Exhibit 99.1
 
 Press Release   For Immediate Release
 Contact:
    
    Christopher D. MyersPresident and CEO
(909) 980-4030
 CVB Financial Corp. Reports Record Second Quarter Earnings for 2011
 
    
    Net income of $21.0 million for the second quarter of 2011
 
    
    Diluted earnings per common share were $0.20 for the second quarter and $0.35
year-to-date
 
    
    Allowance for credit losses represents 3.04% of total CBB non-covered loans & leases
 
    
    Non-performing loans decreased to $75.1 million, down from $157.0 million at December
31, 2010, and now represent 2.35% of total CBB non-covered loans and leases
 
    
    Non-interest bearing deposits were $1.89 billion at June 30, 2011, an increase of
$193.0 million from $1.70 billion at December 31, 2010
 Ontario, CA, July 20, 2011-




---



##### 



Net Interest Income and Net Interest Margin
   - 2 -




---



##### 



Assets
  Investment Securities
     Loans
  
    
    $79.3 million to the non-covered dairy and livestock portfolio.
 
    
    $42.9 million in note sales related to our former largest borrower.
 
    
    $39.8 million from working down problem assets acquired from SJB.
  - 3 -




---



##### 



Deposits & Customer Repurchase Agreements
    Borrowings
  Asset Quality
    - 4 -




---



##### 



Citizens Business Bank Asset Quality (Non-covered loans)
          - 5 -




---



##### 



San Joaquin Bank Asset Quality (Covered loans)
  CitizensTrust
  Conference Call
 st
  www.cbbank.com
 Corporate Overview
    - 6 -




---



##### 



Safe Harbor
 Certain matters set forth herein (including the exhibits hereto) constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995, including
forward-looking statements relating to the Companys current business plan and expectations
regarding future operating results. These forward-looking statements are subject to risks and
uncertainties that could cause actual results, performance or achievements to differ materially
from those projected. These risks and uncertainties include, but are not limited to, local,
regional, national and international economic conditions and events and the impact they may have on
us and our customers; ability to attract deposits and other sources of liquidity; oversupply of
inventory and continued deterioration in values of California real estate, both residential and
commercial; a prolonged slowdown in construction activity; changes in the financial performance
and/or condition of our borrowers; changes in the level of non-performing assets and charge-offs;
ability to repurchase our securities issued to the U.S. Treasury pursuant to its Capital Purchase
Program; the effect of changes in laws and regulations (including laws and regulations concerning
taxes, banking, securities, executive compensation and insurance) with which we and our
subsidiaries must comply; changes in estimates of future reserve requirements based upon the
periodic review thereof under relevant regulatory and accounting requirements; inflation, interest
rate, securities market and monetary fluctuations; political instability; acts of war or terrorism,
or natural disasters, such as earthquakes, or the effects of pandemic flu; the timely development
and acceptance of new banking products and services and perceived overall value of these products
and services by users; changes in consumer spending, borrowing and savings habits; technological
changes; the ability to increase market share and control expenses; changes in the competitive
environment among financial and bank holding companies and other financial service providers;
continued volatility in the credit and equity markets and its effect on the general economy; the
effect of changes in accounting policies and practices, as may be adopted by the regulatory
agencies, as well as the Public Company Accounting Oversight Board, the Financial Accounting
Standards Board and other accounting standard setters; changes in our organization, management,
compensation and benefit plans; the costs and effects of legal and regulatory developments
including the resolution of legal proceedings or regulatory or other governmental inquiries and the
results of regulatory examinations or reviews; our success at managing the risks involved in the
foregoing items and other factors set forth in the Companys public reports including its Annual
Report on Form 10-K for the year ended December 31, 2010, and particularly the discussion of risk
factors within that document. The Company does not undertake, and specifically disclaims any
obligation to update any forward-looking statements to reflect occurrences or unanticipated events
or circumstances after the date of such statements except as required by law.
   - 7 -




---



##### 



CVB FINANCIAL CORP. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
(unaudited)
 June 30,
    
    
    December 31,2011
    
    
    2010
    
    
    2010Assets:Cash and due from banks
    
    $
    102,600
    
    
    $
    56,342
    
    
    $
    67,279Interest-bearing balances due from Federal Reserve
    
    
    304,131
    
    
    
    394,704
    
    
    
    286,769Interest-bearing balances due from depository institutions
    
    
    50,344
    
    
    
    50,274
    
    
    
    50,227Total cash and cash equivalents
    
    
    457,075
    
    
    
