Form 8-K

8-K — CVB FINANCIAL CORP

Accession: 0001193125-26-171642

Filed: 2026-04-23

Period: 2026-04-22

CIK: 0000354647

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — cvbf-20260422.htm (Primary)

EX-99.1 (cvbf-ex99_1.htm)

EX-99.2 (cvbf-ex99_2.htm)

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8-K

8-K (Primary)

Filename: cvbf-20260422.htm · Sequence: 1

8-K

false000035464700003546472026-04-222026-04-22

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 22, 2026

CVB Financial Corp.

(Exact name of Registrant as Specified in Its Charter)

California

000-10140

95-3629339

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

701 N HAVEN AVE

STE 350

ONTARIO , California

91764

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 909 980-4030

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Common Stock, No Par Value

CVBF

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On April 22, 2026, CVB Financial Corp. issued a press release setting forth the financial results for the quarter ended March 31, 2026, and information relating to our quarterly conference call and webcast. A copy of this press release is attached hereto as Exhibit 99.1 and is being furnished pursuant to this Item 2.02. The information in this report (including Exhibit 99.1) shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended (the “Securities Act”), except as expressly set forth by specific reference in such filing.

Item 7.01 Regulation FD Disclosure.

The Chief Executive Officer, President and Chief Financial Officer of CVB Financial Corp. (the “Company”) will make presentations to institutional investors at various meetings throughout the second quarter of 2026. The April 2026 slide presentation, updated to reflect first quarter 2026 financial information, is included as Exhibit 99.2 of this report. The information in this report (including Exhibits 99.2) shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other documents filed under the Securities Act, except as shall be expressly set forth by the specific reference in such filing. A copy of the slide presentation will also be available on the Company's website at www.cbbank.com under the “Investors” tab.

Item 9.01 Financial Statements and Exhibits.*

(d) Exhibits.

Exhibit No Description

99.1 Press Release issued by CVB Financial, dated April 22, 2026

99.2 CVB Financial Corp. April 2026 slide presentation

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CVB FINANCIAL CORP

Date:

April 23, 2026

By:

/s/ E. Allen Nicholson

E. Allen Nicholson

Executive Vice President and Chief Financial Officer

EX-99.1

Filename: cvbf-ex99_1.htm · Sequence: 2

EX-99.1

Exhibit 99.1

Press Release

Contact: David A. Brager

For Immediate Release

Chief Executive Officer

(909) 980-4030

CVB Financial Corp. Reports Earnings for the First Quarter 2026

First Quarter 2026

•

Net Earnings of $51.0 million, or $0.38 per share

•

Return on Average Assets of 1.33%

•

Net Interest Margin of 3.44%

Ontario, CA, April 22, 2026 - CVB Financial Corp. (NASDAQ: CVBF) (“CVBF” or the “Company”) and its subsidiary, Citizens Business Bank, National Association (“Citizens” or the “Bank”), announced earnings for the quarter ended March 31, 2026.

CVB Financial Corp. reported net income of $51.0 million for the quarter ended March 31, 2026, compared with $55.0 million for the fourth quarter of 2025 and $51.1 million for the first quarter of 2025. Diluted earnings per share were $0.38 for the first quarter, compared to $0.40 for the prior quarter and $0.36 for the same period last year.

For the first quarter of 2026, annualized return on average equity (“ROAE”) was 8.86%, annualized return on average tangible common equity (“ROATCE”) was 13.38%, and annualized return on average assets (“ROAA”) was 1.33%.

On April 17, 2026, the Company completed its acquisition of Heritage Commerce Corp (“Heritage”), including its banking subsidiary, Heritage Bank of Commerce. Effective the closing date of April 17, 2026, Heritage’s financial results are included in CVBF’s consolidated operations and will be reported in the Company’s second quarter 2026 results.

David Brager, Chief Executive Officer of the Company, commented, “Citizens Business Bank's performance in the first quarter demonstrates our continued financial strength and focus on our vision of serving the comprehensive financial needs of small to medium sized businesses and their owners. Our consistent financial performance is highlighted by our 196 consecutive quarters, or 49 years, of profitability, and our 146 consecutive quarters of paying cash dividends. I would like to thank our customers and associates for their continued commitment and loyalty, as well as welcoming Heritage’s customers, associates and shareholders to Citizens Business Bank." Brager continued, "the merger with Heritage Bank of Commerce marks the most strategic and largest acquisition by asset size in our history, bringing together two premier, relationship focused business banks and advancing our longstanding objective of expanding Citizens throughout California by entering the Bay Area. Our team is eager to build on the strong customer and community relationships that Heritage has established. ”

Highlights for the First Quarter of 2026

•

Pretax pre-provision income[1] grew by $4.0 million or 6% from Q1 of 2025

•

Net interest income grew by $7.4 million, or 6.7% from Q1 of 2025

•

Net interest margin of 3.44% increased by 13 basis points from Q1 of 2025

•

Cost of funds decreased to 0.97% from 1.04 % in Q1 of 2025

•

Provision for credit losses of $3.0 million vs. $2 million recapture of credit losses in Q1 of 2025

•

Loan growth of $280 million, or 3.3% from the end of Q1 of 2025

•

Avg. total deposit and customer repurchase agreements grew by $288 million, or 2.4% from Q1 of 2025

•

Adjusted efficiency ratio of 44.6%, excluding acquisition expense and provision for unfunded loan commitments[1]

INCOME STATEMENT HIGHLIGHTS

Three Months Ended

March 31,

2026

December 31,

2025

March 31,

2025

(Dollars in thousands, except per share amounts)

Net interest income

117,840

122,658

110,444

Provision for (recapture of) credit losses

3,000

(2,500

)

(2,000

)

Noninterest income

14,279

11,193

16,229

Noninterest expense

60,568

61,988

59,144

Income tax expense

17,549

19,319

18,425

Net earnings

51,002

55,044

51,104

Earnings per common share:

Basic

0.38

0.40

0.37

Diluted

0.38

0.40

0.36

NIM - tax equivalent (“TE”) [1]

3.44

3.49

3.31

ROAA

1.33

1.40

1.37

ROAE

8.86

9.48

9.31

ROATCE

13.38

14.41

14.51

Efficiency ratio

45.84

46.31

46.69

[1] Includes tax equivalent (TE) adjustments utilizing a federal statutory rate of 21%.

Net Interest Income

Net interest income was $117.8 million for the first quarter of 2026, representing a decrease of $4.8 million, or 3.93%, from the fourth quarter of 2025, and an increase of $7.4 million, or 6.70%, from the first quarter of 2025. Interest income decreased by $6.9 million, or 4.40%, from the fourth quarter of 2025, while interest expense decreased by $2.1 million, or 6.16%, to $31.3 million in the first quarter of 2026. The quarter-over-quarter decrease in net interest income resulted from two fewer days within the quarter, as well as a five basis point decrease in net interest margin and a $133.5 million decrease in average interest-earning assets.

The $7.4 million increase in net interest income compared to the first quarter of 2025 was primarily driven by a $6.1 million increase in interest income that resulted from $336 million in higher average interest-earning assets and a seven basis point increase in the yield on earning assets. In addition to the increase in interest income, interest expense declined from the first quarter of 2025 by $1.3 million, as a five basis point decrease in the cost of deposits and customer repurchase agreements offset the $288 million increase in average total deposits and customer repurchase agreements.

__________________________________________________________________________________________________

[1] Non-U.S. generally accepted accounting principles (“GAAP”) financial measures. Reconciliations of the GAAP to non–GAAP measures are set forth at the end of this press release.

Net Interest Margin

Our tax equivalent net interest margin was 3.44% for the first quarter of 2026, compared to 3.49% for the fourth quarter of 2025 and 3.31% for the first quarter of 2025. The five basis points decrease in our net interest margin compared to the fourth quarter of 2025 was primarily attributable to an eight basis points decrease in our average interest-earning assets yield, offset by a four basis point decrease in cost of funds. The decrease in our average interest-earning assets yield was primarily driven by a 15 basis points decrease in our average loan yield, as the loan yield in the fourth quarter of 2025 was impacted by the collection of $3.2 million of interest on a nonperforming loan that was paid off in full during the prior quarter. Our cost of funds decreased to 0.97% for the first quarter of 2026 from 1.01% in the fourth quarter of 2025, primarily due to a four basis point decrease in our cost of deposits to 0.78%, from 0.82%.

Our tax equivalent net interest margin for the first quarter of 2026 increased by 13 basis points compared to the first quarter of 2025, due to a seven basis point increase in the average interest-earning assets yield and a seven basis point decrease in cost of funds. The increase in earning assets yield was primarily due to a 10 basis point increase in average loan yields. Partially offsetting the increased loan yield was a 75 basis points decrease in the yield on funds deposited at the Federal Reserve, resulting from the FOMC lowering the target rate for the federal funds rate by 75 basis points during the last four months of 2025. Although the average yield on investment securities increased by 10 basis points from the first quarter of 2025, the fair-value hedges of our investment securities available for sale incurred a negative carry during the first quarter of 2026, resulting in a $1.2 million decrease in interest income when compared to the positive carry experienced in the year ago quarter. The expansion of the net interest margin was also impacted by a decrease in cost of funds to 0.97% in the first quarter of 2026 from 1.04% in the first quarter of 2025, which was primarily driven by an eight basis point decrease in cost of deposits.

Earning Assets and Deposits

On average, earning assets decreased by $133.5 million compared to the fourth quarter of 2025 and increased $335.7 million compared to the first quarter of 2025. The $133.5 million quarter-over-quarter decrease in interest-earning assets was primarily attributable to a $233.6 million decrease in average interest-earning deposits at the Federal Reserve, partially offset by a $107.4 million increase in average loans. The year-over-year increase in interest-earning assets was primarily attributable to a $157.1 million increase in average loans and a $118.7 million increase in average interest-earning deposits at the Federal Reserve.

The average balance on noninterest-bearing deposits decreased by $107.0 million, or 1.53%, from the fourth quarter of 2025 and by $111.9 million, or 1.60%, from the first quarter of 2025. The average balance on interest-bearing deposits and customer repurchase agreements increased by $2.2 million from the fourth quarter of 2025 and increased by $400.1 million from the first quarter of 2025. On average, noninterest-bearing deposits were 57.76% of total deposits for the first quarter of 2026, compared to 57.92% for the fourth quarter of 2025 and 59.01% for the first quarter of 2025.

