Cvb Financial Corporation · NASDAQ:CVBF
Cvb Financial — Q3 2026 Earnings Presentation
60 slides from Cvb Financial's earnings presentation, Oct 22, 2026
Slide 1: CVB Financial Corp. October 2026
CVB Financial Corp. October 2026
Slide 2: Forward Looking Statements
Forward Looking Statements CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to
Slide 3: CVB Financial Corp. California's Top Performing Business Bank
CVB Financial Corp. California’s Top Performing Business Bank Founded 1974 Total Assets ≈ $21B Total Deposits ≈ $16B Total Equity ≈ $3.1B Market Value ≈ $3.8B Business Banking Focused Presence in all California’s major economic markets Relationship driven model - Top 25% Target Customer Highly Exper
Slide 4: Bank Accomplishments
Bank Accomplishments Forbes, Best Banks in America (2016 – 2026)* ØRanked #1 Forbes, Best Banks in America (2016, 2020, 2021, 2023) Ranked #6 in Forbes’ World’s Top Performing Banks 2026 – Lower Mid-Size Banks category; #1 among California banks and #3 among U.S. banks Named to Bank Director Ranking
Slide 5: Business Financial Centers map
78 Business Financial Centers 1 Loan Production Office 3 CitizensTrust Locations Sutter Yolo Marin San Contra Joaquin Costa Alameda Stanislaus Santa Clara Madera San Benito Fresno Tulare Kern Santa Barbara San Bernardino Los Angeles Venture Orange Riverside San Diego Corporate Office Business Financ
Slide 6: Our Vision and Mission
Our Vision and Mission 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. Our Mission: The mission o
Slide 7: Our Strategy
Our Strategy Be the Financial Services Company of Choice for Top 25% Customers Full-relationship banking strategy Be the Employer of Choice for Top Talent Attract Develop Retain 5 Core Values Data-driven Operating Model Trusted data Better decisions Scalable growth Drive Growth from Acquisitions Str
Slide 8: Financial Service Company of the Top 25%
Financial Service Company of the Top 25% Top 25% privately-held and/or family-owned businesses throughout California Annual revenues of $1-300 million Full relationship banking Build long-term relationships Cbbank.com 8
Slide 9: Relationship Banking Strategy
Relationship Banking Strategy Customer Marketing Relationship Manager (Bank) Credit Management Division Agribusiness Construction Lending Specialty Banking Treasury Management International Real Estate Banking Citizens Home Lending Asset Based Lending C-PACE Lending Government Services Merchant Bank
Slide 10: Be the Employer of Choice - Our Core Values
Be the Employer of Choice - Our 5 Core Values Customer Focus Financial Strength Superior People Cost-Effective Operation Having Fun Cbbank.com 10
Slide 11: Be the Employer of Choice
Be the Employer of Choice We attract top talent—and earn their commitment—by building capability, rewarding performance and preparing the next generation of leaders. ENGAGEMENT Citizens experience program Core values in action Leading the CBB way ATTRACT Build a compelling employer brand and hire fo
Slide 12: Data Driven Operating Model
Data Driven Operating Model Technology and trusted data strengthen our operating model—improving the customerexperience while enabling scalable, efficient growth. CUSTOMERCAPABILITIES Deliver digital capabilities and solutions tailored to customer needs. PROCESS & AUTOMATION Reengineer processes and
Slide 13: CVBF's Acquisition Strategy
CVBF’s Acquisition Strategy Target Banks: $3 billion to $10 billion in assets In-market and adjacent markets Customer base that predominately aligns with CBB’s target customers Disciplined Approach to M&A: Rigorous due diligence: across credit, deposit pricing, and all banking functions Extensive re
