CVB Financial Q2 net income falls to $48.3 million, EPS $0.29, as Heritage deal closes
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.
Key points
- 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.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:01 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 23, 2026.
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.