Company: CVBF
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029985
Chunk: 285

Company: CVB FINANCIAL CORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 285
---
 Savings deposits

    (2,226
    )

    40,589

    (1,843
    )

    36,520

    (712
    )

    48,368

    (5,228
    )

    42,428

    Time deposits

    2,745

    7,023

    7,660

    17,428

    (36
    )

    2,728

    (415
    )

    2,277

    FHLB advances, other   borrowings, and customer   repurchase agreements

    3,652

    5,928

    324

    9,904

    4,390

    20,806

    39,284

    64,480

    Interest expense - Other interest-bearing liabilities

    —

    —

    573

    573

    —

    —

    —

    —

    Total interest expense

    4,171

    53,540

    6,714

    64,425

    3,642

    71,902

    33,641

    109,185

    Net interest income
     
    $
    (6,581
    )
     
    $
    (25,771
    )
     
    $
    (8,291
    )
     
    $
    (40,643
    )
     
    $
    (2,892
    )
     
    $
    42,352

    $
    (56,983
    )
     
    $
    (17,523
    )

2024 Compared to 2023 

Net interest income before provision for credit losses of $447.3 million for 2024 decreased $40.6 million, or 8.33%, compared to $488.0 million for 2023. Interest income increased by $23.8 million, or 3.92% in 2024, offset by a $64.4 million increase in interest expense year-over-year. Cost of funds for 2024 increased by 49 basis points over 2023, while the earning asset yield increased by 25 basis points. Interest-earning assets decreased on average by $275.6 million, or 1.86%, from $14.83 billion for 2023 to $14.55 billion for 2024