IE Business Daily Business news for the Inland Empire.
CVB Financial Corp., the parent company of Citizens Business Bank, had record earnings last year.
The Ontario-based financial institution reported a net income of $104 million last year, up from a net income of $95.6 million in 2013, an increase of about ten percent, according to a statement.
Earnings per share last year were 98 cents, up from 91 cents during the previous year. Total interest income last year was $253 million, an increase of $20.1 million – 8.6 percent – compared with 2013.
Non-interest income last year was $36.4 million, up from $25.3 million year- over-year.
This marks the first time that CVB Financial has topped $100 million in net income for a calendar year, a figure that includes $303 million in deposit growth and $267 million loan growth, according to the statement.