Slide 14: Growth Through Acquisitions
Growth Through Acquisitions ($ in Billions) Community Bank acquisition Assets: $3.7B $8.3 2017 $11.5 2018 $11.3 2019 $14.4 2020 $15.9 2021 Suncrest acquisition Assets: $1.4B $16.5 2022 $16.0 2023 $15.2 2024 $15.6 2025 $15.5 Q1 2026 Heritage acquisition Assets: $5.4B $21.2 Q2 2026 $20.5 Q3 2026 cbban
Slide 15: M&A While Preserving Franchise Strength
Logo M&A While Preserving Franchise Strength Balance Sheet Total Assets $8.27B $20.52B Total Net Loans $4.77B $12.00B Total Deposits $6.55B $15.73B Balance Sheet Ratios Loans % Deposits 73.8% 77.1% NIB % Total Deposits 58.8% 53.5% Tangible Common Equity % Tangible Assets 11.6% 9.9% Asset Quality NPA
Slide 16: CVBF Balance Sheet Profile
CVBF Balance Sheet Profile September 30, 2026 Assets Securities Loans Deposits & Repos Funding Securities 28% Other 12% Cash 1% Loans 59% $20.5B CMO 29% Agency 9% Muni 8% Other 1% MBS 53% $5.7B C&I D&L & Agri 3% Others 11% $12.1B CRE 74% Non-maturity 93% Time 4% Repos 3% $16.3B Borrowings 3% Total D
Slide 17: Q3 2026 Financial Highlights
Logo Q3 2026 Financial Highlights Profitability Core net income = $83.1 million $8.1 million acquisition expense Net interest margin (TE) = 3.89% Adjusted efficiency ratio = 42.10%* Adjusted ROAA = 1.59%* Income Statement Net income = $78.1 million / EPS = $0.44 Pretax pre provision income* = $105.1
Slide 18: Selected Ratios
Selected Ratios Performance ROATCE* NIM Cost of Deposits Cost of Funds Efficiency Ratio NIE % Avg. Assets 2023 18.48% 3.31% 0.41% 0.83% 42.00% 1.41% 2024 14.95% 3.09% 0.88% 1.32% 46.55% 1.45% 2025 14.28% 3.36% 0.85% 1.03% 46.03% 1.57% Q3'25 14.11% 3.33% 0.86% 1.05% 45.56% 1.50% Q2'26 10.85% 3.72% 0.
Slide 19: Selected Highlights Income Statement
Selected Highlights Income Statement ($ in Thousands) Net Interest Income Noninterest Income Noninterest Expense, excluding Acquisition Related Expenses & Provision for Unfunded Loan Commitments Acquisition Related Expenses Provision for Unfunded Loan Commitments Total Noninterest Expense Pretax-Pre
Slide 20: Selected Highlights Average Balance Sheet
Selected Highlights Average Balance Sheet ($ in Thousands) Average Cash & Cash Equivalents Average Loans Average Total Securities Average Noninterest-bearing Deposits Average Total Deposits & Customer Repurchase Agreements Average Borrowings Average Loan-to-deposit Average Noninterest-bearing deposi
Slide 21: Earnings Per Share
Earnings Per Share 198Consecutive Quarters or 49+ Years $0.37 Q3' 24 $0.36 Q4' 24 $0.36 Q1'25 $0.37 Q2'25 $0.38 Q3' 25 $0.40 Q4'25 $0.38 Q1'26 $0.29 Q2'26 $0.44 Q3'26 Earnings per Share cbbank.com 21
Slide 22: Consistently High Returns – ROAA Trend
Consistently High Returns – ROAA Trend logo CVBF KRX* Adjusted ROAA** Community Bank acquisition 1.84% 1.61% 1.26% Suncrest acquisition 1.37% 1.38% 1.39% 1.35% 1.24% 1.36% 1.36% 1.42% 1.59% Heritage acquisition 1.03% 1.36% 1.32% 0.66% 1.28% 1.20% 0.93% 0.96% 1.09% 1.19% 1.23% 2017 2018 2019 2020 202
Slide 23: Dividends – Consecutive Quarters
Dividends – 148 Consecutive Quarters 148 Consecutive Quarters 37 years of consecutive cash dividends $0.20 $0.20 $0.20 $0.20 $0.20 $0.20 $0.20 $0.20 $0.20 54.62% 55.01% 54.50% 54.79% 52.39% 49.38% 53.32% 73.25% 45.14% Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Dividends per Share Dividend
Slide 24: Capital Ratios Q1 vs Q3 & Buyback
Capital Ratios Q1 vs Q3 & Buyback logo Q1 26 Q3 26 CET 1 Ratio 16.3% 14.8% TCE Ratio* 10.5% 9.9% Tangible Book Value Per Share $11.42 $10.92 Board authorized Share Repurchase Program up to 15 Million Shares – June 15, 2026 Impact of Heritage Acquisition and Share Repurchase Program on CVBF Common St
Slide 25: Net Interest Income and NIM
