CVB FINANCIAL CORP Q2 FY2026 Earnings Call

Thank you, Cherie, good morning, everyone. Thank you for joining us today to review our financial results for the second quarter of 2026. Joining me this morning is our Chief Executive Officer, Dave Brager, and our President, Clay Jones. Our comments today will refer to the financial information that was included in the earnings announcement released yesterday. To obtain a copy, please visit our website at www.cbbank.com and click on the Investors tab. The speakers on this call claim the protection of the safe…

Thank you, Allen. Good morning, everyone. For the second quarter of 2026, we reported net earnings of $48.3 million or $0.29 per share, representing our 197th consecutive quarter of profitability, which is every quarter for over 49 years. We previously declared a $0.20 per share dividend for the second quarter of 2026, representing our 147th consecutive quarter of paying a cash dividend to our shareholders. Our net earnings of $48.3 million or $0.29 per share compares with $51 million for the first quarter of 2026…

Thanks, Dave. Including the acquisition of Heritage Bank of Commerce, our total assets grew from $15.5 billion at March 31st, 2026 to $21.2 billion at June 30th. Total consideration for the acquisition of Heritage was approximately $845 million and resulted in total intangible assets of approximately $450 million, including $334 million of goodwill. The acquisition of Heritage included $1 billion of investment securities, of which we sold $490 million at the close of merger and subsequently purchased $500 million…

Thank you, Allen. Loan originations continued at a strong pace in the second quarter as originations for the second quarter of 2026 were approximately 85% higher than the second quarter of 2025 and 40% higher than the first quarter of 2026. Our loan pipelines remain relatively strong, although rate competition for high-quality…