    501,320
    
    
    
    404,275Interest-bearing balances due from depository institutions
    
    
    50,190
    
    
    
    190
    
    
    
    50,190Investment Securities available-for-sale
    
    
    1,978,997
    
    
    
    2,011,492
    
    
    
    1,791,558Investment Securities held-to-maturity
    
    
    2,814
    
    
    
    3,173
    
    
    
    3,143Investment in stock of Federal Home Loan Bank (FHLB)
    
    
    79,744
    
    
    
    93,962
    
    
    
    86,744Loans held-for-sale
    
    
    7,341
    
    
    
    2,554
    
    
    
    2,954Loans and lease finance receivables
    
    
    3,526,596
    
    
    
    3,929,321
    
    
    
    3,747,740Less allowance for credit losses
    
    
    (96,895
    )
    
    
    (118,548
    )
    
    
    (105,259
    )Net loans and lease finance receivables
    
    
    3,429,701
    
    
    
    3,810,773
    
    
    
    3,642,481Premises and equipment, net
    
    
    38,019
    
    
    
    42,585
    
    
    
    40,921Intangibles
    
    
    7,262
    
    
    
    10,872
    
    
    
    9,029Goodwill
    
    
    55,097
    
    
    
    55,097
    
    
    
    55,097Cash value of life insurance
    
    
    114,766
    
    
    
    111,385
    
    
    
    112,901FDIC loss sharing asset
    
    
    72,007
    
    
    
    111,992
    
    
    
    101,461Other assets
    
    
    167,180
    
    
    
    105,001
    
    
    
    135,937TOTAL
    
    $
    6,460,193
    
    
    $
    6,860,396
    
    
    $
    6,436,691Liabilities and Stockholders EquityLiabilities:Deposits:Demand Deposits (noninterest-bearing)
    
    $
    1,894,558
    
    
    $
    1,646,717
    
    
    $
    1,701,523Investment Checking
    
    
    340,645
    
    
    
    448,567
    
    
    
    384,674Savings/MMDA
    
    
    1,381,712
    
    
    
    1,307,002
    
    
    
    1,342,758Time Deposits
    
    
    887,356
    
    
    
    1,199,204
    
    
    
    1,089,873Total Deposits
    
    
    4,504,271
    
    
    
    4,601,490
    
    
    
    4,518,828Demand Note to U.S. Treasury
    
    
    2,483
    
    
    
    2,611
    
    
    
    1,917Customer Repurchase Agreements
    
    
    535,420
    
    
    
    745,661
    
    
    
    542,188Borrowings
    
    
    553,526
    
    
    
    653,254
    
    
    
    553,390Junior Subordinated Debentures
    
    
    115,055
    
    
    
    115,055
    
    
    
    115,055Other liabilities
    
    
    65,753
    
    
    
    68,341
    
    
    
    61,458Total Liabilities
    
    
    5,776,508
    
    
    
    6,186,412
    
    
    
    5,792,836Stockholders equity:Stockholders equity
    
    
    658,519
    
    
    
    631,063
    
    
    
    637,670Accumulated other comprehensive income, net of tax
    
    
    25,166
    
    
    
    42,921
    
    
    
    6,185683,685
    
    
    
    673,984
    
    
    
    643,855TOTAL
    
    $
    6,460,193
    
    
    $
    6,860,396
    
    
    $
    6,436,691
  - 8 -




---



##### 



CVB FINANCIAL CORP. AND SUBSIDIARIES
CONSOLIDATED AVERAGE BALANCE SHEET
(unaudited)
 Three months ended June 30,
    
    
    Six months ended June 30,2011
    
    
    2010
    
    
    2011
    
    
    2010Assets:Cash and due from banks
    
    $
    98,325
    
    
    $
    101,453
    
    
    $
    103,595
    
    
    $
    99,038Interest-bearing balances due from Federal Reserve
    
    
    259,171
    
    
    
    311,154
    
    
    
    294,887
    
    
    
    239,809Federal funds sold and Interest-bearing balances due from
depository institutions
    
    
    50,307
    
    
    
    50,032
    
    
    
    50,278
    
    
    
    25,430Total cash and cash equivalents
    
    
    407,803
    
    
    
    462,639
    
    
    
    448,760
    
    
    
    364,277Interest-bearing balances due from depository institutions
    
    
    50,190
    
    
    
    190
    
    
    $
    50,190
    
    
    $
    579Investment securities available-for-sale
    
    
    1,966,753
    
    
    
