CVB Financial Q3 net income $51.2M ($0.37 EPS), down 11.5% YoY; NIM unchanged at 3.05%

CVB FINANCIAL CORP

2024-Q3 EPS reported $1.07

Net income $51.2M ($0.37 diluted EPS) vs $57.9M ($0.42) in Q3 2023; up 2.4% from Q2 2024.
Net interest margin unchanged at 3.05% QoQ; cost of funds rose 9bps to 1.47%.
Loans declined $109M (1.3%) QoQ; deposits and customer repos increased $408M.
Sold $312M AFS securities for $11.6M pre-tax loss; sale-leaseback generated $9.1M gain.
Repaid $1.3B Bank Term Funding Program borrowings; TCE ratio 9.7%, CET1 >15%.

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