Net Interest Income and NIM ($ in Millions) $115.6 Q3'25 $122.7 Q4'25 $117.8 Q1'26 $162.4 Q2'26 $179.1 Q3'26 4.32% 4.43% 4.35% 4.62% 4.78% 3.33% 3.49% 3.44% 3.72% 3.89% 1.05% 1.01% 0.97% 0.96% 0.96% Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Earning Asset Yield Net Interest Margin Cost of Funds cbbank.com 25
Slide 26: Noninterest Income
Noninterest Income ($ in Millions) $15.2 $1.2 $3.3 $0.7 $0.6 $3.9 $5.6 Q32025 $14.0 $1.0 $2.1 $0.7 $0.7 $4.0 $5.4 Q4 2025 $14.3 $0.7 $3.1 $0.7 $0.5 $3.7 $5.5 Q1 2026 $17.0 $1.7 $3.5 $0.6 $0.7 $4.2 $6.3 Q2 2026 $16.5 $0.7 $4.1 $0.7 $0.8 $3.8 $6.5 Q3 2026 Other* BOLI Income Bankcard services Internati
Slide 27: Noninterest Expense
Noninterest Expense ($ in Thousands) Salaries and employee benefits Occupancy and equipment Professional services Computer software & telecommunications expense Amortization of intangible assets Provision for Unfunded Loan Commitments Acquisition related expenses Other Total noninterest expense Q3’2
Slide 28: Loans by Type – Q2 vs Q3
Loans by Type – Q2 vs Q3 6/30/2026 CRE Owner C&I 12% D&L and Agribus. 2% SBA 4% SFR Mortgage 3% SFR Mortgage 3% CRE Non-Owner 51% Average Coupon: 5.37% 9/30/2026 CRE Owner 23% C&I 12% D&L and Agribus. 3% SBA 4% SFR Mortgage 3% Other 4% CRE Non-Owner 51% Average Coupon: 5.46% Note: Weighted average c
Slide 29: Loan Growth – YTD'26 and Q3'26
Loan Growth – YTD’26 and Q3’26 ($ in Millions) 2026 YTD Loan Portfolio Change 8,699 3,479 (327) 1,222 (1,015) 69 12, 122 12/31/2025 HBC Acquisition* SFR Sale* New Originations Paydown Line Utilization Change 9/30/2026 2026 Q3 Loan Portfolio Change 12,017 - - 407 (359) 57 12,122 6/30/2026 HBC Acquisi
Slide 30: Line Utilization Trends
Line Utilization Trends 51% 45% 48% 45% 49% 43% 48% 42% 4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Total 78% 73% 80% 71% 81% 64% 78% 66% Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Slide 31: Classified Loan Trend
Classified Loan Trend Classified Loan% of Total Loans 0.92% 0.60% 0.96% 0.91% 0.94% Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Classified Loan ($ in Millions) Classified Loan Balance $78.18 $8.30 $7.55 $9.61 $31.66 $20.45 Q3 2025 $52.70 $5.64 $6.85 $12.34 $8.52 $18.75 Q4 2025 $83.06 $5.60 $11.27 $30.49
Slide 32: ACL Trend
ACL Trend ACL Coverage Ratio 0.94% 0.89% 0.93% 1.05% 1.04% Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 ($ in Millions) Total ACL $79.3 $77.2 $80.2 $126.7 $125.6 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 cbbank.com 32
Slide 33: Investment Portfolio
Investment Portfolio Investment Portfolio Mix – Q3’26 Historical Yield Municipal 7% Other8% CMBS19% CMO14% MBS52% 6,000 5,500 5,000 4,500 4,000 3.00% 2.90% 2.80% 2.70% 2.60% 2.50% 2.40% Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Avg. Investment Securities Avg.Security Yield Increased Investment in Floating Rate
Slide 34: Deposit & Customer Repurchase Agreements
Deposit & Customer Repurchase Agreements 6/30/2026 9/30/2026 Total Deposits & Repos: $16,852 Total Deposits & Repos:$16,302 Savings + Money Market 36% Total Time Deposits 4% CBB Repo Sweep 3% NOW Accounts 6% Demand Deposit Accounts 51% Cost of Deposits & Repos: 0.86% Savings + Money Market 35% Total
Slide 35: Business vs Consumer Deposits
Business vs Consumer Deposits Q3 2026 Non-Analyzed Business Accounts 59% Consumer 16% Analyzed Business Accounts 25% cbbank.com 35
Slide 36: Diverse Deposit Base
Diverse Deposit Base logo Consumer 16% Other Industries 8% Agriculture, Forestry, Fishing and Hunting 1% Retail Trade 2% Educational Services 3% Escrow and Title 3% Wholesale Trade 3% Public Administration 3% Health Care and Social Assistance 4% Professional, Scientific, and Technical Services 6% Ma
