CVB FINANCIAL CORP. CVBF Income Statement

Cvb financial corp. (CVBF)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Interest income:
Loans held-for-sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17	10	20	-	-	-	-
Loans and leases, including fees
92,117	97,302	98,796	101,843	99,687	100,902	79,818	57,368	55,196	55,873	55,998	53,614	48,641	49,211	47,754	50,257	45,770	45,977	48,822	45,322	45,542	46,482	46,923	43,558	44,656	54,752	41,706	41,519	41,654	66,464	45,559	47,698	46,032	47,389	48,791	48,980	49,344	-	-	-	-
Accretion on acquired covered loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,947	3,456	4,393	-	7,045	7,521	4,692	948	3,980	5,707	1,951	-	-	-	-
Loans, including fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	44,653	44,975	46,047	-	52,604	55,219	50,724	48,290	52,788	54,697	51,315	55,621	58,165	59,172	67,768
Investment securities:
Investment securities available-for-sale
10,049	9,345	9,222	10,118	10,645	10,902	11,521	11,697	11,868	11,891	12,240	13,007	12,640	11,460	11,425	12,018	12,799	13,019	14,734	17,503	17,934	-	17,647	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment securities held-to-maturity
3,998	4,139	4,298	4,426	4,525	4,663	4,666	4,807	4,765	5,001	5,184	5,323	5,507	5,349	4,787	4,743	5,348	5,508	3,436	36	38	-	40	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total investment income
14,047	13,484	13,520	14,544	15,170	15,565	16,187	16,504	16,633	16,892	17,424	18,330	18,147	16,809	16,212	16,761	18,147	18,527	18,170	17,539	17,972	18,262	17,687	16,872	15,557	14,550	12,619	10,942	12,288	12,320	12,886	14,571	14,966	14,761	15,358	16,073	14,758	13,913	17,785	20,800	22,616
Taxable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,686	10,279	-	7,102	5,431	6,747	6,823	7,246	8,786	9,170	8,912	9,407	10,152	8,839	7,784	11,461	14,391	16,084
Tax-advantaged
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,186	5,278	-	5,517	5,511	5,541	5,497	5,640	5,785	5,796	5,849	5,951	5,921	5,919	6,129	6,324	6,409	6,532
Dividends from FHLB stock
332	304	301	298	332	1,086	329	298	332	305	318	359	393	1,014	403	439	368	382	509	1,414	469	482	518	526	604	601	622	467	343	408	79	94	90	59	52	66	65	90	105	63	66
Interest-earning deposits with other institutions
613	1,129	946	100	94	167	304	635	536	249	130	286	267	330	802	558	215	530	230	53	55	467	55	133	121	123	122	123	121	122	118	99	100	-	-	-	-	-	-	-	-
Federal funds sold
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	187	142	-	112	127	124	63	58	86	14	77	158	196	185	-57	332	346	374	110	418	238	102
Total interest income
107,109	112,219	113,563	116,785	115,283	117,720	96,638	74,805	72,697	73,319	73,870	72,589	67,448	67,364	65,171	68,015	64,500	65,087	67,731	64,515	64,180	65,330	65,295	61,216	61,062	59,293	58,074	56,593	58,813	60,133	65,845	70,179	66,065	63,496	68,530	71,182	66,512	69,991	76,473	80,273	90,552
Interest expense:
Deposits
4,124	4,567	4,589	4,093	3,871	3,784	2,967	1,549	1,525	1,497	1,555	1,559	1,433	1,413	1,525	1,582	1,437	1,333	1,333	1,307	1,293	1,341	1,228	1,222	1,186	1,260	1,228	1,158	1,241	1,306	1,398	1,554	1,653	1,721	1,979	2,220	2,788	3,814	4,310	4,841	5,288
Borrowings and customer repurchase agreements
479	404	568	1,377	1,610	671	606	337	453	366	402	382	429	361	349	345	423	381	371	342	1,773	2,708	2,724	2,729	2,830	2,815	2,768	2,716	2,700	2,729	4,086	4,876	4,971	5,716	5,748	5,742	5,796	6,192	8,652	10,390	11,120
Junior subordinated debentures
200	228	247	258	266	249	245	231	198	181	174	165	153	149	136	132	124	115	110	108	105	106	105	106	104	109	105	124	283	454	617	789	839	862	823	825	819	836	896	828	805
