Company: CVBF
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029985
Chunk: 190

Company: CVB FINANCIAL CORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 190
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 by not reinvesting the cashflows generated by our investments during 2024, as well as sales of securities exceeding purchases during the year. Our total investment portfolio declined by $499.0 million from December 31, 2023 to $4.92 billion as of December 31, 2024. The decrease was primarily due to a $414.0 million decline in AFS securities. AFS securities totaled $2.54 billion at the end of the fourth quarter, inclusive of a pre-tax net unrealized loss of $447.7 million. The pre-tax unrealized loss declined by $2.1 million from December 31, 2023.

CVB is a holding company separate and apart from the Bank that must provide for its own liquidity and must service its own obligations. Substantially all of CVB’s revenues are obtained from dividends declared and paid by the Bank to CVB. There are statutory and regulatory provisions that could limit the ability of the Bank to pay dividends to CVB. In addition, our regulators could limit the ability of the Bank or CVB to pay dividends or make other distributions.

74

Below is a summary of our average cash position and statement of cash flows for the years ended December 31, 2024 and 2023. For further details, see our “Consolidated Statements of Cash Flows” under Part IV consolidated financial statements of this report. 

Consolidated Summary of Cash Flows 

    Year Ended December 31,

    2024

    2023

    (Dollars in thousands)

    Average cash and cash equivalents
     
    $
    870,326

    $
    495,146

    Percentage of total average assets

    5.39
    %

    3.03
    %

    Net cash provided by operating activities
     
    $
    249,765

    $
    295,632

    Net cash provided by investing activities

    852,746

    536,276

    Net cash (used in) financing activities

    (1,179,098
    )

    (754,084
    )

    Net (decrease) increase in cash and cash equivalents
     
    $
    (76,587
    )
     
    $
    77,824

Average cash and cash equivalents increased by $375.2 million, or 75.77%, to $870.3 million for the year ended December 31