Table of Contents
00--12-310000354647Q1false 0000354647 2021-01-01 2021-03-31 0000354647 2021-03-31 0000354647 2020-12-31 0000354647 2020-01-01 2020-03-31 0000354647 2020-03-31 0000354647 2022-01-01 2022-03-31 0000354647 2023-01-01 2023-03-31 0000354647 2021-04-30 0000354647 2019-12-31 0000354647 cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:SecuredByFarmLandMember us-gaap:RealEstateLoanMember 2020-12-31 0000354647 us-gaap:FinancingReceivables30To59DaysPastDueMember cvbf:CommercialRealEstateOwnerOccupiedMember 2020-12-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember cvbf:CommercialRealEstateOwnerOccupiedMember 2020-12-31 0000354647 cvbf:CommercialRealEstateOwnerOccupiedMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-12-31 0000354647 cvbf:CommercialRealEstateOwnerOccupiedMember 2020-12-31 0000354647 us-gaap:FinancingReceivables30To59DaysPastDueMember cvbf:CommercialRealEstateNonOwnerOccupiedMember 2020-12-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember cvbf:CommercialRealEstateNonOwnerOccupiedMember 2020-12-31 0000354647 cvbf:CommercialRealEstateNonOwnerOccupiedMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-12-31 0000354647 cvbf:CommercialRealEstateNonOwnerOccupiedMember 2020-12-31 0000354647 us-gaap:FinancingReceivables30To59DaysPastDueMember cvbf:ConstructionSpeculativeMember 2020-12-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember cvbf:ConstructionSpeculativeMember 2020-12-31 0000354647 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember cvbf:ConstructionSpeculativeMember 2020-12-31 0000354647 cvbf:ConstructionSpeculativeMember 2020-12-31 0000354647 us-gaap:FinancingReceivables30To59DaysPastDueMember cvbf:ConstructionNonSpeculativeMember 2020-12-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember cvbf:ConstructionNonSpeculativeMember 2020-12-31 0000354647 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember cvbf:ConstructionNonSpeculativeMember 2020-12-31 0000354647 cvbf:ConstructionNonSpeculativeMember 2020-12-31 0000354647 cvbf:SmallBusinessAdministrationLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-12-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember cvbf:SmallBusinessAdministrationLoansMember 2020-12-31 0000354647 cvbf:SmallBusinessAdministrationLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-12-31 0000354647 cvbf:SmallBusinessAdministrationLoansMember 2020-12-31 0000354647 cvbf:PaycheckProtectionProgramMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-12-31 0000354647 cvbf:PaycheckProtectionProgramMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-12-31 0000354647 cvbf:PaycheckProtectionProgramMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-12-31 0000354647 cvbf:PaycheckProtectionProgramMember 2020-12-31 0000354647 cvbf:CommercialAndIndustrialLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-12-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember cvbf:CommercialAndIndustrialLoansMember 2020-12-31 0000354647 cvbf:CommercialAndIndustrialLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-12-31 0000354647 cvbf:CommercialAndIndustrialLoansMember 2020-12-31 0000354647 us-gaap:FinancingReceivables30To59DaysPastDueMember cvbf:DairyLivestockAndAgribusinessMember 2020-12-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember cvbf:DairyLivestockAndAgribusinessMember 2020-12-31 0000354647 cvbf:DairyLivestockAndAgribusinessMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-12-31 0000354647 cvbf:DairyLivestockAndAgribusinessMember 2020-12-31 0000354647 us-gaap:FinancingReceivables30To59DaysPastDueMember cvbf:MunicipalLeaseFinanceReceivablesMember 2020-12-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember cvbf:MunicipalLeaseFinanceReceivablesMember 2020-12-31 0000354647 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember cvbf:MunicipalLeaseFinanceReceivablesMember 2020-12-31 0000354647 cvbf:MunicipalLeaseFinanceReceivablesMember 2020-12-31 0000354647 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ResidentialRealEstateMember 2020-12-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ResidentialRealEstateMember 2020-12-31 0000354647 us-gaap:ResidentialRealEstateMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-12-31 0000354647 us-gaap:ResidentialRealEstateMember 2020-12-31 0000354647 cvbf:ConsumerAndOtherLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-12-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember cvbf:ConsumerAndOtherLoansMember 2020-12-31 0000354647 cvbf:ConsumerAndOtherLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-12-31 0000354647 cvbf:ConsumerAndOtherLoansMember 2020-12-31 0000354647 us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-12-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-12-31 0000354647 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:ResidentialMortgageBackedSecuritiesMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member us-gaap:ResidentialMortgageBackedSecuritiesMember 2020-12-31 0000354647 