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Mar 31, 2023
CVB Financial Q1 2023 Earnings Report
Net income of $59.3 million was reported, with diluted earnings per share of $0.42
Key Takeaways
CVB Financial Corp. reported a net income of $59.3 million for Q1 2023, with diluted earnings per share at $0.42. The company's return on average tangible common equity was 20.59%, and return on average assets was 1.47%.
Net Earnings of $59.3 million, or $0.42 per share
Return on Average Tangible Common Equity of 20.59%
Return on Average Assets of 1.47%
Noninterest-bearing deposits 63.92% of total deposits
Forward Guidance
The first quarter of 2023 included $1.5 million in provision for credit losses, projected loss rates continue to be impacted by a deteriorating economic forecast that assumes a modest recession starting in late 2023 and modest GDP growth through 2024, as well as lower commercial real estate values and an increase in the rate of unemployment.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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