Company: CVBF
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029985
Chunk: 231

Company: CVB FINANCIAL CORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 231
---

        $
        (449,867
        )

        Investment securities held-to-maturity:

        Government agency/GSE
        $
        —

        $
        —

        $
        432,684

        $
        (97,972
        )
         
        $
        432,684

        $
        (97,972
        )

        Mortgage-backed securities
         
        —

        —

        565,655

        (97,436
        )

        565,655

        (97,436
        )

        CMO/REMIC
         
        —

        —

        646,737

        (156,155
        )

        646,737

        (156,155
        )

        Municipal bonds
         
        20,609

        (200
        )

        293,467

        (33,404
        )

        314,076

        (33,604
        )

        Total held-to-maturity securities
        $
        20,609

        $
        (200
        )
         
        $
        1,938,543

        $
        (384,967
        )
         
        $
        1,959,152

        $
        (385,167
        )
       
        The following summarizes our analysis of these securities and the unrealized losses. Government Agency & Government-Sponsored Enterprise — The government agency bonds are backed by the full faith and credit of agencies of the U.S. Government. While the Government-Sponsored Enterprise bonds are not expressly guaranteed by the U.S. Government, they are currently being supported by the U.S. Government under a conservatorship arrangement. These securities are bullet securities, that is, they have a defined maturity date on which the principal is paid. The contractual term of these investments provides that the Company will receive the face value of the bond at maturity which will equal the amortized cost of the bond. Interest is received throughout the life of the security. Accordingly, it is expected that the securities would not be settled at a price less than the amortized cost of the bonds.  Mortgage-Backed Securities (“MBS”) and CMO/REMIC — Most of the Company’s mortgage-backed and CMO/REMIC securities are issued by Government Agencies or Government-Sponsored Enterprises such as Ginnie Mae, Fannie Mae and Freddie Mac. These securities are collateralized or backed by the underlying residential or commercial mortgages. All mortgage-backed securities are considered to be