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Condensed Financial Information of Parent Company

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information of Parent Company

25. CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

The following tables provide the parent company only condensed balance sheets, condensed statements of earnings and condensed statements of cash flows for the periods presented.

CVB FINANCIAL CORP.

CONDENSED BALANCE SHEETS

		December 31,
		2022				2021
		(Dollars in thousands)
Assets
Investment in subsidiaries		$	1,930,702			$	2,038,948
Other assets, net			46,557				67,998
Total assets		$	1,977,259			$	2,106,946
Liabilities		$	28,742			$	25,443
Stockholders’ equity			1,948,517				2,081,503
Total liabilities and stockholders’ equity		$	1,977,259			$	2,106,946

CVB FINANCIAL CORP.

CONDENSED STATEMENTS OF EARNINGS

		Year Ended December 31,
		2022				2021				2020
		(Dollars in thousands)
Equity in net earnings of subsidiaries		$	45,512			$	88,099			$	(34,936	)
Dividends from the Bank			195,000				129,000				217,000
Other expense, net			(5,087	)			(4,578	)			(4,905	)
Net earnings		$	235,425			$	212,521			$	177,159

CVB FINANCIAL CORP.

CONDENSED STATEMENTS OF CASH FLOWS

		Year Ended December 31,
		2022				2021				2020
		(Dollars in thousands)
Cash Flows from Operating Activities
Net earnings		$	235,425			$	212,521			$	177,159
Adjustments to reconcile net earnings to cash used in    operating activities:
Earnings of subsidiaries			(240,512	)			(217,099	)			(182,064	)
Tax settlement received from the Bank			—				7,659				—
Stock-based compensation			7,901				5,183				5,529
Other operating activities, net			(1,136	)			(888	)			(2,018	)
Total adjustments			(233,747	)			(205,145	)			(178,553	)
Net cash provided by (used in) operating activities			1,678				7,376				(1,394	)
Cash Flows from Investing Activities
Dividends received from the Bank			195,000				129,000				217,000
Net cash provided by investing activities			195,000				129,000				217,000
Cash Flows from Financing Activities
Repayment of junior subordinated debentures			—				(25,774	)			—
Cash dividends on common stock			(104,439	)			(97,733	)			(98,475	)
Proceeds from exercise of stock options			1,923				1,277				231
Repurchase of common stock			(46,330	)			(8,337	)			(92,772	)
Repurchase of common stock, ASR			(70,000	)			—				—
Net cash used in financing activities			(218,846	)			(130,567	)			(191,016	)
Net (decrease) increase in cash and cash equivalents			(22,168	)			5,809				24,590
Cash and cash equivalents, beginning of period			61,453				55,644				31,054
Cash and cash equivalents, end of period		$	39,285			$	61,453			$	55,644

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- References

No definition available.

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- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section S99
-Paragraph 6
-Subparagraph (SX 210.5-04(Schedule I))
-URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

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