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:CollateralizedMortgageObligationsMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:CollateralizedMortgageObligationsMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member us-gaap:CollateralizedMortgageObligationsMember 2020-12-31 0000354647 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedMortgageObligationsMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:USStatesAndPoliticalSubdivisionsMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member us-gaap:USStatesAndPoliticalSubdivisionsMember 2020-12-31 0000354647 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:OtherDebtSecuritiesMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:OtherDebtSecuritiesMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member us-gaap:OtherDebtSecuritiesMember 2020-12-31 0000354647 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherDebtSecuritiesMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CarryingReportedAmountFairValueDisclosureMember cvbf:InvestmentSecuritiesMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member cvbf:InvestmentSecuritiesMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member cvbf:InvestmentSecuritiesMember 2020-12-31 0000354647 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember cvbf:InvestmentSecuritiesMember 2020-12-31 0000354647 us-gaap:OtherAssetsMember us-gaap:InterestRateSwapMember us-gaap:NondesignatedMember 2020-12-31 0000354647 us-gaap:NondesignatedMember us-gaap:OtherAssetsMember 2020-12-31 0000354647 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-12-31 0000354647 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueInputsLevel1Member 2020-12-31 0000354647 us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2020-12-31 0000354647 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueInputsLevel3Member 2020-12-31 0000354647 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:InterestRateSwapMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:InterestRateSwapMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member us-gaap:InterestRateSwapMember 2020-12-31 0000354647 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:InterestRateSwapMember 2020-12-31 0000354647 cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:SecuredByFarmLandMember cvbf:SecuredByDairyAndLiveStockLandMember us-gaap:RealEstateLoanMember 2020-12-31 0000354647 cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:SecuredByFarmLandMember cvbf:SecuredByAgriculturalLandMember us-gaap:RealEstateLoanMember 2020-12-31 0000354647 cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:DairyAndLivestockLoansMember 2020-12-31 0000354647 cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:AgribusinessMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2020-12-31 0000354647 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:CommercialRealEstateMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:CommercialRealEstateMember us-gaap:FairValueInputsLevel1Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:CommercialRealEstateMember us-gaap:FairValueInputsLevel2Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:CommercialRealEstateMember us-gaap:FairValueInputsLevel3Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:CommercialRealEstateMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:ConstructionLoansMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:ConstructionLoansMember us-gaap:FairValueInputsLevel1Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:ConstructionLoansMember us-gaap:FairValueInputsLevel2Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:ConstructionLoansMember us-gaap:FairValueInputsLevel3Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:ConstructionLoansMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:SmallBusinessAdministrationLoansMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:SmallBusinessAdministrationLoansMember us-gaap:FairValueInputsLevel1Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:SmallBusinessAdministrationLoansMember us-gaap:FairValueInputsLevel2Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:SmallBusinessAdministrationLoansMember us-gaap:FairValueInputsLevel3Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:SmallBusinessAdministrationLoansMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:CarryingReportedAmountFairValueDisclosureMember cvbf:CommercialAndIndustrialLoansMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:CommercialAndIndustrialLoansMember us-gaap:FairValueInputsLevel1Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:CommercialAndIndustrialLoansMember us-gaap:FairValueInputsLevel2Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:CommercialAndIndustrialLoansMember us-gaap:FairValueInputsLevel3Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:CommercialAndIndustrialLoansMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember 2020-12-31 0000354647 us-gaap:CarryingReportedAmountFairValueDisclosureMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:DairyLivestockAndAgribusinessMember us-gaap:FairValueMeasurementsNonrecurringMember 2020-12-31 0000354647 cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:FairValueInputsLevel1Member cvbf:DairyLivestockAndAgribusinessMember us-gaap:FairValueMeasurementsNonrecurringMember 2020-12-31 0000354647 cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:DairyLivestockAndAgribusinessMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsNonrecurringMember 2020-12-31 0000354647 cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:DairyLivestockAndAgribusinessMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2020-12-31 0000354647 cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:DairyLivestockAndAgribusinessMember us-gaap:FairValueMeasurementsNonrecurringMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:ResidentialRealEstateMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:ResidentialRealEstateMember us-gaap:FairValueInputsLevel1Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:ResidentialRealEstateMember us-gaap:FairValueInputsLevel2Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:ResidentialRealEstateMember us-gaap:FairValueInputsLevel3Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:ResidentialRealEstateMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:ConsumerAndOtherLoansMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:ConsumerAndOtherLoansMember us-gaap:FairValueInputsLevel1Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:ConsumerAndOtherLoansMember us-gaap:FairValueInputsLevel2Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:ConsumerAndOtherLoansMember us-gaap:FairValueInputsLevel3Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:ConsumerAndOtherLoansMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:OtherRealEstateOwnedMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel1Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel2Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel3Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:OtherRealEstateOwnedMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember us-gaap:FairValueInputsLevel1Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember us-gaap:FairValueInputsLevel2Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember us-gaap:FairValueInputsLevel3Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel1Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel2Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel3Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:MuncipalLeaseFinanceReceivablesMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:MuncipalLeaseFinanceReceivablesMember us-gaap:FairValueInputsLevel1Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:MuncipalLeaseFinanceReceivablesMember us-gaap:FairValueInputsLevel2Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:MuncipalLeaseFinanceReceivablesMember us-gaap:FairValueInputsLevel3Member 2020-12-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:MuncipalLeaseFinanceReceivablesMember 2020-12-31 0000354647 us-gaap:OtherLiabilitiesMember us-gaap:InterestRateSwapMember us-gaap:NondesignatedMember 2020-12-31 0000354647 us-gaap:NondesignatedMember us-gaap:OtherLiabilitiesMember 2020-12-31 0000354647 us-gaap:NondesignatedMember us-gaap:InterestRateSwapMember 2020-12-31 0000354647 us-gaap:InterestRateSwapMember 2020-12-31 0000354647 us-gaap:MortgageBackedSecuritiesMember 2020-12-31 0000354647 us-gaap:CollateralizedMortgageObligationsMember 2020-12-31 0000354647 us-gaap:USStatesAndPoliticalSubdivisionsMember 2020-12-31 0000354647 us-gaap:RealEstateLoanMember 2020-12-31 0000354647 cvbf:CommercialTradeFinancingMember 2020-12-31 0000354647 cvbf:CommercialAndIndustrialMember 2020-12-31 0000354647 cvbf:DairyAndLivestockAndAgribusinessMember 2020-12-31 0000354647 cvbf:ConsumerMortgageMember 2020-12-31 0000354647 cvbf:ConsumerOtherMember 2020-12-31 0000354647 us-gaap:OtherDebtSecuritiesMember 2020-12-31 0000354647 us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember 2020-12-31 0000354647 us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2020-12-31 0000354647 cvbf:CommercialRealEstateLoansMember us-gaap:PassMember 2020-12-31 0000354647 cvbf:CommercialRealEstateLoansMember us-gaap:SpecialMentionMember 2020-12-31 0000354647 cvbf:CommercialRealEstateLoansMember us-gaap:SubstandardMember 2020-12-31 0000354647 cvbf:CommercialRealEstateLoansMember us-gaap:DoubtfulMember 2020-12-31 0000354647 us-gaap:ConstructionLoansMember 2020-12-31 0000354647 cvbf:CommercialTradeFinancingMember us-gaap:PassMember 2020-12-31 0000354647 cvbf:CommercialTradeFinancingMember us-gaap:SpecialMentionMember 2020-12-31 0000354647 cvbf:CommercialTradeFinancingMember us-gaap:SubstandardMember 2020-12-31 0000354647 cvbf:CommercialTradeFinancingMember us-gaap:DoubtfulMember 2020-12-31 0000354647 cvbf:PaycheckProtectionProgramMember us-gaap:PassMember 2020-12-31 0000354647 cvbf:PaycheckProtectionProgramMember us-gaap:SpecialMentionMember 2020-12-31 0000354647 cvbf:PaycheckProtectionProgramMember us-gaap:SubstandardMember 2020-12-31 0000354647 cvbf:PaycheckProtectionProgramMember us-gaap:DoubtfulMember 2020-12-31 0000354647 cvbf:CommercialAndIndustrialMember