CVB Financial (CVBF) investor relations material

Executive summary

• Reported net earnings of $48.3 million ($0.29 per share) for Q2 2026, down from prior periods due to acquisition expenses, marking 197 consecutive profitable quarters and 147 consecutive quarters of cash dividends.

• Completed the acquisition and integration of Heritage Bank of Commerce/Heritage Commerce Corp., adding $5.41 billion in assets, $3.4 billion in loans, and $4.7 billion in deposits, and expanding presence in California.

• Integration of core banking systems completed by quarter-end, with successful customer transition and enhanced online banking platform.

• Assets totaled $21.18 billion at quarter end, up 36.6% from Q1 2026, primarily due to the Heritage acquisition.

• Maintains a relationship-driven model targeting the top 25% of privately-held and family-owned businesses with annual revenues of $1–300 million.

Financial highlights

• Net earnings of $48.3 million, down from $51 million in Q1 2026 and $50.6 million in Q2 2025; core net income was $73.4 million, with EPS of $0.29, impacted by $31.4 million in acquisition expenses.

• Net interest income rose to $162.4 million, up 45.5% year-over-year, driven by higher earning assets and a 28-basis point NIM expansion to 3.72%.

• Noninterest income increased to $17 million, up $2.7 million from Q1, with growth across most fee categories.

• Noninterest expense was $114.4 million, including $31.4 million in acquisition costs; core non-interest expense was $75.2 million.

• Total assets reached $21.18 billion, with organic loan growth of $477 million and total loans at $12.02 billion.

Outlook and guidance

• Targeting EPS accretion of 13% or greater in 2027, with a return on average assets of 1.50% and return on tangible common equity of 17%.

• Management confident in outperforming ROA targets, focused on capital deployment and disciplined M&A, targeting banks with $3–10 billion in assets.

• Full impact of expense synergies expected by early 2027, with Q4 2026 reflecting a cleaner run rate.

• Interest rate risk modeling shows net interest income could increase by up to 7% in a +200bps rate scenario, but decrease by 8% in a -200bps scenario.

• Economic forecasts anticipate real GDP growth below 2% through 2027 and unemployment above 5% into 2028.