SELECTED FINANCIAL HIGHLIGHTS

Three Months Ended

March 31, 2026

December 31, 2025

March 31, 2025

(Dollars in thousands)

Yield on average investment securities (TE)

2.63%

2.69%

2.63%

Yield on average loans

5.32%

5.47%

5.22%

Yield on average earning assets (TE)

4.35%

4.43%

4.28%

Cost of deposits

0.78%

0.82%

0.86%

Cost of funds

0.97%

1.01%

1.04%

Net interest margin (TE)

3.44%

3.49%

3.31%

Average Earning Assets Mix

Avg

% of Total

Avg

% of Total

Avg

% of Total

Total investment securities

4,921,215

35.43

4,946,732

35.27

4,908,718

36.21

Investment in FHLB, FRB, and other stock

55,948

0.40

33,681

0.24

18,012

0.13

Interest-earning deposits with other institutions

290,536

2.09

528,211

3.77

162,389

1.20

Loans

8,624,604

62.08

8,517,188

60.72

8,467,465

62.46

Total interest-earning assets

13,892,303

100.00

14,025,812

100.00

13,556,584

100.00

Average Deposits & Borrowings

Avg

% of Total

Avg

% of Total

Avg

% of Total

Noninterest bearing deposits

6,894,427

53.12

7,001,471

53.52

7,006,357

55.15

Interest-bearing deposits

5,041,899

38.85

5,087,709

38.89

4,866,318

38.31

Customer repurchase agreements

541,881

4.18

493,886

3.77

317,322

2.50

FHLB advances and other borrowings

500,000

3.85

500,000

3.82

513,078

4.04

Total deposits and borrowings

12,978,207

100.00

13,083,066

100.00

12,703,075

100.00

Provision for Credit Losses

There was a $3.0 million provision for credit losses in the first quarter of 2026, compared to a $2.5 million recapture of credit losses in the fourth quarter of 2025 and a $2.0 million recapture of credit losses in the first quarter of 2025. The provision for credit losses for the first quarter of 2026 was largely attributable to $3.2 million increase in specific reserves, primarily related to one commercial and industrial credit relationship.

Noninterest Income

Noninterest income totaled $14.3 million for the first quarter of 2026, an increase of $3.1 million compared with $11.2 million for the fourth quarter of 2025 and a decrease of $2.0 million from $16.2 million for the first quarter of 2025. The quarter-over-quarter increase was primarily attributable to a $2.8 million loss on sale of available-for-sale (“AFS”) investments recorded in the fourth quarter of 2025. The year-over-year decrease was primarily due to a $2.2 million gain on sale of other real estate owned (“OREO”) during the first quarter of 2025. Bank-owned life insurance (“BOLI”) income for the first quarter of 2026 increased by $1.0 million compared to the fourth quarter of 2025 and by $308,000 compared to the first quarter of 2025. Trust and investment services income decreased by $300,000, or 7.6%, from the fourth quarter of 2025 and increased by $300,000, or 9.2% , from the first quarter of 2025.

Noninterest Expense

Noninterest expense totaled $60.6 million for the first quarter of 2026, compared to $62.0 million for the fourth quarter of 2025 and $59.1 million for the first quarter of 2025. Acquisition related expenses for the Heritage merger, announced at the end of the fourth quarter of 2025, totaled $1.1 million in the first quarter of 2026, compared to $1.6 million for the fourth quarter of 2025. Excluding acquisition expense, noninterest expense decreased $1.0 million compared to the fourth quarter of 2025. This decrease was primarily driven by a $1.6 million reduction of the FDIC special assessment accrual and a $500,000 decrease in provision for unfunded loan commitments, partially offset by a $700,000 increase in marketing and promotion expense. Excluding acquisition expense, the increase in noninterest expense compared to the first quarter of 2025 was $295,000.

As a percentage of average assets, noninterest expense was 1.58% for the first quarter of 2026, 1.57% for the fourth quarter of 2025, and 1.58% for the first quarter of 2025. The efficiency ratio was 45.84% for the first quarter of 2026, compared to 46.31% for the fourth quarter of 2025 and 46.69% for the first quarter of 2025. Excluding acquisition related expenses and decrease in provision for unfunded loan commitment, the adjusted efficiency ratio[1] was 44.61% for the first quarter of 2026, compared to 44.40% for the fourth quarter of 2025 and 46.30% for the first quarter of 2025.

Income Taxes

Our effective tax rate for the quarter ended March 31, 2026 was 25.60%, compared with 25.98% for the fourth quarter of 2025, and 26.50% for the first quarter of 2025. Our estimated annual effective tax rate can vary depending upon the level of tax-advantaged income from municipal securities and BOLI, as well as tax credit investments.

BALANCE SHEET HIGHLIGHTS

Assets

Total assets were $15.51 billion at March 31, 2026, a decrease of $123.5 million, or 0.79%, compared to total assets of $15.63 billion at December 31, 2025. The decrease in assets was primarily attributable to an $116.3 million decrease in investment securities and a $55.9 million decrease in total loans, offset by a $44.9 million increase in interest-earning balances due from the Federal Reserve.

Total assets at March 31, 2026 increased by $251.0 million, or 1.65%, compared to total assets of $15.26 billion at March 31, 2025. The increase in assets was primarily driven by an increase of $279.7 million in total loans.

Investment Securities

Total investment securities were $4.84 billion at March 31, 2026, a decrease of $116.3 million, or 2.35%, from $4.95 billion at December 31, 2025, and a decrease of $57.1 million, or 1.17%, from $4.89 billion at March 31, 2025.

At March 31, 2026, investment securities held-to-maturity (“HTM”) totaled $2.25 billion, a decrease of $22.4 million, or 0.98%, from December 31, 2025, and a decrease of $111.1 million, or 4.71%, from March 31, 2025.

At March 31, 2026, investment securities available-for-sale totaled $2.59 billion, inclusive of a pre-tax net unrealized loss of $310.4 million. AFS securities decreased by $94.0 million, or 3.50% from December 31, 2025, and increased by $54.1 million, or 2.13%, from $2.54 billion at March 31, 2025. The pre-tax net unrealized loss at March 31, 2026 increased by $2.6 million from December 31, 2025 and decreased by $78.1 million from March 31, 2025, primarily due to the sale of AFS securities in the second half of 2025.

Loans

Total loans and leases, at amortized cost, of $8.64 billion at March 31, 2026 decreased by $55.9 million, or 0.64%, from $8.70 billion at December 31, 2025 and increased by $279.7 million, or 3.34%, from $8.36 billion at March 31, 2025. The decrease from December 31, 2025 was primarily due to a decrease of $114 million in dairy & livestock loans associated with the seasonal increase that occurs every calendar year end. Excluding the seasonal decline in dairy & livestock loans, loans grew by $58 million from the end of 2025. This increase was driven by increases of $56.8 million in commercial real estate loans, $21.5 million in construction loans, and $9.3 million in Small Business Administration (“SBA”) loans, which were partially offset by decreases of $21.4 million in commercial and industrial loans and $3.6 million in single-family residential (“SFR”) mortgage loans.

__________________________________________________________________________________________________

[1] Non-GAAP financial measures. Reconciliations of the GAAP to non–GAAP measures are set forth at the end of this press release.

The increase from March 31, 2025 was primarily due to increases of $140.6 million in commercial real estate loans, $62.3 million in dairy & livestock and agribusiness loans, $43.6 million in construction loans, $19.7 million in SBA loans, $10.0 million in commercial and industrial loans, and $8.7 million in SFR mortgage loans, partially offset by a decrease of $7.8 million in municipal lease finance receivables.

Asset Quality

During the first quarter of 2026, we experienced credit charge-offs of $123,000 and total recoveries of $132,000, resulting in net recoveries of $9,000, which compares to net recoveries of $325,000 in the prior quarter. The allowance for credit losses (“ACL”) totaled $80.2 million at March 31, 2026, compared to $77.2 million at December 31, 2025 and $78.3 million at March 31, 2025. At March 31, 2026, the ACL as a percentage of total loans and leases outstanding was 0.93%. This compares to 0.89% at December 31, 2025 and 0.94% at March 31, 2025.

Nonperforming loans, defined as nonaccrual loans, including modified loans on nonaccrual, plus loans 90 days past due and accruing interest, and nonperforming assets, defined as nonperforming plus OREO, are highlighted below.

Nonperforming Assets and Delinquency Trends

March 31,

2026

December 31,

2025

March 31,

2025

(Dollars in thousands)

Nonperforming loans

Commercial real estate

2,094

4,186

24,379

SBA

477

1,024

Commercial and industrial

3,573

478

173

Dairy & livestock and agribusiness

Total

6,144

4,685

25,636

% of Total loans

0.07

0.05

0.31

OREO

Commercial real estate

206

163

495

Total

206

163

495

Total nonperforming assets

6,350

4,848

26,131

% of Nonperforming assets to total assets

0.04

0.03

0.17

Past due 30-89 days (accruing)

Commercial real estate

4,715

2,887

SBA

1,553

718

Commercial and industrial

261

SFR mortgage

249

Total

6,605

3,178

718

% of Total loans

0.08

0.04

0.01

Total nonperforming, OREO,

and past due

12,955

8,026

26,849

Classified Loans

83,058

52,701

94,169

The $1.5 million increase in nonperforming loans from December 31, 2025 was primarily due to the addition of one nonperforming commercial and industrial loan of $2.9 million, four nonperforming commercial real estate loans totaling $1.3 million, offset by a $4.1 million commercial real estate nonaccrual loan payoff.

Classified loans are loans that are graded “substandard” or worse. Classified loans increased $30.4 million quarter-over-quarter, primarily driven by the downgrade of four commercial and industrial loans totaling $18.1 million, three commercial real estate loans totaling $12.9 million, and two dairy & livestock loans totaling $4.4 million. These increases are partially offset by loan paydowns and payoffs during the quarter.

Deposits & Customer Repurchase Agreements

Deposits of $11.95 billion and customer repurchase agreements of $494.3 million totaled $12.44 billion at March 31, 2026, compared to $12.56 billion at December 31, 2025 and $12.27 billion at March 31, 2025. Deposits and customer repurchase agreements decreased $123.1 million, or 0.98%, from December 31, 2025 and increased $173.4 million, or 1.41%, from March 31, 2025.

Noninterest-bearing deposits were $7.10 billion at March 31, 2026, an increase of $299.8 million, or 4.41%, compared to $6.80 billion at December 31, 2025, and a decrease of $83.8 million, or 1.17%, compared to $7.18 billion at March 31, 2025. At March 31, 2026, noninterest-bearing deposits were 59.44% of total deposits, compared to 56.33% at December 31, 2025, and 59.92% at March 31, 2025.

Borrowings

As of March 31, 2026, December 31, 2025, and March 31, 2025, total borrowings consisted of $500 million of Federal Home Loan Bank (“FHLB”) advances. The FHLB advances include $300 million, at an average cost of 4.73%, maturing in May of 2026, and $200 million, at a cost of 4.27% maturing in May of 2027.