us-gaap:PassMember 2020-12-31 0000354647 cvbf:CommercialAndIndustrialMember us-gaap:SpecialMentionMember 2020-12-31 0000354647 cvbf:CommercialAndIndustrialMember us-gaap:SubstandardMember 2020-12-31 0000354647 cvbf:CommercialAndIndustrialMember us-gaap:DoubtfulMember 2020-12-31 0000354647 cvbf:CommercialRealEstateLoansMember 2020-12-31 0000354647 us-gaap:ConstructionLoansMember us-gaap:PassMember 2020-12-31 0000354647 us-gaap:ConstructionLoansMember us-gaap:SpecialMentionMember 2020-12-31 0000354647 us-gaap:ConstructionLoansMember us-gaap:SubstandardMember 2020-12-31 0000354647 us-gaap:ConstructionLoansMember us-gaap:DoubtfulMember 2020-12-31 0000354647 cvbf:DairyAndLivestockAndAgribusinessMember us-gaap:PassMember 2020-12-31 0000354647 cvbf:DairyAndLivestockAndAgribusinessMember us-gaap:SpecialMentionMember 2020-12-31 0000354647 us-gaap:SubstandardMember cvbf:DairyAndLivestockAndAgribusinessMember 2020-12-31 0000354647 us-gaap:DoubtfulMember cvbf:DairyAndLivestockAndAgribusinessMember 2020-12-31 0000354647 cvbf:MunicipalLeaseFinanceReceivablesMember us-gaap:PassMember 2020-12-31 0000354647 us-gaap:SpecialMentionMember cvbf:MunicipalLeaseFinanceReceivablesMember 2020-12-31 0000354647 us-gaap:SubstandardMember cvbf:MunicipalLeaseFinanceReceivablesMember 2020-12-31 0000354647 us-gaap:DoubtfulMember cvbf:MunicipalLeaseFinanceReceivablesMember 2020-12-31 0000354647 cvbf:ConsumerMortgageMember us-gaap:PassMember 2020-12-31 0000354647 cvbf:ConsumerMortgageMember us-gaap:SpecialMentionMember 2020-12-31 0000354647 cvbf:ConsumerMortgageMember us-gaap:SubstandardMember 2020-12-31 0000354647 cvbf:ConsumerMortgageMember us-gaap:DoubtfulMember 2020-12-31 0000354647 us-gaap:PassMember cvbf:ConsumerOtherMember 2020-12-31 0000354647 us-gaap:SpecialMentionMember cvbf:ConsumerOtherMember 2020-12-31 0000354647 us-gaap:SubstandardMember cvbf:ConsumerOtherMember 2020-12-31 0000354647 us-gaap:DoubtfulMember cvbf:ConsumerOtherMember 2020-12-31 0000354647 us-gaap:PassMember 2020-12-31 0000354647 us-gaap:SpecialMentionMember 2020-12-31 0000354647 us-gaap:SubstandardMember 2020-12-31 0000354647 us-gaap:DoubtfulMember 2020-12-31 0000354647 us-gaap:CommercialRealEstateMember 2020-12-31 0000354647 country:US 2021-03-31 0000354647 us-gaap:RealEstateLoanMember 2021-03-31 0000354647 us-gaap:ConstructionLoansMember 2021-03-31 0000354647 cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:SecuredByFarmLandMember us-gaap:RealEstateLoanMember 2021-03-31 0000354647 us-gaap:FinancingReceivables30To59DaysPastDueMember cvbf:CommercialRealEstateOwnerOccupiedMember 2021-03-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember cvbf:CommercialRealEstateOwnerOccupiedMember 2021-03-31 0000354647 cvbf:CommercialRealEstateOwnerOccupiedMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2021-03-31 0000354647 us-gaap:FinancingReceivables30To59DaysPastDueMember cvbf:CommercialRealEstateNonOwnerOccupiedMember 2021-03-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember cvbf:CommercialRealEstateNonOwnerOccupiedMember 2021-03-31 0000354647 cvbf:CommercialRealEstateNonOwnerOccupiedMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2021-03-31 0000354647 us-gaap:FinancingReceivables30To59DaysPastDueMember cvbf:ConstructionSpeculativeMember 2021-03-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember cvbf:ConstructionSpeculativeMember 2021-03-31 0000354647 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember cvbf:ConstructionSpeculativeMember 2021-03-31 0000354647 us-gaap:FinancingReceivables30To59DaysPastDueMember cvbf:ConstructionNonSpeculativeMember 2021-03-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember cvbf:ConstructionNonSpeculativeMember 2021-03-31 0000354647 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember cvbf:ConstructionNonSpeculativeMember 2021-03-31 0000354647 cvbf:SmallBusinessAdministrationLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2021-03-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember cvbf:SmallBusinessAdministrationLoansMember 2021-03-31 0000354647 cvbf:SmallBusinessAdministrationLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2021-03-31 0000354647 cvbf:PaycheckProtectionProgramMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2021-03-31 0000354647 cvbf:PaycheckProtectionProgramMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2021-03-31 0000354647 cvbf:PaycheckProtectionProgramMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2021-03-31 0000354647 cvbf:CommercialAndIndustrialLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2021-03-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember cvbf:CommercialAndIndustrialLoansMember 2021-03-31 0000354647 cvbf:CommercialAndIndustrialLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2021-03-31 0000354647 us-gaap:FinancingReceivables30To59DaysPastDueMember cvbf:DairyLivestockAndAgribusinessMember 2021-03-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember cvbf:DairyLivestockAndAgribusinessMember 2021-03-31 0000354647 cvbf:DairyLivestockAndAgribusinessMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2021-03-31 