earnings
confidence high
sentiment negative
materiality 0.75
CVB Financial Q4 net income $50.9M ($0.36 EPS); FY2024 net income $200.7M ($1.44 EPS) down 9.4% from 2023
CVB FINANCIAL CORP
2024-FY EPS reported
$1.44
- Net income $50.9M for Q4 2024 ($0.36 diluted EPS); full-year net income $200.7M ($1.44 EPS) vs $221.4M ($1.59 EPS) in 2023.
- Net interest margin 3.18% in Q4 (up from 3.05% in Q3); cost of funds decreased to 1.13% from 1.47%.
- Sale-leaseback of two buildings generated $16.8M pre-tax gain, offset by $16.7M loss on $155M AFS securities sale.
- Board authorized 10M share repurchase program; no shares repurchased in Q4.
- Noninterest-bearing deposits were 59% of total deposits; total deposits + repurchase agreements grew $505M YoY.