CVB Financial (CVBF) Tops Q1 EPS by 2c

CVB Financial (NASDAQ: CVBF) reported Q1 EPS of $0.26, $0.02 better than the analyst estimate of $0.24. Revenue for the quarter came in at $2.3 million versus the consensus estimate of $2.2 million.

Chris Myers, President and CEO of Citizens Business Bank, commented, “We are pleased to complete the merger with Valley Commerce Bancorp. This acquisition adds approximately $400 million in assets and $300 million in loans to our balance sheet, while further strengthening our market share in the Central Valley area of California.” Myers commented further, “With the systems conversion of Valley Business Bank scheduled for May and the relocation of our operations and technology center to be completed in June, we should be well positioned for future growth.”

For earnings history and earnings-related data on CVB Financial (CVBF) click here.

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