0000354647 us-gaap:FinancingReceivables30To59DaysPastDueMember cvbf:MunicipalLeaseFinanceReceivablesMember 2021-03-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember cvbf:MunicipalLeaseFinanceReceivablesMember 2021-03-31 0000354647 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember cvbf:MunicipalLeaseFinanceReceivablesMember 2021-03-31 0000354647 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ResidentialRealEstateMember 2021-03-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ResidentialRealEstateMember 2021-03-31 0000354647 us-gaap:ResidentialRealEstateMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2021-03-31 0000354647 cvbf:ConsumerAndOtherLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2021-03-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember cvbf:ConsumerAndOtherLoansMember 2021-03-31 0000354647 cvbf:ConsumerAndOtherLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2021-03-31 0000354647 us-gaap:FinancingReceivables30To59DaysPastDueMember 2021-03-31 0000354647 us-gaap:FinancingReceivables60To89DaysPastDueMember 2021-03-31 0000354647 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2021-03-31 0000354647 cvbf:CommercialRealEstateOwnerOccupiedMember 2021-03-31 0000354647 cvbf:CommercialRealEstateNonOwnerOccupiedMember 2021-03-31 0000354647 cvbf:SmallBusinessAdministrationLoansMember 2021-03-31 0000354647 cvbf:CommercialAndIndustrialLoansMember 2021-03-31 0000354647 cvbf:DairyLivestockAndAgribusinessMember 2021-03-31 0000354647 us-gaap:ResidentialRealEstateMember 2021-03-31 0000354647 cvbf:ConsumerAndOtherLoansMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2021-03-31 0000354647 us-gaap:ResidentialMortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member us-gaap:ResidentialMortgageBackedSecuritiesMember 2021-03-31 0000354647 us-gaap:FairValueInputsLevel3Member us-gaap:ResidentialMortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:CollateralizedMortgageObligationsMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:CollateralizedMortgageObligationsMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member us-gaap:CollateralizedMortgageObligationsMember 2021-03-31 0000354647 us-gaap:FairValueInputsLevel3Member us-gaap:CollateralizedMortgageObligationsMember us-gaap:FairValueMeasurementsRecurringMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:USStatesAndPoliticalSubdivisionsMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member us-gaap:USStatesAndPoliticalSubdivisionsMember 2021-03-31 0000354647 us-gaap:FairValueInputsLevel3Member us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueMeasurementsRecurringMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:OtherDebtSecuritiesMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:OtherDebtSecuritiesMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member us-gaap:OtherDebtSecuritiesMember 2021-03-31 0000354647 us-gaap:FairValueInputsLevel3Member us-gaap:OtherDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CarryingReportedAmountFairValueDisclosureMember cvbf:InvestmentSecuritiesMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member cvbf:InvestmentSecuritiesMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member cvbf:InvestmentSecuritiesMember 2021-03-31 0000354647 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember cvbf:InvestmentSecuritiesMember 2021-03-31 0000354647 cvbf:InterestRateSwapAgreementsWithCustomersMember 2021-03-31 0000354647 us-gaap:OtherAssetsMember us-gaap:NondesignatedMember us-gaap:InterestRateSwapMember 2021-03-31 0000354647 us-gaap:OtherAssetsMember us-gaap:NondesignatedMember 2021-03-31 0000354647 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2021-03-31 0000354647 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueInputsLevel1Member 2021-03-31 0000354647 us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2021-03-31 0000354647 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueInputsLevel3Member 2021-03-31 0000354647 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:InterestRateSwapMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:InterestRateSwapMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member us-gaap:InterestRateSwapMember 2021-03-31 0000354647 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:InterestRateSwapMember 2021-03-31 0000354647 cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:SecuredByFarmLandMember cvbf:SecuredByDairyAndLiveStockLandMember us-gaap:RealEstateLoanMember 2021-03-31 0000354647 cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:SecuredByFarmLandMember cvbf:SecuredByAgriculturalLandMember us-gaap:RealEstateLoanMember 2021-03-31 0000354647 cvbf:LoansExcludingPurchasedCreditImpairedLoansMember 2021-03-31 0000354647 cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:DairyAndLivestockLoansMember 2021-03-31 0000354647 cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:AgribusinessMember 2021-03-31 0000354647 cvbf:ConstructionSpeculativeMember 2021-03-31 0000354647 cvbf:ConstructionNonSpeculativeMember 2021-03-31 