News & Media
CVB Financial Corp Statement of Condition Q1 2019
CVB Financial Corp. reported record earnings for the first quarter of 2019. Net income was $51.6 million compared to $34.9 million for the first quarter of 2018. We also announced our 168th consecutive quarter of profitability and our 118th consecutive cash dividend paid to shareholders.
Financial highlights for the first quarter include total assets of $11.30 billion at March 31, 2019, total deposits and customer repurchase agreement sweeps of $9.12 billion, and total loans of $7.61 billion.
We continued to receive outside recognition for our strong financial performance as Forbes ranked CVB Financial Corp. as the #1 Best Bank in California and #4 Best Bank in the Nation on the 2019 Best Banks in America list. BauerFinancial once again awarded us their Five-Star Superior rating for 2019, and S&P Global ranked us as the #2 Best-Performing Bank in the Nation for 2018. These are high accolades. I want to thank all of our associates for their excellence and tremendous effort.
CitizensTrust, our wealth management division that provides trust, investment, and brokerage related services, as well as financial, estate and business succession planning, had approximately $2.72 billion in assets under management and administration, including $1.92 billion in assets under management at quarter end.
Shares of CVB Financial Corp. common stock are listed on the NASDAQ under the ticker symbol “CVBF.” If you are new to CVB Financial Corp. and would like more information about Citizens Business Bank, our principal financial services subsidiary, please visit our website, cbbank.com. Additional information about CVB Financial Corp. is available on the website under the “Investors” tab.
On behalf of our Board of Directors and all of our associates, we thank our customers and shareholders for their continued loyalty and support.
President & Chief Executive Officer
CVB Financial Corp., Citizens Business Bank