Cvb Financial Corporation · NASDAQ:CVBF
Cvb Financial — Investor Presentation (April 2024)
59 slides from Cvb Financial's investor presentation, Apr 25, 2024
Slide 1: April 2024
Exhibit 99.1 April 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: $16.5 Billion ▪ Gross Loans: $ 8.8 Billion ▪ Total Deposits (Including Repos): $12.2 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 ➢ 188 Consecutive Quarters of Profitability ➢ 138 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 Ban
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
CVBF Balance Sheet Profile March 31, 2024 Deposits & Securities Assets Loans Repos Funding Cash D&L & Agri Repos 6% Time 4% 2% Others Muni Other Borrowings 6% 8% 9% 9% 14% Agency C&I 11% 11% Loans $14.2B Securities $5.3B MBS $8.8B $12.2B $16.5B 53% 32% CMO 58% 22% CRE 77% Total Deposits & Non-maturi
Slide 12: Q1 2024 Financial Highlights
Q1 2024 Financial Highlights • ROATCE = 15.13% Profitability • ROAA = 1.21% • Efficiency Ratio = 47.22% • Q1’24 Net Income = $48.6 million / EPS = $0.35 • FDIC special assessment (add’l in Q1’24) = $2.3 million or ($.01) EPS Income Statement • Cost of funds increased sequentially from 1.09% to 1.31%
Slide 13: Selected Ratios
Selected Ratios 2021 2022 2023 Q1’23 Q4’23 Q1’24 ROATCE 15.93% 18.85% 18.48% 20.59% 16.21% 15.13% NIM 2.97% 3.30% 3.31% 3.45% 3.26% 3.10% Cost of Deposits 0.04% 0.05% 0.41% 0.17% 0.62% 0.74% Performance Cost of Funds 0.05% 0.06% 0.83% 0.49% 1.09% 1. 31% Efficiency Ratio* 41.09% 38.98% 42.00% 39.50%
Slide 14: Selected Highlights
Selected Highlights Q1’23 Q4’23 Q1’24 ($ in Thousands) Net Interest Income $ 125,728 $ 119,356 $ 112,461 Noninterest Income 13,202 19,163 14,113 Noninterest Expense, excluding 52,809 54,637 55,326 Regulatory Assessments Regulatory Assessments 2,072 11,293 4,445 Total Noninterest Expense 54,881 65,93
Slide 15: Selected Highlights
Selected Highlights Q1’23 Q4’23 Q1’24 ($ in Thousands) Average Cash & Cash Equivalents $ 212,079 $ 593,110 $ 595,470 Average Loans 8,963,323 8,856,654 8,824,579 Average Total Securities 5,762,728 5,328,208 5,357,708 Average Average Noninterest-bearing Deposits 8,092,704 7,450,856 7,182,718 Balance A
Slide 16: Pretax-Pre Provision Income
Pretax-Pre Provision Income ($ in Millions) 2.09% 1.99% 1.91% 1.78% 1.66% $84.0 $82.6 $78.2 $66.8 $72.6 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 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% 1.7% 1.6% 1.5% 1.5% 1.5% 1.5% 1.4% 1.4% 1.4% 1.4% 1.4% 1.3% 1.3% 1.3% 1.3% 1.2% 1.2% 1.2% 1.4% 1.4% 1.4% 1.4% 1.4% 1.3% 1.3% 1.3% 1.0% 1.3% 1.3% 1.3% 1.3% 1.2% 1.1% 1.1% 1.1% 1.1% 1.1% 1.0% 0.9% 0.7% 0.6% Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Slide 18: Dividends – Consecutive Quarters
Dividends – 138 Consecutive Quarters 138 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 57.38% $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 3/31/2024 (ann.) Dividen
Slide 19: Earnings Per Share
Earnings Per Share 188 Consecutive Quarters of $1.67 $1.59 $1.56 Profitability since 1977 $1.48 $1.40 $1.30 $1.24 $0.95 $0.94 $0.93 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 cbbank.com 19 • Annualized based on Q1’24 EPS. ANNUALIZED*
Slide 20: Strong Capital Ratios