Capital

The Company’s total equity was $2.32 billion at March 31, 2026, compared to $2.30 billion at December 31, 2025 and $2.23 billion at March 31, 2025. The increase of $26.1 million from prior year end was primarily attributable to $51.0 million in net earnings and a $2.7 million increase in other comprehensive income, partially offset by $27.2 million in cash dividends declared. We engaged in no stock repurchases during the first quarter of 2026. Our tangible book value per share was $11.42 at March 31, 2026, compared to $11.24 at December 31, 2025 and $10.45 at March 31, 2025, respectively.

Our capital ratios under the revised capital framework referred to as Basel III remain well above regulatory standards.

CVB Financial Corp. Consolidated

Minimum Required Plus

Capital Conservation Buffer

March 31,

2026

December 31,

2025

March 31,

2025

Tier 1 leverage capital ratio

4.0%

11.9%

11.6%

11.8%

Common equity Tier 1 capital ratio

7.0%

16.3%

15.9%

16.5%

Tier 1 risk-based capital ratio

8.5%

16.3%

15.9%

16.5%

Total risk-based capital ratio

10.5%

17.1%

16.7%

17.3%

Tangible common equity (“TCE”) ratio

10.5%

10.3%

10.0%

CitizensTrust

As of March 31, 2026, CitizensTrust had approximately $5.06 billion in assets under management and administration, including $3.70 billion in assets under management. Revenues were $3.7 million for the first quarter of 2026, compared to $4.0 million in the fourth quarter and $3.4 million for the first quarter of 2025. CitizensTrust provides trust, investment and brokerage related services, as well as financial, estate and business succession planning.

Corporate Overview

CVB Financial Corp. (“CVBF”) is the holding company for Citizens Business Bank, National Association. CVBF is one of the ten largest bank holding companies headquartered in California with more than $20 billion in total assets as of the closing of the mergers with Heritage Commerce Corp and its principal banking subsidiary, Heritage Bank of Commerce. Citizens Business Bank, National Association, is consistently recognized as one of the top performing banks in the nation and offers a wide array of banking, lending and investing services with more than 75 banking centers and three trust office locations serving California.

Shares of CVB Financial Corp. common stock are listed on the NASDAQ under the ticker symbol “CVBF”. For investor information on CVB Financial Corp., visit our Citizens Business Bank website at www.cbbank.com and click on the “Investors” tab.

Conference Call

Management will hold a conference call at 7:30 a.m. PDT/10:30 a.m. EDT on Thursday, April 23, 2026, to discuss the

Company’s first quarter 2026 financial results. The conference call can be accessed live by registering at:

https://register-conf.media-server.com/register/BI42ee6e6012794b7dbf964ef79723487c

The conference call will also be simultaneously webcast over the Internet; please visit our Citizens Business Bank website at www.cbbank.com and click on the “Investors” tab to access the call from the site. Please access the website 15 minutes prior to the call to download any necessary audio software. This webcast will be recorded and available for replay on the Company’s website approximately two hours after the conclusion of the conference call and will be available on the website for approximately 12 months.

Forward-Looking Statements

Certain statements set forth herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “will likely result”, “aims”, “anticipates”, “believes”, “could”, “estimates”, “expects”, “hopes”, “intends”, “may”, “plans”, “projects”, “seeks”, “should”, “will,” “strategy”, “possibility”, and variations of these words and similar expressions help to identify these forward-looking statements, which involve risks and uncertainties that could cause actual results or performance to differ materially from those projected. These forward-looking statements are based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company including, without limitation, plans, strategies, goals and statements about the Company’s outlook regarding revenue and asset growth, financial performance and profitability, capital and liquidity levels, loan and deposit levels, growth and retention, yields and returns, loan diversification and credit management, stockholder value creation, tax rates, the impact of business, economic, or political developments, the impact of monetary, fiscal and trade policies, and the impact of acquisitions we have made or may make, including our recent acquisition of Heritage Commerce Corp (“Heritage”) and its principal banking subsidiary, Heritage Bank of Commerce. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company, and there can be no assurance that future developments affecting the Company will be the same as those anticipated by management. The Company cautions readers that a number of important factors, in addition to those set forth below, could cause actual results to differ materially from those expressed in, or implied or projected by, such forward-looking statements.

General risks and uncertainties include, but are not limited to, the following: the strength of the United States economy and the strength of the local economies in which we conduct business; the effects of, and changes in, immigration, trade, tariff, monetary, and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; inflation/deflation, interest rate, market and monetary fluctuations; the effect of acquisitions we have made or may make, including, without limitation, the failure to achieve the expected revenue growth and/or expense savings from such acquisitions, and/or the failure to effectively integrate an acquisition target, key personnel and customers into our operations; the timely development of competitive new products and services, and the acceptance of these products and services by potential and existing customers; the impact of changes in financial services policies, laws, and regulations, including those concerning banking, taxes, securities, and insurance, and the application thereof by regulatory agencies; the effectiveness of our risk management framework and quantitative models; changes in the level of our nonperforming assets and charge-offs; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the U.S. Securities and Exchange Commission (“SEC”), the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters; possible credit related impairments or declines in the fair value of loans and securities held by us; possible impairment charges to goodwill, including any impairment that may result from increased volatility in our stock price; changes in consumer or business spending, borrowing, and savings habits; the effects of our lack of a diversified loan portfolio, including the risks of geographic and industry concentrations; periodic fluctuations in commercial or residential real estate prices or values; our ability to attract or retain deposits (including low cost deposits) or to access government or private lending facilities and other sources of liquidity; the possibility that we may reduce or discontinue the payment of dividends on our common stock; changes in the financial performance and/or condition of our borrowers or depositors; changes in the competitive environment among financial and bank holding companies and other financial service providers; technological changes in banking and financial services; systemic or non-systemic bank failures or crises; geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism, and/or military conflicts, which could impact business and economic conditions in the United States and abroad; catastrophic events or natural disasters, including earthquakes, drought, climate change or extreme weather events that may affect our assets, communications or computer services, customers, employees or third party vendors; public health crises and pandemics, and their effects on the economic and business environments in which we operate, including on our asset credit quality, business operations, and employees, as well as the impact on general economic and financial market conditions; cybersecurity threats and fraud and the costs of defending against them, including the costs of compliance with legislation or regulations to combat fraud and cybersecurity threats; our ability to recruit and retain key executives, board members and other employees, and our ability to comply with federal and state employment laws and regulations; ongoing or unanticipated regulatory or legal proceedings or outcomes; risks associated with our recently completed merger with Heritage, including difficulties and delays in

integrating or retaining Heritage’s business, key personnel and customers, and achieving anticipated synergies, cost savings enhanced geographic coverage and other benefits from the transaction; and our ability to manage the risks involved in the foregoing.

Additional factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company's 2025 Annual Report on Form 10-K filed with the SEC and available at the SEC’s Internet site (http://www.sec.gov).

The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements, except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company’s earnings, equity, or shareholder returns, are for illustrative purposes only, are not forecasts, and actual results may differ.

Non-GAAP Financial Measures — Certain financial information provided in this earnings release has not been prepared in accordance with GAAP and is presented on a non-GAAP basis. Investors and analysts should refer to the reconciliations included in this earnings release and should consider the Company’s non-GAAP measures in addition to, not as a substitute for or as superior to, measures prepared in accordance with GAAP. These non-GAAP measures may or may not be comparable to similarly titled measures used by other companies.

CVB FINANCIAL CORP. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(Dollars in thousands)

March 31,

2026

December 31,

2025

March 31,

2025

Assets

Cash and due from banks

138,613

107,511

187,981

Interest-earning balances due from Federal Reserve

313,773

268,878

341,108

Total cash and cash equivalents

452,386

376,389

529,089

Interest-earning balances due from depository institutions

4,937

13,064

3,451

Investment securities available-for-sale

2,589,119

2,683,070

2,535,066

Investment securities held-to-maturity

2,248,038

2,270,391

2,359,141

Total investment securities

4,837,157

4,953,461

4,894,207

Investment in FHLB, FRB, and other stock

55,948

18,012

Loans and lease finance receivables

8,643,316

8,699,193

8,363,632

Allowance for credit losses

(80,170

)

(77,161

)

(78,252

)

Net loans and lease finance receivables

8,563,146

8,622,032

8,285,380

Premises and equipment, net

26,858

26,505

26,772

Bank owned life insurance (“BOLI”)

328,457

325,299

318,301

Intangibles

4,924

5,774

8,812

Goodwill

765,822

Other assets

467,945

486,760

406,745

Total assets

15,507,580

15,631,054

15,256,591

Liabilities

Deposits:

Noninterest-bearing

7,100,507

6,800,691

7,184,267

Investment checking

497,609

509,272

533,220

Savings and money market

3,802,623

4,185,244

3,710,612

Time deposits

544,485

576,775

561,822

Total deposits

11,945,224

12,071,982

11,989,921

Customer repurchase agreements

494,257

490,601

276,163

Federal Home Loan Bank advances and other borrowings

500,000

Other liabilities

246,818

273,247

262,088

Total liabilities

13,186,299

13,335,830

13,028,172

Stockholders' Equity

Common Stock

1,221,938

1,222,365

1,280,969

Retained Earnings

1,324,318

1,300,513

1,224,750

Accumulated other comprehensive loss, net

(224,975

)

(227,654

)

(277,300

)

Total stockholders' equity

2,321,281

2,295,224

2,228,419

Total liabilities and stockholders' equity

15,507,580

15,631,054

15,256,591

CVB FINANCIAL CORP. AND SUBSIDIARIES

CONDENSED CONSOLIDATED AVERAGE BALANCE SHEETS

(Unaudited)

(Dollars in thousands)

Three Months Ended

March 31,

2026

December 31,

2025

March 31,

2025

Assets

Cash and due from banks

145,001

144,568

154,328

Interest-earning balances due from Federal Reserve

280,163

513,797

161,432

Total cash and cash equivalents

425,164

658,365

315,760

Interest-earning balances due from depository institutions

10,373

14,414

957

Investment securities available-for-sale

2,660,813

2,661,115

2,539,211

Investment securities held-to-maturity

2,260,402

2,285,617

2,369,507

Total investment securities

4,921,215

4,946,732

4,908,718

Investment in FHLB, FRB, and other stock

55,948

33,681

18,012

Loans and lease finance receivables

8,624,604

8,517,188

8,467,465

Allowance for credit losses

(77,219

)

(79,341

)

(80,113

)

Net loans and lease finance receivables

8,547,385

8,437,847

8,387,352

Premises and equipment, net

26,897

26,775

27,408

BOLI

326,031

325,389

316,643

Intangibles

5,341

6,176

9,518

Goodwill

765,822

Other assets

480,068

433,774

419,116

Total assets

15,564,244

15,648,975

15,169,306

Liabilities

Deposits:

Noninterest-bearing

6,894,427

7,001,471

7,006,357

Interest-bearing

5,041,899

5,087,709

4,866,318

Total deposits

11,936,326

12,089,180

11,872,675

Customer repurchase agreements

541,881

493,886

317,322

Federal Home Loan Bank advances and other borrowings

500,000

513,078

Other liabilities

250,364

261,824

239,283

Total liabilities

13,228,571

13,344,890

12,942,358

Stockholders' Equity

Common Stock

1,222,046

1,237,231

1,291,426

Retained Earnings

1,332,021

1,304,100

1,232,497

Accumulated other comprehensive loss, net

(218,394

)

(237,246

)

(296,975

)

Total stockholders' equity

2,335,673

2,304,085

2,226,948

Total liabilities and stockholders' equity

15,564,244

15,648,975

15,169,306

CVB FINANCIAL CORP. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

(Unaudited)

(Dollars in thousands, except per share amounts)

Three Months Ended

March 31,

2026

December 31,

2025

March 31,

2025

Interest income

Loans and leases, including fees

113,272

117,415

109,071

Investment securities:

Investment securities available-for-sale

19,400

20,062

18,734

Investment securities held-to-maturity

12,466

12,649

13,021

Total investment income

31,866

32,711

31,755

Dividends from FHLB, FRB, and other stock

1,311

539

379

Interest-earning deposits with other institutions

2,661

5,314

1,797

Total interest income

149,110

155,979

143,002

Interest expense

Deposits

23,052

25,047

25,322

Borrowings and customer repurchase agreements

7,972

8,007

6,800

Other

246

267

436

Total interest expense

31,270

33,321

32,558

Net interest income before provision for

(recapture of) credit losses

117,840

122,658

110,444

Provision for (recapture of) credit losses

3,000

(2,500

)

(2,000

)

Net interest income after provision for

(recapture of) credit losses

114,840

125,158

112,444

Noninterest income

Service charges on deposit accounts

4,817

4,734

4,908

Trust and investment services

3,724

4,031

3,411

Loss on sale of AFS Investment Securities

(2,785

)

Gain on other real estate owned (“OREO”), net

113

2,183

Other

5,738

5,100

5,727

Total noninterest income

14,279

11,193

16,229

Noninterest expense

Salaries and employee benefits

37,461

37,105

36,477

Occupancy and equipment

6,075

5,892

5,998

Professional services

2,518

2,626

2,081

Computer software expense

4,303

4,167

4,221

Marketing and promotion

2,061

1,339

1,988

Amortization of intangible assets

850

881

1,155

Provision for unfunded loan commitments

500

1,000

500

Acquisition related expenses

1,129

1,556

Other

5,671

7,422

6,724

Total noninterest expense

60,568

61,988

59,144

Earnings before income taxes

68,551

74,363

69,529

Income tax expense

17,549

19,319

18,425

Net earnings

51,002

55,044

51,104

Basic earnings per common share

0.38

0.40

0.37

Diluted earnings per common share

0.38

0.40

0.36

Cash dividends declared per common share

0.20

CVB FINANCIAL CORP. AND SUBSIDIARIES

SELECTED FINANCIAL HIGHLIGHTS

(Unaudited)

(Dollars in thousands, except per share amounts)

Three Months Ended

March 31,

2026

December 31,

2025

March 31,

2025

Interest income - tax equivalent (TE)

149,138

156,007

143,525

Interest expense

31,270

33,321

32,558

Net interest income - (TE)

117,868

122,686

110,967

Return on average assets, annualized

1.33

1.40

1.37

Return on average equity, annualized

8.86

9.48

9.31

Efficiency ratio

45.84

46.31

46.69

Adjusted efficiency ratio [1]

44.61

44.40

46.30

Noninterest expense to average assets, annualized

1.58

1.57

1.58

Yield on average loans

5.32

5.47

5.22

Yield on average earning assets (TE)

4.35

4.43

4.28

Cost of deposits

0.78

0.82

0.86

Cost of deposits and customer repurchase agreements

0.82

0.86

0.87

Cost of funds

0.97

1.01

1.04

Net interest margin (TE)

3.44

3.49

3.31

TCE ratio [1]

CVB Financial Corp. Consolidated

10.52

10.25

10.04

Citizens Business Bank, National Association

10.35

10.09

9.92

Weighted average shares outstanding

Basic

134,760,313

135,525,188

138,973,996

Diluted

134,916,024

135,920,667

139,294,401

Dividends declared

27,197

27,180

27,853

Dividend payout ratio [2]

53.32

49.38

54.50

Number of shares outstanding - (end of period)

135,791,180

135,551,799

139,089,612

Book value per share

17.09

16.93

16.02

Tangible book value per share [1]

11.42

11.24

10.45

[1] Non-GAAP financial measures. Reconciliations of the GAAP to non-GAAP measures are set forth at the end of this press release.

[2] Dividends declared on common stock divided by net earnings.

CVB FINANCIAL CORP. AND SUBSIDIARIES

SELECTED FINANCIAL HIGHLIGHTS

(Unaudited)

(Dollars in thousands)

Three Months Ended

March 31,

2026

December 31,

2025

March 31,

2025

Nonperforming assets:

Nonaccrual loans

6,144

4,685

25,636

Other real estate owned (“OREO”), net

206

163

495

Total nonperforming assets

6,350

4,848

26,131

Loan modifications to borrowers experiencing financial difficulty

22,255

16,902

11,949

Percentage of nonperforming assets to total loans outstanding and OREO

0.07

0.06

0.31

Percentage of nonperforming assets to total assets

0.04

0.03

0.17

Allowance for credit losses to nonperforming assets

1262.52

1591.60

299.46

Three Months Ended

March 31,

2026

December 31,

2025

March 31,

2025

Allowance for credit losses:

Balance at beginning of period

77,161

79,336

80,122

Charge-offs

(123

)

(106

)

(40

)

Recoveries

132

431

170

Net recoveries

325

130

Provision for (recapture of) credit losses

3,000

(2,500

)

(2,000

)

Balance at end of period

80,170

77,161

78,252

Net recoveries to average loans

0.000

0.004

0.002

CVB FINANCIAL CORP. AND SUBSIDIARIES

SELECTED FINANCIAL HIGHLIGHTS

(Unaudited)

(Dollars in thousands)

Allowance for Credit Losses by Loan Type

March 31, 2026

December 31, 2025

March 31, 2025

Allowance

For Credit

Losses

Allowance

as a % of

Total Loans

by Respective

Loan Type

Allowance

For Credit

Losses

Allowance

as a % of

Total Loans

by Respective

Loan Type

Allowance

For Credit

Losses

Allowance

as a % of

Total Loans

by Respective

Loan Type

Commercial real estate

59,302

0.89%

61,661

0.94%

65,302

1.01%

Construction

816

1.38%

593

1.57%

238

1.52%

SBA

2,821

0.97%

2,720

0.96%

2,608

0.96%

Commercial and industrial

12,565

1.32%

8,438

0.87%

6,118

0.65%

Dairy & livestock and agribusiness

3,348

1.06%

2,486

0.58%

2,824

1.12%

Municipal lease finance receivables

264

0.46%

251

0.42%

210

0.32%

SFR mortgage

457

0.16%

442

0.16%

427

0.16%

Consumer and other loans

597

1.02%

570

0.98%

525

0.94%

Total

80,170

0.93%

77,161

0.89%

78,252

0.94%

CVB FINANCIAL CORP. AND SUBSIDIARIES

SELECTED FINANCIAL HIGHLIGHTS

(Unaudited)

(Dollars in thousands, except per share amounts)

Quarterly Common Stock Price

2026

2025

2024

Quarter End

High

Low

High

Low

High

Low

March 31,

21.48

18.26

21.71

18.22

20.45

15.95

June 30,

20.15

16.01

17.91

15.71

September 30,

21.34

18.12

20.29

16.08

December 31,

20.70

17.95

24.58

17.20

Quarterly Consolidated Statements of Earnings

2026

2025

Interest income

Loans and leases, including fees

113,272

117,415

110,825

108,845

109,071

Investment securities and other

35,838

38,564

39,287

35,364

33,931

Total interest income

149,110

155,979

150,112

144,209

143,002

Interest expense

Deposits

23,052

25,047

26,096

24,829

25,322

Borrowings and customer repurchase agreements

7,972

8,007

8,109

7,401

6,800

Other

246

267

330

371

436

Total interest expense

31,270

33,321

34,535

32,601

32,558

Net interest income before provision for

(recapture of) credit losses

117,840

122,658

115,577

111,608

110,444

Provision for (recapture of) credit losses

3,000

(2,500

)

1,000

(2,000

)

Net interest income after provision for

(recapture of) credit losses

114,840

125,158

114,577

111,608

112,444

Noninterest income

14,279

11,193

13,006

14,744

16,229

Noninterest expense

60,568

61,988

58,576

57,557

59,144

Earnings before income taxes

68,551

74,363

69,007

68,795

69,529

Income taxes

17,549

19,319

16,421

18,231

18,425

Net earnings

51,002

55,044

52,586

50,564

51,104

Effective tax rate

25.60

25.98

23.80

26.50

Basic earnings per common share

0.38

0.40

0.38

0.37

Diluted earnings per common share

0.38

0.40

0.38

0.37

0.36

Cash dividends declared per common share

0.20

Cash dividends declared

27,197

27,180

27,548

27,703

27,853

CVB FINANCIAL CORP. AND SUBSIDIARIES

SELECTED FINANCIAL HIGHLIGHTS

(Unaudited)

(Dollars in thousands)

Loan Portfolio by Type

March 31,

2026

December 31,

2025

September 30,

2025

June 30,

2025

March 31,

2025

Commercial real estate

6,631,238

6,574,395

6,535,319

6,517,415

6,490,604

Construction

59,329

37,812

29,976

17,658

15,706

SBA

291,693

282,371

266,228

271,735

271,844

SBA - PPP

179

Commercial and industrial

952,260

973,631

939,174

912,427

942,301

Dairy & livestock and agribusiness

314,838

431,577

292,963

233,772

252,532

Municipal lease finance receivables

57,453

59,542

61,383

63,652

65,203

SFR mortgage

278,214

281,766

286,111

288,435

269,493

Consumer and other loans

58,282

58,069

59,701

53,322

55,770

Gross loans, at amortized cost

8,643,316

8,699,193

8,470,906

8,358,501

8,363,632

Allowance for credit losses

(80,170

)

(77,161

)

(79,336

)

(78,003

)

(78,252

)

