CVBF Q3 2023 net income $57.9M ($0.42 EPS), down 10.4% YoY; NIM expands to 3.31%

CVB FINANCIAL CORP

2023-Q3 EPS reported $1.24

Net income $57.9M ($0.42 diluted EPS) vs $64.6M ($0.46) in Q3 2022; ROATCE 18.82%, ROAA 1.40%.
Net interest margin 3.31% (+9 bps QoQ) driven by asset yield improvement; efficiency ratio 39.99%.
Total deposits +$278M average QoQ; noninterest-bearing deposits 61.4% of total; cost of deposits 0.52%.
ACL ratio 1.00% after $2M provision; nonperforming loans rose to $10M from $6.5M prior quarter.
CET1 ratio 14.4%, TCE 7.7%; tangible book value $8.39; no share repurchases in Q3.

item 2.02 item 9.01 item 8.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CVB FINANCIAL CORP reported the quarter ended September 30, 2023 results: net income $57.9 million, EPS $0.42 per share.

Period: the quarter ended September 30, 2023
Net income: $57.9 million
EPS: $0.42 per share
Result: reported results

Exact text from the filing

CVB Financial Corp. reported net income of $57.9 million for the quarter ended September 30, 2023

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Source: SEC EDGAR

accession 0001193125-23-263470

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