Strong Capital Ratios CVBF CET1 % KRX Avg CET1 % Regulatory Min. 14.9% 14.6% 14.4% 14.1% 13.8% 13.6% 13.6% 13.4% 13.5% 12.2% 12.1% 12.2% 11.8% 11.9% 11.8% 11.8% 11.7% 7.0% 7.0% 7.0% 7.0% 7.0% 7.0% 7.0% 7.0% 7.0% Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Capital Ratios 1
Slide 21: CET1 Ratio Trend
CET1 Ratio Trend (%) 17.1% CVBF KRX 15.1% Community 14.9% 14.9% 14.9% 14.9% 14.8% 14.8% Bank Q3’18 14.6% Suncrest 14.6% 14.6% 14.5% 14.4% Q1’22 14.3% 14.1% 14.1% 13.8% 13.8% 13.6% 13.6% 13.5% 13.4% 13.0% 12.9% 12.8% 12.8% 12.8% 12.5% 12.5% 12.2% 12.2% 12.1% 12.1% 12.1% 12.0% 12.0% 12.0% 12.0% 12.0%
Slide 22: TCE Ratio Trend
TCE Ratio Trend (%) CVBF KRX 12.2% 12.1% 11.8% 11.7% 11.3% 11.1% 10.5% 10.2% 9.8% 9.6% 9.6% 9.4% 9.2% 9.2% 9.7% 9.7% 8.9% 9.6% 9.4% 9.3% 8.5% 9.2% 9.2% 9.1% 8.3% 9.0% 8.9% 8.8% 8.8% 8.7% 8.7% 8.6% 7.8% 7.8% 7.7% 7.7% 7.5% 7.4% 8.1% 7.9% 7.0% 7.5% 7.5% 7.5% 7.5% 7.4% 7.1% Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q
Slide 23: Loan Composition
Loan Composition Q1 2023 Q1 2024 CRE OO CRE OO 28% 28% C&I C&I 11% Total CRE Total CRE 10% 78% 77% D&L and Agribus. D&L and Agribus. 3% 4% Other Other 9% 8% CRE NOO CRE NOO 50% 49% cbbank.com 23
Slide 24: Loan Trends – Quarterly Averages
Loan Trends – Quarterly Averages ($ in Millions) $1,014 $7,112 C&I CRE $7,080 $6,997 $6,939 $1,001 $1,000 $6,888 $989 $960 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 D&L and Agribus. Other $970 $400 $371 $354 $321 $927 $314 $921 $912 $911 Q1 2023 Q2 2023 Q3 2023
Slide 25: Line Utilization Trends
Line Utilization Trends 81% 80% 78% 75% 69% 68% 53% 50% 51% 48% 46% 46% 45% 41% 33% 31% 29% 29% 28% 28% 26% Total D&L C&I cbbank.com 25 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2
Slide 26: ACL Nine Quarter Trend
ACL Nine Quarter Trend ($ in Millions) 1.00% $3.4 $1.5 $1.5 $1.0 $5.9 $0.0 $1.1 $85.5 $85.6 $85.0 $84.1 $82.8 $6.4 $81.5 $80.9 $7.2 $73.8 0.89% $68.9 Specific Reserve Performing Loans Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 cbbank.com 26
Slide 27: Classified Loan Trend
Classified Loan Trend ($ in Millions) $103.08 $102.20 $3.97 $3.57 $92.25 $2.56 $2.52 $4.95 $3.30 $3.34 $2.74 $5.20 $77.83 Other* $2.11 $66.98 SFR mortgage $12.94 $46.81 $47.48 $1.77 $34.63 $6.87 $5.99 SBA $10.37 $17.34 Dairy & livestock and agribusiness $16.58 Commercial and industrial CRE - Non-own
Slide 28: 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) 2023/12/31 Forecast 2024/03/31 Forecast cbbank.com 28
Slide 29: Economic Forecast – Unemployment
Economic Forecast – Unemployment Unemployment Rate 6.50 6.00 5.50 5.00 4.50 4.00 3.50 3.00 2023/12/31 Forecast 2024/03/31 Forecast cbbank.com 29
Slide 30: Economic Forecast – CRE Price
Economic Forecast – CRE Price CRE Price Index Growth 15.00 10.00 5.00 - (5.00) (10.00) (15.00) 2023/12/31 Forecast 2024/03/31 Forecast cbbank.com 30
Slide 31: 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% 0.05% 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 32: NPA / Average Assets
NPA / Average Assets (%) CVBF KRX 0.61% 0.56% 0.51% 0.51% 0.51% 0.49% 0.49% 0.47% 0.47% 0.45% 0.45% 0.42% 0.37% 0.33% 0.33% 0.31% 0.30% 0.30% 0.29% 0.28% 0.28% 0.28% 0.27% 0.18% 0.17% 0.17% 0.14% 0.13% 0.13% 0.12% 0.12% 0.12% 0.10% 0.10% 0.09% 0.09% 0.09% 0.08% 0.08% 0.06% 0.06% 0.06% 0.05% 0.04% 0.