    2,022,697
    
    
    
    1,911,914
    
    
    
    2,059,585Investment securities held-to-maturity
    
    
    2,941
    
    
    
    3,303
    
    
    
    2,970
    
    
    
    3,480Investment in stock of Federal Home Loan Bank (FHLB)
    
    
    81,547
    
    
    
    95,792
    
    
    
    84,055
    
    
    
    96,682Loans held-for-sale
    
    
    2,639
    
    
    
    1,055
    
    
    
    3,047
    
    
    
    1,596Loans and lease finance receivables
    
    
    3,559,541
    
    
    
    3,937,448
    
    
    
    3,618,735
    
    
    
    3,974,467Less allowance for credit losses
    
    
    (102,996
    )
    
    
    (117,368
    )
    
    
    (106,415
    )
    
    
    (115,960
    )Net loans and lease finance receivables
    
    
    3,456,545
    
    
    
    3,820,080
    
    
    
    3,512,320
    
    
    
    3,858,507Premises and equipment, net
    
    
    38,933
    
    
    
    41,907
    
    
    
    39,738
    
    
    
    41,671Intangibles
    
    
    7,629
    
    
    
    11,285
    
    
    
    8,073
    
    
    
    11,758Goodwill
    
    
    55,097
    
    
    
    55,097
    
    
    
    55,097
    
    
    
    55,097Cash value of life insurance
    
    
    114,320
    
    
    
    110,877
    
    
    
    113,767
    
    
    
    110,332FDIC loss sharing asset
    
    
    78,275
    
    
    
    117,467
    
    
    
    84,183
    
    
    
    125,261Other assets
    
    
    169,965
    
    
    
    123,816
    
    
    
    162,738
    
    
    
    123,220TOTAL
    
    $
    6,432,637
    
    
    $
    6,866,205
    
    
    $
    6,476,852
    
    
    $
    6,852,045Liabilities and Stockholders EquityLiabilities:Deposits:Noninterest-bearing
    
    $
    1,852,954
    
    
    $
    1,621,507
    
    
    $
    1,822,068
    
    
    $
    1,598,199Interest-bearing
    
    
    2,637,536
    
    
    
    2,922,559
    
    
    
    2,705,203
    
    
    
    2,913,978Total Deposits
    
    
    4,490,490
    
    
    
    4,544,066
    
    
    
    4,527,271
    
    
    
    4,512,177Other borrowings
    
    
    1,097,416
    
    
    
    1,485,896
    
    
    
    1,115,864
    
    
    
    1,513,045Junior Subordinated Debentures
    
    
    115,055
    
    
    
    115,055
    
    
    
    115,055
    
    
    
    115,055Other liabilities
    
    
    63,570
    
    
    
    54,589
    
    
    
    59,652
    
    
    
    53,874Total Liabilities
    
    
    5,766,531
    
    
    
    6,199,606
    
    
    
    5,817,842
    
    
    
    6,194,151Stockholders equity:Stockholders equity
    
    
    657,186
    
    
    
    633,367
    
    
    
    651,436
    
    
    
    628,027Accumulated other comprehensive income,
net of tax
    
    
    8,920
    
    
    
    33,232
    
    
    
    7,574
    
    
    
    29,867666,106
    
    
    
    666,599
    
    
    
    659,010
    
    
    
    657,894TOTAL
    
    $
    6,432,637
    
    
    $
    6,866,205
    
    
    $
    6,476,852
    
    
    $
    6,852,045
  - 9 -




---



##### 



CVB FINANCIAL CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
(unaudited)
dollar amounts in thousands, except per share
 For the Three Months
    
    
    For the Six MonthsEnded June 30,
    
    
    Ended June 30,2011
    
    
    2010
    
    
    2011
    
    
    2010Interest Income:Loans held-for-sale
    
    $
    10
    
    
    $
    15
    
    
    $
    29
    
    
    $
    33Loans and leases, including fees
    
    
    48,980
    
    
    
    54,684
    
    
    
    98,325
    
    
    
    109,056Accelerated accretion on acquired loans
    
    
    5,707
    
    
    
    4,473
    
    
    
    7,658
    
    
    
    17,851Total loans and leases, including fees
    
    
    54,697
    
    
    
    59,172
    
    
    
    106,012
    
    
    
    126,940Investment securities:Taxable
    
    
    10,152
    
    
    
    14,391
    
    
    
    18,990
    
    
    
    30,475Tax-advantaged
    
    
    5,921
    
    
    
