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Sep 30, 2023
CVB Financial Q3 2023 Earnings Report
Net income of $57.9 million, or $0.42 per share, was reported.
Key Takeaways
CVB Financial Corp. reported a net income of $57.9 million for Q3 2023, with diluted earnings per share of $0.42. The company's focus on small to medium-sized businesses and long-term relationships contributed to these solid results.
Net earnings of $57.9 million, or $0.42 per share were reported.
Return on Average Tangible Common Equity was 18.82%.
Return on Average Assets was 1.40%.
Efficiency Ratio was 39.99%.
CVB Financial
CVB Financial
Forward Guidance
The document does not contain specific forward guidance, but it does mention management's expectations and beliefs concerning future developments and their potential effects on the Company.
Positive Outlook
- Focus on banking the best privately held small to medium sized businesses
- Building meaningful long-term relationships
- Maintaining solid results
- Loyalty and support from customers
- Loyalty and support from associates
Challenges Ahead
- Strength of the United States economy in general and the strength of the local economies
- Effects of, and changes in, trade, monetary, and fiscal policies and laws
- Inflation/deflation, interest rate, market and monetary fluctuations
- Effect of acquisitions we have made or may make
- Timely development of competitive products and services