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Sep 30, 2020
CVB Financial Q3 2020 Earnings Report
Reported earnings for the third quarter of 2020.
Key Takeaways
CVB Financial Corp. reported net income of $47.5 million for the quarter ended September 30, 2020, compared with $41.6 million for the second quarter of 2020 and $50.4 million for the third quarter of 2019. Diluted earnings per share were $0.35 for the third quarter, compared to $0.31 for the prior quarter and $0.36 for the same period last year.
Net Earnings of $47.5 million for the third quarter of 2020, or $0.35 per share
Return on Average Tangible Common Equity of 15.20% for the third quarter of 2020
TCE Ratio of 9.8%, CET1 Ratio of 14.6% and Total Risk-based Capital Ratio of 16.1%
Deposit growth of $2.37 billion or 27% year-over-year
CVB Financial
CVB Financial
Forward Guidance
Although the current uncertain economic situation, coronavirus outlook and low interest rate environment present near term challenges to earnings growth, we will continue to maintain our long-term focus on credit quality, strong capital levels, and consistent earnings.