For Immediate Release

Contact: D. Linn Wiley, President and Chief Executive Officer, (909) 980-4030

CVB Financial Corp. Reports Second Quarter Operating Results

Ontario, CA, July 18, 2001- CVB Financial Corp. (NASDAQ:CVBF) and its subsidiary, Citizens Business Bank, announced record results for the second quarter of 2001. This included record deposits, record loans, record assets and record earnings.

The Company reported net income of $9.6 million for the second quarter ending June 30, 2001. This represents an increase of $1.2 million, or 14.17%, when compared with the $8.4 million in net income reported for the second quarter of 2000. Earnings per share for the second quarter of 2001 were $0.34 per diluted share. This is up $0.04, or 13.33%, when compared with earnings per share of $0.30 for the second quarter of 2000.

This is the 37th consecutive quarter of record earnings for the Company. Earnings results for the second quarter of 2001 produced a return on beginning equity of 20.74%, a return on average equity of 19.12% and a return on average assets of 1.71%. The efficiency ratio was 46.46%.

Net income for the six months ending June 30, 2001, was $18.5 million. This represents an increase of $2.2 million, or 13.2%, when compared with net earnings of $16.3 million for the first half of 2000. Diluted earnings per share were $0.65. This was up $0.07, or 12.1%, from diluted earnings per share of $0.58 for the same period last year. Net income for the first half of 2001 produced a return on beginning equity of 19.73%, a return on average equity of 18.65% and a return on average assets of 1.63%. The efficiency ratio for the first half was 48.60%.

At June 30, 2001, total assets were $2.33 billion. This represents an increase of $216.8 million, or 10.27%, over the $2.11 billion in total assets reported on June 30, 2000. Total deposits rose to $1.65 billion. This is up $175.9 million, or 11.91%, from $1.48 billion last year. Gross loans and leases grew to $1.07 billion as of June 30, 2001. This is an increase of $76.3 million, or 7.69%, from the $991.4 million in gross loans and leases on June 30, 2000. Trust assets were $993.6 million on June 30, 2001.

"We are pleased to complete our first half with these positive operating results," said D. Linn Wiley, President and Chief Executive Officer of CVB Financial Corp. "Our company had a 13.19% growth in net earnings over the first half of 2000 which is in line with our objective to increase earnings by 15.00% for the year."

CVB Financial Corp. reported non-performing assets of $754,000 as of June 30, 2001. This represents a ratio of non-performing assets to total assets of 0.03%. Non-performing loans were $754,000. This represents 0.07% of gross loans and leases. The allowance for loan and lease losses was $20.7 million as of June 30, 2001. This represents 1.94% of gross loans and leases, and compares with 1.83% on June 30, 2000. Non-performing loans and leases were 3.64% of the allowance for loan and lease losses.

Non-interest income showed continued growth. Non-interest income increased to $11.4 million for the first half of 2001. This was up $2.3 million, or 25.11%, from the $9.1 million reported for the first half of 2000. Non-interest income includes asset management income, service charges and deposit fees. CVB Financial Corp. continues to maintain capital ratios that exceed the well-capitalized standards established by the bank regulatory agencies.

CVB Financial Corp is the holding company for Citizens Business Bank. The Bank is the largest bank headquartered in the Inland Empire Region of Southern California. It serves 23 cities with 30 branches in Los Angeles, Orange, Riverside and San Bernardino Counties. Shares of CVB Financial Corp. common stock are listed on the NASDAQ National Market system under the ticker symbol of CVBF. For investor information on CVB Financial Corp. visit our Citizens Business Bank web site at www.cbbank.com and click on the CVB Investor Tab.

Safe Harbor

This document may contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from the projected. For a discussion of factors that could cause actual results to differ, please see the publicly available Securities and Exchange Commission filings of CVB Financial Corp., including its Annual Report on Form 10-K for the year ended December 31, 2000, and particularly the discussion of risk factors within that document.