<SUBMISSION>
<ACCESSION-NUMBER>0000354647-04-000002
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20040109
<FILING-DATE>20040112
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>CVB FINANCIAL CORP
<CIK>0000354647
<ASSIGNED-SIC>6022
<IRS-NUMBER>953629339
<STATE-OF-INCORPORATION>CA
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>701 N HAVEN AVE STE 350
<CITY>ONTARIO
<STATE>CA
<ZIP>91764
<PHONE>9099804030
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>701 N HAVEN AVENUE
<CITY>ONTARIO
<STATE>CA
<ZIP>91764
</MAIL-ADDRESS>
</ISSUER>
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>KRUSE RONALD O
<CIK>0001208652
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>000-10140
<FILM-NUMBER>04520772
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>701 N. HAVEN AVE
<STREET2>SUITE 350
<CITY>ONTARIO
<STATE>CA
<ZIP>91764
<PHONE>9099804030
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>701 N. HAVEN AVE
<STREET2>701 N. HAVEN AVE #350
<CITY>ONTARIO
<STATE>CA
<ZIP>91764
</MAIL-ADDRESS>
</REPORTING-OWNER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>kruse010904_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2004-01-09</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000354647</issuerCik>
        <issuerName>CVB FINANCIAL CORP</issuerName>
        <issuerTradingSymbol>CVBF</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001208652</rptOwnerCik>
            <rptOwnerName>KRUSE RONALD O</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>701 N. HAVEN AVE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 350</rptOwnerStreet2>
            <rptOwnerCity>ONTARIO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>91764</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common stock</value>
      </securityTitle>
      <transactionDate>
         <value>2004-01-09</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>M</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>31403</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>2.28</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>1064370</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>By Trust</value>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
 </nonDerivativeTable>
 <derivativeTable>
   <derivativeTransaction>
      <securityTitle>
         <value>Stock Option (right to buy)</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>2.28</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2004-01-09</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>M</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>31403</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>2.28</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>1994-02-21</value>
      </exerciseDate>
      <expirationDate>
         <value>2004-02-21</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>31403</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>78669</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
 </derivativeTable>
   <remarks>Shares will be converted to family trust</remarks>
   <ownerSignature>
      <signatureName>R. O. Kruse</signatureName>
      <signatureDate>2004-01-12</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SUBMISSION>
