Company: CVBF
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0000950170-25-051966
Chunk: 5

Company: CVB FINANCIAL CORP
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 5
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| E. Allen Nicholson  |     | Executive Vice President and Chief Financial Officer of CVB Financial Corp. and Citizens Business Bank |
| Yamynn DeAngelis    |     | Executive Vice President, Chief Risk Officer of Citizens Business Bank                                 |
| David F. Farnsworth |     | Executive Vice President, Chief Credit Officer of Citizens Business Bank                               |
| David C. Harvey     |     | Executive Vice President, Chief Operating Officer of Citizens Business Bank                            |
| Richard H. Wohl     |     | Executive Vice President, General Counsel of CVB Financial Corp. and Citizens Business Bank            |

Biographical information about each of our executive officers named above and employed by the Company as of December 31, 2024 is contained under Item 1 of our Annual Report on Form 10-K for 2024, a copy of which is being mailed with this proxy statement or, as referenced in the Notice, is available at https://investors.cbbank.com/annual-meeting.

Overview of our Financial and Operating Performance in 2024

| 2024 Net Income | 2024 End of Period Assets | 2024 End of Period Deposits and Customer Repurchase Agreements | 2024 End of PeriodCET1 Capital Ratio |
| $200.7 million  | $15.15 billion            | $12.21 billion                                                 | 16.2%                                |

2024 presented both new and enduring sets of economic challenges for financial institutions. At the global level,the dramatic expansion of hostilities in the Middle East, and meaningful changes in the momentum of the ongoing Russian invasion of Ukraine, continued to unsettle international markets, particularly in certain industries such as energy and agricultural products. Additionally, in the U.S., the lead-up to the presidential election in November created notable apprehensions for market participants, by injecting significant uncertainties in the areas of protectionism and trade risk, divergent fiscal and tax policies, immigration policy and its impact on labor supply, particularly in the agricultural and construction sectors, and the outlook for inflation and interest rates.

In the Company’s home market of California, the economy continued its trend during recent years of exhibiting sub-par growth and employment gains, with the state’s unemployment rate hovering in excess of 5%, and the state government’s budget deficit for 2024-25 anticipated to reach levels approaching $50 billion. California’s agriculture industry, which accounts for over a third of the country’s vegetables and three-fourths of the country’s fruits and nuts, continued to experience higher