CVB FINANCIAL CORP. CVBF Income Statement

Cvb financial corp. (CVBF)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Interest income:
Loans held-for-sale
-	-	-	-	-	-	-	-	-	54	5
Loans and leases, including fees
397,628	293,284	214,126	192,992	185,663	181,619	179,631	205,753	194,504	213,932	206,074
Accretion on acquired covered loans
-	-	-	-	-	-	-	-	12,586	26,740	-
Loans, including fees
-	-	-	-	-	-	-	-	207,090	240,726	206,079
Investment securities:
Investment securities available-for-sale
39,330	45,988	49,778	47,702	63,190	68,214	50,211	-	-	-	-
Investment securities held-to-maturity
17,388	18,901	21,015	20,227	9,018	164	188	-	-	-	-
Total investment income
56,718	64,889	70,793	67,929	72,208	68,378	50,399	54,743	60,950	75,114	104,127
Taxable
-	-	-	-	-	-	-	32,025	37,310	49,720	76,798
Tax-advantaged
-	-	-	-	-	-	-	22,718	23,640	25,394	27,329
Dividends from FHLB stock
1,235	2,045	1,375	2,224	2,774	2,130	2,033	671	242	324	195
Interest-earning deposits with other institutions
2,269	1,642	932	1,905	868	776	489	439	443	257	15
Federal funds sold
-	-	-	-	-	-	221	616	995	868	343
Total interest income
457,850	361,860	287,226	265,050	261,513	252,903	232,773	262,222	269,720	317,289	310,759
Interest expense:
Deposits
17,120	9,825	6,044	5,957	5,266	4,977	4,887	5,911	8,708	18,253	24,956
Borrowings and customer repurchase agreements
3,959	2,067	1,579	1,478	2,867	10,991	10,999	16,662	23,002	36,354	59,572
Junior subordinated debentures
999	923	673	541	438	421	621	2,699	3,329	3,365	3,967
Total interest expense
22,078	12,815	8,296	7,976	8,571	16,389	16,507	25,272	35,039	57,972	88,495
Net interest income before provision for credit losses
435,772	349,045	278,930	257,074	252,942	236,514	216,266	236,950	234,681	259,317	222,264
Provision for credit losses
5,000	1,500	-8,500	-6,400	-5,600	-16,100	16,750	0	-7,068	61,200	80,500
Net interest income after provision for credit losses
430,772	347,545	287,430	263,474	258,542	252,614	233,016	236,950	227,613	198,117	141,764
Noninterest income:
Impairment loss on investment securities
-	-	-	-	-	-	-	-	254	317	1,994
Plus: Reclassification of credit-related impairment loss from other comprehensive income
-	-	-	-	-	-	-	-	402	587	-1,671
Net impairment loss on investment securities recognized in earnings
-	-	-	-	-	-	-	-	656	904	323
BOLI income
5,798	4,018	3,420	2,612	2,561	2,428	2,511	2,973	3,259	3,125	2,792
Gain on OREO, net
129	3,546	6	-20	-	-	3,131	1,544	-	-	-
Gain on sale of loans
-	-	-	1,101	732	6,001	-	0	-	-	-
(Loss) gain on sale of securities, net
-	-	-	-	-	-	2,094	0	-	38,900	28,446
Decrease in FDIC loss sharing asset, net
-	-	-	-	-	-3,591	-12,860	-21,916	171	-15,856	-1,398
Gain on sale of building, net
4,776	0	542	-	-	-	-	-	-	-	-
Gain on eminent domain condemnation, net
5,685	0	2,894	-	-	-	-	-	-	-	-
Gain from SJB acquisition
-	-	-	-	-	-	-	-	-	-	21,122
Other
9,956	6,588	6,196	4,277	2,887	4,292	2,936	5,377	3,847	3,965	5,150
Total noninterest income
59,042	43,481	42,118	35,552	33,483	36,412	25,287	15,903	34,216	57,114	81,071
Noninterest expense:
Salaries and employee benefits
119,475	100,601	87,065	82,630	78,618	76,644	71,015	68,496	69,993	69,419	62,985
Occupancy and equipment
