CVB Financial Q2 2023 net income $55.8M ($0.40 EPS); deposits up $126M Q/Q

CVB FINANCIAL CORP

2023-Q2 EPS reported $0.82

Net income $55.8M ($0.40 diluted EPS), down from $59.3M in Q1 2023 and $59.1M in Q2 2022.
Net interest margin (TE) 3.22%, down from 3.45% Q/Q due to 23 bp increase in cost of funds.
Deposits grew $125.7M Q/Q to $12.4B; noninterest-bearing deposits 63.55% of total deposits.
Allowance for credit losses $87.0M (0.98% of loans); provision for credit losses $500k in Q2.
Tangible book value per share $8.74; all regulatory capital ratios well above minimums.

item 2.02 item 9.01 item 8.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CVB FINANCIAL CORP reported quarter ended June 30, 2023 results: net income $55.8 million, EPS $0.40 per diluted share.

Period: quarter ended June 30, 2023
Net income: $55.8 million
EPS: $0.40 per diluted share
Result: reported results

Exact text from the filing

CVB Financial Corp. reported net income of $55.8 million for the quarter ended June 30, 2023, compared with $59.3 million for the first quarter of 2023 and $59.1 million for the second quarter of 2022. Diluted earnings per share were $0.40 for the second quarter, compared to $0.42 for the prior quarter and $0.42 for the same period last year.

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Source: SEC EDGAR

accession 0001193125-23-195219

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