Slide 37: Cost of Deposits
Cost of Deposits For the Last 5 Years CVBF Ranked #1 with the Lowest Cost of Deposits of the 50 Banks in the KRX Index CVBF KRX Fed Funds Rate Source: As calculated by S&P Capital IQ. Unweighted Average NASDAQ Regional Banking Index KRX (50 Banks) 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% 0.03% 0.15
Slide 38: Cost of Deposits: Monthly Trends
Cost of Deposits: Monthly Trends CVBF Cost of Deposits CVBF Cost of Deposits Detail Coat of Non Maturity Deposits Coat of Time Deposits 2.75% 2.72% 2.66% 2.82% 2.84% 2.83% 2.94% 2.97% 2.82% 2.36% 2.29% 2.21% .75% .72% .71% .70% .67% .67% .67% .72% .72% .73% .73% .72% Oct-25 Nov-25 Dec-25 Jan-26 Feb-
Slide 39: Interest Rate Risk
Interest Rate Risk 9/30/2026 Yield Curve – Base Case 12 Month Ramp Up 200 bps 12 Month Ramp Up 100 bps 12 Month Ramp Dn 100 bps 12 Month Ramp Dn 200bps Net Interest Income 9/30/26 Static Balance Sheet Projections (9/30/26 Yield Curve vs Parallel Yield Curve Changes) 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 2
Slide 40: Appendix & Non-GAAP Reconciliation
Appendix & Non-GAAP Reconciliation cbbank.com
Slide 41: Acquisition of Heritage Bank of Commerce
Acquisition of Heritage Bank of Commerce Expands Presence into Desirable Bay Area Markets Addition of 16 Business Financial Centers Attractive Financial Returns IRR = 20% EPS Accretion = 13% ROAA =1.50% ROATCE =17% Strongly Aligned Business Models NPA ratio .08% Business deposits = 83% of total depo
Slide 42: Fair Value Acquired Heritage Assets & Liabilities
Fair Value Acquired Heritage Assets & Liabilities- 4/17/26 ($ in Millions) Acquired April 17, 2026 Re-structure Post-Restructure Total Cash and Cash Equivalents Total Investment Securities Loans held for sale PCD Loans PSL Loans ACL Net Loans Goodwill CDI Other Assets Total Assets Noninterest bearin
Slide 43: CRE by Collateral
CRE by Collateral ($ in Millions) Collateral Type Balance % of Owner Occupied LTV at Origination Avg. Size Classified Classified (Non- Owner) Classified (Owner) Industrial $ 2,708 46% 48% $ 1.73 $ 34.83 $ 10.46 $ 24.36 Office 1,468 26% 52% 1.75 11.80 10.02 1.78 Retail 1,388 11%45% 1.73 3.53 3.53 0.0
Slide 44: CRE by Collateral and Origination
CRE by Collateral and Origination ($ in Millions) Balance Distribution by Origination Year Average OLTV By Origination Year Collateral Type Balance 2026 2025 2024 2023 2022 2021 or earlier 2026 2025 2024 2023 2022 2021 or earlier Industrial $ 2,708 9% 11% 5% 8% 17% 50% 45% 45% 44% 40% 45% 51% Office
Slide 45: CRE by Collateral and Loan Size
CRE by Collateral and Loan Size ($ in Millions) Loan Amount Industrial Office Retail Multi-Family Other Farmland Medical Other RE Rental and Leasing Total Greater than $20M $10M to $20M $5M to $10M $1M to $5M Less than $1M Total $24 138 580 1,624 342 $2,708 $22 154 357 752 183 $1,468 $0 109 232 850
Slide 46: Loans – Maturity & Repricing
Loans – Maturity & Repricing ($ in Millions) Balance Distribution by Maturity or Reset as of 09/30/2026 Variable Fixed / Adjustable Loan Type ≤ 1 Year ≤ 1 Year 1-3 Years 3-5 Years 5-10 Years > 10 Years Grand Total Commercial real estate $ 880 $ 606 $ 1,778 $ 3,028 $ 2,458 $ 282 $ 9,033 Commercial an
Slide 47: C&I by Industry
C&I by Industry ($ in Millions) Industry Real Estate Rental and Leasing Construction Manufacturing Wholesale Trade Health Care and Social Assistance Arts, Entertainment, and Recreation Transportation and Warehousing Administrative and Support and Waste Management and Remediation Services Professiona
Slide 48: Loan Growth – Q1'26 and Q2'26
