Cvb Financial Corporation · NASDAQ:CVBF
Cvb Financial — Q3 2026 Earnings Presentation
60 slides from Cvb Financial's earnings presentation, Oct 22, 2026
Slide 1: CVB Financial Corp. October 2026
CVB Financial Corp. October 2026
Slide 2: Forward Looking Statements
Forward Looking Statements CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to
Slide 3: CVB Financial Corp.
CVB Financial Corp. Business Banking Focused Presence in all California’s major economic markets California’s Top Relationship driven model - Top 25% Target Customer Performing Highly Experienced Management Team Business Bank Consistent Track Record of Earnings and Shareholder returns 198
Slide 4: Bank Accomplishments
Bank Accomplishments Forbes, Best Banks in America (2016 – 2026)* Ranked #1 Forbes, Best Banks in America (2016, 2020, 2021, 2023) Ranked #6 in Forbes’ World’s Top Performing Banks 2026 – Lower Mid-Size Banks category; #1 among California banks and #3 among U.S. banks Named to Bank Director
Slide 5: 78 Business Financial Centers, 1 Loan Production Office, 3 CitizensTrust Locations
78 Business Financial Centers 1 Loan Production Office 3 CitizensTrust Locations Corporate Office Business Financial Centers Loan Production Office CitizensTrust cbbank.com
Slide 6: Our Vision and Mission
Our Vision and Mission Our Vision: Citizens Business Bank will strive to become the premier financial services company operating throughout the state of California, servicing the comprehensive financial needs of successful small to medium sized businesses and their owners. Our Mission: The mission o
Slide 7: Our Strategy
Our Strategy Be the Financial Be the Data-driven Drive Growth Services Employer of Operating from Company of Choice for Top Model Acquisitions Choice for Top Talent 25% Customers Attract Trusted data Strategic fit Full-relationship Develop Better decisions Disciplined banking strategy Retain Returns
Slide 8: Financial Service Company of Choice for Top 25%
Financial Service Company of the Top 25% Top 25% privately-held and/or family-owned businesses throughout California Annual revenues of $1-300 million Full relationship banking Build long-term relationships cbbank.com 8
Slide 9: Relationship Banking Strategy
Relationship Banking Strategy Customer Credit Marketing Management Division Relationship Manager (Bank) Agribusiness Citizens Home Construction Lending Lending Specialty Asset Based Banking Treasury International Real Estate Lending Management Banking Dairy & Government Citizens CitizensTrust Livest
Slide 10: Be the Employer of Choice - Our 5 Core Values
Be the Employer of Choice - Our 5 Core Values cbbank.com 10
Slide 11: Be the Employer of Choice
Be the Employer of Choice We attract top talent—and earn their commitment—by building capability, rewarding performance and preparing the next generation of leaders. ENGAGEMENT ATTRACT DEVELOP REWARD BUILD THE BENCH • Citizens Build a compelling Invest in learning, Offer competitive Use talent revie
Slide 12: Data Driven Operating Model
Data Driven Operating Model Technology and trusted data strengthen our operating model— improving the customer experience while enabling scalable, efficient growth. Deliver digital capabilities and solutions tailored to customer CUSTOMER CAPABILITIES needs. PROCESS & Reengineer processes and apply t
