Q1 2026 CVB Financial Corp Earnings Call Transcript
Key Points
- CVB Financial Corp (CVBF) reported net earnings of $51 million or $0.38 per share for the first quarter of 2026, marking its 196th consecutive quarter of profitability.
- The company declared a $0.20 per share dividend for the first quarter of 2026, continuing its 146th consecutive quarter of paying a cash dividend.
- Net interest margin expanded by 13 basis points over the prior year quarter to 3.44%, driven by increased earning asset yields and decreased cost of funds.
- Average loans grew by $157 million or approximately 2% from the first quarter of 2025, with significant growth in commercial real estate and agribusiness loans.
- The merger with Heritage Bank of Commerce is expected to provide significant opportunities for growth and expansion in the Bay Area, enhancing CVBF's market presence.
- Net earnings of $51 million for the first quarter of 2026 were lower compared to $55 million in the fourth quarter of 2025.
- Total loans declined by $56 million from the end of 2025 due to seasonal declines in dairy and livestock and agribusiness loans.
- Noninterest-bearing deposits declined on average by $112 million compared to the first quarter of 2025.
- Total nonperforming loans increased by $1.5 million to $6.1 million at March 31, 2026, primarily due to the downgrade of a $2.9 million C&I loan.
- The competitive landscape remains intense, particularly in loan pricing, which could impact future growth and profitability.
Good morning, ladies and gentlemen, and welcome to the first quarter of 2026 earnings conference call for CVB Financial Corporation and its subsidiary, Citizens Business Bank. My name is Sherry, and I'm your operator for today. (Operator Instructions) Please note that this call is being recorded.
I would now like to turn the presentation over to your host for today's call, Allen Nicholson, Executive Vice President and Chief Financial Officer. You may proceed.
Thank you, Sherry, and good morning, everyone. Thank you for joining us today to review our financial results for the first quarter of 2026. Joining me this morning is our Chief Executive Officer, Dave Brager; and our President, Clay Jones. Our comments today will refer to the financial information that was included in the earnings announcement released yesterday. To obtain a copy, please visit our website at
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