CVBF · CVB Financial Corp.

CVB Financial Corp. reported first quarter 2026 net earnings of $51.0 million ($0.38 per diluted share), compared to $55.0 million ($0.40 per share) in the prior quarter and $51.1 million ($0.36 per share) in the same quarter last year. The sequential decline was driven by a $4.8 million decrease in net interest income, partly due to two fewer days and a five basis point contraction in net interest margin to 3.44% (tax equivalent). The year-over-year increase in net interest income of $7.4 million was supported by higher average earning assets and a 13 basis point margin expansion. The provision for credit losses was $3.0 million, a reversal from recaptures in prior periods, largely due to a $3.2 million increase in specific reserves on one commercial and industrial credit. Noninterest income rose $3.1 million sequentially, helped by the absence of a $2.8 million loss on sale of AFS investments in Q4 2025, but fell $2.0 million year-over-year due to a prior-year gain on OREO sale. Noninterest expense decreased $1.4 million from Q4 2025, driven by lower FDIC assessment and acquisition costs, partially offset by higher marketing. The efficiency ratio improved to 45.84%. On April 17, 2026, the company completed its acquisition of Heritage Commerce Corp, marking its largest acquisition by asset size and expanding into the Bay Area. Management highlighted 196 consecutive quarters of profitability and 146 consecutive quarters of cash dividends. The company also furnished an investor slide presentation (Exhibit 99.2) for use in Q2 2026 meetings.