Slide 13: CVBF's Acquisition Strategy
CVBF’s Acquisition Strategy Target Banks: $3 billion to $10 billion in assets In-market and adjacent markets Customer base that predominately aligns with CBB’s target customers Disciplined Approach to M&A: Rigorous due diligence: across credit, deposit pricing, and all banking functions Ex
Slide 14: Growth Through Acquisitions
Growth Through Acquisitions ($ in Billions) Heritage acquisition Assets: $5.4B Suncrest acquisition $21.2 Assets: $1.4B $20.5 $16.5 $16.0 Community Bank $15.9 $15.6 $15.5 acquisition $15.2 Assets: $3.7B $14.4 $11.5 $11.3 $8.3 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q1 2026 Q2 2026 Q3 2026 cbban
Slide 15: M&A While Preserving Franchise Strength
M&A While Preserving Franchise Strength FY 2017 Q3 2026 Total Assets $8.27B $20.52B Balance Total Net Loans $4.77B $12.00B Sheet Total Deposits $6.55B $15.73B Loans % Deposits 73.8% 77.1% Balance NIB % Total Deposits 58.8% 53.5% Sheet Ratios Tangible Common Equity % Tangible Assets 11.6% 9.9% NPA %
Slide 16: CVBF Balance Sheet Profile
CVBF Balance Sheet Profile September 30, 2026 Deposits & Assets Securities Loans Funding Repos Cash Other 1% Time Repos Borrowings 1% D&L & Agri Other Muni 4% 3% 3% 3% Others 12% Agency8% 11% 9% C&I Securities 12% 28% $20.5B Loans $5.7B MBS 53% $12.1B $16.3B $16.9B 59% CMO 29% CRE 74% Total Deposits
Slide 17: Q3 2026 Financial Highlights
Q3 2026 Financial Highlights • Core net income = $83.1 million • $8.1 million acquisition expense Profitability • Net interest margin (TE) = 3.89% • Adjusted efficiency ratio = 42.10%* • Adjusted ROAA = 1.59%* • Net income = $78.1 million / EPS = $0.44 • Pretax pre provision income* = $105.1 million
Slide 18: Selected Ratios
Selected Ratios 2023 2024 2025 Q3’25 Q2’26 Q3’26 ROATCE* 18.48% 14.95% 14.28% 14.11% 10.85% 16.22% NIM 3.31% 3.09% 3.36% 3.33% 3.72% 3.89% Cost of Deposits 0.41% 0.88% 0.85% 0.86% 0.83% 0.79% Performance Cost of Funds 0.83% 1.32% 1.03% 1.05% 0.96% 0.96% Efficiency Ratio 42.00% 46.55% 46.03% 45.56% 6
Slide 19: Selected Highlights
Selected Highlights ($ in Thousands) Q3’25 Q2’26 Q3’26 Net Interest Income $ 115,577 $ 162,415 $ 179,066 Noninterest Income 13,006 17,010 16,494 Noninterest Expense, excluding Acquisition Related Expenses & Provision for Unfunded 58,076 78,728 82,340 Loan Commitments Acquisition Related Expenses — 3
Slide 20: Selected Highlights
Selected Highlights Q3’25 Q2’26 Q3’26 ($ in Thousands) Average Cash & Cash Equivalents $ 785,483 $ 836,751 $ 755,809 Average Loans 8,372,383 11,548,138 12,024,828 Average Total Securities 4,835,928 5,270,895 5,760,514 Average Balance Average Noninterest-bearing Deposits 7,123,511 8,123,844 8,454,481
Slide 21: Earnings Per Share
Earnings Per Share 198 Consecutive Quarters or 49+ Years $0.44 $0.40 $0.37 $0.37 $0.38 $0.38 $0.36 $0.36 $0.29 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Earnings per Share cbbank.com 21
Slide 22: Consistently High Returns – ROAA Trend
Consistently High Returns – ROAA Trend CVBF KRX* Adjusted ROAA** Community Bank acquisition 1.84% Heritage acquisition Suncrest acquisition 1.61% 1.59% 1.42% 1.37% 1.38% 1.39% 1.35% 1.36% 1.36% 1.26% 1.24% 1.36% 1.32% 1.28% 1.23% 1.20% 1.19% 1.09% 1.03% 0.96% 0.93% 0.66% 2017 2018 2019 2020 2021 202
Slide 23: Dividends – 148 Consecutive Quarters
Dividends – 148 Consecutive Quarters 148 Consecutive Quarters 37 years of consecutive cash dividends $0.20 $0.20 $0.20 $0.20 $0.20 $0.20 $0.20 $0.20 $0.20 73.25% 54.62% 55.01% 54.50% 54.79% 52.39% 53.32% 49.38% 45.14% Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Dividends per Share Dividend
Slide 24: Capital Ratios Q1 vs Q3 & Buyback
Capital Ratios Q1 vs Q3 & Buyback Q1 26 Q3 26 CET 1 Ratio 16.3% 14.8% TCE Ratio* 10.5% 9.9% Tangible Book Value Per Share $11.42 $10.92 Board authorized Share Repurchase Program up to 15 Million Shares – June 15, 2026 Impact of Heritage Acquisition and Share Repurchase Program on CVBF Common Sto
Slide 25: Net Interest Income and NIM
Net Interest Income and NIM ($ in Millions) 4.78% $179.1 4.62% 4.43% 4.32% 4.35% $162.4 3.89% 3.72% 3.49% 3.44% 3.33% $122.7 $115.6 $117.8 1.05% 1.01% 0.96% 0.96% 0.97% Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Earning Asset Yield Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Net Interest Margin Cost of Funds cbbank.com 25
Slide 26: Noninterest Income
Noninterest Income $17.0 ($ in Millions) $16.5 $1.7 $0.7 $15.2 $14.0 $14.3 $1.2 $0.7 $3.5 $4.1 $1.0 Other* $3.3 $2.1 $3.1 $0.6 $0.7 $0.7 $0.8 $0.7 $0.7 BOLI Income $0.7 $0.7 $0.6 $0.5 $4.2 $3.8 Bankcard services $3.9 $4.0 $3.7 International banking income Trust and investment $6.3 $6.5 services $5.6
Slide 27: Noninterest Expense
Noninterest Expense ($ in Thousands) Q3’26 Q2’26 QoQ Salaries and employee $ 47,608 $ 46,568 $ 1,040 benefits Occupancy and 8,510 8,293 217 equipment Professional services 3,708 3,250 458 Computer software & 45.17% telecommunications 6,446 6,883 (437) 44.40% 44.61% expense 43.88% Amortization of int
Slide 28: Loans by Type – Q2 vs Q3
Loans by Type – Q2 vs Q3 6/30/2026 9/30/2026 SFR Mortgage D&L and SFR D&L and SBA 3% Agribus. SBA Mortgage Agribus. 4% 3% 4% 3% 2% Other Other C&I 4% C&I 4% 12% 12% CRE CRE Owner Owner 24% 23% CRE Non- Owner 51% CRE Non- Owner 51% Average Coupon: 5.37% Average Coupon: 5.46% Note: Weighted average co
Slide 29: Loan Growth – YTD'26 and Q3'26
Loan Growth – YTD’26 and Q3’26 ($ in Millions) 2026 YTD Loan Portfolio Change 1,222 12,122 3,479 69 (327) (1,015) 8,699 HBC Acquisition* New Originations Line Utilization Change 12/31/2025 SFR Sale* Paydown 9/30/2026 2026 Q3 Loan Portfolio Change 12,017 407 12,122 - - 57 (359) HBC Acquisition* New O
Slide 30: Line Utilization Trends
Q4 2022 51% Q1 2023 Q2 2023 Q3 2023 45% Q4 2023 48% cbbank.com Q1 2024 Q2 2024 Q3 2024 45% Q4 2024 49% Q1 2025 Total Q2 2025 Q3 2025 43% Q4 2025 48% Q1 2026 Q2 2026 Q3 2026 42% Q4 2022 78% Q1 2023 Q2 2023 Q3 2023 73% Q4 2023 80% Q1 2024 Line Utilization Trends Q2 2024 Q3 2024 71% Q4 2024 D&L 81% Q1
Slide 31: Classified Loan Trend
Classified Loan Trend Classified Loan% of Total Loans 0.92% 0.91% 0.94% 0.60% 0.96% Classified Loan% Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 $113.91 ($ in Millions) $109.72 Other* Classified Loan Balance $10.62 $10.56 SFR mortgage $6.90 $83.06 $8.95 $78.18 $5.60 SBA $8.30 $36.15 $11.27 $35.68 $7.55
Slide 32: ACL Trend
ACL Trend ACL Coverage Ratio 1.05% 1.04% 0.94% 0.89% 0.93% Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 ($ in Millions) Total ACL $126.7 $125.6 $79.3 $77.2 $80.2 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 cbbank.com 32
Slide 33: Investment Portfolio