    6,409
    
    
    
    11,840
    
    
    
    12,941Total investment income
    
    
    16,073
    
    
    
    20,800
    
    
    
    30,830
    
    
    
    43,416Dividends from FHLB Stock
    
    
    66
    
    
    
    63
    
    
    
    131
    
    
    
    129Federal funds sold & Interest-bearing CDs
    
    
    346
    
    
    
    238
    
    
    
    721
    
    
    
    340Total interest income
    
    
    71,182
    
    
    
    80,273
    
    
    
    137,694
    
    
    
    170,825Interest Expense:Deposits
    
    
    2,220
    
    
    
    4,841
    
    
    
    5,008
    
    
    
    10,129Borrowings and junior subordinated debentures
    
    
    6,567
    
    
    
    11,218
    
    
    
    13,182
    
    
    
    23,143Total interest expense
    
    
    8,787
    
    
    
    16,059
    
    
    
    18,190
    
    
    
    33,272Net interest income before provision for credit losses
    
    
    62,395
    
    
    
    64,214
    
    
    
    119,504
    
    
    
    137,553Provision for credit losses
    
    
    
    
    
    
    11,000
    
    
    
    7,068
    
    
    
    23,200Net interest income after
provision for credit losses
    
    
    62,395
    
    
    
    53,214
    
    
    
    112,436
    
    
    
    114,353Other Operating Income:Impairment loss on investment securities
    
    
    (119
    )
    
    
    
    
    
    
    (119
    )
    
    
    (98
    )Loss reclassified to/(from) other comprehensive
income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (587
    )Net impairment loss on investment securities
recognized in earnings
    
    
    (119
    )
    
    
    
    
    
    
    (119
    )
    
    
    (685
    )Service charges on deposit accounts
    
    
    4,029
    
    
    
    4,196
    
    
    
    7,752
    
    
    
    8,461Trust and investment services
    
    
    2,259
    
    
    
    2,209
    
    
    
    4,412
    
    
    
    4,327Gain on sale of investment securities
    
    
    
    
    
    
    8,781
    
    
    
    
    
    
    
    8,781Increase (reduction) in FDIC loss sharing asset
    
    
    (1,689
    )
    
    
    (1,587
    )
    
    
    (274
    )
    
    
    (12,170
    )Other
    
    
    1,514
    
    
    
    1,819
    
    
    
    4,201
    
    
    
    4,493Total other operating income
    
    
    5,994
    
    
    
    15,418
    
    
    
    15,972
    
    
    
    13,207Other operating expenses:Salaries and employee benefits
    
    
    18,220
    
    
    
    17,479
    
    
    
    35,880
    
    
    
    35,552Occupancy
    
    
    2,742
    
    
    
    2,947
    
    
    
    5,573
    
    
    
    6,081Equipment
    
    
    1,339
    
    
    
    1,835
    
    
    
    2,829
    
    
    
    3,754Professional services
    
    
    5,028
    
    
    
    2,881
    
    
    
    8,637
    
    
    
    5,688Amortization of intangible assets
    
    
    866
    
    
    
    939
    
    
    
    1,767
    
    
    
    1,889Provision for unfunded commitments
    
    
    
    
    
    
    450
    
    
    
    732
    
    
    
    1,700OREO Expense
    
    
    1,671
    
    
    
    654
    
    
    
    2,776
    
    
    
    667Other
    
    
    7,289
    
    
    
    14,262
    
    
    
    15,266
    
    
    
    22,038Total other operating expenses
    
    
    37,155
    
    
    
    41,447
    
    
    
    73,460
    
    
    
    77,369Earnings before income taxes
    
    
    31,234
    
    
    
    27,185
    
    
    
    54,948
    
    
    
    50,191Income taxes
    
    
    10,196
    
    
    
    8,170
    
    
    
    17,310
    
    
    
    15,057Net earnings
    
    
    21,038
    
    
    
    19,015
    
    
    
    37,638
    
    
    
    35,134Allocated to restricted stock
    
    
    82
    
    
    
    64
    
    
    
    148
    
    
    
    119Net earnings allocated to common shareholders
    
    $
    20,956
    
    
    $
    18,951
    
    
    $
    37,490
    
    
    $
    35,015Basic earnings per common share
    
    $
    0.20
    
    
    $
    0.18
    
    
    $
    0.35
    
    
    $
    0.33Diluted earnings per common share
    
    $
    0.20
    
    
    $
    0.18
    
    
    $
    0.35
    
    
    $
    0.33Cash dividends per common share
    
    $
    0.085
    
    
    $
    0.085
    
    
    $
    0.17
    
    
    $
    0.17
  - 10 -




---



##### 



CVB FINANCIAL CORP. AND SUBSIDIARIES
SELECTED FINANCIAL HIGHLIGHTS
(unaudited)
 Three months ended June 30,
    
