CVB FINANCIAL CORP. (NASDAQ - CVBF)
2009 Y 2010 Y 2011 Y 2012 Y 2013 Q1 YTD Source Document 12/31/2011 12/31/2012 12/31/2012 12/31/2012 3/31/2013 Currency Code USD USD USD USD USD (in thousands) Loans held-for-sale 5 54 56 21 NA Loans and leases, including fees 206,074 213,932 194,448 183,125 41,654 Accretion on acquired loans 0 26,740 12,586 22,607 4,393 Loans, including fees 206,079 240,726 207,090 205,753 46,047 Investment securities Taxable 76,798 49,720 37,310 32,025 6,747 Tax-advantaged 27,329 25,394 23,640 22,718 5,541 Total investment income 104,127 75,114 60,950 54,743 12,288 Dividends from FHLB stock 195 324 242 671 343 Federal funds sold 343 868 995 616 14 Interest-earning deposits with other institutions 15 257 443 439 121 Total interest income 310,759 317,289 269,720 262,222 58,813 Deposits 24,956 18,253 8,708 5,911 1,241 Borrowings 59,572 36,354 23,002 16,662 2,700 Junior subordinated debentures 3,967 3,365 3,329 2,699 283 Total interest expense 88,495 57,972 35,039 25,272 4,224 Net interest income before provision for credit losses 222,264 259,317 234,681 236,950 54,589 Provision for credit losses 80,500 61,200 7,068 0 0 Net interest income after provision for credit losses 141,764 198,117 227,613 236,950 54,589 Impairment loss on investment securities (1,994) (317) (254) 0 NA Plus - Reclassification of credit-related impairment loss from other comprehensive income 1,671 (587) (402) 0 NA Net impairment loss on investment securities recognized in earnings (323) (904) (656) 0 NA Service charges on deposit accounts 14,889 16,745 15,768 16,106 3,826 Trust and investment services 6,657 8,363 8,683 8,169 2,005 Bankcard services 2,338 2,776 3,144 3,650 839 BOLI income 2,792 3,125 3,259 2,973 743 Gain on sale of securities, net 28,446 38,900 0 0 2,094 Decrease in FDIC loss sharing asset, net 0 (15,856) 171 (21,916) (4,023) Gain from SJB acquisition 21,122 NA NA NA NA Other 5,150 3,965 3,847 6,921 1,261 Total noninterest income 81,071 57,114 34,216 15,903 6,745 Salaries and employee benefits 62,985 69,419 69,993 68,496 17,300 Occupancy and equipment 18,361 19,348 16,583 15,473 3,682 Professional services 6,965 13,308 15,031 6,249 1,596 Software licenses and maintenance 2,320 5,031 3,669 4,269 1,152 Promotion 6,528 6,084 4,977 4,869 1,258 Amortization of intangibles 3,163 3,732 3,481 2,159 438 Debt termination expense NA 18,663 3,310 20,379 NA OREO expense 1,211 7,490 6,729 2,146 330 Prepayment penalties on borrowings 4,402 NA NA NA NA Other 27,651 25,417 17,252 14,120 5,042 Total noninterest expense 133,586 168,492 141,025 138,160 30,798 Earnings before income taxes 89,249 86,739 120,804 114,693 30,536 Income taxes 23,830 23,804 39,071 37,413 8,921 Net earnings 65,419 62,935 81,733 77,280 21,615 Preferred stock dividends and amortization of preferred stock discount 12,763 NA NA NA NA Net earnings allocated to common shareholders 52,656 NA NA NA NA Unrealized loss on securities arising during the period 24,086 3,160 61,490 3,074 (11,696) Less - Reclassification adjustment for net gain on securities included in net income (28,123) (37,996) (656) 0 (2,094) Other comprehensive loss, before tax (4,037) (34,836) 60,834 3,074 (13,790) Income tax benefit related to items of other comprehensive loss 1,696 14,631 (25,550) (1,292) 5,792 Other comprehensive loss, net of tax (2,341) (20,205) 35,284 1,782 (7,998) Comprehensive income 63,078 42,730 117,017 79,062 13,617 Basic earnings per common share 0.56 0.59 0.77 0.74 0.21 Diluted earnings per common share 0.56 0.59 0.77 0.74 0.21 Cash dividends declared per common share 0.34 0.34 0.34 0.34 0.09
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