Company: CVBF
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029985
Chunk: 302

Company: CVB FINANCIAL CORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 302
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90% of the securities in the total investment portfolio, at December 31, 2024, are issued by the U.S. government or U.S. government-sponsored enterprises, with the implied guarantee of payment of principal and interest. The remaining securities are predominately AA or better general-obligation municipal bonds. As of December 31, 2024, approximately $27.1 million in U.S. government agency bonds are callable. The Agency CMO/REMIC are backed by agency-pooled collateral. Municipal bonds, which represented approximately 10% of the total investment portfolio, are predominately AA or higher rated securities. 

53

Municipal securities held by the Company are issued by various states and their various local municipalities. The following tables present municipal securities by the top holdings by state as of the dates presented. 

    December 31, 2024

    AmortizedCost

    Percent ofTotal

    Fair Value

    Percent ofTotal

    (Dollars in thousands)

    Municipal Securities available-for-sale:

    Minnesota
     
    $
    7,816

    35.9
    %
     
    $
    7,234

    35.6
    %

    Connecticut

    5,602

    25.8
    %

    5,369

    26.3
    %

    Massachusetts

    3,694

    17.0
    %

    3,385

    16.6
    %

    Maine

    1,490

    6.8
    %

    1,350

    6.6
    %

    Wisconsin

    1,166

    5.4
    %

    1,114

    5.5
    %

    Iowa

    1,115

    5.1
    %

    1,025

    5.0
    %

    California

    872

    4.0
    %

    900

    4.4
    %

    Total
     
    $
    21,755

    100.0
    %
     
    $
    20,377

    100.0
    %

    Municipal Securities held-to-maturity:

    Minnesota
     
    $
    41,069

    9.0
    %
     
    $
    38,359