Condensed Financial Information of Parent Company

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information of Parent Company

23. 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,
	2024		2023
	(Dollars in thousands)
Assets
Investment in subsidiaries	$	2,162,877	$	2,061,860
Other assets, net		66,812		60,177
Total assets	$	2,229,689	$	2,122,037
Liabilities	$	31,414	$	31,376
Stockholders’ equity		2,198,275		2,090,661
Total liabilities and stockholders’ equity	$	2,229,689	$	2,122,037

CVB FINANCIAL CORP.

CONDENSED STATEMENTS OF EARNINGS


	Year Ended December 31,
	2024			2023		2022
	(Dollars in thousands)
Equity in undistributed earnings of subsidiaries	$	89,511		$	99,932	$	45,512
Dividends from the Bank		117,000			127,000		195,000
Other expense, net		(6,525	)		7,192		(5,087	)
Net earnings	$	199,986		$	234,124	$	235,425

CVB FINANCIAL CORP.

CONDENSED STATEMENTS OF CASH FLOWS


	Year Ended December 31,
	2024			2023			2022
	(Dollars in thousands)
Cash Flows from Operating Activities
Net earnings	$	199,986		$	234,124		$	235,425
Adjustments to reconcile net earnings to cash used in operating activities:
Earnings of subsidiaries		(206,511	)		(226,932	)		(240,512	)
Tax settlement received from the Bank		425			2,265			—
Stock-based compensation		10,234			9,439			7,901
Other operating activities, net		(1,367	)		(1,797	)		(1,136	)
Total adjustments		(197,219	)		(217,025	)		(233,747	)
Net cash provided by operating activities		2,767			17,099			1,678
Cash Flows from Investing Activities
Dividends received from the Bank		117,000			127,000			195,000
Net cash provided by investing activities		117,000			127,000			195,000
Cash Flows from Financing Activities
Repayment of junior subordinated debentures		—			—			—
Cash dividends on common stock		(111,830	)		(111,686	)		(104,439	)
Proceeds from exercise of stock options		565			210			1,923
Repurchase of common stock		(2,817	)		(21,216	)		(46,330	)
Repurchase of common stock, ASR		—			—			(70,000	)
Net cash used in financing activities		(114,082	)		(132,692	)		(218,846	)
Net increase (decrease) in cash and cash equivalents		5,685			11,407			(22,168	)
Cash and cash equivalents, beginning of period		50,692			39,285			61,453
Cash and cash equivalents, end of period	$	56,377		$	50,692		$	39,285