Investment Portfolio Investment Portfolio Mix – Q3’26 Historical Yield 6,000 3.00% Other Millions Municipal 8% CMBS 2.90% 7% 19% 5,500 2.80% 5,000 2.70% CMO 2.60% 14% 4,500 2.50% MBS 4,000 2.40% 52% Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Avg. Investment Securities Avg.Security Yield Increased Investment in F
Slide 34: Deposit & Customer Repurchase Agreements
Deposit & Customer Repurchase Agreements 6/30/2026 9/30/2026 Total Deposits & Repos: Total Deposits & Repos: $16,852 $16,302 Total Time CBB Repo Total Time CBB Repo Deposits Sweep Deposits Sweep 4% 3% 4% 3% Savings + Savings + Money Money Market Market 36% 35% Demand Demand Deposit Deposit Accounts
Slide 35: Business vs Consumer Deposits
Business vs Consumer Deposits Q3 2026 Consumer 16% Non- Analyzed Business Analyzed Accounts Business 59% Accounts 25% cbbank.com 35
Slide 36: Diverse Deposit Base
Diverse Deposit Base Finance and Insurance Consumer 11% Construction 16% 9% Other Real Estate Rental Other Industries and Leasing 8% 8% Agriculture, Forestry, Fishing and Hunting 1% Other Services (except Public Administration) Retail Trade 8% 2% Educational Services 3% Property Management Escrow an
Slide 37: Cost of Deposits
Cost of Deposits 6.00% CVBF KRX Fed Funds Rate 5.00% 4.00% 4.00% For the Last 5 Years CVBF Ranked #1 with the Lowest Cost of Deposits of the 50 Banks in the KRX Index 3.00% 2.34% 2.00% 1.76% 0.98% 1.00% 0.79% 0.15% 0.03% 0.00% Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2022 2023 2024 2025
Slide 38: Cost of Deposits: Monthly Trends
Cost of Deposits: Monthly Trends CVBF Cost of Deposit Detail Cost of Non-Maturity Deposits Cost of Time Deposits 2.75% 2.72% 2.66% 2.82% 2.84% 2.83% 2.94% 2.97% 2.82% CVBF Cost of Deposits 2.36% 2.29% 2.21% vs. Effective Federal Funds Rate .75% .72% .71% .70% .67% .67% .67% .72% .72% .73% .73% .72%
Slide 39: Interest Rate Risk
Interest Rate Risk Net Interest Income 9/30/26 Static Balance Sheet Projections 9/30/2026 Yield (9/30/26 Yield Curve vs Parallel Yield Curve Changes) Curve - Base Case 12 Month Ramp Up 200bps 1 12 Month Ramp 1 1 1 Up 100bps 1 1 1 12 Month Ramp 1 1 Dn 100bps 12 Month Ramp Dn 200bps Q1 Q2 Q3 Q4 Q5 Q6
Slide 40: Appendix & Non-GAAP Reconciliation
Appendix & Non-GAAP Reconciliation cbbank.com
Slide 41: Acquisition of Heritage Bank of Commerce
Acquisition of Heritage Bank of Commerce Expands Presence Attractive Strongly Aligned into Desirable Bay Financial Returns Business Models Area Markets • IRR = 20% • NPA ratio .08% • Addition of 16 • EPS Accretion = 13% • Business deposits = Business Financial • ROAA =1.50% 83% of total Centers • RO
Slide 42: Fair Value Acquired Heritage Assets & Liabilities - 4/17/26
Fair Value Acquired Heritage Assets & Liabilities- 4/17/26 Acquired April 17, Re-structure Post-Restructure ($ in Millions) 2026 Total Cash and Cash Equivalents $ 548 $ 815 $ 1,364 Total Investment Securities 1,016 (488) 528 Loans held for sale 327 (327) - PCD Loans 99 - 99 PSL Loans 3,053 - 3,053 A
Slide 43: CRE by Collateral
CRE by Collateral ($ in Millions) % of Classified Collateral LTV at Classified Balance Owner Avg. Size Classified (Non- Type Occupied Origination (Owner) Owner) Industrial $ 2,708 46% 48% $ 1.73 $ 34.83 $ 10.46 $ 24.36 Office 1,468 26% 52% 1.75 11.80 10.02 1.78 Retail 1,388 11% 45% 1.73 3.53 3.53 0.
