposits 7,124,952 7,051,702 7,123,511
Slide 16: Annualized Earnings Per Share
Earnings Per Share 194 Consecutive Quarters More than 48 Years of $1.67 Profitability since 1977 $1.56 $1.59 $1.48 $1.49 $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: Annualized Dividends
Dividends – 144 Consecutive Quarters 144 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 55.73% $0.48 $0.48 53.67% ANNUALIZED* 56.84% 45.16% 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2
Slide 18: Net Interest Income and NIM
Net Interest Income and NIM ($ in Millions) $115.6 4.28% 4.32% $113.6 4.28% $111.6 4.43% $110.4 $110.4 4.24% 3.31% 3.31% 3.33% 3.18% 3.05% 1.47% 1.13% 1.05% 1.04% 1.03% Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Earning Asset Yield Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Net Interest Margin Cost of Funds cbbank.com 18
Slide 19: Net Interest Margin Trend
Net Interest Margin Trend CVBF KRX 4.43% 4.26% 3.70% 3.71% 3.78% 3.69% 3.63% 3.44% 3.58% 3.34% 3.31% 3.27% 3.24% 3.26% 3.19% 3.15% 3.33% 3.30% 3.31% 3.21% 3.18% 3.17% 2.92% 3.09% 3.04% 3.05% 2.79% 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 3Q'25 cbbank.com * Source
Slide 20: Return on Average Assets
Return on Average Assets CVBF KRX 1.8% 1.6% 1.5% 1.4% 1.4% 1.3% 1.4% 1.2% 1.3% 1.2% 1.2% 1.2% 1.2% 1.4% 1.4% 1.3% 1.2% 0.9% 1.1% 1.1% 1.0% 1.0% 1.0% 0.9% 0.9% 0.9% 0.6% 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 3Q'25 cbbank.com * Source: As calculated by S&P Capit
Slide 21: Return on Average Tangible Common Equity
Return on Average Tangible Common Equity CVBF KRX 23.7% 19.8% 16.1% 16.5% 16.3% 15.8% 15.4% 15.0% 14.9% 14.3% 14.5% 14.0% 14.1% 14.1% 15.7% 14.5% 14.1% 13.4% 13.4% 12.1% 12.5% 12.2% 12.3% 11.4% 10.2% 7.4% 9.7% 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 3Q'25 cbbank
Slide 22: CET1 Ratio Trend (%)
CET1 Ratio Trend (%) CVBF KRX 16.4% 16.5% 16.5% 16.3% 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% 12.6% 12.7% 12.5% 12.5% 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
Slide 23: TCE Ratio Trend (%)
TCE Ratio Trend (%) CVBF KRX 12.2% CB 11.6% Acquisition 10.5% 10.0% 10.0% 10.1% ASR / Suncrest 9.7% 9.8% 9.6% Acquisition 9.2% 9.7% 8.7% 9.1% 9.3% 8.5% 9.0% 8.3% 8.8% 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 3Q'25 cbba
Slide 24: Total Deposits & Customer Repos
Total Deposits & Customer Repos December 31, 2024 September 30, 2025 Total Deposits & Customer Repos Total Deposits & Customer Repos Repos Repos Time Time 2% 3% 5% 5% Non-maturity Non-maturity Noninterest-bearing Noninterest-bearing Interest-bearing Interest-bearing 58% 35% 58% 34% Cost of Interest-
Slide 25: Deposit & Repo Quarterly Avg. Trends
