News & Media
CVB Financial Corp Statement of Condition Q2 2019
CVB Financial Corp. reported the highest quarterly earnings in company history for the second quarter of 2019. Net income was $54.5 million for the quarter ended June 30, 2019, compared with $35.4 million for the second quarter of 2018. We also announced our 169th consecutive quarter of profitability and our 119th consecutive cash dividend paid to shareholders.
Financial highlights for the second quarter include total assets of $11.2 billion at June 30, 2019, total deposit and customer repurchase agreement sweep accounts of $9.1 billion, and total loans of $7.5 billion.
Citizens Business Bank recently received both national and local recognition for executing the Community Bank acquisition and integration. Bank Director Magazine ranked this merger as the fifth most transformative bank deal in the nation for 2018. And, the Orange County Chapter of the Association for Corporate Growth presented CVBF with the Spotlight Deal of the Year Award at their 2019 banquet. We are also proud to be recognized as a “W” Winning Company by 2020 Women on Boards for having a gender-diverse Board of Directors with at least 20% women directors before the year 2020.
With the acquisition fully integrated, Citizens Business Bank now operates 58 Business Financial Centers and three trust office locations throughout Southern and Central California.
CitizensTrust, our wealth management division that provides trust, investment, and brokerage-related services, as well as financial, estate and business succession planning, had approximately $2.8 billion in assets under management and administration, including $2.0 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 us on 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