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CVBF-News
CVBF-Events
Company Reports Q3 Revenue of $195.56M, Exceeds Expectations
Reports Q3 revenue $195.56M, consensus $192.74M. David Brager, CEO of the company, commented, "Our third-quarter results reflect solid financial performance, increased profitability, net interest margin expansion and disciplined expense management following the Heritage Bank of Commerce acquisition. The third quarter represented our 198th consecutive quarter of profitability. We remain focused on the integration, serving our customers and supporting our communities and associates as we extend our relationship-focused banking model across California's major economic centers. We are grateful for the continued trust of our customers and the dedication of our associates."
Citizens Reports Q2 Revenue of $179.4M
Reports Q2 revenue $179.4M, consensus $195.6M. David Brager, CEO, commented, "Our consistent financial performance is highlighted by our 197 consecutive quarters, or 49 years, of profitability, and our 147 consecutive quarters of paying cash dividends. I would like to thank our customers and associates for their continued commitment and loyalty, as well as our associates for the outstanding efforts and commitment to the successful systems conversion completed in June" Brager continued, "the merger with Heritage Bank of Commerce marks the most strategic and largest acquisition by asset size in our history, bringing together two premier, relationship focused business banks and advancing our longstanding objective of expanding Citizens throughout California. With the systems integration behind us, we will continue to focus on our vision of serving the comprehensive financial needs of small to medium sized businesses and their owners. We now operate in every major economic center of California and will continue to deliver our relationship focused banking model throughout the state of California."
CVB Financial Authorizes Buyback of 15 Million Shares
CVB Financial announced that the board of directors of CVB Financial authorized the company to repurchase up to 15M shares of the company's common stock, including by means of one or more Rule 10b5-1 plans or other appropriate buy-back arrangements, including open market purchases and private transactions.
CVB Financial Corp. Announces Leadership Transition
CVB Financial Corp. and its principal subsidiary, Citizens Business Bank, National Association, announced a planned leadership transition as part of its ongoing commitment to strong governance and continuity. At the conclusion of the company's annual meeting on May 20, 2026, it was decided that Hal W. Oswalt will transition from his role as Chairman to Vice-Chairman of the Boards of CVBF and CBB. At the same time, the company's Board of Directors also elected current director and Vice-Chairman George A. Borba Jr. as Chairman of the Boards of CVBF and CBB. Borba and Oswalt will assume their respective new roles immediately. Borba has served as a director and Vice Chairman of CVBF and CBB since 2012.
Citizens Business Bank Net Interest Income Grows 6.7%
Net interest income grew by $7.4M, or 6.7% from Q1 of 2025. Net interest margin of 3.44% increased by 13 basis points from Q1 of 2025. For the first quarter of 2026, annualized return on average equity was 8.86%, annualized return on average tangible common equity was 13.38%, and annualized return on average assets was 1.33%. David Brager, CEO of the company, commented, "Citizens Business Bank's performance in the first quarter demonstrates our continued financial strength and focus on our vision of serving the comprehensive financial needs of small to medium sized businesses and their owners. Our consistent financial performance is highlighted by our 196 consecutive quarters, or 49 years, of profitability, and our 146 consecutive quarters of paying cash dividends. I would like to thank our customers and associates for their continued commitment and loyalty, as well as welcoming Heritage's customers, associates and shareholders to Citizens Business Bank." Brager continued, "The merger with Heritage Bank of Commerce marks the most strategic and largest acquisition by asset size in our history, bringing together two premier, relationship focused business banks and advancing our longstanding objective of expanding Citizens throughout California by entering the Bay Area. Our team is eager to build on the strong customer and community relationships that Heritage has established. "
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