Company: CVBF
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029985
Chunk: 147

Company: CVB FINANCIAL CORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 147
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    )

    (66.61
    )%

    632

    —

    Loss on sale of AFS investment securities

    (28,317
    )

    —

    —

    (28,317
    )

    —

    —

    —

    Gain on sale leaseback transactions

    25,900

    —

    —

    25,900

    —

    —

    —

    Gain on sale of building, net

    —

    —

    2,717

    —

    —

    (2,717
    )

    (100.00
    )%

    Gain on sale of other investments

    —

    2,575

    —

    (2,575
    )

    (100.00
    )%

    2,575

    —

    Other

    8,509

    8,970

    7,546

    (461
    )

    (5.14
    )%

    1,424

    18.87
    %

    Total noninterest income
     
    $
    54,474

    $
    59,330

    $
    49,989

    $
    (4,856
    )

    (8.18
    )%
     
    $
    9,341

    18.69
    %

2024 Compared to 2023 

The $4.9 million decrease in noninterest income included $28.3 million in losses from the sale of AFS securities partially offset by gains of $25.9 million from the sale and leaseback of four properties in 2024, while 2023 included a $2.6 million gain from an equity fund distribution related to a CRA investment. Service charges on deposit accounts increased by $0.2 million, or 0.75% from the year ended December 31, 2023. Trust management fees increased by $1.2 million, or 9.34% compared to 2023. Income from Bank-Owned Life Insurance (“BOLI”) decreased by $0.3 million, or 2.60% from the prior year.

Trust and Investment Services represents our CitizensTrust group. The CitizensTrust group is made up of wealth management and investment services. They provide a variety of services, which include asset management, financial planning, estate planning, retirement planning, private and corporate trustee services, and probate services.  Investment Services provides self