    
    Six months ended June 30,2011
    
    
    2010
    
    
    2011
    
    
    2010Interest income  (Tax-Effected) (te)
    
    $
    73,652
    
    
    $
    82,915
    
    
    $
    142,634
    
    
    $
    176,150Interest Expense
    
    
    8,787
    
    
    
    16,059
    
    
    
    18,190
    
    
    
    33,272Net Interest income  (te)
    
    $
    64,865
    
    
    $
    66,856
    
    
    $
    124,444
    
    
    $
    142,878Return on average assets, annualized
    
    
    1.31
    %
    
    
    1.11
    %
    
    
    1.17
    %
    
    
    1.03
    %Return on average equity, annualized
    
    
    12.67
    %
    
    
    11.44
    %
    
    
    11.52
    %
    
    
    10.77
    %Efficiency ratio
    
    
    54.33
    %
    
    
    60.39
    %
    
    
    57.21
    %
    
    
    60.65
    %Yield on average earning assets
    
    
    4.95
    %
    
    
    5.17
    %
    
    
    4.78
    %
    
    
    5.75
    %Cost of deposits
    
    
    0.20
    %
    
    
    0.43
    %
    
    
    0.22
    %
    
    
    0.45
    %Cost of deposits and customer repurchase agreements
    
    
    0.22
    %
    
    
    0.45
    %
    
    
    0.24
    %
    
    
    0.48
    %Cost of funds
    
    
    0.61
    %
    
    
    1.04
    %
    
    
    0.63
    %
    
    
    1.08
    %Net interest margin (te)
    
    
    4.37
    %
    
    
    4.18
    %
    
    
    4.17
    %
    
    
    4.67
    %Net interest margin (te) excluding discount
    
    
    3.92
    %
    
    
    3.80
    %
    
    
    3.85
    %
    
    
    3.97
    %Weighted average shares outstandingBasic
    
    
    105,659,326
    
    
    
    105,988,971
    
    
    
    105,655,290
    
    
    
    105,961,239Diluted
    
    
    105,763,588
    
    
    
    106,272,867
    
    
    
    105,733,814
    
    
    
    106,231,807Dividends declared
    
    $
    9,017
    
    
    $
    9,041
    
    
    $
    18,034
    
    
    $
    18,076Dividend payout ratio
    
    
    42.86
    %
    
    
    47.55
    %
    
    
    47.91
    %
    
    
    51.45
    %Number of shares outstanding-EOP
    
    
    106,084,192
    
    
    
    106,435,754Book value per share
    
    $
    6.44
    
    
    $
    6.33Tangible Book value per share
    
    $
    5.86
    
    
    $
    5.71
 June 30,2011
    
    
    2010(Non-covered loans)Non-performing Assets (dollar amount in thousands):Non-accrual loans
    
    $
    75,050
    
    
    $
    82,850Loans past due 90 days or more
and still accruing interest
    
    
    
    
    
    
    Other real estate owned (OREO), net
    
    
    13,718
    
    
    
    15,001Total non-performing assets
    
    $
    88,768
    
    
    $
    97,851Percentage of non-performing assets
to total loans outstanding and OREO
    
    
    2.77
    %
    
    
    2.78
    %Percentage of non-performing
assets to total assets
    
    
    1.37
    %
    
    
    1.43
    %Allowance for loan losses to
non-performing assets
    
    
    109.16
    %
    
    
    121.15
    %Net Charge-offs to Average loans
    
    
    0.47
    %
    
    
    0.38
    %Allowance for Credit Losses:Beginning Balance
    
    $
    105,259
    
    
    $
    108,924Total Loans Charged-Off
    
    
    (16,644
    )
    
    
    (13,771
    )Total Loans Recovered
    
    
    1,212
    
    
    
    195Net Loans Charged-off
    
    
    (15,432
    )
    
    
    (13,576
    )Provision Charged to Operating Expense
    
    
    7,068
    
    
    
    23,200Allowance for Credit Losses at End of period
    
    $
    96,895
    
    
    $
    118,548
  - 11 -




---



##### 



CVB FINANCIAL CORP. AND SUBSIDIARIES
SELECTED FINANCIAL HIGHLIGHTS
(in thousands, except per share data)
(unaudited)
 Quarterly Common Stock Price
 2011
    