Slide 33: Classified Loans / Total Loans
Classified Loans / Total Loans (%) CVBF KRX 2.1% 2.1% 2.0% 1.9% 1.8% 1.7% 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% 1.3% 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% 0.7% 0.7% 0.7% 0.7% 0.7% 0.7% 0.7% 0.6% 0.6% 0.6% * Source: S&P Capital
Slide 34: Commercial Real Estate Loans
Commercial Real Estate Loans Collateral Type Owner/Non-Owner Occupied Other RE Rental Non- Medical and Leasing Farmland Owner 5% 3% 7% 64% Industrial Other 34% 9% Multi- Family 12% Owner Retail Office 36% 14% 16% cbbank.com 34
Slide 35: CRE by Collateral Origination Year
CRE by Collateral Origination Year Balance % of Avg. Size Classified Collateral LTV at 2018 or ($ in Owner ($ in ($ in 2024 2023 2022 2021 2020 2019 Type Origination earlier Millions) Occupied Millions) Millions) Industrial $ 2,258 49% 50% $ 1.62 $ 15.29 1% 9% 20% 19% 11% 7% 33% 1,100 25% 55% 1.70 -
Slide 36: CRE Office by Loan Amount
CRE Office by Loan Amount Balance Rate Resets Next % of Maturing Next 24 Avg. Balance Classified Balance Loan Amount 24 Months ($ in Millions) ($ in Millions) Owner Occupied ($ in Millions) months ($ in Millions) ($ in Millions) Greater than $20M $ 23 0% $ 23 $ 0 $ 0 $ 0 $10M to $20M 102 30% 15 0 0
Slide 37: CRE Office Loans by Major MSA
CRE Office Loans by Major MSA San Francisco County • Total Balance of $323,000 (1 loan) Los Angeles County • Total Balance of $402mm (199 loans) San Diego County • Total Balance of $90mm (24 loans) Note: Only shows the office loans that are in the major MSA. cbbank.com 37
Slide 38: 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) $ 95,518 16% 51% $ 4,776 $ 0 Other West LA 63,137 22% 53% 2,037 0 North LA (HBD) 46,257 8% 47% 1,492 0 Other North LA 40,635 14%
Slide 39: 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) $ 3,775 41% 54% $ 1,258 $ 0 Other SD 86,540 0% 53% 4,121 0 • Darker shaded areas represent Higher Business Density (HBD) Total $ 90,315 2% 53% $
Slide 40: 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) $ 323 0% 3% $ 323 $ 0 0 0% 0% 0 0 Other SF • Darker shaded areas represent Higher Business Density (HBD) Total $ 323 0% 3% $ 323 $ 0 cbbank.com
Slide 41: C&I by Industry
C&I by Industry % of Balance Manufacturing: C&I Wholesale Trade: 9% Industry ($ in Millions) 12% Total Real Estate Rental and Leasing $ 216 22% Manufacturing 115 12% Construction: 8% Wholesale Trade 83 9% Real Estate Rental and Leasing: 22% Construction 81 8% Arts, Entertainment, and Recreation 74 8
Slide 42: Total Deposits & Customer Repos
Total Deposits & Customer Repos March 31, 2024 December 31, 2023 Total Deposits & Customer Repos Total Deposits & Customer Repos Time Time 6.0% 3% Repos Repos 2% 2% Non-maturity Non-maturity Interest-bearing Interest-bearing Noninterest-bearing 33% 34% Noninterest-bearing 58% 62% Cost of Interest-Be
Slide 43: Diverse Deposit Base
Diverse Deposit Base Consumer 26% Construction 7% Finance and Insurance 6% Public Administration 6% Other 13% Title 1% Other Real Estate Agriculture, Forestry, Rental and Leasing Fishing and Hunting 6% 2% Transportation and Manufacturing Warehousing 6% 2% Retail Trade Educational 2% Services Propert
Slide 44: Business vs Consumer Deposits
Business vs Consumer Deposits Q1 2022 Q1 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 44
Slide 45: Deposit Relationship Tenure
Deposit Relationship Tenure Q1 2022 Q4 2023 Q1 2024 Over 10 Over 10 Years Years Over 10 45% 44% Years 3 to 10 42% Years 3 to 10 34% Years 3 to 10 32% Years 32% Less than 3 Less than 3 Less than 3 Years Years Years 24% 23% 24% >76% of our customer deposit relationships have banked with CBB for 3 year
