Company: CVBF
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029985
Chunk: 46

Company: CVB FINANCIAL CORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 46
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 Bank may make additional contributions under the plan’s profit-sharing component, subject to certain limitations. The contribution made in 2024 was 1%, compared to 2% for 2023 and 3% for 2022. The Bank’s total contributions are determined by the Board of Directors and amounted to approximately $4.0 million for 2024, $4.8 million for 2023, and $5.2 million for 2022. 

14.	EARNINGS PER SHARE RECONCILIATION Basic earnings per common share are computed by dividing income allocated to common stockholders by the weighted-average number of common shares outstanding during each period. The computation of diluted earnings per common share considers the number of shares issuable upon the assumed exercise of outstanding common stock options. Antidilutive common shares are not included in the calculation of diluted earnings per common share. For the years ended December 31, 2024, 2023 and 2022, shares deemed to be antidilutive, and thus excluded from the computation of earnings per common share were 963,000, 1,044,000 and 236,000, respectively. The table below shows earnings per common share and diluted earnings per common share, and reconciles the numerator and denominator of both earnings per common share calculations.  

        Year Ended December 31,

        2024

        2023

        2022

        (In thousands, except per share amounts)

        Earnings per common share:

        Net earnings
         
        $
        200,716

        $
        221,435

        $
        235,425

        Less: Net earnings allocated to restricted stock

        1,445

        1,546

        1,508

        Net earnings allocated to common shareholders
         
        $
        199,271

        $
        219,889

        $
        233,917

        Weighted average shares outstanding

        138,415

        138,333

        139,652

        Basic earnings per common share
         
        $
        1.44

        $
        1.59

        $
        1.67

        Diluted earnings per common share:

        Net income allocated to common shareholders
         
        $
        199,271

        $
        219,889

        $
        233,917

        Weighted average shares outstanding

        138,415