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CVB Financial reports strong third quarter

CVB Financial Corp., the holding company for Citizens Business Bank, has reported net earnings of $64.6 million for the third quarter.

That was an increase of $5.5 million from the second quarter and $14.8 million compared with the the third quarter of 2021, the Ontario-based financial institution reported.

Earnings per share were 46 cents for the third quarter, up from 42 cents in the previous quarter and 37 cents year-over-year.

The quarter that ended Sept. 30 included $2 million in provision for credit losses, compared to $3.6 million in the second quarter and a provision recapture of $4 million in the third quarter of 2021.

“We continue to focus on executing on our core strategies and supporting our customers through these unpredictable times,” said David Brager, president and chief execute officer of Citizens Business Bank, in a statement.

CVB Financial has more than $16 billion in assets and is one of the 10 largest bank holding companies based in California, according to the statement.

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One comment

  1. Mr. Ferguson – you are speaking for the people of Riverside. We are sick and tired of being told they are doing everything they can to come up with a solution, when in reality, they are just empowering the homeless and taking away our (tax paying Riverside people) rights! Great job!

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