Slide 46: Brokered Deposits / Total Deposits
Brokered Deposits / Total Deposits (%) CVBF KRX 6.56% 6.11% 5.56% 4.99% 4.64% 4.63% 4.58% 4.47% 4.43% 4.38% 4.31% 4.10% 3.98% 3.73% 3.43% 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% 0.00%
Slide 47: 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 =14.2% 4.00% of the 50 Banks in the KRX Index 3.00% 2.50% 2.08% 2.00% 0.74% 0.62% 1.00% 0.74% 0.35% 0.50% 0.25% 0.21% 0.05% 0
Slide 48: Cost of Deposits: Monthly Trends
Cost of Deposits: Monthly Trends CVBF Cost of Deposit Detail Cost of Time Deposits 2.89% CVBF Cost of Deposits Cost of Non-Maturity Deposits 2.28% 2.22% vs. Effective Federal Funds Rate 1.84% 1.13% 1.06% 1.09% 5.33% 5.33% 5.33% 5.33% 5.33% 5.33% 5.33% 5.33% 5.12% 5.08% 5.06% 0.71% 0.67% 0.61% 0.60%
Slide 49: Non-Maturity Deposits: Avg Month Trend
Non-Maturity Deposits: Avg Month Trend MoM % Change 1.3% Excl. Largest Depositor .7% Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 (.5%) (1.3%) (2.1%) $11,986 $11,854 $11,648 $11,330 $11,163 $11,075 1.5% 0.8% -1.1% -1.7% -4.9% Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Non-Maturity Deposits % Change NMD cbbank.
Slide 50: Net Interest Income and NIM
Net Interest Income and NIM ($ in Millions) 4.34% 4.30% 4.18% 4.01% $125.7 3.91% $123.4 $119.5 $119.4 $112.5 3.45% 3.31% 3.26% 3.22% 3.10% 1.31% 1.09% 0.92% 0.83% 0.49% Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Earning Asset Yield Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Net Interest Margin Cost of Funds cbbank.com 50
Slide 51: Net Interest Margin Trend
Net Interest Margin Trend CVBF KRX 4.49% 4.40% 4.39% 4.34% 4.24% 4.08% 4.06% 3.82% 3.70% 3.69% 3.78% 3.74% 3.73% 3.50% 3.69% 3.69% 3.45% 3.64% 3.63% 3.58% 3.34% 3.33% 3.31% 3.29% 3.49% 3.26% 3.46% 3.45% 3.18% 3.16% 3.10% 3.06% 3.25% 3.22% 3.21% 3.20% 3.17% 2.96% 3.16% 2.92% 3.12% 2.90% 3.04% 2.98% 2
Slide 52: Appendix Non-GAAP Reconciliation
Appendix Non-GAAP Reconciliation cbbank.com
Slide 53: Loans by Type
Loans by Type C&I CRE Owner $0.96B 27.5% Commercial and industrial 11.0% Dairy & livestock and agribusiness 4.0% CRE $6.72B SFR mortgage 3.2% SBA 3.1% Municipal lease finance receivable 0.8% CRE Non-Owner 49.1% Construction 0.7% Consumer and other Other loans $1.09B 0.6% cbbank.com 53
Slide 54: Loan Trends
Loan Trends ($ in Millions) Q1 2024 vs Q1 2023 $8,942 $8,907 $8,905 $8,878 $8,771 Total ($172) 2% decline $6,950 $6,904 CRE ($230) $6,843 $6,785 $6,721 3% decline C&I $65 $970 7% increase $963 $956 $938 $898 $749 $745 $738 $735 Other ($51) $786 D&L and $351 $352 $298 Agribus. $44 $413 $308 Q1 2023 Q
Slide 55: Loans by Region
Loans by Region # of Average Center Total Loans Loans per % Locations (3/31/24) Location ($ in Thousands) (3/31/24) Los Angeles County 21 $ 152,575 $ 3,204,076 36.5% Central Valley and Sacramento 15 138,443 2,076,644 23.7% Orange County 10 115,412 1,154,124 13.2% Inland Empire 9 111,387 1,002,479 11
Slide 56: Deposits by Region
Deposits by Region Average # of Center Total Deposits Total Deposits Deposits per Locations (12/31/23)) (3/31/24) Center (3/31/24) (12/31/23) ($ in Thousands) Los Angeles County 21 $ 4,526,390 $4,746,731 $226,035 Inland Empire 9 (Riverside & San Bernardino 3,217,378 3,681,925 409,103 Counties) Centr
Slide 57: 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 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: Copy of presentation at www.cbbank.com
Copy of presentation at www.cbbank.com cbbank.com