Net loans

8,563,146

8,622,032

8,391,570

8,280,498

8,285,380

Deposit Composition by Type and Customer Repurchase Agreements

March 31,

2026

December 31,

2025

September 30,

2025

June 30,

2025

March 31,

2025

Noninterest-bearing

7,100,507

6,800,691

7,244,968

7,247,128

7,184,267

Investment checking

497,609

509,272

487,738

483,793

533,220

Savings and money market

3,802,623

4,185,244

3,809,768

3,669,912

3,710,612

Time deposits

544,485

576,775

581,765

583,990

561,822

Total deposits

11,945,224

12,071,982

12,124,239

11,984,823

11,989,921

Customer repurchase agreements

494,257

490,601

451,258

404,154

276,163

Total deposits and customer

repurchase agreements

12,439,481

12,562,583

12,575,497

12,388,977

12,266,084

CVB FINANCIAL CORP. AND SUBSIDIARIES

SELECTED FINANCIAL HIGHLIGHTS

(Unaudited)

(Dollars in thousands)

Nonperforming Assets and Delinquency Trends

March 31,

2026

December 31,

2025

September 30,

2025

June 30,

2025

March 31,

2025

Nonperforming loans

Commercial real estate

2,094

4,186

23,707

24,379

SBA

477

3,952

1,265

1,024

Commercial and industrial

3,573

478

145

265

173

Dairy & livestock and agribusiness

Total

6,144

4,685

27,804

25,969

25,636

% of Total loans

0.07

0.05

0.33

0.31

Past due 30-89 days (accruing)

Commercial real estate

4,715

2,887

SBA

1,553

3,419

718

Commercial and industrial

261

SFR mortgage

249

Total

6,605

3,178

3,419

718

% of Total loans

0.08

0.04

0.00

0.04

0.01

OREO

Commercial real estate

206

163

661

495

Total

206

163

661

495

Total nonperforming, past due,

and OREO

12,955

8,026

28,550

30,049

26,849

% of Total loans

0.15

0.09

0.34

0.36

0.32

CVB FINANCIAL CORP. AND SUBSIDIARIES

SELECTED FINANCIAL HIGHLIGHTS

(Unaudited)

Regulatory Capital Ratios

Minimum Required

CVB Financial Corp. Consolidated

Capital Ratios

Plus Capital

Conservation Buffer

March 31,

2026

December 31,

2025

March 31,

2025

Tier 1 leverage capital ratio

4.0%

11.9%

11.6%

11.8%

Common equity Tier 1 capital ratio

7.0%

16.3%

15.9%

16.5%

Tier 1 risk-based capital ratio

8.5%

16.3%

15.9%

16.5%

Total risk-based capital ratio

10.5%

17.1%

16.7%

17.3%

GAAP TO NON-GAAP RECONCILIATIONS

The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company's operational performance and to enhance investors’ overall understanding of such financial performance. However, these non-GAAP financial measures are supplemental and are not a substitute for an analysis based on GAAP measures. As other companies may use different calculations for these adjusted measures, this presentation may not be comparable to other similarly titled adjusted measures reported by other companies.

Pretax Pre-Provision Income (Non-GAAP)

Pretax pre-provision income is a Non-GAAP financial measure that represents total revenue less noninterest expense and is calculated before provision for credit losses and income tax expense. Management believes this measure provides useful information for comparing the results of operations between periods.

Three Months Ended

March 31,

2026

December 31,

2025

March 31,

2025

(Dollars in thousands)

Net Income

51,002

55,044

51,104

Add: Provision for (recapture of) credit losses

3,000

(2,500

)

(2,000

)

Add: Income tax expense

17,549

19,319

18,425

Pretax pre-provision income

71,551

71,863

67,529

Tangible Book Value and Tangible Common Equity Ratio (Non-GAAP)

The tangible book value per share and tangible common equity ratios are a Non-GAAP financial measures derived from GAAP-based amounts. The following is a reconciliation of tangible book value and tangible common equity to the Company stockholders' equity computed in accordance with GAAP, as well as a calculation of tangible book value per share and tangible common equity ratio.

March 31,

2026

December 31,

2025

March 31,

2025

(Dollars in thousands, except per share amounts)

CVB Financial Corp. and Subsidiaries

Stockholders' equity

2,321,281

2,295,224

2,228,419

Less: Goodwill

(765,822

)

(765,822

)

(765,822

)

Less: Intangible assets

(4,924

)

(5,774

)

(8,812

)

Tangible book value

1,550,535

1,523,628

1,453,785

Total assets

15,507,580

15,631,054

15,256,591

Less: Goodwill

(765,822

)

(765,822

)

(765,822

)

Less: Intangible assets

(4,924

)

(5,774

)

(8,812

)

Tangible assets

14,736,834

14,859,458

14,481,957

Common shares issued and outstanding

135,791,180

135,551,799

139,089,612

Book value per share

17.09

16.93

16.02

Tangible book value per share

11.42

11.24

10.45

Tangible common equity ratio

10.52

10.25

10.04

Citizens Business Bank, National Association

Stockholders' equity

2,295,693

2,270,968

2,212,100

Less: Goodwill

(765,822

)

(765,822

)

(765,822

)

Less: Intangible assets

(4,924

)

(5,774

)

(8,812

)

Tangible book value

1,524,947

1,499,372

1,437,466

Total assets

15,511,016

15,634,835

15,263,140

Less: Goodwill

(765,822

)

(765,822

)

(765,822

)

Less: Intangible assets

(4,924

)

(5,774

)

(8,812

)

Tangible assets

14,740,270

14,863,239

14,488,506

Common shares issued and outstanding

135,791,180

135,551,799

139,089,612

Book value per share

16.91

16.75

15.90

Tangible book value per share

11.23

11.06

10.33

Tangible common equity ratio

10.35

10.09

9.92

Return on Average Tangible Common Equity (Non-GAAP)

The return on average tangible common equity is a non-GAAP disclosure. The following is a reconciliation of net income, adjusted for tax-effected amortization of intangibles, to net income computed in accordance with GAAP; a reconciliation of average tangible common equity to the Company's average stockholders' equity computed in accordance with GAAP; as well as a calculation of return on average tangible common equity.

Three Months Ended

March 31,

2026

December 31,

2025

March 31,

2025

(Dollars in thousands)

Net Income

51,002

55,044

51,104

Add: Amortization of intangible assets

850

881

1,155

Less: Tax effect of amortization of intangible assets (1)

(247

)

(260

)

(341

)

Tangible net income

51,605

55,665

51,918

Average stockholders' equity

2,335,673

2,304,085

2,226,948

Less: Average goodwill

(765,822

)

(765,822

)

(765,822

)

Less: Average intangible assets

(5,341

)

(6,176

)

(9,518

)

Average tangible common equity

1,564,510

1,532,087

1,451,608

Return on average equity, annualized (2)

8.86

9.48

9.31

Return on average tangible common equity, annualized (2)

13.38

14.41

14.51

(1) Tax effected at respective statutory rates.

(2) Annualized where applicable.

Adjusted Efficiency Ratio (Non-GAAP)

Adjusted efficiency ratio is a non-GAAP financial measure derived from GAAP-based amounts. This figure represents the ratio of noninterest expense, less acquisition related expense and provision for unfunded loan commitments, where applicable, to the sum of net interest income before provision for credit losses and total noninterest income. Management believes that the exclusion of such items from this financial measure provides useful information to gain an understanding of the operating results of our core business.

Three Months Ended

March 31,

2026

December 31,

2025

March 31,

2025

(Dollars in thousands)

Total noninterest expense

60,568

61,988

59,144

Less: Provision for unfunded loan commitments

500

1,000

500

Less: Acquisition related expenses

1,129

1,556

Adjusted noninterest expense

58,939

59,432

58,644

Net interest income before provision for credit losses

117,840

122,658

110,444

Add: total noninterest income

14,279

11,193

16,229

Total revenue

132,119

133,851

126,673

Efficiency ratio

45.84

46.31

46.69

Adjusted efficiency ratio, excluding provision for unfunded loan commitments and acquisition related expenses

44.61

44.40

46.30

EX-99.2

Filename: cvbf-ex99_2.htm · Sequence: 3

EX-99.2

Exhibit 99.1 CVB Financial Corp. April 2026 cbbank.com

Forward Looking Statements Logo CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements that are intended to be covered by the safe harbor for such statements provided by the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of the management of CVB Financial Corp. and Citizens Business Bank (collectively, the “Company”) and are subject to significant risks and uncertainties that could cause actual results or performance to differ materially from those projected. Words such as “will likely result”, “aims”, “anticipates”, “believes”, “could”, “estimates”, “expects”, “hopes”, “intends”, “may”, “plans”, “projects”, “seeks”, “should”, “will,” “strategy”, “possibility”, and variations of these words and similar expressions help to identify these forward-looking statements, which involve risks and uncertainties that could cause actual results or performance to differ materially from those projected. These forward-looking statements are based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company including, without limitation, plans, strategies, goals and statements about the Company’s outlook regarding revenue and asset growth, financial performance and profitability, capital and liquidity levels, loan and deposit levels, growth and retention, yields and returns, loan diversification and credit management, stockholder value creation, tax rates, the impact of business, economic, or political developments, the impact of monetary, fiscal and trade policies, and the impact of acquisitions we have made or may make, including our recent acquisition of Heritage Commerce Corp (“Heritage”) and its principal banking subsidiary, Heritage Bank of Commerce. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company, and there can be no assurance that future developments affecting the Company will be the same as those anticipated by management. The Company cautions readers that a number of important factors, in addition to those set forth below, could cause actual results to differ materially from those expressed in, or implied or projected by, such forward-looking statements. General risks and uncertainties include, but are not limited to, the following: the strength of the United States economy and the strength of the local economies in which we conduct business; the effects of, and changes in, immigration, trade, tariff, monetary, and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; inflation/deflation, interest rate, market and monetary fluctuations; the effect of acquisitions we have made or may make, including, without limitation, the failure to achieve the expected revenue growth and/or expense savings from such acquisitions, and/or the failure to effectively integrate an acquisition target, key personnel and customers into our operations; the timely development of competitive new products and services, and the acceptance of these products and services by potential and existing customers; the impact of changes in financial services policies, laws, and regulations, including those concerning banking, taxes, securities, and insurance, and the application thereof by regulatory agencies; the effectiveness of our risk management framework and quantitative models; changes in the level of our nonperforming assets and charge-offs; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the U.S. Securities and Exchange Commission (“SEC”), the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters; possible credit related impairments or declines in the fair value of loans and securities held by us; possible impairment charges to goodwill, including any impairment that may result from increased volatility in our stock price; changes in consumer or business spending, borrowing, and savings habits; the effects of our lack of a diversified loan portfolio, including the risks of geographic and industry concentrations; periodic fluctuations in commercial or residential real estate prices or values; our ability to attract or retain deposits (including low cost deposits) or to access government or private lending facilities and other sources of liquidity; the possibility that we may reduce or discontinue the payment of dividends on our common stock; changes in the financial performance and/or condition of our borrowers or depositors; changes in the competitive environment among financial and bank holding companies and other financial service providers; technological changes in banking and financial services; systemic or non-systemic bank failures or crises; geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism, and/or military conflicts, which could impact business and economic conditions in the United States and abroad; catastrophic events or natural disasters, including earthquakes, drought, climate change or extreme weather events that may affect our assets, communications or computer services, customers, employees or third party vendors; public health crises and pandemics, and their effects on the economic and business environments in which we operate, including on our asset credit quality, business operations, and employees, as well as the impact on general economic and financial market conditions; cybersecurity threats and fraud and the costs of defending against them, including the costs of compliance with legislation or regulations to combat fraud and cybersecurity threats; our ability to recruit and retain key executives, board members and other employees, and our ability to comply with federal and state employment laws and regulations; ongoing or unanticipated regulatory or legal proceedings or outcomes; risks associated with our recently completed merger with Heritage, including difficulties and delays in integrating or retaining Heritage’s business, key personnel and customers, and achieving anticipated synergies, cost savings enhanced geographic coverage and other benefits from the transaction; and our ability to manage the risks involved in the foregoing. Additional factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company's 2025 Annual Report on Form 10-K filed with the SEC and available at the SEC’s Internet site (http://www.sec.gov). The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements, except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company’s earnings, equity, or shareholder returns, are for illustrative purposes only, are not forecasts, and actual results may differ. Non-GAAP Financial Measures — Certain financial information provided in this earnings release has not been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and is presented on a non-GAAP basis. Investors and analysts should refer to the reconciliations included in this earnings release and should consider the Company’s non-GAAP measures in addition to, not as a substitute for or as superior to, measures prepared in accordance with GAAP. These non-GAAP measures may or may not be comparable to similarly titled measures used by other companies. cbank.com 2

