Condensed Financial Information of Parent Company

12 Months Ended

Dec. 31, 2013

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Parent Company

24. CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

The parent company only condensed balance sheets as of December 31, 2013 and 2012 and the related condensed statements of earnings and condensed statements of cash flows for each of the three years ended December 31, 2013, 2012, and 2011 are presented below:

CVB FINANCIAL CORP.

CONDENSED BALANCE SHEETS


	As of December 31,
	2013		2012
	(Dollars in thousands)
Assets
Investment in subsidiaries	$	789,448	$	810,891
Other assets, net		19,120		19,745

Total assets	$	808,568	$	830,636

Liabilities	$	36,681	$	67,666
Stockholders’ equity		771,887		762,970

Total liabilities and stockholders’ equity	$	808,568	$	830,636

CVB FINANCIAL CORP.

CONDENSED STATEMENTS OF EARNINGS


	For the Year Ended December 31,
	2013			2012			2011
	(Dollars in thousands)
Excess in net earnings of subsidiaries	$	33,149		$	(1,261	)	$	20,750
Dividends from the Bank		63,000			82,300			68,000
Other expense, net		(541	)		(3,759	)		(7,017	)

Net earnings	$	95,608		$	77,280		$	81,733

CVB FINANCIAL CORP.

CONDENSED STATEMENTS OF CASH FLOWS


	For the Year Ended December 31,
	2013			2012			2011
	(Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$	95,608		$	77,280		$	81,733

Adjustments to reconcile net earnings to cash used in operating activities:
Earnings of subsidiaries		(96,149	)		(81,039	)		(88,750	)
Tax settlement received from the Bank		1,903			5,240			—
Stock-based compensation		1,926			2,039			2,214
Other operating activities, net		241			(1,717	)		(8,105	)

Total adjustments		(92,079	)		(75,477	)		(94,641	)

Net cash provided by (used in) operating activities		3,529			1,803			(12,908	)

CASH FLOWS FROM INVESTING ACTIVITIES:
Dividends received from the Bank		63,000			82,300			68,000

Net cash provided by investing activities		63,000			82,300			68,000

CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of junior subordinated debentures		(41,238	)		(48,043	)		—
Cash dividends on common stock		(29,939	)		(44,552	)		(35,805	)
Proceeds from exercise of stock options		4,517			2,557			59
Tax benefit from exercise of stock options		475			194			1
Repurchase of common stock		(559	)		(54	)		(12,527	)

Net cash used in financing activities		(66,744	)		(89,898	)		(48,272	)

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(215	)		(5,795	)		6,820
CASH AND CASH EQUIVALENTS, beginning of year		15,259			21,054			14,234

CASH AND CASH EQUIVALENTS, end of year	$	15,044		$	15,259		$	21,054

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

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