Total interest expense
4,803	5,199	5,404	5,728	5,747	4,704	3,818	2,117	2,176	2,044	2,131	2,106	2,015	1,923	2,010	2,059	1,984	1,829	1,814	1,757	3,171	4,155	4,057	4,057	4,120	4,184	4,101	3,998	4,224	4,489	6,101	7,219	7,463	8,299	8,550	8,787	9,403	10,842	13,858	16,059	17,213
Net interest income before provision for credit losses
102,306	107,020	108,159	111,057	109,536	113,016	92,820	72,688	70,521	71,275	71,739	70,483	65,433	65,441	63,161	65,956	62,516	63,258	65,917	62,758	61,009	61,175	61,238	57,159	56,942	55,109	53,973	52,595	54,589	55,644	59,744	62,960	58,602	55,197	59,980	62,395	57,109	59,149	62,615	64,214	73,339
Provision for credit losses
12,000	0	1,500	2,000	1,500	3,000	500	-1,000	-1,000	-1,500	-1,500	-1,000	-4,500	-4,400	-2,000	0	0	-5,100	-2,500	2,000	0	-32,200	1,000	7,600	7,500	6,800	3,750	6,200	0	-	-	0	0	-14,136	0	0	7,068	12,700	25,300	11,000	12,200
Net interest income after provision for credit losses
90,306	107,020	106,659	109,057	108,036	110,016	92,320	73,688	71,521	72,775	73,239	71,483	69,933	69,841	65,161	65,956	62,516	64,358	68,417	64,758	61,009	61,175	62,238	64,759	64,442	61,909	57,723	58,795	54,589	55,644	59,744	62,960	58,602	55,197	59,980	62,395	50,041	46,449	37,315	53,214	61,139
Noninterest income:
Impairment loss on investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	98
Plus: Reclassification of credit-related impairment loss from other comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-127	127	0	587
Net impairment loss on investment securities recognized in earnings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-427	119	-	92	127	0	685
BOLI income
2,059	1,316	1,797	1,349	1,336	1,034	936	1,069	979	516	692	1,497	715	607	706	752	547	613	491	808	649	576	613	601	638	644	497	627	743	702	781	740	750	670	733	1,149	707	730	813	737	845
Gain on OREO, net
10	0	0	24	105	6	0	0	3,540	-	2	2	-	-	-	-	-	-	-	-	-	-	127	130	5	2	-3	2,568	564	-	524	752	-	-	-	-	-	-	-	-	-
Gain on sale of loans
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,101	-	-	0	0	671	0	0	5,330	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
(Loss) gain on sale of securities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	2,094	-	-	-	-	-	-	-	-	-	30,119	8,781	-
Decrease in FDIC loss sharing asset, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	62	-479	-1,467	-1,707	-17,079	-3,248	3,444	4,023	-41,255	7,059	9,336	2,944	-947	844	1,689	-1,415	-30,656	2,630	1,587	10,583
Gain on sale of building, net
0	231	0	0	4,545	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on eminent domain condemnation, net
-	-	-	5,685	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
1,798	3,012	2,297	2,603	2,044	2,195	1,824	1,178	1,391	1,357	1,809	1,811	1,219	834	1,505	1,408	530	896	912	562	517	1,996	770	825	701	691	759	789	697	795	1,341	3,019	222	1,821	1,204	-451	1,273	773	1,631	371	1,190
Total noninterest income
11,640	12,640	11,894	18,205	16,303	10,758	10,112	9,695	12,916	12,582	10,038	10,776	8,722	8,412	9,183	9,274	8,683	8,714	8,413	8,345	8,011	9,855	8,009	7,050	11,498	5,890	4,957	7,695	6,745	5,729	2,626	2,292	5,256	10,730	7,514	5,994	9,978	7,188	36,719	15,418	-2,211
Noninterest expense:
Salaries and employee benefits
30,877	31,189	30,122	28,862	29,302	30,917	26,319	21,051	22,314	21,949	21,835	21,706	21,575	19,626	20,403	21,403	21,198	19,280	20,395	19,648	19,295	19,474	19,366	18,387	19,417	18,238	18,389	17,088	17,300	17,640	17,489	16,646	16,721	16,534	17,579	18,220	17,660	16,556	17,311	17,479	18,073
Occupancy and equipment