CVB Financial Corp. (CVBF) Logo Total Assets: $15.5 Billion Gross Loans: $ 8.6 Billion Total Deposits (Including Repos): $12.4 Billion Total Equity: $ 2.3 Billion Largest financial institution headquartered in the Inland Empire region of Southern California. Founded in 1974. cbank.com 3

Bank Accomplishments & Ratings Logo 196 Consecutive Quarters or 49 Years of Profitability 146 Consecutive Quarters of Cash Dividends Forbes, Best Banks in America (2016 – 2026)* Ranked #1 Forbes, Best Banks in America (2016, 2020, 2021, 2023) Ranked in S&P Global Market Intelligence’s Top 50 2025 Public Banks Bauer Financial Report Five Star Superior Rating 68 Consecutive Quarters Fitch Rating BBB+ (December 2025) Rated by S&P Global among the Top Three Large US banks by deposit franchise** * Not eligible for rankings in 2018 ** Source: S&P Global Ranking of Large US Banks by Deposit Franchise as of December 2025 CVB Financial Corp. is the holding company for Citizens Business Bank, National Association cbank.com 4

78 Business Financial Centers 1 Loan Production Office 3 CitizensTrust Locations Map Corporate Office Business Financial Centers Loan Production Office CitizensTrust cbank.com

Our Vision Logo Citizens Business Bank will strive to become the premier financial services company operating throughout the state of California, servicing the comprehensive financial needs of successful small to medium sized businesses and their owners. cbank.com 6

Target Customer Logo The best privately-held and/or family-owned businesses throughout California Annual revenues of $1-300 million Top 25% in their respective industry Full relationship banking Build long-term relationships cbank.com 7

Three Areas of Growth Logo DeNovo San Diego (2014) Oxnard (2015) Santa Barbara (2015) San Diego (2017) Stockton (2018) Modesto (2020) Temecula (2025) Same Store Sales Growth DeNovo Acquisitions Acquisitions American Security Bank (2014) County Commerce Bank (2016) Valley Business Bank (2017) Community Bank (2018) Suncrest Bank (2022) Heritage Bank of Commerce (April 17, 2026) cbank.com 8

Relationship Banking Strategy Logo Customer Marketing Relationship Manager (Bank) Credit Management Division Agribusiness Asset Based Lending Construction Lending C-PACE Lending Government Services Specialty Banking Merchant Bankcard Treasury Management Citizens Equipment Financing International CitizensTrust SBA Real Estate Banking Dairy & Livestock Citizens Home Lending Title Escrow Receivers & Fiduciaries Law Firms Property Management Deposit Services Wealth Management Trust Investment Services Loan Brokerage cbank.com

Acquisition Strategy Logo Banks: Target size: $3 billion to $10 billion in assets Financial & Strategic In-market and new geographic markets Banking Teams: In-market New markets cbank.com 10

CVBF Balance Sheet Profile March 31, 2026 Assets Secuities Loans Deposits & Funding Other 11% Cash 3% Securities 31% $15.5B Loans 55% Other 1% Muni 10% Agency 11% CMO 29% $4.8B MBS 49% D&L Agri 4% C&I 11% $8.6B CRE 77% Time 4% $12.4B Non-maturity 92% Borrowings $13.0B Total Deposits & Repos 96% Capital Ratios as of March 31, 2026 TCE Tier 1 Leverage CET1 Tier 1 RBC Total RBC 10.5% 11.9% 16.3% 16.3% 17.1% Cbbank. Com 11

Q1 2026 Financial Highlights Profitabilit ROATCE* = 13.38% ROAA = 1.33% NIM = 3.44% Efficiency Ratio = 45.84% Income Statement Q1’26 Net Income = $51 million / EPS = $0.38 Pretax Pre Provision Income* = $71.6 million, +$4 million vs. Q1’25 Net Interest Income = $117.8 million, + $7.4 million vs. Q1’25 $3 million provision for credit loss $1.1 million acquisition expense Balance Sheet Loans increased $280 million, or 3.3% from 3/31/2025 Avg. Deposits & Customer Repos increased $288 million from Q1’25 Q1 Avg. Noninterest deposits > 58% of Total Deposits Cost of deposits and customer repos = 0.82% Asset Quality NPA/TA = 0.04% (NPA = $6.1 million) Classified loans = $83 million or 0.96% of total loans ACL = $80 million / .93% of total loans Asset Quality NPA/TA = 0.04% (NPA = $6.1 million) Classified loans = $83 million or 0.96% of total loans ACL = $80 million / .93% of total loans Capital CET1 Ratio = 16.3% Total Risk-Based Ratio = 17.1% Tangible Common Equity Ratio* = 10.5% cbbank.com *See Non-GAAP Reconciliation 12

Selected Ratios Performance 2023 2024 2025 Q1’25 Q4’25 Q1’26 ROATCE* 18.48% 14.95% 14.28% 14.51% 14.41% 13.38% NIM 3.31% 3.09% 3.36% 3.31% 3.49% 3.44% Cost of Deposits 0.41% 0.88% 0.85% 0.86% 0.82% 0.78% Cost of Funds 0.83% 1.32% 1.03% 1.04% 1.01% 0.97% Efficiency Ratio 42.00% 46.55% 46.03% 46.69% 46.31% 45.84% NIE % Avg. Assets 1.41% 1.45% 1.57% 1.58% 1.54% 1.58% Credit Quality NPA % Total Assets 0.13% 0.31% 0.03% 0.17% 0.03% 0.04% Net Charge-Offs (Recoveries) to Avg. Loans 0.00% 0.04% 0.00% 0.00% 0.00% 0.00% Capital CET1 Ratio 14.6% 16.2% 15.9% 16.5% 15.9% 16.3% Total Risk-Based Capital Ratio 15.5% 17.1% 16.7% 17.3% 16.7% 17.1% * See Non-GAAP Reconciliation cbbank.com 13

Selected Highlights ($ in Thousands) Net Interest Income Q1’25 Q4’25 Q1’26 $ 110,444 Noninterest Income Noninterest Expense, excluding Acquisition Related Expenses & Provision for Unfunded Loan Commitments 16,229 $122,658 11,193 $117,840 14,279 58,644 Acquisition Related Expenses Income Statement Provision for Unfunded Loan Commitments — 59,432 1,556 58,939 1,129 Total Noninterest Expense Pretax-Pre Provision Income 500 59,144 1,000 61,988 500 60,568 67,529 (Recapture of) Provision for Credit Losses Earnings before Income Taxes (2,000) 71,863 (2,500) 71,551 3,000 69,529 Net Income Diluted earnings per common share $ 51,104 $0.36 74,363 $55,044 $0.40 68,551 $51,002 $0.38 cbbank.com 14

Selected Highlights ($ in Thousands) Average Cash & Cash Equivalents Q1’25 Q4’25 Q1’26 $ Average Loans Average Total Securities Average Balance Sheet 315,760 8,467,465 $ 658,365 8,517,188 $ 425,164 8,624,604 Average Noninterest-bearing Deposits Average Total Deposits & Customer Repurchase Agreements 4,908,718 7,006,357 4,946,732 7,001,471 4,921,215 6,894,427 12,189,997 Average Borrowings Loan-to-deposit Noninterest-bearing deposits/Total Deposits 513,078 71.32% 59.01% 12,583,066 500,000 70.45% 57.92% 12,478,207 500,000 72.26% 57.76% cbbank.com 15

Earnings Per Share 196 Consecutive Quarters or 49 Years $0.35 $0.36 $0.37 $0.36 $0.36 $0.37 $0.38 $0.40 $0.38 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Earnings per Share cbbank.com 16

Dividends – 146 Consecutive Quarters 146 Consecutive Quarters More than 35 years of cash dividends $0.20 57.38% $0.20 56.00% $0.20 54.62% $0.20 55.01% $0.20 54.50% $0.20 $0.20 $0.20 $0.20 54.79% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Dividends per Share Q2'25 52.39% Q3'25 Dividend Payout Ratio 53.32% 49.38% Q4'25 Q1'26 Dividend payout ratio calculated on per share basis.cabbank.com 17

Net Interest Income and NIM 18 ($ in Millions) $110.4 $111.6 $115.6 $122.7 $117.8 4.28% 4.28% 4.32% 4.43% 4.35% 3.31% 3.31% 3.33% 3.49% 3.44% 1.04% 1.03% 1.05% 1.01% 0.97% Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Earning Asset Yield Net Interest Margin Cost of Funds cbbank.com 18

Loans by Type CRE Owner 27.3% Commercial and industrial 11.0% C&I $0.95B Dairy & livestock and agribusiness 3.6% CRE $6.63B CRE Non-Owner 49.4% SBA 3.4% SFR mortgage 3.2% Construction 0.7% Municipal lease finance receivable 0.7% Consumer and other loans 0.7% Other $1.06B cbbank .com 19

Loan Trends – Quarterly Averages ($ in Millions) CRE $6,664 $6,655 $6,668 $6,702 $6,777 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 C&I $995 $981 $956 $993 $994 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 D&L and Agribus. $340 $247 $264 $342 $349 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Other $854 $862 $876 $885 $906 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 cabbank.com 20

