Company: CVBF
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029985
Chunk: 151

Company: CVB FINANCIAL CORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 151
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    (500
    )

    —

    Directors’ expenses

    1,266

    1,202

    1,426

    64

    5.32
    %

    (224
    )

    (15.71
    )%

    Acquisition related expenses

    —

    —

    6,013

    —

    —

    (6,013
    )

    (100.00
    )%

    Other

    13,189

    9,798

    8,418

    3,391

    34.61
    %

    1,380

    16.39
    %

    Total noninterest expense
     
    $
    233,583

    $
    229,886

    $
    216,555

    $
    3,697

    1.61
    %
     
    $
    13,331

    6.16
    %

    Noninterest expense to average assets

    1.45
    %

    1.41
    %

    1.28
    %

    Efficiency ratio (1)

    46.55
    %

    42.00
    %

    38.98
    %

(1)Noninterest expense divided by net interest income before provision for credit losses plus noninterest income. 

Our ability to control noninterest expenses in relation to asset growth can be measured in terms of total noninterest expenses as a percentage of average assets. Noninterest expense as a percentage of average assets was 1.45% for 2024, compared to 1.41% for 2023 and 1.28% for 2022, respectively. The increase in this ratio in 2024 as compared to 2023 was due primarily to normal inflationary increases in most expense categories, partially offset by a decrease in regulatory assessment expense as 2023 included the $9.2 million FDIC Special Assessment, and also due to a $207 million decrease in average assets in 2024 as compared to 2023. The increase in this ratio for 2023 compared with 2022 reflects the impact of inflationary pressures on staff related expenses and expense growth associated with Suncrest. This ratio was also negatively impacted in 2023 by a $9.2 million expense accrual for the FDIC Special Assessment. The ratio was negatively impacted in 2022 as