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Jun 30, 2020
CVB Financial Q2 2020 Earnings Report
CVB Financial Corp. reported an increase in net income and EPS compared to the previous quarter, while also showing a decrease compared to the same quarter last year.
Key Takeaways
CVB Financial Corp. reported net income of $41.6 million for the quarter ended June 30, 2020, with diluted earnings per share of $0.31. The company's performance reflects strong capital, consistent earnings, solid credit, and excellent liquidity, while also being impacted by a $11.5 million provision for credit losses due to the economic impact of the coronavirus pandemic.
Net earnings of $41.6 million for the second quarter of 2020, or $0.31 per share
Return on Average Tangible Common Equity of 13.80% for the second quarter of 2020
Growth in Noninterest-bearing Deposits of $1.65 billion or 31% year-over-year
Originated $1.1 billion in loans under SBA’s Paycheck Protection Program (“PPP”)
CVB Financial
CVB Financial
Forward Guidance
The document does not contain specific forward guidance. Therefore, I am unable to provide a summary of the company's expectations for future performance.