4,837	5,132	5,092	5,641	5,424	7,007	5,324	4,318	4,192	4,118	4,400	4,554	3,684	3,701	4,102	4,125	3,713	3,674	3,853	3,713	3,652	3,716	4,147	3,676	3,725	3,616	3,641	3,565	3,682	3,891	4,010	3,624	3,948	4,029	4,152	4,081	4,321	4,707	4,807	4,782	5,052
Professional services
2,256	2,099	1,688	2,040	1,925	2,103	1,154	1,690	1,530	1,749	1,091	1,843	1,257	1,327	1,404	1,075	1,248	1,140	1,937	1,527	1,153	-57	2,080	1,646	1,791	1,410	1,316	1,387	1,596	1,907	1,570	1,702	1,991	2,665	3,728	5,028	3,610	3,485	4,135	2,881	2,807
Software licenses and maintenance
2,816	2,221	2,450	2,542	2,613	2,819	2,317	1,759	1,760	1,687	1,510	1,627	1,561	1,388	1,358	1,445	1,274	2,444	901	993	1,030	2,003	1,324	1,010	1,065	1,254	1,077	1,188	1,152	1,319	1,062	989	909	839	795	1,075	960	-	-	-	-
Marketing and promotion
1,555	1,741	1,517	1,238	1,394	1,664	1,134	1,148	1,356	1,355	1,055	1,190	1,239	1,209	1,199	1,192	1,427	1,190	1,297	1,201	1,327	1,239	1,349	1,341	1,266	1,178	1,105	1,140	1,258	1,128	1,176	1,314	1,251	1,175	1,271	1,205	1,326	-	-	-	-
Recapture of provision for unfunded loan commitments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	500	0	1,250	0	0	-	500	-	-	-	-	-	-	3,300	-1,650	-1,464	732	-	-450	-	-
Amortization of intangible assets
2,445	2,460	2,648	2,833	2,857	2,859	1,736	328	331	-	343	-	-	-	-	-	-	-	-	-	-	-	466	193	122	125	127	437	438	442	449	452	816	852	862	866	901	909	934	939	950
Debt termination expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	13,870	0	0	0	0	-	-	-	-	-	20,379	-	-	-	-	-	-	-	12,963	-	-
OREO expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	102	113	25	472	21	33	330	688	405	323	730	1,707	2,247	1,670	1,105	-	-	-	-
Insurance reimbursements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,139	-	-	-	48	-	-	-	-	-	-	-	-	-	-
Acquisition related expenses
0	442	244	2,612	3,149	8,462	6,645	494	803	75	250	1,250	676	340	353	355	849	400	75	0	0	-	640	865	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
3,855	3,789	3,774	4,760	4,940	5,250	4,251	3,466	3,660	3,538	4,222	4,703	4,125	2,627	4,187	4,843	4,655	3,784	4,284	4,451	4,645	5,445	4,257	4,093	3,746	2,991	3,677	3,410	5,042	3,837	3,528	3,899	3,846	3,596	3,874	5,010	5,690	-7,707	8,718	15,366	9,040
Total noninterest expense
48,641	49,073	47,535	50,528	51,604	60,831	48,880	34,254	35,946	35,057	34,706	36,873	34,117	34,932	33,006	34,438	34,364	31,912	32,742	31,533	44,472	31,267	32,481	31,324	31,157	29,268	25,714	28,248	30,798	28,979	50,020	28,949	30,212	100,423	-32,858	37,155	36,305	41,805	49,318	41,447	35,922
Earnings before income taxes
53,305	70,587	71,018	76,734	72,735	59,943	53,552	49,129	48,491	50,300	48,571	45,386	44,538	43,321	41,338	40,792	36,835	41,160	44,088	41,570	24,548	39,763	37,766	40,485	44,783	38,531	36,966	38,242	30,536	32,394	12,350	36,303	33,646	31,220	34,636	31,234	23,714	11,832	24,716	27,185	23,006
Income taxes
15,325	19,306	20,595	22,253	21,093	16,784	14,994	13,756	13,578	32,449	18,888	17,013	16,034	16,245	15,890	15,278	13,444	12,547	16,202	14,757	8,715	14,182	13,471	15,001	16,122	13,243	12,727	13,776	8,921	10,258	3,093	12,684	11,378	9,508	12,253	10,196	7,114	1,958	6,789	8,170	6,887
Net earnings
37,980	51,281	50,423	54,481	51,642	43,159	38,558	35,373	34,913	17,851	29,683	28,373	28,504	27,076	25,448	25,514	23,391	28,613	27,886	26,813	15,833	25,581	24,295	25,484	28,661	25,288	24,239	24,466	21,615	22,136	9,257	23,619	22,268	21,712	22,383	21,038	16,600	9,874	17,927	19,015	16,119
Other comprehensive income:
Unrealized gain on securities arising during the period, before tax
