XML 57 R42.htm IDEA: XBRL DOCUMENT v3.22.4

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense

The current and deferred amounts of income tax expense consist of the following.

		Year Ended December 31,
		2022				2021				2020
		(Dollars in thousands)
Current provision:
Federal		$	60,763			$	44,514			$	48,328
State			35,427				27,526				28,469
			96,190				72,040				76,797
Deferred provision:
Federal			(2,496	)			8,782				(2,997	)
State			(772	)			4,305				(1,439	)
			(3,268	)			13,087				(4,436	)
Total		$	92,922			$	85,127			$	72,361

Schedule of Income Tax Asset

Income tax asset consists of the following.

		December 31,
		2022				2021
		(Dollars in thousands)
Current:
Federal		$	1,740			$	5,452
State			658				2,150
			2,398				7,602
Deferred:
Federal			117,698				16,500
State			66,588				8,501
			184,286				25,001
Total		$	186,684			$	32,603

Reconciliation of Statutory Income Tax Rate to Consolidated Effective Income Tax Rate

The components of the net deferred tax asset are as follows.

		December 31,
		2022				2021
		(Dollars in thousands)
Deferred tax assets:
Bad debt and credit loss deduction		$	29,648			$	23,228
Net operating loss carryforward			4,701				—
Deferred compensation			6,768				6,367
PCI loans			51				657
California franchise tax			—				3,873
Accrued expense			5,678				5,071
Unrealized loss on investment securities, net			159,229				423
Acquired loan discounts			4,288				5,863
Lease liability			7,541				6,472
Other, net			2,251				1,784
Gross deferred tax asset			220,155				53,738
Deferred tax liabilities:
California franchise tax			6,568				—
Depreciation			3,762				3,443
Intangibles - acquisitions			11,591				12,812
FHLB Stock			2,545				2,525
Deferred income			4,177				3,825
Right of use asset			7,226				6,132
Unrealized gain on investment securities, net			—				—
Gross deferred tax liability			35,869				28,737
Net deferred tax asset		$	184,286			$	25,001

Change in Unrecognized Tax Benefits

The annual consolidated effective tax rate for the periods presented, is reconciled to the U.S. statutory income rate as follows.

		Year Ended December 31,
		2022								2021								2020
		Amount				Percent				Amount				Percent				Amount				Percent
		(Dollars in thousands)
Federal income tax at statutory rate		$	68,953				21.0	%		$	62,506				21.0	%		$	52,399				21.0	%
State franchise taxes, net of federal benefit			27,256				8.3	%			24,600				8.3	%			20,950				8.4	%
Tax-exempt income			(3,290	)			(1.0	)%			(3,165	)			(1.1	)%			(3,191	)			(1.3	)%
Tax credits			(1,617	)			(0.5	)%			(1,640	)			(0.6	)%			(1,946	)			(0.8	)%
Other, net			1,620				0.5	%			2,826				1.0	%			4,149				1.7	%
Provision for income taxes		$	92,922				28.3	%		$	85,127				28.6	%		$	72,361				29.0	%

X

- Definition

Schedule of income tax assets liability.

+ References

No definition available.

+ Details

Name:	cvbf_ScheduleOfIncomeTaxAssetsLiabilityTableTextBlock
Namespace Prefix:	cvbf_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of unrecognized tax benefits for which a material change is reasonably possible in the next twelve months, typically including the nature of the uncertainty, the event(s) that could cause a material change, and an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made. An unrecognized tax benefit is the difference between a tax position taken in a tax return and the amounts recognized in the financial statements for which it is more likely than not, based on the technical merits of the position, that the tax position will not be sustained upon examination.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319

+ Details

Name:	us-gaap_SummaryOfPositionsForWhichSignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration