CVB Financial Q4 net income $48.5M ($0.35 EPS) down 27% YoY; FDIC special assessment $9.2M

CVB FINANCIAL CORP

2023-FY EPS reported $1.59

Q4 net earnings $48.5M, diluted EPS $0.35 vs $0.42 prior Q and $0.47 year ago; full year EPS $1.59 vs $1.67.
FDIC special assessment of $9.2M reduced Q4 EPS by $0.04; noninterest expense rose to $65.9M from $55.1M prior Q.
Net interest margin 3.26% in Q4 vs 3.31% prior Q and 3.69% year ago; cost of funds rose to 1.09% from 0.92%.
Nonperforming loans increased to $21.3M (0.24% of loans) from $10.0M (0.11%) at Sept 30, 2023.
Deposits declined $923M from prior Q to $11.71B; noninterest-bearing deposits were 63% of total.

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 year ended December 31, 2023 results: net income $221.4 million, EPS $1.59 per share.

Period: year ended December 31, 2023
Net income: $221.4 million
EPS: $1.59 per share
Result: reported results

Exact text from the filing

For the year ended December 31, 2023, the Company reported net income of $221.4 million, compared with $235.4 million for the year ended December 31, 2022. Diluted earnings per share were $1.59 for the year ended December 31, 2023, compared to $1.67 for the same period last year.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CVB FINANCIAL CORP reported quarter ended December 31, 2023 results: net income $48.5 million, EPS $0.35 per share.

Period: quarter ended December 31, 2023
Net income: $48.5 million
EPS: $0.35 per share
Result: reported results

Exact text from the filing

CVB Financial Corp. reported net income of $48.5 million for the quarter ended December 31, 2023, compared with $57.9 million for the third quarter of 2023 and $66.2 million for the fourth quarter of 2022. Diluted earnings per share were $0.35 for the fourth quarter, compared to $0.42 for the prior quarter and $0.47 for the same period last year.

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Source: SEC EDGAR

accession 0001193125-24-014581

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