Slide 44: CRE by Collateral and Origination
CRE by Collateral and Origination ($ in Millions) Balance Distribution by Origination Year Average OLTV By Origination Year Collateral 2021 or 2021 or Balance 2026 2025 2024 2023 2022 2026 2025 2024 2023 2022 Type earlier earlier Industrial $ 2,708 9% 11% 5% 8% 17% 50% 45% 45% 44% 40% 45% 51% Office
Slide 45: CRE by Collateral and Loan Size
CRE by Collateral and Loan Size ($ in Millions) Other RE Multi- Loan Amount Industrial Office Retail Other Farmland Medical Rental and Total Family Leasing Greater than $ 24 $ 22 $ 0 $ 0 $ 0 $ 21 $ 22 $ 0 $ 89 $20M $10M to $20M 138 154 109 96 17 58 34 50 656 $5M to $10M 580 357 232 183 183 74 62 163
Slide 46: Loans – Maturity & Repricing
Loans – Maturity & Repricing ($ in Millions) Balance Distribution by Maturity or Reset as of 09/30/2026 Variable Fixed / Adjustable Loan Type ≤ 1 Year ≤ 1 Year 1-3 Years 3-5 Years 5-10 Years > 10 Years Grand Total Commercial real estate $ 880 $ 606 $ 1,778 $ 3,028 $ 2,458 $ 282 $ 9,033 Commercial an
Slide 47: C&I by Industry
C&I by Industry ($ in Millions) % of C&I Industry Balance Total Classified Construction: Real Estate Rental and Leasing $ 266 18% $ 7.87 12% Manufacturing: Construction 180 12% 0.44 12% Wholesale Trade:7% Manufacturing 174 12% 14.01 Real Estate Rental and Wholesale Trade 100 7% 7.45 Leasing:18% Heal
Slide 48: Loan Growth – Q1'26 and Q2'26
Loan Growth –Q1’26 and Q2’26 ($ in Millions) 2026 Q2 Loan Portfolio Change 3,479 477 97 12,017 (327) (348) 8,643 HBC Acquisition* New Originations Line Utilization Change 3/31/2026 SFR Sale* Paydown 6/30/2026 2026 Q1 Loan Portfolio Change 8,699 - - 338 8,643 (308) (85) HBC Acquisition* New Originati
Slide 49: Classified Loans / Total Loans (%)
Classified Loans / Total Loans (%) CVBF KRX 2.4% 2.4% 2.4% 2.3% 2.3% 2.3% 2.2% 2.1% 2.0% 2.0% 1.8% 1.6% 1.6% 1.5% 1.4% 1.4% 1.5% 1.2% 1.2% 1.2% 1.1% 1.1% 1.0% 0.9% 1.0% 0.9% 0.9% 0.9% 0.9% 0.9% 0.7% 0.7% 0.6% 4Q'18 4Q'19 4Q'20 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 2
Slide 50: Net Charge-Offs / Average Loans (%)
Net Charge-Offs / Average Loans (%) CVBF KRX 0.08% 0.07% 0.06% 0.06% 0.06% 0.06% 0.05% 0.05% 0.05% 0.05% 0.05% 0.04% 0.03% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 cbbank.co
Slide 51: CET1 Ratio Trend (%)
CET1 Ratio Trend (%) CVBF KRX HTBK Acquisition 16.5% 16.5% 16.3% 16.3% 16.2% ASR / Suncrest 15.9% 15.8% Acquisition 15.3% 14.9% 15.0% 14.8% 14.8% 14.7% 14.7% 14.8% 13.6% 12.8% 12.8% 12.8% 12.8% 12.7% 12.8% 12.6% 12.7% 12.5% 12.5% 12.2% 12.2% 12.3% 12.1% 11.8% 4Q'19 4Q'20 4Q'21 4Q'22 4Q'23 1Q'24 2Q'2
