ONTARIO, Calif., March 29, 2023 (GLOBE NEWSWIRE) -- CVB Financial Corp. (NASDAQ: CVBF), the holding company for Citizens Business Bank, was ranked by S&P Global Market Intelligence as the third best-performing public bank with assets greater than $10 billion in the United States for 2022.
S&P Global Market Intelligence recently released its annual rankings of the best-performing U.S. public banks with assets exceeding $10 billion. Ontario, Calif.-based CVB Financial Corp. was ranked third overall and was the only bank in the analysis of the top 50 U.S. public banks to score better than the industry median for all seven metrics that were considered in the ranking.
“It is a great honor to be recognized by S&P Global Market Intelligence as one of the top three banks in the country,” said David A. Brager, President and Chief Executive Officer of CVB Financial Corp. and Citizens Business Bank. “Citizens Business Bank continues to be a steady and reliable business partner to our customers, providing a wide array of financial services through various economic cycles. Our continued success can be attributed to the strength and loyalty of our customers, our solid financial position, and the dedication and talent of our associates.”
To establish its rankings, S&P Global Market Intelligence looked at the 2022 financial performance of operating U.S. public banks with total assets exceeding $10 billion as of the end of 2022. Companies were ranked based on three major categories: growth, profitability and safety and soundness.
CVB Financial Corp. (“CVBF”) is the holding company for Citizens Business Bank. CVBF is one of the 10 largest bank holding companies headquartered in California with over $16 billion in total assets. Citizens Business Bank is consistently recognized as one of the top performing banks in the nation and offers a wide array of banking, lending and investing services with more than 60 banking centers and 4 trust office locations serving California.
Shares of CVB Financial Corp. common stock are listed on the NASDAQ under the ticker symbol “CVBF”. For investor information on CVB Financial Corp., visit our Citizens Business Bank website at www.cbbank.com and click on the “Investors” tab.
This presentation contains forward-looking statements that are intended to be covered by the safe harbor for such statements provided by the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of the management of CVB Financial Corp. and Citizens Business Bank (collectively, the “Company”) and are subject to significant risks and uncertainties that could cause actual results or performance to differ materially from those projected. You should not place undue reliance on these statements. Factors that could cause the Company’s actual results to differ materially from those described in the forward-looking statements include, among others, changes in the U.S. economy or local, regional and global business, economic and political conditions; changes in laws or the regulatory environment, including trade, monetary and fiscal policies and laws; inflation or deflation, interest rate, market and monetary fluctuations; the effect of acquisitions we have made or may make; changes in the competitive environment, including technological changes; cybersecurity and fraud threats; changes in the commercial and residential real estate markets; threats of terrorism or military action, catastrophic events or natural disasters such as earthquakes, drought, pandemic disease, climate change and extreme weather; and unanticipated legal or regulatory proceedings. These factors also include those contained in the Company’s filings with the Securities and Exchange Commission, including the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. These forward-looking statements speak solely as of the date they are made and are based only on information then actually known to the Company’s executives who are making the associated statements. The Company does not undertake to update any forward-looking statements except as required by law.
Contact: David A. Brager
President and Chief Executive Officer