21,289	20,841	16,756	15,641	14,892	15,264	14,504	15,473	16,583	19,348	18,361
Professional services
7,752	6,477	5,940	5,054	5,757	5,460	5,709	7,170	15,031	13,308	6,965
Software licenses and maintenance
9,826	8,655	6,385	5,465	5,368	5,402	4,671	4,279	3,669	5,031	2,320
Marketing and promotion
5,890	5,302	4,839	5,027	5,015	5,195	4,681	4,869	4,977	6,084	6,528
Recapture of provision for unfunded loan commitments
0	250	400	450	500	1,250	-500	1,000	918	-	-
Amortization of intangible assets
10,798	5,254	1,329	1,106	-	-	1,127	2,159	3,481	3,732	3,163
Debt termination expense
-	-	-	-	13,870	0	0	20,379	3,310	18,663	4,402
OREO expense
-	-	-	-	-	-	856	2,146	6,729	7,490	1,211
Insurance reimbursements
-	-	-	-	-	-	4,155	921	-	-	-
Acquisition related expenses
6,447	16,404	2,251	1,897	475	1,973	-	0	-	-	-
Impairment loss on asset held-for-sale
-	-	-	-2,558	0	-	-	-	-	-	-
Legal settlement
-	-	-	1,500	0	-	-	-	-	-	-
Other
17,263	16,627	16,588	16,312	17,164	17,541	15,120	15,110	18,170	25,417	27,651
Total noninterest expense
198,740	179,911	140,753	136,740	140,659	126,229	114,028	138,160	141,025	168,492	133,586
Earnings before income taxes
291,074	211,115	188,795	162,286	151,366	162,797	144,275	114,693	120,804	86,739	89,249
Income taxes
83,247	59,112	84,384	60,857	52,221	58,776	48,667	37,413	39,071	23,804	23,830
Net earnings
207,827	152,003	104,411	101,429	99,145	104,021	95,608	77,280	81,733	62,935	65,419
Other comprehensive income:
Unrealized gain on securities arising during the period, before tax
43,872	-28,526	-14,629	-17,966	-17,550	69,661	-88,562	3,074	61,490	3,160	24,086
Preferred stock dividends and amortization of preferred stock discount
-	-	-	-	-	-	-	-	-	-	12,763
Net earnings allocated to common shareholders
-	-	-	-	-	-	-	-	-	-	52,656
Less: Reclassification adjustment for net gain on securities included in net income
-5	0	-402	548	-22	0	2,094	0	656	-37,996	28,123
Other comprehensive income (loss), before tax
43,867	-28,526	-15,031	-18,514	-17,528	69,661	-90,656	3,074	60,834	-34,836	-
Less: Income tax benefit related to items of other comprehensive income
12,969	-8,434	-6,312	-7,776	-7,362	29,256	-38,075	1,292	25,550	-14,631	1,696
Other comprehensive income, net of tax
30,898	-20,092	-8,719	-10,738	-10,166	40,405	-52,581	1,782	35,284	-20,205	-4,037
Other comprehensive income, net of tax
-	-	-	-	-	-	-	-	-	-	-2,341
Comprehensive income
238,725	131,911	95,692	90,691	88,979	144,426	43,027	79,062	117,017	42,730	63,078
Basic earnings per common share
1.48	1.25	0.95	0.94	0.93	0.98	0.91	0.74	0.77	0.59	0.56
Diluted earnings per common share
1.48	1.24	0.95	0.94	0.93	0.98	0.91	0.74	0.77	0.59	0.56
Cash dividends declared per common share
-	-	-	-	0.48	0.40	0.38	0.34	0.34	0.34	0.34
Service Charges on Deposit Accounts [Member]
Revenue from contract with customer, including assessed tax
20,010	17,070	15,809	15,066	15,567	15,778	15,923	16,106	15,768	16,745	14,889
Trust and Investment Services [Member]
Revenue from contract with customer, including assessed tax
9,525	8,774	9,845	9,595	8,642	8,118	8,071	8,169	8,683	8,363	6,657
Bankcard Services [Member]
Revenue from contract with customer, including assessed tax
3,163	3,485	3,406	2,921	3,094	3,386	3,481	3,650	3,144	2,776	2,338