earnings
confidence high
sentiment negative
materiality 0.75
CVB Financial Q1 net income $48.6M ($0.35), down 18% YoY; NIM 3.10%
CVB FINANCIAL CORP
2024-Q1 EPS reported
$0.35
- Net income $48.6M ($0.35 EPS), down 18% YoY from $59.3M; flat sequentially.
- NIM 3.10%, down 16bps Q/Q and 35bps YoY; cost of funds 1.31% vs 1.09% Q4.
- Total deposits +$461M Q/Q including $300M brokered; noninterest-bearing deposits 59.8% of total.
- Net loans -$134M (1.5%) from year-end; net charge-offs $4M; ACL 0.94% of loans.
- FDIC special assessment $2.3M in Q1; effective tax rate 27.25%; TCE ratio 8.3%.