Company: CVBF
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029985
Chunk: 173

Company: CVB FINANCIAL CORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 173
---
0
    %
     
    $
    93,692

    100.0
    %

The ACL/Total Loan Coverage Ratio as of December 31, 2024 decreased to 0.94%, compared to 0.98% as of December 31, 2023.

Deposits 

The primary source of funds to support earning assets (loans and investments) is the generation of deposits.

Total deposits were $11.95 billion at December 31, 2024. This represented an increase of $514.7 million, or 4.50%, from total deposits of $11.43 billion at December 31, 2023. This increase was partially due to a $300 million increase in brokered deposits in 2024.

The average balance of deposits by category and the average effective interest rates paid on deposits is summarized for the periods presented in the table below. 

    Year Ended December 31,

    2024

    2023

    2022

    Average

    Balance

    Rate

    Balance

    Rate

    Balance

    Rate

    (Dollars in thousands)

    Noninterest-bearing deposits
     
    $
    7,144,129

    —

    $
    7,793,336

    —

    $
    8,839,577

    —

    Interest-bearing deposits

    Investment checking

    527,922

    0.22
    %

    623,850

    0.19
    %

    747,944

    0.06
    %

    Money market

    3,172,463

    2.65
    %

    3,202,417

    1.49
    %

    3,509,750

    0.17
    %

    Savings

    443,068

    0.06
    %

    514,262

    0.05
    %

    608,809

    0.05
    %

    Time deposits

    635,728

    3.14
    %

    304,053

    0.83
    %

    358,578

    0.07
    %

    Total deposits
     
    $
    11,923,310

    $
    12,437,918

    $
    14,064,658