Saturday , June 22 2024
CVB Financial posts another solid quarter

CVB Financial releases quarterly earnings

CVB Financial Corp. has reported a net income of $48.6 million for the first quarter of 2024, essentially unchanged from the previous quarter but down from $59.3 million in first quarter of 2023.

Earnings per share were 35 cents during the first quarter, unchanged from the fourth quarter of 2023 but down seven cents per share year-over-year, the Ontario-based financial institution reported recently.

“Citizens Business Bank continues to perform consistently in a challenging operating environment,” said David Brager, CVB Financial’s president and chief executive officer, in a statement. “Our financial performance is highlighted by our 188 consecutive quarters of profitability and 138 consecutive quarters of paying cash dividends.”

CVB Financial is the holding company for Citizens Business Bank. It is one of the 10 largest bank holding companies based in California, with approximately $16 billion in assets. It has more than 60 banking centers and three trust office statewide, according to the statement.

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