Deposit & Repo Quarterly Avg. Trends Billions $12.42 $12.57 $12.47 $12.19 $12.18 $0.36 $0.46 $0.46 $0.32 $0.38 $0.74 $0.62 $0.56 $0.58 $0.57 $4.19 $4.38 $4.30 $4.18 $4.31 $7.12 $7.12 $7.00 $7.05 $7.12 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 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 #1 with the Lowest Cost of Deposits of 4.50% the 50 Banks in the KRX Index 4.00% 4.25% 3.00% 2.34% 2.19% 2.02% 2.00% 0.86% 0.82% 0.98% 1.00% 0.84% 0.03% 0.25% 0.11% 0.21% 0.00% 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 3.15% 2.87% 2.84% 2.88% 2.87% 2.78% 2.76% 2.75% 2.73% 2.76% 2.76% 2.74% CVBF Cost of Deposits vs. Effective Federal Funds Rate .84% .81% .81% .77% .77% .76% .74% .75% .75% .76% .77% .77%
Slide 28: Loans by Type
Loans by Type C&I CRE Owner 27.0% $0.94B Commercial and industrial 11.1% Dairy & livestock and agribusiness 3.5% CRE SFR mortgage $6.54B 3.4% SBA 3.1% Municipal lease finance receivable 0.7% CRE Non-Owner 50.2% Consumer and other loans 0.7% Construction Other 0.3% $1.00B cbbank.com 28
Slide 29: Loan Trends – Quarterly Averages
Loan Trends – Quarterly Averages ($ in Millions) CRE C&I $1,001 $995 $6,788 $981 $6,700 $6,664 $6,668 $6,655 $970 $956 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 D&L and Agribus. Other $372 $352 $340 $264 $247 $854 $876 $862 $853 $854 Q3 2024 Q4 2024 Q1 2025 Q2 2
Slide 30: Line Utilization Trends
Q1 2022 Q2 2022 Q3 2022 47% Q4 2022 51% Q1 2023 cbbank.com Q2 2023 Q3 2023 45% Q4 2023 48% Q1 2024 Total Q2 2024 Q3 2024 45% Q4 2024 49% Q1 2025 Q2 2025 41% Q3 2025 43% Q1 2022 Q2 2022 Q3 2022 67% Q4 2022 78% Q1 2023 Q2 2023 Line Utilization Trends 73% Q3 2023 Q4 2023 80% D&L Q1 2024 Q2 2024 Q3 2024
Slide 31: ACL Nine Quarter Trend
ACL Nine Quarter Trend ($ in Millions) $3.4 $5.9 $0.0 $0.0 $0.1 $85.6 $0.1 $0.0 $0.1 $0.0 $82.8 $82.8 $82.8 $80.9 $80.0 $78.3 $79.3 $77.9 1.00% 0.98% 0.97% 0.95% 0.94% 0.94% 0.94% 0.93% 0.94% Specific Reserve Performing Loans ACL Coverage Ratio Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Slide 32: Classified Loan Trend
Classified Loan Trend $124.61 ($ in Millions) $5.08 $11.68 $8.19 $94.17 $89.55 Other* $5.20 $5.59 $7.39 $0.86 $78.18 SFR mortgage $9.48 $73.42 $9.28 $8.30 $8.08 SBA $64.33 $7.55 $6.27 $9.61 $37.60 $7.28 Dairy & livestock and $36.80 agribusiness Commercial and $31.66 industrial $34.60 CRE - Non-owner
Slide 33: Classified Loans / Total Loans (%)
Classified Loans / Total Loans (%) CVBF KRX 2.4% 2.4% 2.3% 2.1% 2.0% 2.0% 1.8% 1.8% 1.6% 1.6% 1.5% 1.4% 1.4% 1.5% 1.2% 1.2% 1.1% 1.2% 1.1% 1.1% 1.0% 0.9% 0.9% 0.9% 0.9% 0.7% 0.7% 4Q'17 4Q'18 4Q'19 4Q'20 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 cbbank.com * Source: S&P Capital IQ.
