CVB Financial Q2 net income $50M ($0.36 EPS), down 10% YoY; NIM 3.05%, NPLs rise

CVB FINANCIAL CORP

2024-Q2 EPS reported $0.71

Net earnings $50.0M, diluted EPS $0.36 vs $0.40 YoY and $0.35 QoQ. ROAA 1.24%, ROATCE 15.51%.
Net interest margin 3.05%, down 5 bps QoQ and 17 bps YoY; cost of funds up to 1.38%.
Average deposits up $245.3M QoQ; noninterest-bearing deposits 60.2% of total deposits.
Nonperforming loans rose to $25.0M (0.29% of loans) from $13.8M at March 31, 2024.
No provision for credit losses in Q2; net charge-offs only $31K; CET1 ratio >15%.

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