Line Utilization Trends 51% 46% 48% 45% 49% 42% 48% 44% 78% 68% 80% 75% 81% 64% 78% 69% 33% 28% 29% 28% 30% 29% 32% 30% Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Total D&L C&I cbbank.com 21

Classified Loan Trend ($ in Millions) $94.17 $5.20 $7.39 $9.28 $36.80 $34.25 Q1.2025 $73.42 $8.08 $6.27 $7.28 $34.60 $16.57 Q2 2025 $78.18 $8.30 $7.55 $9.61 $31.66 $20.45 Q3 2025 $52.70 $5.64 $6.85 $12.34 $8.52 $18.75 Q4 2025 $83.06 $5.60 $11.27 $30.49 $5.14 $29.77 Q1.2026 Other* sfr mortgage sba Dairy & livestock and agribusiness Commercial and industrial CRE - Non-owner occupied CRE - Owner occupied *Other includes other loan segments that are not listed above, including Construction, Consumer and other loans. cbbank.com 22

ACL Nine Quarter Trend ($ in Millions) $0.0 $0.0 $0.1 $0.1 $0.0 $0.1 $0.0 $0.0 $3.2 $82.8 $82.8 $82.8 $80.0 $78.3 $77.9 $79.3 $77.2 $77.0 0.94% 0.95% 0.97% 0.94% 0.94% 0.93% 0.94% 0.89% 0.93% Specific Reserve Performing Loans ACL Coverage Ratio Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 * Total Balance cbbank.com 23

Total Deposits & Customer Repos March 31, 2025 Total Deposits & Customer Repos March 31, 2026 Total Deposits & Customer Repos Time 4% Non-maturity Interest-bearing 35% Repos 2% Noninterest-bearing 59% Time 4% Repos 4% Non-maturity Interest-bearing 35% Noninterest-bearing 57% cbbank.com 24

Deposit & Repo Quarterly Avg. Trends Billions $7.00 $7.05 $7.12 $7.00 $6.89 $4.30 $4.18 $4.31 $4.51 $4.48 $0.56 $0.57 $0.58 $0.58 $0.57 $0.32 $0.38 $0.46 $0.49 $0.54 $12.19 $12.18 $12.47 $12.58 $12.48 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Deposit & Repo Quarterly Average Balance Noninterest-bearing Non-maturity IB Deposits Time Deposits Customer Repos cbbank.com 25

Cost of Deposits CVBF KRX Fed Funds Rate For the Last 5 Years CVBF Ranked #1 with the Lowest Cost of Deposits of the 50 Banks in the KRX Index Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2019 2020 2021 2022 2023 2024 2025 2026 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% 0.03% 0.98% 0.78% 0.74% 0.21% 0.11% 2.34% 1.90% 4.25% 3.75% Source: As calculated by S&P Capital IQ. Unweighted Average NASDAQ Regional Banking Index KRX (50 Banks) cbbank.com 26

Cost of Deposits: Monthly Trends CVBF Cost of Deposit Detail Cost of Non-Maturity Deposits Cost of Time Deposits 2.76% 2.75% 2.73% 2.76% 2.76% 2.74% 2.75% 2.72% 2.66% 2.82% 2.84% 2.83% .74% .75% .75% .76% .77% .77% .75% .72% .71% .70% .67% .67% CVBF Cost of Deposits vs. Effective Federal Funds Rate 4.33% 4.65% 5.06% 5.12% 5.33% 5.33% 5.33% 5.33% 5.33% 5.33% 4.83% 4.58% 4.33% 4.33% 4.33% 4.33% 3.86% 3.64% 3.64% .19% .28% .41% .53% .59% .64% .72% .84% .92% 1.01% .97% .90% .87% .84% .85% .87% .85% .80% .78% .77% Apr-25 may-25 jun-25 jul’25 aug-25 sep-25 oct-25nov-25 dec-25 jan-26 feb-26 mar-26 jan-23 feb-23 mar-23 apr-23 may-23 jun-23 jul-23 aug-23 sep-23 oct-23 nov-23 dec-23 jan-24 feb-24 mar-24 apr-24 may-24 jun-24 jul-24 aug-24 sep-24 oct-24 nov-24 dec-24 jan-25 feb-25 mar-25 apr-25 may-25 jun-25 jul-25 aug-25 sep-25 oct-25nov-25 dec-25 jan-26 feb-26 mar-26 Total Cost of Deposits effr cbbank.com 27

Cvb financial corp. Acquisition of Heritage Bank of Commerce cbbank.com 28

Acquisition of Heritage Bank of Commerce Structure 100% stock with fixed exchange ratio of 0.6500x CVBF shares for each HTBK share GovernanceTwo directors from Heritage Commerce joined CVB’s board of directors Clay Jones, President and CEO of Heritage Commerce, appointed as President of combined bank and holding company Consideration* $840 million Merger Announcement December 17, 2025 Regulatory Approval April 1, 2026 Core System Conversion Est. June 2026 Shareholders Approval March 26, 2026 Legal Close Date April 17, 2026 cbbank.com 29

California’s Top Performing Business Bank Industry-Leading Pro Forma Performance Metrics¹ Attractive Financial Returns Profitability 1.50% 2027E ROAA 16.8% 2027E ROATCE Capital 14.6% CET1 15.8%Total Capital Profitability & Returns 13.2% 2027E EPS Accretion ~20%Internal Rate of Return TBVPS Dilution | Earnback Excluding Rate Marks Accretive Including Rate Marks (7.7%) | 2.5 years Source: FactSet; S&P Global Market Intelligence; Note: Financial data as of September 30, 2025; Market data as of December 16, 2025 ¹ Reflects financial pro forma estimates at announcement and does not reflect purchase accounting adjustments cbbank.com 30

Proforma Portfolio Composition Loan Composition CVB Heritage Commerce Pro forma Dairy & Agri. 4% SFR Mortgage 3% Construction 1% Other 4% C&I 11% Construction 3% Other 4% SFR Mortgage(Sale) 12% Dairy & Agri. 0% C&I 14% $3.6bn $8.6bn $11.9bn¹ Construction 1% SFR Mortgage 3% Dairy & Agri. 3% C&I 12% Other 5% CRE 77% CRE 67% CRE 76% Yield on Loans: 5.32% Yield on Loans: 5.60% Yield on Loans: 5.47% De posit Composition Time 5% Savings & MMDA 32% Interest-bearing 4% Non-interest bearing Cost of Deposits: 0.78% Loan / Deposit: 72%59% $11.9bn Savings & MMDA 27% Time 5% $4.8bn Non-interest bearing 27% Interest-bearing 41% $4.8bn Cost of Deposits: 1.18% Loan / Deposit: 75% Savings & MMDA 30% Time 5% 50% Interest- bearing 15% $16.7bn¹ Non-interest bearing 50% Cost of Deposits: 0.89% Loan / Deposit: 71% Cbbank.com 31 Pro forma balances as of March 31, 2026 excluding purchase accounting adjustments; ¹ Excluding purchased SFR loans associated with potential post closing sale

CVB Financial Corp Appendix & Non-GAAP Reconciliation Cbbank.com

Commercial Real Estate Loans Collateral Type Owner/Non-Owner Occupied Farmland 7% Medical 5% Other RE Rental and Leasing 3% Other 8% Multi- Family 13% Industrial 35% Retail 14% Office 15% Non- Owner 64% Owner 36% 33 cbbank.com

Net Charge-Offs / Average Loans (%) CVBF KRX 0.05% 0.00% 0.00% 0.02% 0.03% 0.05% 0.05% .04% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.06% 0.06% 0.08% 0.06% 0.05% 0.05% 0.06% 4Q'20 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 cbbank.com 34 * Source: S&P Capital IQ. Unweighted Average NASDAQ Regional Banking Index KRX

Classified Loans / Total Loans (%) CVBF KRX 1.1% 1.4% 0.7% .0% .9% 0.7% 0.9% 1.2% 1.2% 1.4% 1.5% 1.1% 1.1% 0.9% 0.9% 0.6% 1.0% 1.8% 1.5% 1.4% 2.1% 1.6% 1.2% 1.6% 1.8% 2.0% 2.3% 2.0% 2.4% 2.4% 2.4% 2.3% 4Q'17 4Q'18 4Q'19 4Q'20 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 ccbank.com 35 * Source: S&P Capital IQ. Unweighted Average NASDAQ Regional Banking Index KRX

CRE by Collateral ($ in Millions) Collateral type balance % of qwer occupied LTV at origination Avg. Size Classified Classified (non qwner) Classified (owner) Industrial $ 2,332 47% 49% $ 1.74 $ 25.57 $ 0.00 $ 25.57 Office 1,005 29% 55%1.66 4.43 2.64 1.79 Retail 905 10%46% 1.74 2.50 2.50 0.00 Multi-Family 858 0% 48% 1.57 0.00 0.000.00 Other 551 55% 46% 1.60 0.00 0.00 0.00 Farmland 429 98% 45% 1.51 2.41 0.00 2.41 Medical 349 31% 56% 1.62 0.00 0.00 0.00 Other RE Rental & Leasing 202 21% 49% 2.17 0.00 0.00 0.00 Total $ 6,631 36% 49% $ 1.68 $ 34.91 $ 5.14 $ 29.77 cbbank.com 36

CRE by Collateral and Origination Balance Distribution by Origination Year ($ in Millions) Average OLTV By Origination Year cbbank.com 37 Collateral Type Balance 2026 2025 2024 2023 2022 2021 or earlier 2026 2025 2024 2023 2022 2021 or earlier Industrial $ 2,332 4% 10% 5% 8% 18% 55% 45% 44% 43% 43% 44% 52% Office 1,005 2% 8% 4% 3% 24% 59% 51% 49% 53% 49% 54% 56% Retail 905 4% 12% 1% 5% 21% 57% 46% 41% 36% 39% 43% 49% Multi-Family 858 4% 8% 4% 8% 19% 57% 52% 43% 36% 45% 44% 51% Other 551 2% 10% 5% 7% 12% 64% 38% 38% 43% 45% 46% 47% Farmland 429 4% 9% 7% 6% 14% 60% 51% 34% 34% 42% 47% 48% Medical 349 8% 16% 6% 2% 8% 60% 57% 50% 47% 45% 52% 60% Other RE Rental & Leasing 202 2% 10% 3% 16% 17% 52% 65% 41% 65% 50% 51% 49% Total $ 6,631 4% 10% 5% 6% 18% 57% 48% 43% 42% 44% 46% 52%

CRE by Collateral and Loan Size ($ in Millions) Loan Amount Industrial Office Retail Multi-Family Other Farmland Medical Other RE Rental and Leasing Total Greater than $20M $ 44 $ 22 $ 0 $ 0 $ 0 $ 22 $ 22 $ 0 $ 110 $10M to $20M 134 94 65 97 10 52 24 14 490 $5M to $10M 509 245 157 122 136 79 60 59 1,367 $1M to $5M 1,360 510 554 491 332 209 198 109 3,763 Less than $1M 285 134 129 148 73 67 45 20 901 Total $ 2,332 $ 1,005 $ 905 $ 858 $ 551 $ 429 $ 349 $ 202 $ 6,631 38 cbbank.com

