About CVB Financial

CVB Financial Corp. operates as the bank holding company for Citizens Business Bank that provides various community banking products and services. The company operates banking centers (centers) located in the Inland Empire, Los Angeles County, Orange County, San Diego County, Ventura County, Santa Barbara County, and the Central Valley area of California. On January 7, 2022, the company completed the acquisition of Suncrest Bank (Suncrest) in Visalia, California. The company also has trust offices located in Ontario, Newport Beach, Pasadena, and Bakersfield. These offices serve as sales offices for the bank’s wealth management, trust and investment products. The company, through its network of Centers, emphasizes personalized service combined with a wide range of banking and trust services for businesses, professionals and individuals located in the service areas of its Centers. Although the company focuses the marketing of its services to small-and medium-sized businesses, a wide range of banking, investment and trust services are made available to the markets the company serves. The company offers a wide range of bank deposit instruments. These include checking, savings, money market and time certificates of deposit for both business and personal accounts, municipalities and districts, and specialized deposit products for title and escrow. The company also serves as a federal tax depository for its business customers. The company provides a full complement of lending products, including commercial, agribusiness, consumer, federal Small Business Administration (SBA) loans, real estate loans, construction loans and equipment and vehicle leasing. Commercial products include lines of credit and other working capital financing, accounts receivable lending and letters of credit. Agribusiness products are loans to finance the operating needs of wholesale dairy farm operations, cattle feeders, livestock raisers, and farmers. The company provides bank qualified lease financing for municipal governments. Commercial real estate and construction loans are secured by a range of property types and include both owner-occupied and investor owned properties. The company also offers borrowers the ability to enter into interest rate swaps. Financing products for consumers include automobile leasing and financing, lines of credit, credit cards, home mortgages, and home equity loans and lines of credit. The company also offers a wide range of specialized services designed for the needs of its commercial customers. These services include treasury management systems for monitoring and managing cash flow, a merchant card processing program, armored pick-up and delivery, payroll services, remote deposit capture, electronic funds transfers, domestic and international wires and automated clearinghouse, and on-line account access. The company makes available investment products offered by other providers to its customers, including mutual funds, a full array of fixed income vehicles and a program to diversify its customers’ funds in federally insured time certificates of deposit of other institutions. In addition, the company offers a wide range of financial services and trust services through its CitizensTrust division. These services include fiduciary services, mutual funds, annuities, 401(k) plans and individual investment accounts. Investment Securities As of December 31, 2022, the company’s investment securities included mortgage-backed securities, CMO/REMIC, municipal bonds, and other securities. Regulation and Supervision The company is registered with the Board of Governors of the Federal Reserve System (‘Federal Reserve’) under the Bank Holding Company Act of 1956, as amended (the ‘Bank Holding Company Act’). The bank is subject to significant regulation and restrictions under applicable federal and state laws and by various regulatory agencies. These regulations and restrictions are intended primarily for the protection of depositors and the Federal Deposit Insurance Corporation (‘FDIC’) Deposit Insurance Fund (‘DIF’) and for the protection of borrowers, and secondarily for the stability of the U.S. banking system. The bank’s deposit accounts are insured under the Federal Deposit Insurance Act up to applicable limits. The bank is not a member of the Federal Reserve System. Many of the CARES Act’s programs were dependent upon the direct involvement of the U.S. financial institutions, such as the company and the bank, and have been implemented through rules and guidance adopted by federal departments and agencies, including the U.S. Department of Treasury, the Federal Reserve and other federal banking agencies, including those with direct supervisory jurisdiction over the company and the bank. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) amended the SBA’s loan program, in which the bank participates, to create a guaranteed, unsecured loan program, the PPP, to fund operational costs of eligible businesses, organizations and self-employed persons during COVID-19. The company is also a bank holding company within the meaning of Section 3700 of the California Financial Code. The company’s common stock is publicly held and listed on the NASDAQ Stock Market (‘NASDAQ’), and the company is subject to the periodic reporting, information, proxy solicitation, insider trading, corporate governance and other requirements and restrictions of the Securities Exchange Act of 1934 and the regulations of the Securities and Exchange Commission (‘SEC’) promulgated thereunder, as well as listing requirements of NASDAQ. The company is subject to the accounting oversight and corporate governance requirements of the Sarbanes-Oxley Act of 2002, including, among other things, required executive certification of financial presentations, requirements for board audit committees and their members, and disclosure of controls and procedures and internal control over financial reporting. As a California commercial bank whose deposits are insured by the FDIC, the bank is subject to regulation, supervision, and regular examination by the California Department of Financial Protection and Innovation (DFPI) and by the Federal Deposit Insurance Corporation (FDIC), as the bank’s primary Federal regulator, and must additionally comply with certain applicable regulations of the Federal Reserve. The FDIC insures the company’s customer deposits through the DIF up to prescribed limits for each depositor. The bank must comply with numerous federal and state anti-money laundering and consumer protection statutes and implementing regulations, including the USA PATRIOT Act of 2001, the Bank Secrecy Act, the Foreign Account Tax Compliance Act, the Community Reinvestment Act (CRA), the California Consumer Privacy Act, the Fair Debt Collection Practices Act, the Fair Credit Reporting Act, the Equal Credit Opportunity Act, the Truth in Lending Act, the Fair Housing Act, the Home Mortgage Disclosure Act, the Real Estate Settlement Procedures Act, the National Flood Insurance Act, the California Homeowner Bill of Rights and various federal and state privacy protection laws, including the Telephone Consumer Protection Act and CAN-SPAM Act. The bank received an overall ‘Satisfactory’ rating in its most recent FDIC CRA performance evaluation, which measures how financial institutions support their communities in the areas of lending, investment and service tests. The bank is subject to CFPB supervision including examination by the Bureau of Consumer Finance Protection (CFPB). History CVB Financial Corp. was founded in 1974. The company was incorporated in California in 1981.