    
    2010
    
    
    2009Quarter End
    
    High
    
    
    Low
    
    
    High
    
    
    Low
    
    
    High
    
    
    LowMarch 31,
    
    $
    9.32
    
    
    $
    7.83
    
    
    $
    10.89
    
    
    $
    8.44
    
    
    $
    12.11
    
    
    $
    5.31June 30,
    
    $
    9.94
    
    
    $
    8.18
    
    
    $
    11.85
    
    
    $
    9.00
    
    
    $
    7.77
    
    
    $
    5.69September 30,
    
    
    
    
    
    
    
    
    
    $
    10.99
    
    
    $
    6.61
    
    
    $
    8.70
    
    
    $
    4.90December 31,
    
    
    
    
    
    
    
    
    
    $
    9.09
    
    
    $
    7.30
    
    
    $
    9.00
    
    
    $
    6.93
 Quarterly Consolidated Statements of Earnings
 2Q
    
    
    1Q
    
    
    4Q
    
    
    3Q
    
    
    2Q2011
    
    
    2011
    
    
    2010
    
    
    2010
    
    
    2010Interest incomeLoans, including fees
    
    $
    54,697
    
    
    $
    51,315
    
    
    $
    55,621
    
    
    $
    58,165
    
    
    $
    59,172Investment securities and other
    
    
    16,485
    
    
    
    15,197
    
    
    
    14,370
    
    
    
    18,308
    
    
    
    21,10171,182
    
    
    
    66,512
    
    
    
    69,991
    
    
    
    76,473
    
    
    
    80,273Interest expenseDeposits
    
    
    2,220
    
    
    
    2,788
    
    
    
    3,814
    
    
    
    4,310
    
    
    
    4,841Other borrowings
    
    
    6,567
    
    
    
    6,615
    
    
    
    7,028
    
    
    
    9,548
    
    
    
    11,2188,787
    
    
    
    9,403
    
    
    
    10,842
    
    
    
    13,858
    
    
    
    16,059Net interest income before
provision for credit losses
    
    
    62,395
    
    
    
    57,109
    
    
    
    59,149
    
    
    
    62,615
    
    
    
    64,214Provision for credit losses
    
    
    
    
    
    
    7,068
    
    
    
    12,700
    
    
    
    25,300
    
    
    
    11,000Net interest income after
provision for credit losses
    
    
    62,395
    
    
    
    50,041
    
    
    
    46,449
    
    
    
    37,315
    
    
    
    53,214Non-interest income
    
    
    5,994
    
    
    
    9,978
    
    
    
    7,188
    
    
    
    36,719
    
    
    
    15,418Non-interest expenses
    
    
    37,155
    
    
    
    36,305
    
    
    
    41,805
    
    
    
    49,318
    
    
    
    41,447Earnings before income taxes
    
    
    31,234
    
    
    
    23,714
    
    
    
    11,832
    
    
    
    24,716
    
    
    
    27,185Income taxes
    
    
    10,196
    
    
    
    7,114
    
    
    
    1,958
    
    
    
    6,789
    
    
    
    8,170Net earnings
    
    
    21,038
    
    
    
    16,600
    
    
    
    9,874
    
    
    
    17,927
    
    
    
    19,015Allocated to restricted stock
    
    
    82
    
    
    
    66
    
    
    
    41
    
    
    
    58
    
    
    
    64Net earnings allocated to common shareholders
    
    $
    20,956
    
    
    $
    16,534
    
    
    $
    9,833
    
    
    $
    17,869
    
    
    $
    18,951Basic earning per common share
    
    $
    0.20
    
    
    $
    0.16
    
    
    $
    0.09
    
    
    $
    0.17
    
    
    $
    0.18Diluted earnings per common share
    
    $
    0.20
    
    
    $
    0.16
    
    
    $
    0.09
    
    
    $
    0.17
    
    
    $
    0.18Cash dividends per common share
    
    $
    0.085
    
    
    $
    0.085
    
    
    $
    0.085
    
    
    $
    0.085
    
    
    $
    0.085Dividends Declared
    
    $
    9,017
    
    
    $
    9,017
    
    
    $
    9,016
    
    
    $
    9,011
    
    
    $
    9,041
  - 12 -




---



##### 



CVB FINANCIAL CORP. AND SUBSIDIARIES
SELECTED FINANCIAL HIGHLIGHTS
(in thousands)
(unaudited)
 Distribution of Loan Portfolio
 6/30/2011
    