Loan Growth –Q1’26 and Q2’26 ($ in Millions) 2026 Q2 Loan Portfolio Change 8,643 3,479 (327) 477 (348) 97 12,017 3/31/2026 HBC Acquisition* SFR Sale* New Originations Paydown Line Utilization Change 6/30/2026 2026 Q1 Loan Portfolio Change 8,699 - - 338 (308) (85) 8,643 12/31/2025 HBC Acquisition* SF
Slide 49: Classified Loans / Total Loans (%)
Classified Loans / Total Loans (%)CVBF KRX 0.7% 1.5% 1.0% 1.4% 0.9% 0.7% 0.9% 1.2% 1.2% 1.6% 1.2% 1.8% 1.4% 2.0% 1.5% 2.3% 1.1% 2.0% 1.1% 2.4% 0.9% 2.4% 0.9% 2.4% 0.6% 2.3% 1.0% 2.3% 0.9% 2.2% 0.9% 0 4Q'19 4Q'20 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 * So
Slide 50: Net Charge-Offs / Average Loans (%)
Net Charge-Offs / Average Loans (%) CVBF KRX 0.02% 0.03% 0.05% 0.04% 0.06% 0.06% 0.08% 0.06% 0.05% 0.05% 0.06% 0.05% 0.07% 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% 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 * Source: S&P C
Slide 51: CET1 Ratio Trend (%)
CET1 Ratio Trend (%) ASR / Suncrest Acquisition HTBK Acquisition 14.8% 14.8% 14.9% 13.6% 14.7% 15.0% 15.3% 15.8% 16.2% 16.5% 16.5% 16.3% 15.9% 16.3% 14.7% 14.8% 12.1% 12.5% 12.5% 11.8% 12.2% 12.2% 12.3% 12.6% 12.8% 12.8% 12.7% 12.8% 12.8% 12.7% 12.8% 4Q'19 4Q'20 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4
Slide 52: TCE Ratio Trend (%)
TCE Ratio Trend (%) CVBF KRX ASR / Suncrest Acquisition HTBK Acquisition 12.2% 9.6% 9.2% 7.4% 8.5% 8.3% 8.3% 9.7% 9.8% 10.0% 10.0% 10.1% 10.3% 10.5% 9.8% 9.9% 9.7% 9.0% 8.6% 7.4% 8.1% 8.1% 8.2% 8.6% 8.6% 8.8% 8.8% 9.1% 9.2% 9.1% 9.2% 4Q'19 4Q'20 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25
Slide 53: Economic Forecast – GDP
Economic Forecast – GDP Real GDP Growth 4.00 3.50 3.00 2.50 2.00 1.50 1.00 .50. – (0.50) 2026Q3 2026Q4 2027Q1 2027Q2 2027Q3 2027Q4 2028Q1 2028Q2 2028Q3 2028Q4 2029Q1 2029Q2 2029Q3 Q2 2026 Forecast Q3 2026 Forecast cbbank.com 53
Slide 54: Economic Forecast – Unemployment
Economic Forecast – Unemployment Unemployment Rate 6.00 5.50 5.00 4.50 4.00 2026Q3 2026Q4 2027Q1 2027Q2 2027Q3 2027Q4 2028Q1 2028Q2 2028Q3 2028Q4 2029Q1 2029Q2 2029Q3 Q2 2026 Forecast Q3 2026 Forecast cbbank.com 54
Slide 55: 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) 2026Q3 2026Q4 2027Q1 2027Q2 2027Q3 2027Q4 2028Q1 2028Q2 2028Q3 2028Q4 2029Q1 2029Q2 2029Q3 Q2 2026 Forecast Q3 2026 Forecast cbbank.com 55
Slide 56: Reconciliation of Adjusted Return on Average Assets Ratio
Reconciliation of Adjusted Return on Average Assets Ratio (Non-GAAP) The adjusted return on average assets ratio is a non-GAAP disclosure. We use certain non-GAAP financial measures to provide supplemental information regarding our performance. We believe that presenting the adjusted return on avera
Slide 57: Reconciliation of Adjusted Return on Average Tangible Common Equity
Reconciliation of Adjusted Return on Average Tangible Common Equity (Non-GAAP) The adjusted 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 adju
Slide 58: Reconciliation of Adjusted Efficiency Ratio
Reconciliation of Adjusted Efficiency Ratio (Non-GAAP) logo The adjusted efficiency ratio is a non-GAAP disclosure. We use certain non-GAAP financial measures to provide supplemental information regarding our performance. We believe that presenting the adjusted efficiency ratio provides additional c
Slide 59: Reconciliation of Pretax Pre-Provision Income and TCE Ratio
Reconciliation of Pretax Pre-Provision Income and Tangible Common Equity Ratio (Non-GAAP) Pretax pre-provision income is a Non-GAAP financial measure that represents total revenue less noninterest expense and is calculated before provision for credit losses and income tax expense. For the Year Ended
Slide 60: CVB Financial Corp. Copy of presentation at www.cbbank.com
CVB financial corp. Copy of presentation at www.cbbank.com cbbank com 60