CVB Financial (CVBF) investor relations material

Executive summary

• Reported net earnings of $55 million ($0.40 per share) for Q4 2025, marking 195 consecutive profitable quarters and 145 consecutive quarters of cash dividends.

• Full-year 2025 net income reached $209.3 million ($1.52 per share), a 4.3% increase over 2024.

• Largest financial institution headquartered in the Inland Empire, with $15.6B in assets, $8.7B in gross loans, and $12.6B in deposits as of December 2025.

• Pending acquisition of Heritage Commerce, expected to close in Q2 2026, will expand Bay Area presence and deliver significant cost synergies.

• Focused on relationship banking for privately-held and family-owned businesses with annual revenues of $1–300M.

Financial highlights

• Q4 2025 net interest income rose 6.1% sequentially to $123 million; net interest margin expanded to 3.49%.

• Full-year net interest income was $460.3 million, with a 2025 net interest margin of 3.36%.

• Total loans at year-end were $8.7 billion, up $228 million (2.7%) from Q3 and $163 million (2%) year-over-year.

• Asset quality remained strong: NPA/TA at 0.05%, classified loans at 0.61% of total, and net recoveries of $325,000 in Q4.

• Q4 2025 efficiency ratio was 46.3%; cost of deposits was 0.82%, among the lowest in the KRX index.

Outlook and guidance

• Loan pipelines remain strong into 2026, with optimism for continued growth and stable utilization.

• Management remains cautiously optimistic about 2026, expecting to benefit from the Heritage merger and new market opportunities.

• Economic forecasts project stable GDP growth and moderate unemployment through 2028.

• CRE price index growth expected to remain positive, supporting loan portfolio quality.

• Forward-looking statements caution on economic, regulatory, and integration risks, especially regarding the pending Heritage Commerce Corp merger.