IE Business Daily Business news for the Inland Empire.
CVB Financial Corp has completed another solid quarter.
The Ontario-based financial institution reported earnings of $24.3 million, or 23 cents per share, for the third quarter, according to the quarterly earnings report it released Wednesday.
That marks the 150th consecutive profitable quarter for CVB Financial and the 100th consecutive quarter the company – the parent of Citizens Business Bank – has paid a dividend to its shareholders.
Both the earnings and earnings per share numbers were virtually unchanged from the third quarter of 2013, according to the report.
“We are pleased with the overall financial results for the third quarter of 2014, which includes $85 million in overall loan growth and a $75 million increase in non-bearing deposits, quarter over quarter,” said Chris Myers, president and chief executive officer CVB Financial, in a statement.
The company also reported $78.4 million in net income for the first nine months of this year, up $8.1 million – 11.5 percent – compared with the first nine months of 2013. Earnings per share for the first three quarters of 2014 were 74 cents, up from 67 cents per share for the same period in 2013, according to the report.