36,618	736	5,423	19,486	18,227	20,629	-10,387	-6,598	-32,170	-17,916	1,221	1,642	424	-49,020	-3,709	7,493	27,270	-23,526	18,674	-32,968	20,270	22,389	-10,291	32,782	24,781	-23,433	421	-53,854	-11,696	-8,990	8,417	3,720	-73	29,166	-283	28,316	4,291	-	-	-	-
Preferred stock dividends and amortization of preferred stock discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	58	64	-
Earnings allocated to restricted stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-54
Net earnings allocated to common shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17,869	18,951	16,065
Less: Reclassification adjustment for net gain on securities included in net income
-	-	-5	5,761	-	11,462	0	-1,951	-9,511	-	0	402	-	-	548	0	-	-	-22	-	-	0	0	0	0	0	0	0	2,094	-	-	-	-	-23,200	23,975	-119	0	-	-	-	-
Other comprehensive income (loss), before tax
-	-	5,418	-	-	-	-10,387	-	-	-	1,221	1,240	-	-	-4,257	7,493	-	-	18,696	-	-	22,389	-10,291	32,782	24,781	-23,433	421	-53,854	-13,790	-8,990	8,417	3,720	-73	-	24,258	28,435	-	-	-	-	-
Less: Income tax benefit related to items of other comprehensive income
10,826	-	1,602	-	5,388	-	-3,070	-	-	-7,524	513	521	178	-20,588	-1,788	3,147	11,453	-9,882	7,852	-13,846	8,514	9,402	-4,322	13,769	10,407	-9,841	176	-22,618	-5,792	-3,776	3,536	1,563	-31	25,465	-10,188	12,009	-1,736	-	-	-	-
Other comprehensive income, net of tax
25,792	518	3,816	13,725	12,839	14,531	-7,317	-4,647	-22,659	-10,392	708	719	246	-28,432	-2,469	4,346	15,817	-13,644	10,844	-19,122	11,756	12,987	-5,969	19,013	14,374	-13,592	245	-31,236	-7,998	-5,214	4,881	2,157	-42	497	14,070	16,426	4,291	-	-	-	-
Other comprehensive income, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,555	-	-	-	-
Comprehensive income
63,772	51,799	54,239	68,206	64,481	57,690	31,241	30,726	12,254	7,459	30,391	29,092	28,750	-1,356	22,979	29,860	39,208	14,969	38,730	7,691	27,589	38,568	18,326	44,497	43,035	11,696	24,484	-6,770	13,617	16,922	14,138	25,776	22,226	23,945	36,453	37,464	19,155	-12,374	3,439	28,812	22,853
Basic earnings per common share
0.27	0.36	0.36	0.39	0.37	0.31	0.30	0.32	0.32	0.16	0.27	0.26	0.26	0.26	0.23	0.23	0.22	0.27	0.26	0.25	0.15	0.24	0.23	0.24	0.27	0.24	0.23	0.23	0.21	0.21	0.09	0.23	0.21	0.20	0.21	0.20	0.16	0.09	0.17	0.18	0.15
Diluted earnings per common share
0.27	0.36	0.36	0.39	0.37	0.30	0.30	0.32	0.32	0.16	0.27	0.26	0.26	0.26	0.23	0.23	0.22	0.27	0.26	0.25	0.15	0.24	0.23	0.24	0.27	0.24	0.23	0.23	0.21	0.21	0.09	0.23	0.21	0.20	0.21	0.20	0.16	0.09	0.17	0.18	0.15
Cash dividends declared per common share
-	-	-	-	-	-	-	-	-	-	-	0.14	0.12	-	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08
Service Charges on Deposit Accounts [Member]
Revenue from contract with customer, including assessed tax
4,776	4,971	4,833	5,065	5,141	4,639	4,295	4,091	4,045	4,015	4,085	3,982	3,727	3,680	3,817	3,822	3,747	3,724	3,930	3,952	3,961	3,980	4,065	3,905	3,828	3,941	4,011	4,145	3,826	3,874	4,040	4,068	4,124	3,995	4,021	4,029	3,723	4,060	4,225	4,196	4,264
Trust and Investment Services [Member]
Revenue from contract with customer, including assessed tax
2,420	2,561	2,330	2,452	2,182	2,036	2,182	2,399	2,157	2,413	2,523	2,613	2,296	2,556	2,328	2,508	2,203	2,035	2,275	2,181	2,151	2,015	2,045	2,133	1,925	1,973	2,021	2,072	2,005	1,905	2,037	2,042	2,185	2,216	2,056	2,259	2,152	2,108	1,928	2,209	2,118
Bankcard Services [Member]
Revenue from contract with customer, including assessed tax
577	549	637	1,027	950	848	875	958	804	843	927	871	765	755	827	784	555	714	805	842	733	817	868	923	778	784	920	938	839	762	962	1,007	919	849	771	816	708	665	760	711	640