0000354647 cvbf:PaycheckProtectionProgramMember 2021-03-31 0000354647 cvbf:MunicipalLeaseFinanceReceivablesMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2021-03-31 0000354647 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2021-03-31 0000354647 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2021-03-31 0000354647 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:CommercialRealEstateMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:CommercialRealEstateMember us-gaap:FairValueInputsLevel1Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:CommercialRealEstateMember us-gaap:FairValueInputsLevel2Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:CommercialRealEstateMember us-gaap:FairValueInputsLevel3Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:CommercialRealEstateMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:ConstructionLoansMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:ConstructionLoansMember us-gaap:FairValueInputsLevel1Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:ConstructionLoansMember us-gaap:FairValueInputsLevel2Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:ConstructionLoansMember us-gaap:FairValueInputsLevel3Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:ConstructionLoansMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:SmallBusinessAdministrationLoansMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:SmallBusinessAdministrationLoansMember us-gaap:FairValueInputsLevel1Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:SmallBusinessAdministrationLoansMember us-gaap:FairValueInputsLevel2Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:SmallBusinessAdministrationLoansMember us-gaap:FairValueInputsLevel3Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:SmallBusinessAdministrationLoansMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:CarryingReportedAmountFairValueDisclosureMember cvbf:CommercialAndIndustrialLoansMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:CommercialAndIndustrialLoansMember us-gaap:FairValueInputsLevel1Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:CommercialAndIndustrialLoansMember us-gaap:FairValueInputsLevel2Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:CommercialAndIndustrialLoansMember us-gaap:FairValueInputsLevel3Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:CommercialAndIndustrialLoansMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:DairyLivestockAndAgribusinessMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:DairyLivestockAndAgribusinessMember us-gaap:FairValueInputsLevel1Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:DairyLivestockAndAgribusinessMember us-gaap:FairValueInputsLevel2Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:DairyLivestockAndAgribusinessMember us-gaap:FairValueInputsLevel3Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:DairyLivestockAndAgribusinessMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:ResidentialRealEstateMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:ResidentialRealEstateMember us-gaap:FairValueInputsLevel1Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:ResidentialRealEstateMember us-gaap:FairValueInputsLevel2Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:ResidentialRealEstateMember us-gaap:FairValueInputsLevel3Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:ResidentialRealEstateMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:ConsumerAndOtherLoansMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:ConsumerAndOtherLoansMember us-gaap:FairValueInputsLevel1Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:ConsumerAndOtherLoansMember us-gaap:FairValueInputsLevel2Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:ConsumerAndOtherLoansMember us-gaap:FairValueInputsLevel3Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:ConsumerAndOtherLoansMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:OtherRealEstateOwnedMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel1Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel2Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel3Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:OtherRealEstateOwnedMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember 2021-03-31 0000354647 cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:FairValueMeasurementsNonrecurringMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember us-gaap:FairValueInputsLevel1Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember us-gaap:FairValueInputsLevel2Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember us-gaap:FairValueInputsLevel3Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel1Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel2Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel3Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:MuncipalLeaseFinanceReceivablesMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:MuncipalLeaseFinanceReceivablesMember us-gaap:FairValueInputsLevel1Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:MuncipalLeaseFinanceReceivablesMember