Loans – Maturity & Repricing ($ in Millions) Balance Distribution by Maturity or Reset as of 03/31/2026 Variable Fixed / Adjustable Loan Type ≤ 1 Year ≤ 1 Year 1-3 Years 3-5 Years 5-10 Years > 10 Years Grand Total Commercial real estate $ 855 $ 400 $ 1,311 $ 1,693 $ 2,078 $ 294 $ 6,631 Commercial and industrial 425 44 163 164 138 19 952 Dairy & livestock and agribusiness 313 1 0 1 0 0 315 SBA 56 4 25 69 135 2 292 SFR mortgage 44 2 68 78 45 40 278 Other 93 13 9 4 12 45 175 Total Loans and Leases $ 1,786 $ 464 $ 1,576 $ 2,009 $ 2,408 $ 400 $ 8,643 % of Total 21% 5% 18% 23% 28% 5% 100% z Weighted Avg. Coupon 6.25% 4.62% 4.98% 5.35% 4.45% 4.41% 5.14% Note: Weighted average coupon excludes loan fees and accretions. cbbank.com 39

C&I by Industry Industry Balance ($ in Millions) % of C&I Total Classified ($ in Millions) Real Estate Rental and Leasing $ 213 23% $ 2.62 Manufacturing 134 14% 10.19 Wholesale Trade 82 9% 6.54 Construction 79 8% 0.00 Arts, Entertainment, and Recreation 60 6% 0.00 Transportation and Warehousing 58 6% 0.72 Professional, Scientific, and Technical Services 41 4% 0.00 Health Care and Social Assistance 39 4% 0.00 Management of Companies and Enterprises 37 4% 0.00 Other 209 22% 10.42 Total $ 952 100% $ 30.49 Manufacturing: 14% Real Estate Rental and Leasing: 23% Other*: 22% Wholesale Trade: 9% Construction: 8% Arts, Entertainment, and Recreation: 6% Transportation and Warehousing: 6% Professional, Scientific, and Technical Services: 4% Health Care and Social Assistance: 4% Management of Companies and Enterprises: 4% cbbank.com 40

Diverse Deposit Base Consumer 21% Other Industries 8% Agriculture, Forestry, Fishing and Hunting 2% Retail Trade 2% Educational Services 3% Wholesale Trade 3% Health Care and Social Assistance 4% Other Services (except Public Administration) 4% Public Administration 4% Escrow and Title 5% Professional, Scientific, and Technical Services 5% Other Real Estate Rental and Leasing 6% Property Management 6% Manufacturing 7% Construction 7% Finance and Insurance 14% *Other Industries include various industries that represent less than 2%. Cbbank.com 41

Business vs Consumer Deposits Q1 2026 Non-Analyzed Business Accounts 40% Analyzed Business Accounts 38% Consumer 22% Cbbank.com 42

Deposit Relationship Tenure Q1 2026 3 to 10 Years 27% Less than 3 Years 25% Over 10 Years 48% ~75% of our customer deposit relationships have banked with CBB for 3 years or more Cbbank.com 43

CET1 Ratio Trend (%) CVBF KRX CB Acquisition ASR / Suncrest Acquisition 13.0% 14.8% 14.8% 14.9% 13.6% 14.7% 15.0% 15.3% 15.8% 16.2% 16.5% 16.5% 16.3% 15.9% 16.3% 12.0% 12.1% 12.5% 12.5% 11.8% 12.2% 12.2% 12.3% 12.6% 12.8% 12.8% 12.7% 12.8% 12.8% 4Q'18 4Q'19 4Q'20 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 * Source: S&P Capital IQ. Unweighted Average NASDAQ Regional Banking Index KRX Cbbank.com 44

TCE Ratio Trend (%) CVBF KRX CB Acquisition ASR / Suncrest Acquisition 10.5% 12.2% 9.6% 9.2% 7.4% 8.5% 8.3% 8.7% 9.7% 9.8% 10.0% 10.0% 10.1% 10.3% 10.5% 9.3% 9.7% 9.0% 8.6% 7.4% 8.1% 8.1% 8.2% 8.6% 8.6% 8.8% 8.8% 9.1% 9.2% 4Q'18 4Q'19 4Q'20 4Q'21 4Q'22 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 * Source: S&P Capital IQ. Unweighted Average NASDAQ Regional Banking Index KRX Cbbank.com 45

Economic Forecast – GDP Real GDP Growth 3.50 3.00 2.50 2.00 1.50 1.00 0.50 – 2026Q1 2026Q2 2026Q3 2026Q4 2027Q1 2027Q2 2027Q3 2027Q4 2028Q1 2028Q2 2028Q3 2028Q4 2029Q1 Q4 2025 Forecast Q1 2026 Forecast Cbbank.com 46

Economic Forecast – Unemployment Unemployment Rate 6.00 5.50 5.00 4.50 4.00 2026Q1 2026Q2 2026Q3 2026Q4 2027Q1 2027Q2 2027Q3 2027Q4 2028Q1 2028Q2 2028Q3 2028Q4 2029Q1 Q4 2025 Forecast Q1 2026 Forecast Cbbank.com 47

Economic Forecast – CRE Price CRE Price Index Growth 8.00 6.00 4.00 2.00 (2.00) (4.00) (6.00) (8.00) 2026Q1 2026Q2 2026Q3 2026Q4 2027Q1 2027Q2 2027Q3 2027Q4 2028Q1 2028Q2 2028Q3 2028Q4 2029Q1 Q4 2025 Forecast Q1 2026 Forecast Cbbank.com 48

Reconciliation of Return on Average Tangible Common Equity (Non-GAAP) 49 The return on average tangible common equity is a non-GAAP disclosure. We use certain non-GAAP financial measures to provide supplemental information regarding our performance. We believe that presenting the return on average tangible common equity provides additional clarity to the users of our financial statements. For the Year Ended December 31, 2022 2023 2024 2025 Three Months Ended March 31, 2025 December 31, 2025 March 31,2026 Net Income 235,425 $ 221,435 $ 200,716 $ 209,298 $ 51,104 $ 55,044 $ 51,002 $ Add: Amortization of intangible assets 7,566 6,452 5,324 4,193 1,155 881 850 Less: Tax effect of amortization of intangible assets (1) (2,237) (1,907) (1,574) (1,240) (341) (260) (247) Tangible net income 240,754 $ 225,980 $ 204,466 $ 212,251 $ 51,918 $ 55,665 $ 51,605 $ Average stockholders' equity 2,066,463 $ 2,006,882 $ 2,145,665 $ 2,260,275 $ 2,226,948 $ 2,304,085 $ 2,335,673 $ Less: Average goodwill (764,143) (765,822) (765,822) (765,822) (765,822) (765,822) (765,822) Less: Average intangible assets (25,376) (18,434) (12,571) (7,748) (9,518) (6,176) (5,341) Average tangible common equity 1,276,944 $ 1,222,626 $ 1,367,272 $ 1,486,705 $ 1,451,608 $ 1,532,087 $ 1,564,510 $ Return on average equity, annualized (2) 11.39% 11.03% 9.35% 9.26% 9.31% 9.48% 8.86% Return on average tangible common equity, annualized (2) 18.85% 18.48% 14.95% 14.28% 14.51% 14.41% 13.38% (1) Tax effected at respective statutory rates. (2) Annualized where applicable. Cbbank.com 49

Reconciliation of Pretax Pre-Provision Income and Tangible Common Equity Ratio (Non-GAAP) Pretax pre-provision income is a Non-GAAP financial measure that represents total revenue less noninterest expense and is calculated before provision for credit losses and income tax expense. For the Year Ended December 31, Three Months Ended March 31, December 31, March 31, 2022 2023 2024 2025 2025 2025 2026 Net Income 235,425 $ 221,435 $ 200,716 $ 209,298 $ 51,104 $ 55,044 $ 51,002 $ Add: Provision for (recapture of) credit losses 10,600 2,000 (3,000) (3,500) (2,000) (2,500) 3,000Add: Income tax expense 92,922 93,999 70,522 72,395 18,425 19,319 17,549Pretax pre-provision income 338,947 $ 317,434 $ 268,238 $ 278,193 $ 67,529 $ 71,863 $ 71,551 The tangible common equity ratios are a Non-GAAP financial measures derived from GAAP-based amounts. The following is a reconciliation of tangible book value and tangible common equity in accordance with GAAP, as well as the calculation for tangible common equity ratio. For the Year Ended December 31, Three Months Ended March 31, December 31, March 31, 2022 2023 2024 2025 2025 2025 2026 Stockholders' equity 1,948,517 $ 2,077,972 $ 2,186,316 $ 2,295,224 $ 2,228,419 $ 2,295,224 $ 2,321,281 $ Less: Goodwill (765,822) (765,822) (765,822) (765,822) (765,822) (765,822) (765,822) Less: Intangible assets (21,742) (15,291) (9,967) (5,774) (8,812) (5,774) (4,924) Tangible book value 1,160,953 $ 1,296,859 $ 1,410,527 $ 1,523,628 $ 1,453,785 $ 1,523,628 $ 1,550,535 $ Total assets 16,476,540 $ 16,020,993 $ 15,153,655 $ 15,631,054 $ 15,256,591 $ 15,631,054 $ 15,507,580 $ Less: Goodwill (765,822) (765,822) (765,822) (765,822) (765,822) (765,822) (765,822) Less: Intangible assets (21,742) (15,291) (9,967) (5,774) (8,812) (5,774) (4,924) Tangible assets 15,688,976 $ 15,239,880 $ 14,377,866 $ 14,859,458 $ 14,481,957 $ 14,859,458 $ 14,736,834 $ Tangible common equity ratio 7.40% 8.51% 9.81% 10.25% 10.04% 10.25% 10.52% cbbank.com 50

CVB Financial Corp. Copy of presentation at www.cbbank.com Cbbank.com 50

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Address Line 1 such as Attn, Building Name, Street Name

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Address Line 2 such as Street or Suite number

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Name of the City or Town

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Code for the postal or zip code

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Name of the state or province.

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- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Indicate if registrant meets the emerging growth company criteria.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

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No definition available.

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Two-character EDGAR code representing the state or country of incorporation.

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Former Legal or Registered Name of an entity

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- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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-Publisher SEC

-Name Exchange Act

-Number 240

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-Subsection b-2

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Local phone number for entity.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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Title of a 12(b) registered security.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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- Definition

Name of the Exchange on which a security is registered.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

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- Definition

Trading symbol of an instrument as listed on an exchange.

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No definition available.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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