CVB Financial Corp. reported net earnings of $50.6 million, or $0.37 per share, for the second quarter of 2025. Return on Average Assets was 1.34%, with an Efficiency Ratio of 45.6% and a Net Interest Margin of 3.31%.

David Brager, President and CEO of Citizens Business Bank, highlighted the company’s financial strength in the second quarter, emphasizing their focus on serving small to medium-sized businesses. The company reported consistent profitability for over 48 years, with 143 consecutive quarters of paying cash dividends.

Income Statement Highlights for the second quarter of 2025 include Net Interest Income of $111.6 million, Noninterest Income of $14.7 million, and Noninterest Expense of $57.6 million. Net earnings for the quarter were $50.6 million, resulting in Earnings Per Share of $0.37, with a Net Interest Margin of 3.31% and an Efficiency Ratio of 45.55%.

Net Interest Income for the second quarter of 2025 increased by $1.2 million from the first quarter, with interest income rising by 0.84%. Net Interest Margin remained at 3.31%, driven by a slight decrease in the cost of funds to 1.03%. Loan yields remained unchanged at 5.22%, with a decrease in the cost of deposits partially offset by an increase in the average balance and cost of customer repurchase agreements.

The decrease in cost of funds contributed to a 26-basis point increase in Net Interest Margin for the second quarter of 2025 compared to the same period in 2024. This was primarily due to a significant decrease in the cost of funds, driven by a decline in average borrowings. In the second quarter of 2025, the company had average deposits of $12.18 billion and borrowings of $508.2 million. Interest earning asset yields decreased to 4.28%, impacted by a decline in loan and investment securities yields. There was no provision for credit losses in Q2 2025, with net charge-offs of $249,000. Noninterest income was $14.7 million, with noninterest expenses of $57.6 million. Total assets were $15.41 billion at June 30, 2025, up 1.03% from the previous quarter. The bank’s total assets increased by $260.5 million, with a rise in interest-earning balances but a decrease in investment securities and loans. Investment securities decreased by $80.7 million, loans by $5.1 million, and total assets at June 30, 2025, decreased by $737.4 million from the previous year.

Investment securities at June 30, 2025, totaled $4.81 billion, down by $80.7 million from the previous quarter. Loans and leases decreased by $5.1 million from March 31, 2025, with a $29.9 million decrease in commercial loans.

Nonperforming assets totaled $26.63 million, with a 0.17% share of total assets at June 30, 2025. Nonperforming loans included $24.38 million in commercial real estate and $1.26 million in SBA loans. Classified loans decreased by $20.7 million due to a drop in commercial real estate loans.

Deposits and customer repurchase agreements totaled $12.39 billion at June 30, 2025, a net increase of $122.9 million from March 31, 2025. Noninterest-bearing deposits increased to $7.25 billion, representing 60.47% of total deposits. Total borrowings as of June 30, 2025, consisted of $500 million in FHLB advances, decreasing by $1.3 billion from June 30, 2024. CVB Financial Corp. reported $1.8 billion in borrowings at June 30, 2024, with $500 million from FHLB advances and $1.3 billion from the Federal Reserve’s Bank Term Funding Program. The company’s total equity was $2.24 billion at June 30, 2025, with a tangible book value per share of $10.64.

Under the Basel III capital framework, CVB Financial Corp.’s capital ratios exceeded regulatory standards, with Tier 1 leverage capital ratio at 11.8%, Common equity Tier 1 capital ratio at 16.5%, and Total risk-based capital ratio at 17.3% as of June 30, 2025.

CitizensTrust, a subsidiary of CVB Financial Corp., had $5.0 billion in assets under management and administration as of June 30, 2025. Revenues were $3.7 million for the second quarter of 2025, offering trust, investment, brokerage, and financial planning services.

CVB Financial Corp., the holding company for Citizens Business Bank, is one of California’s largest bank holding companies, with over $15 billion in total assets. Citizens Business Bank is recognized for its banking, lending, and investing services, with more than 60 banking centers and three trust office locations in California. CVB Financial Corp. reported potential risks in their business operations, including credit impairments, changes in customer behavior, and economic conditions. They emphasized the importance of managing these risks effectively to maintain financial stability. The company’s financial statements for June 30, 2025, showed total assets of $15.41 billion, with net loans amounting to $8.28 billion. Non-GAAP financial measures were also highlighted in their earnings release. Contact CEO David A. Brager for more information.

CVB Financial Corp. disclosed their condensed consolidated balance sheets for June 30, 2025, showcasing their financial position with total assets of $15.41 billion and total liabilities of $13.17 billion. The company’s average balance sheets for the three and six months ended June 30, 2025, revealed key financial data, including interest income, total assets, and liabilities. The condensed consolidated statements of earnings outlined their performance, with net earnings of $50.56 million in the second quarter of 2025.

CVB Financial Corp. presented selected financial highlights for the second quarter of 2025, indicating a return on average assets of 1.34% and a return on average equity of 9.06%. Key financial metrics such as efficiency ratio, yield on average loans, cost of deposits, and net interest margin were provided to give investors insights into the company’s financial performance. The Tangible Common Equity Ratio (TCE) was also highlighted as a measure of financial strength. CVB Financial Corp. reported a dividend payout ratio ranging from 54.50% to 56.68% over the past few quarters. Nonperforming assets totaled $26,630 million in Q2 2025. The allowance for credit losses was $78,003 million at the end of the period. Tangible book value per share was $10.64.

The loan portfolio by type included commercial real estate loans of $6,517,415 million, while noninterest-bearing deposits totaled $7,247,128 million. Nonperforming loans were $25,969 million, with a percentage of total loans at 0.31%. The tier 1 leverage capital ratio was 11.5% as of June 30, 2024.

CVB Financial Corp.’s return on average tangible common equity was 14.08% in Q2 2025. The tangible book value per share was $10.64, with a tangible net income of $51,378 million. The return on average equity was 9.06%. Average tangible common equity was $1,463,894 million.

The Company uses non-GAAP financial measures like tangible book value to provide supplemental performance information. The tangible book value per share was $10.64 as of June 30, 2025. Return on average tangible common equity was 14.08% in Q2 2025, showing strong financial performance for CVB Financial Corp.

Read more at GlobeNewswire: Correcting and Replacing CVB Financial Corp. Reports