CVB Financial Corp. Reports Record Third Quarter Results.
Business Wire › October 20, 2005
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CVB Financial Corp. Reports Record Third Quarter Results.
ONTARIO, Calif. -- CVB Financial Corp. (NASDAQ:CVBF) and its subsidiary, Citizens Business Bank ("the Company"), announced record financial results for the third quarter of 2005. This included record deposits, record loans, record assets and record earnings. It was the strongest third quarter in the history of the Company.
Net Income CVB Financial Corp. reported net income of $18.3 million for the third quarter ending Sept. 30, 2005. This represents an increase of $1.2 million, or 6.98%, when compared with the $17.1 million in net earnings reported for the third quarter of 2004. Diluted earnings per share were $0.29 for the third quarter of 2005. This was up $0.01, or 3.57%, when compared with earnings per share of $0.28 for the third quarter of 2004. Net income for the third quarter of 2005 produced a return on beginning equity of 21.51%, a return on average equity of 20.75% and a return on average assets of 1.46%. The efficiency ratio for the third quarter of 2005 was 45.43%, and operating expenses as a percentage of average assets were 1.85%. Net income for the nine months ending Sept. 30, 2005 was $53.4 million. This represents an increase of $8.8 million, or 19.83%, ...See the full content of this document
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