Slide 34: Net Charge-Offs / Average Loans (%)
Net Charge-Offs / Average Loans (%) CVBF KRX 0.08% 0.06% 0.06% 0.06% 0.05% 0.05% 0.05% 0.05% 0.04% 0.04% 0.03% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 4Q'19 4Q'20 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 cbbank.com * Source: S&P Capital IQ. Unweight
Slide 35: Appendix
Appendix Non-GAAP Reconciliation cbbank.com
Slide 36: Commercial Real Estate Loans
Commercial Real Estate Loans Collateral Type Owner/Non-Owner Occupied Other RE Rental Medical and Leasing Non- Farmland 5% Owner 4% 6% 65% Industrial Other 34% 9% Multi- Family 12% Retail Owner 14% Office 35% 16% cbbank.com 36
Slide 37: CRE by Collateral
CRE by Collateral ($ in Millions) % of Classified Collateral LTV at Classified Balance Owner Avg. Size Classified (Non- Type Origination (Owner) Occupied Owner) Industrial $ 2,228 46% 49% $ 1.66 $ 18.86 $ 7.70 $ 11.16 Office 1,025 28% 55% 1.68 4.48 2.67 1.81 Retail 899 11% 47% 1.72 21.54 21.30 0.24
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 $ 2,228 7% 6% 8% 19% 17% 43% 45% 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 2,228 310 198 23% Office 1,025 140 136 27% Retail 899 155 90 27% Multi-F
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 $ 60 $ 107 $20M $10M to $20M 104 110 85 86 10 53 24 14 486 $5M to $10M 458 241 144 118 145 82 61 60 1
Slide 41: CRE Office Loans by Major MSA
CRE Office Loans by Major MSA Los Angeles County • Total Balance of $351mm (181 loans) San Diego County • Total Balance of $67mm (21 loans) Powered by Bing © GeoNames, Microsoft, TomTom Note: Only shows the office loans that are in the major MSA. cbbank.com 41
Slide 42: Greater LA Business Density Distribution
Greater LA Business Density Distribution % of Market Description $ Loan LTV at Avg. Owner Classified ($ in Thousands) Balance Origination Loan Size Occupied West LA (HBD) $ 83,033 18% 50% $ 4,152 $ 2,669 Other West LA 54,715 23% 54% 2,189 0 North LA (HBD) 44,024 5% 48% 1,572 0 Other North LA 36,308
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) $ 3,618 42% 54% $ 1,206 $ 0 Other SD 63,455 2% 51% 3,525 0 • Darker shaded areas represent Higher Business Density (HBD) Total $ 67,073 4% 51% $
Slide 44: C&I by Industry
C&I by Industry Balance % of Classified Industry ($ in C&I ($ in Wholesale Trade: 9% Millions) Total Millions) Real Estate Rental and Manufacturing: $ 199 21% $ 0.09 11% Leasing Manufacturing 108 11% 2.70 Construction: 8% Wholesale Trade 81 9% 6.53 Transportation Construction 72 8% 0.00 and Real Est
Slide 45: Diverse Deposit Base
Diverse Deposit Base Finance and Insurance Consumer 14% 21% Other Industries 8% Construction 7% Agriculture, Forestry, Fishing and Hunting 2% Manufacturing 7% Retail Trade 2% Educational Services 2% Wholesale Trade Property Management 3% 6% Other Real Estate Rental Health Care and Social and Leasing
Slide 46: Business vs Consumer Deposits
Business vs Consumer Deposits Q3 2025 Consumer Non-Analyzed 21% Business Accounts 40% Analyzed Business Accounts 39% cbbank.com 46
Slide 47: Deposit Relationship Tenure
Deposit Relationship Tenure Q3 2025 Over 10 Years 47% 3 to 10 Years 28% Less than 3 Years 25% ~75% of our customer deposit relationships have banked with CBB for 3 years or more cbbank.com 47
Slide 48: Economic Forecast – GDP
Economic Forecast – GDP Real GDP Growth 3.50 3.00 2.50 2.00 1.50 1.00 0.50 - Q2 2025 Forecast Q3 2025 Forecast cbbank.com 48
Slide 49: Economic Forecast – Unemployment
Economic Forecast – Unemployment Unemployment Rate 6.00 5.50 5.00 4.50 4.00 Q2 2025 Forecast Q3 2025 Forecast cbbank.com 49
Slide 50: 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) Q2 2025 Forecast Q3 2025 Forecast cbbank.com 50
Slide 51: Reconciliation of Return on Average Tangible Common Equity
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 52: Copy of presentation at www.cbbank.com
Copy of presentation at www.cbbank.com cbbank.com