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Mar 31, 2024
CVB Financial Q1 2024 Earnings Report
CVB Financial Corp. reported consistent financial performance in a challenging operating environment, marked by sustained profitability and cash dividend payments.
Key Takeaways
CVB Financial Corp. reported net income of $48.6 million for the quarter ended March 31, 2024, with diluted earnings per share of $0.35. The company's performance reflects consistent profitability and dividend payments, despite a challenging operating environment.
Net earnings were $48.6 million, or $0.35 per share.
Return on average assets was 1.21%.
Return on average tangible common equity was 15.13%.
Net interest margin was 3.10%.
CVB Financial
CVB Financial
CVB Financial Revenue by Segment
Revenue by Segment
Service Charges Revenue
CapyFin.comTrust & Investment Revenue
CapyFin.comOther Noninterest Revenue
CapyFin.com Forward Guidance
This document contains forward-looking statements that involve risks and uncertainties, and actual results could differ materially from those projected. The company does not undertake any obligation to update any forward looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements, except as required by law.
Positive Outlook
- Plans
- Strategies
- Goals
- Statements about the Company’s outlook regarding revenue and asset growth
- Financial performance and profitability
Challenges Ahead
- Strength of the United States economy in general and the strength of the local economies in which we conduct business
- Effects of, and changes in, trade, monetary, and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System
- Inflation/deflation, interest rate, market and monetary fluctuations
- Effect of acquisitions we have made or may make, including, without limitation, the failure to obtain the necessary regulatory approvals, the failure to achieve the expected revenue growth and/or expense savings from such acquisitions, and/or the failure to effectively integrate an acquisition target and key personnel into our operations
- Timely development of competitive products and services and the acceptance of these products and services by new and existing customers