us-gaap:FairValueInputsLevel2Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:MuncipalLeaseFinanceReceivablesMember us-gaap:FairValueInputsLevel3Member 2021-03-31 0000354647 us-gaap:FairValueMeasurementsNonrecurringMember cvbf:LoansExcludingPurchasedCreditImpairedLoansMember cvbf:MuncipalLeaseFinanceReceivablesMember 2021-03-31 0000354647 us-gaap:OtherLiabilitiesMember us-gaap:NondesignatedMember us-gaap:InterestRateSwapMember 2021-03-31 0000354647 us-gaap:OtherLiabilitiesMember us-gaap:NondesignatedMember 2021-03-31 0000354647 us-gaap:NondesignatedMember us-gaap:InterestRateSwapMember 2021-03-31 0000354647 us-gaap:InterestRateSwapMember 2021-03-31 0000354647 us-gaap:MortgageBackedSecuritiesMember 2021-03-31 0000354647 us-gaap:CollateralizedMortgageObligationsMember 2021-03-31 0000354647 us-gaap:USStatesAndPoliticalSubdivisionsMember 2021-03-31 0000354647 cvbf:CommercialTradeFinancingMember 2021-03-31 0000354647 cvbf:CommercialAndIndustrialMember 2021-03-31 0000354647 cvbf:DairyAndLivestockAndAgribusinessMember 2021-03-31 0000354647 cvbf:ConsumerMortgageMember 2021-03-31 0000354647 cvbf:ConsumerOtherMember 2021-03-31 0000354647 us-gaap:OtherDebtSecuritiesMember 2021-03-31 0000354647 us-gaap:PerformingFinancingReceivableMember cvbf:CommercialAndIndustrialLoansMember 2021-03-31 0000354647 us-gaap:CommercialRealEstateMember us-gaap:PerformingFinancingReceivableMember 2021-03-31 0000354647 us-gaap:PerformingFinancingReceivableMember cvbf:SingleFamilyResidentialLoanMember 2021-03-31 0000354647 us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember 2021-03-31 0000354647 us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2021-03-31 0000354647 cvbf:CommercialRealEstateLoansMember us-gaap:PassMember 2021-03-31 0000354647 cvbf:CommercialRealEstateLoansMember us-gaap:SubstandardMember 2021-03-31 0000354647 cvbf:CommercialRealEstateLoansMember us-gaap:DoubtfulMember 2021-03-31 0000354647 cvbf:CommercialRealEstateLoansMember 2021-03-31 0000354647 us-gaap:ConstructionLoansMember us-gaap:PassMember 2021-03-31 0000354647 us-gaap:ConstructionLoansMember us-gaap:SubstandardMember 2021-03-31 0000354647 us-gaap:ConstructionLoansMember us-gaap:DoubtfulMember 2021-03-31 0000354647 cvbf:CommercialTradeFinancingMember us-gaap:PassMember 2021-03-31 0000354647 us-gaap:SubstandardMember cvbf:CommercialTradeFinancingMember 2021-03-31 0000354647 us-gaap:DoubtfulMember cvbf:CommercialTradeFinancingMember 2021-03-31 0000354647 cvbf:PaycheckProtectionProgramMember us-gaap:PassMember 2021-03-31 0000354647 cvbf:PaycheckProtectionProgramMember us-gaap:SubstandardMember 2021-03-31 0000354647 cvbf:PaycheckProtectionProgramMember us-gaap:DoubtfulMember 2021-03-31 0000354647 cvbf:CommercialAndIndustrialMember us-gaap:PassMember 2021-03-31 0000354647 cvbf:CommercialAndIndustrialMember us-gaap:SubstandardMember 2021-03-31 0000354647 cvbf:CommercialAndIndustrialMember us-gaap:DoubtfulMember 2021-03-31 0000354647 cvbf:CommercialRealEstateLoansMember us-gaap:SpecialMentionMember 2021-03-31 0000354647 us-gaap:ConstructionLoansMember us-gaap:SpecialMentionMember 2021-03-31 0000354647 cvbf:CommercialTradeFinancingMember us-gaap:SpecialMentionMember 2021-03-31 0000354647 cvbf:PaycheckProtectionProgramMember us-gaap:SpecialMentionMember 2021-03-31 0000354647 cvbf:CommercialAndIndustrialMember us-gaap:SpecialMentionMember 2021-03-31 0000354647 cvbf:DairyAndLivestockAndAgribusinessMember us-gaap:PassMember 2021-03-31 0000354647 cvbf:DairyAndLivestockAndAgribusinessMember us-gaap:SpecialMentionMember 2021-03-31 0000354647 us-gaap:SubstandardMember cvbf:DairyAndLivestockAndAgribusinessMember 2021-03-31 0000354647 us-gaap:DoubtfulMember cvbf:DairyAndLivestockAndAgribusinessMember 2021-03-31 0000354647 cvbf:MunicipalLeaseFinanceReceivablesMember us-gaap:PassMember 2021-03-31 0000354647 us-gaap:SpecialMentionMember cvbf:MunicipalLeaseFinanceReceivablesMember 2021-03-31 0000354647 us-gaap:SubstandardMember cvbf:MunicipalLeaseFinanceReceivablesMember 2021-03-31 0000354647 us-gaap:DoubtfulMember cvbf:MunicipalLeaseFinanceReceivablesMember 2021-03-31 0000354647 cvbf:ConsumerMortgageMember us-gaap:PassMember 2021-03-31 0000354647 cvbf:ConsumerMortgageMember us-gaap:SpecialMentionMember 2021-03-31 0000354647 cvbf:ConsumerMortgageMember us-gaap:SubstandardMember 2021-03-31 0000354647 cvbf:ConsumerMortgageMember us-gaap:DoubtfulMember 2021-03-31 0000354647 cvbf:ConsumerOtherMember us-gaap:PassMember 2021-03-31 0000354647 cvbf:ConsumerOtherMember us-gaap:SpecialMentionMember 2021-03-31 0000354647 cvbf:ConsumerOtherMember us-gaap:SubstandardMember 2021-03-31 0000354647 cvbf:ConsumerOtherMember us-gaap:DoubtfulMember 2021-03-31 0000354647 us-gaap:PassMember 2021-03-31 0000354647 us-gaap:SpecialMentionMember 2021-03-31 0000354647 us-gaap:SubstandardMember 2021-03-31 0000354647 us-gaap:DoubtfulMember 2021-03-31 0000354647 us-gaap:CommercialRealEstateMember 2021-03-31 0000354647 us-gaap:NondesignatedMember us-gaap:InterestRateSwapMember us-gaap:OtherIncomeMember 2020-01-01 2020-03-31 0000354647 us-gaap:NondesignatedMember 2020-01-01 2020-03-31 0000354647 