Slide 52: TCE Ratio Trend (%)
TCE Ratio Trend (%) CVBF KRX HTBK 12.2% Acquisition 10.5% 10.1% 10.3% ASR / Suncrest 10.0% 10.0% Acquisition 9.8% 9.9% 9.7% 9.8% 9.6% 9.2% 9.7% 8.7% 8.5% 9.2% 8.3% 9.1% 9.2% 9.1% 9.0% 8.8% 8.8% 8.6% 8.6% 8.6% 7.4% 8.1% 8.2% 8.1% 7.4% 4Q'19 4Q'20 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25
Slide 53: Economic Forecast – GDP
Economic Forecast – GDP Real GDP Growth 4.00 3.50 3.00 2.50 2.00 1.50 1.00 0.50 - (0.50) Q2 2026 Forecast Q3 2026 Forecast cbbank.com 53
Slide 54: Economic Forecast – Unemployment
Economic Forecast – Unemployment Unemployment Rate 6.00 5.50 5.00 4.50 4.00 Q2 2026 Forecast Q3 2026 Forecast cbbank.com 54
Slide 55: Economic Forecast – CRE Price
Economic Forecast – CRE Price CRE Price Index Growth 8.00 6.00 4.00 2.00 - (2.00) (4.00) (6.00) Q2 2026 Forecast Q3 2026 Forecast cbbank.com 55
Slide 56: Reconciliation of Adjusted Return on Average Assets Ratio (Non-GAAP)
Reconciliation of Adjusted Return on Average Assets Ratio (Non-GAAP) The adjusted return on average assets ratio is a non-GAAP disclosure. We use certain non-GAAP financial measures to provide supplemental information regarding our performance. We believe that presenting the adjusted return on avera
Slide 57: Reconciliation of Adjusted Return on Average Tangible Common Equity (Non-GAAP)
Reconciliation of Adjusted Return on Average Tangible Common Equity (Non-GAAP) The adjusted return on average tangible common equity is a non-GAAP disclosure. We use certain non-GAAP financial measures to provide supplemental information regarding our performance. We believe that presenting the adju
Slide 58: Reconciliation of Adjusted Efficiency Ratio (Non-GAAP)
Reconciliation of Adjusted Efficiency Ratio (Non-GAAP) The adjusted efficiency ratio is a non-GAAP disclosure. We use certain non-GAAP financial measures to provide supplemental information regarding our performance. We believe that presenting the adjusted efficiency ratio provides additional clarit
Slide 59: Reconciliation of Pretax Pre-Provision Income and Tangible Common Equity Ratio
Reconciliation of Pretax Pre-Provision Income and Tangible Common Equity Ratio (Non-GAAP) Pretax pre-provision income is a Non-GAAP financial measure that represents total revenue less noninterest expense and is calculated before provision for credit losses and income tax expense. For the Year Ended
Slide 60: Copy of presentation at www.cbbank.com
Copy of presentation at www.cbbank.com cbbank.com