Oct 22, 6:01 AM ET
CVB Financial reported third-quarter 2026 net earnings of $78.1 million, or $0.44 per diluted share, up from $48.3 million and $0.29 in the second quarter and above $52.6 million and $0.38 in the third quarter of 2025. The results reflect a full quarter of the Heritage Bank of Commerce acquisition, which closed on April 17, 2026, and lower acquisition-related expenses, which fell to $8.1 million from $31.4 million.
- Net earnings of $78.1 million and diluted EPS of $0.44 for Q3 2026, compared with $48.3 million and $0.29 in Q2 2026.
- Net interest margin rose 17 basis points to 3.89% from 3.72% in Q2 2026.
- Noninterest expense fell to $90.5 million from $114.4 million in Q2 2026, with acquisition-related expenses of $8.1 million versus $31.4 million.
- Total assets were $20.52 billion at September 30, 2026, down $660.5 million from June 30, 2026.
Read the filing on SEC.gov ↗
Jul 23, 6:10 AM ET
CVB Financial reported second quarter 2026 net income of $48.3 million, or $0.29 per diluted share, down from $51.0 million and $0.38 in the first quarter and from $50.6 million and $0.37 a year earlier. Net interest income rose to $162.4 million, largely because the Heritage Commerce Corp acquisition, completed April 17, 2026, added assets and deposits, but $31.4 million of acquisition expense weighed on profit. For shareholders, the quarter shows higher revenue offset by lower earnings during the merger's first full quarter.
- Net earnings were $48.3 million, or $0.29 per diluted share, versus $0.38 in the first quarter of 2026 and $0.37 in the second quarter of 2025.
- Net interest income was $162.4 million, up $44.6 million from the first quarter; net interest margin was 3.72%, up 28 basis points.
- Acquisition expense of $31.4 million and noninterest expense of $114.4 million reflected the Heritage acquisition completed April 17, 2026.
- The board approved a 2026 repurchase program of up to 15,000,000 shares on June 15, 2026, replacing the 2024 program.
Read the filing on SEC.gov ↗
Jul 23, 6:05 AM ET
CVB Financial Corp. appointed Michael J. Maddox as a director of the Company and its bank subsidiary, Citizens Business Bank, effective July 22, 2026. The filing says the appointment raises the size of each board from 10 to 11 directors, and Mr. Maddox will receive a $77,000 annual directors' fee plus a pro-rated restricted stock grant.
- Maddox was previously CEO of CrossFirst Bankshares and later president and CEO of Busey Bank until January 2026.
- Annual directors' fee of $77,000; initial restricted stock grant to be approved at an August 23, 2026 Compensation Committee meeting.
- Both the Company and Bank boards expand from 10 to 11 directors, within their By-laws.
- Maddox will sit on the Company's Audit, Nominating and Corporate Governance, and Compensation committees.
Read the filing on SEC.gov ↗
Jun 1, 4:15 PM ET
CVB Financial and Citizens Business Bank signed a Third Amended and Restated Employment Agreement with CEO David A. Brager on June 1, 2026, extending his term to June 30, 2029, about three years early. The filing sets his base salary at $966,000, a target bonus of 120% of salary, and expanded severance and change-in-control terms.
- Agreement dated June 1, 2026 extends the prior term that was set to end June 30, 2027, through June 30, 2029.
- Base salary is $966,000 annualized; target bonus is 120% of salary, with a maximum of 180%.
- Annual equity grants are targeted at 180% of base salary, with a minimum grant value of 150%.
- Severance on termination without cause or for good reason is 2x base pay plus 2x average bonus, payable over 18 months; change-in-control severance is 2.5x.
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
