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Inland Empire Business News August 13, 2014.002
Inland Empire Business News August 13, 2014.002

Record earnings for Inland bank

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.

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