    
    3/31/2011
    
    
    12/31/2010
    
    
    9/30/2010
    
    
    6/30/2010Commercial and Industrial
    
    $
    500,746
    
    
    $
    490,316
    
    
    $
    499,986
    
    
    $
    509,502
    
    
    $
    513,483Real Estate:Construction
    
    
    119,637
    
    
    
    169,562
    
    
    
    223,478
    
    
    
    280,756
    
    
    
    305,724Commercial Real Estate
    
    
    2,237,975
    
    
    
    2,255,247
    
    
    
    2,272,270
    
    
    
    2,280,861
    
    
    
    2,321,257SFR Mortgage
    
    
    201,457
    
    
    
    210,445
    
    
    
    224,325
    
    
    
    238,179
    
    
    
    254,499Consumer
    
    
    59,496
    
    
    
    61,622
    
    
    
    67,371
    
    
    
    71,487
    
    
    
    73,342Municipal lease finance receivables
    
    
    119,792
    
    
    
    122,897
    
    
    
    129,128
    
    
    
    149,584
    
    
    
    154,042Auto and equipment leases
    
    
    16,998
    
    
    
    17,399
    
    
    
    17,982
    
    
    
    20,658
    
    
    
    23,754Dairy and Livestock
    
    
    296,801
    
    
    
    325,052
    
    
    
    376,143
    
    
    
    359,778
    
    
    
    378,785Agribusiness
    
    
    52,528
    
    
    
    49,664
    
    
    
    57,304
    
    
    
    61,206
    
    
    
    69,663Gross Loans
    
    
    3,605,430
    
    
    
    3,702,204
    
    
    
    3,867,987
    
    
    
    3,972,011
    
    
    
    4,094,549Less:Purchase Accounting Discount
    
    
    (73,449
    )
    
    
    (98,117
    )
    
    
    (114,763
    )
    
    
    (143,752
    )
    
    
    (159,393
    )Deferred net loan fees
    
    
    (5,385
    )
    
    
    (5,640
    )
    
    
    (5,484
    )
    
    
    (5,457
    )
    
    
    (5,835
    )Allowance for credit losses
    
    
    (96,895
    )
    
    
    (101,067
    )
    
    
    (105,259
    )
    
    
    (105,289
    )
    
    
    (118,548
    )Net Loans
    
    $
    3,429,701
    
    
    $
    3,497,380
    
    
    $
    3,642,481
    
    
    $
    3,717,513
    
    
    $
    3,810,773Covered Loans
    
    $
    334,225
    
    
    $
    348,759
    
    
    $
    374,012
    
    
    $
    403,822
    
    
    $
    424,377Non-covered Loans
    
    
    3,095,476
    
    
    
    3,148,621
    
    
    
    3,268,469
    
    
    
    3,313,691
    
    
    
    3,386,396Total Net Loans
    
    $
    3,429,701
    
    
    $
    3,497,380
    
    
    $
    3,642,481
    
    
    $
    3,717,513
    
    
    $
    3,810,773
  - 13 -




---



##### 



CVB FINANCIAL CORP. AND SUBSIDIARIES
SELECTED FINANCIAL HIGHLIGHTS
(in thousands)
(unaudited)
 Non-Performing Assets & Delinquency Trends  (Non-Covered Loans)
 June 30,
    
    
    March 31,
    
    
    December 31,
    
    
    September 30,
    
    
    June 30,2011
    
    
    2011
    
    
    2010
    
    
    2010
    
    
    2010Non-Performing LoansResidential Construction and Land
    
    $
    1,080
    
    
    $
    4,001
    
    
    $
    4,090
    
    
    $
    5,085
    
    
    $
    2,789Commercial Construction and Land
    
    
    23,953
    
    
    
    39,976
    
    
    
    60,591
    
    
    
    71,428
    
    
    
    39,114Residential Mortgage
    
    
    17,786
    
    
    
    18,425
    
    
    
    17,800
    
    
    
    14,543
    
    
    
    12,638Commercial Real Estate
    
    
    24,731
    
    
    
    34,950
    
    
    
    64,859
    
    
    
    56,330
    
    
    
    20,639Commercial and Industrial
    
    
    4,649
    
    
    
    7,542
    
    
    
    3,936
    
    
    
    6,067
    
    
    
    7,527Dairy & Livestock
    
    
    2,672
    
    
    
    2,996
    
    
    
    5,207
    
    
    
    5,176
    
    
    
    Consumer
    
    
    179
    
    
    
    260
    
    
    
    537
    
    
    
    242
    
    
    
    143Total
    
    $
    75,050
    
    
    $
    108,150
    
    
    $
    157,020
    
    
    $
    158,871
    
    
    $
    82,850% of Total Loans
    
    
    2.35
    %
    
    
    3.33
    %
    
    
    4.65
    %
    
    
    4.65
    %
    
    
    2.36
    %Past Due 30-89 DaysResidential Construction and Land
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    Commercial Construction and Land
    
    
    
    
    
    
    1,492
    
    
    
    
    
    
    
    
    
    
    
    9,093Residential Mortgage
    
    
    460
    
    
    
    993
    
    
    
    2,597
    
    
    
    2,779
    
    
    
    2,552Commercial Real Estate
    
    
    2,590
    
    
    
    898
    
    
    
    3,194
    
    
    
    1,234
    
    
    
    1,966Commercial and Industrial
    
    
    740
    
    
    
    239
    
    
    
    3,320
    
    
    
    2,333
    
    
    
    634Dairy & Livestock
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,406
    
    
    
    Consumer
    
    
    91
    
    
    
    9
    
    
    
    29
    
    
    
    494
    
    
    
    139Total
    
    $
    3,881
    
    
    $
    3,631
    
    
    $
    9,140
    
    
    $
    8,246
    
    
    $
    14,384% of Total Loans
    
    
    0.12
    %
    
    
    0.11
    %
    
    
    0.27
    %
    
    
    0.24
    %
    
    
    0.41
    %OREOResidential Construction and Land
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    11,113
    
    
    $
    11,113Commercial Construction and Land
    
    
    7,117
    
    
    
    2,709
    
    
    
    2,709
    
    
    
    2,709
    
    
    
    Commercial Real Estate
    
    
    6,314
    
    
    
    3,322
    
    
    
    2,581
    
    
    
    3,220
    
    
    
    3,220Commercial and Industrial
    
    
    
    
    
    
    209
    
    
    
    
    
    
    
    
    
    
    
    668Residential Mortgage
    
    
    287
    
    
    
    
    
    
    
    
    
    
    
    345
    
    
    
    Consumer
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Total
    
    $
    13,718
    
    
    $
    6,240
    
    
    $
    5,290
    
    
    $
    17,387
    
    
    $
    15,001Total Non-Performing, Past Due & OREO
    
    $
    92,649
    
    
    $
    118,021
    
    
    $
    171,450
    
    
    $
    184,504
    
    
    $
    112,235% of Total Loans
    
    
    2.90
    %
    
    
    3.63
    %
    
    
    5.08
    %
    
    
    5.40
    %
    
    
    3.20
    %
  - 14 -




---



##### 



Net interest income and net interest margin reconciliations (Non-GAAP)
  Three months ended
    
    
    Six months endedJune 30, 2011
    
    
    June 30, 2011(amounts in thousands)Average
    
    
    
    
    
    
    
    
    
    
    AverageBalance
    
    
    Interest
    
    
    Yield
    
    
    Volume
    
    
    Interest
    
    
    YieldTotal interest-earning assets
    
    $
    5,974,745
    
    
    $
    71,182
    
    
    
    4.95
    %
    
    $
    6,017,731
    
    
    $
    137,694
    
    
    
    4.78
    %Accelerated accretion on acquired loans
    
    
    92,614
    
    
    
    (5,707
    )
    
    
    
    
    
    
    102,727
    
    
    
    (7,658
    )Total interest-earning assets, excluding SJB
loan discount and yield adjustment
    
    $
    6,067,359
    
    
    $
    65,475
    
    
    
    4.49
    %
    
    $
    6,120,458
    
    
    $
    130,036
    
    
    
    4.44
    %Net interest income and net interest margin (TE)
    
    
    
    
    
    $
    64,865
    
    
    
    4.37
    %
    
    
    
    
    
    $
    124,444
    
    
    
    4.17
    %Yield adjustment to interest income from
discount accretion
    
    
    
    
    
    
    (5,707
    )
    
    
    
    
    
    
    
    
    
    
    (7,658
    )Net interest income and net interest margin
(TE), excluding yield adjustment
    
    
    
    
    
    $
    59,158
    
    
    
    3.92
    %
    
    
    
    
    
    $
    116,786
    
    
    
    3.85
    %
  - 15 -