us-gaap:AvailableforsaleSecuritiesMember 2020-01-01 2020-03-31 0000354647 us-gaap:HeldtomaturitySecuritiesMember 2020-01-01 2020-03-31 0000354647 cvbf:PerformingTroubledDebtRestructuringMember 2020-01-01 2020-03-31 0000354647 cvbf:NonPerformingTroubledDebtRestructuredLoansMember 2020-01-01 2020-03-31 0000354647 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2020-01-01 2020-03-31 0000354647 us-gaap:CommercialRealEstateMember 2020-01-01 2020-03-31 0000354647 us-gaap:ConstructionLoansMember 2020-01-01 2020-03-31 0000354647 cvbf:SmallBusinessAdministrationLoansMember 2020-01-01 2020-03-31 0000354647 cvbf:CommercialAndIndustrialLoansMember 2020-01-01 2020-03-31 0000354647 cvbf:DairyLivestockAndAgribusinessMember 2020-01-01 2020-03-31 0000354647 cvbf:MunicipalLeaseFinanceReceivablesMember 2020-01-01 2020-03-31 0000354647 us-gaap:ResidentialRealEstateMember 2020-01-01 2020-03-31 0000354647 cvbf:ConsumerAndOtherLoansMember 2020-01-01 2020-03-31 0000354647 us-gaap:RetainedEarningsMember 2020-01-01 2020-03-31 0000354647 us-gaap:DepositAccountMember 2020-01-01 2020-03-31 0000354647 us-gaap:FiduciaryAndTrustMember 2020-01-01 2020-03-31 0000354647 us-gaap:CreditCardMember 2020-01-01 2020-03-31 0000354647 us-gaap:DepositAccountMember us-gaap:AccountingStandardsUpdate201409Member 2020-01-01 2020-03-31 0000354647 us-gaap:FiduciaryAndTrustMember us-gaap:AccountingStandardsUpdate201409Member 2020-01-01 2020-03-31 0000354647 us-gaap:CreditCardMember us-gaap:AccountingStandardsUpdate201409Member 2020-01-01 2020-03-31 0000354647 us-gaap:AccountingStandardsUpdate201409Member 2020-01-01 2020-03-31 0000354647 cvbf:AccountingStandardsUpdate201409NotAdoptedMember 2020-01-01 2020-03-31 0000354647 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-03-31 0000354647 us-gaap:NondesignatedMember us-gaap:InterestRateSwapMember us-gaap:OtherIncomeMember 2021-01-01 2021-03-31 0000354647 us-gaap:NondesignatedMember 2021-01-01 2021-03-31 0000354647 us-gaap:AvailableforsaleSecuritiesMember 2021-01-01 2021-03-31 0000354647 us-gaap:HeldtomaturitySecuritiesMember 2021-01-01 2021-03-31 0000354647 cvbf:PerformingTroubledDebtRestructuringMember 2021-01-01 2021-03-31 0000354647 cvbf:NonPerformingTroubledDebtRestructuredLoansMember 2021-01-01 2021-03-31 0000354647 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2021-01-01 2021-03-31 0000354647 us-gaap:CommercialRealEstateMember 2021-01-01 2021-03-31 0000354647 us-gaap:ConstructionLoansMember 2021-01-01 2021-03-31 0000354647 cvbf:SmallBusinessAdministrationLoansMember 2021-01-01 2021-03-31 0000354647 cvbf:PaycheckProtectionProgramMember 2021-01-01 2021-03-31 0000354647 cvbf:CommercialAndIndustrialLoansMember 2021-01-01 2021-03-31 0000354647 cvbf:DairyLivestockAndAgribusinessMember 2021-01-01 2021-03-31 0000354647 cvbf:MunicipalLeaseFinanceReceivablesMember 2021-01-01 2021-03-31 0000354647 us-gaap:ResidentialRealEstateMember 2021-01-01 2021-03-31 0000354647 cvbf:ConsumerAndOtherLoansMember 2021-01-01 2021-03-31 0000354647 us-gaap:RetainedEarningsMember 2021-01-01 2021-03-31 0000354647 us-gaap:DepositAccountMember 2021-01-01 2021-03-31 0000354647 us-gaap:FiduciaryAndTrustMember 2021-01-01 2021-03-31 0000354647 us-gaap:CreditCardMember 2021-01-01 2021-03-31 0000354647 us-gaap:DepositAccountMember us-gaap:AccountingStandardsUpdate201409Member 2021-01-01 2021-03-31 0000354647 us-gaap:FiduciaryAndTrustMember us-gaap:AccountingStandardsUpdate201409Member 2021-01-01 2021-03-31 0000354647 us-gaap:CreditCardMember us-gaap:AccountingStandardsUpdate201409Member 2021-01-01 2021-03-31 0000354647 us-gaap:AccountingStandardsUpdate201409Member 2021-01-01 2021-03-31 0000354647 cvbf:AccountingStandardsUpdate201409NotAdoptedMember 2021-01-01 2021-03-31 0000354647 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-01-01 2021-03-31 0000354647 cvbf:GdpMember 2021-01-01 2021-03-31 0000354647 cvbf:DueToForecastOfSevereEconomicDowturnMember 2021-01-01 2021-03-31 0000354647 cvbf:CommercialRealEstateOwnerOccupiedMember us-gaap:ContractualInterestRateReductionMember 2021-01-01 2021-03-31 0000354647 cvbf:ChangeInAmortizationPeriodMember cvbf:CommercialRealEstateOwnerOccupiedMember 2021-01-01 2021-03-31 0000354647 us-gaap:ContractualInterestRateReductionMember cvbf:CommercialAndIndustrialLoansMember 2021-01-01 2021-03-31 0000354647 cvbf:ChangeInAmortizationPeriodMember cvbf:CommercialAndIndustrialLoansMember 2021-01-01 2021-03-31 0000354647 us-gaap:ContractualInterestRateReductionMember us-gaap:ResidentialRealEstateMember 2021-01-01 2021-03-31 0000354647 cvbf:ChangeInAmortizationPeriodMember us-gaap:ResidentialRealEstateMember 2021-01-01 2021-03-31 0000354647 cvbf:DueToForecastOfSevereEconomicDowturnMember us-gaap:SubsequentEventMember 2021-04-01 2021-05-06 0000354647 srt:ScenarioForecastMember 2022-01-01 2022-03-31 0000354647 srt:ScenarioForecastMember cvbf:GdpMember 2023-01-01 2023-03-31 0000354647 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2019-12-31 0000354647 us-gaap:RetainedEarningsMember 2019-12-31 0000354647 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0000354647 us-gaap:RetainedEarningsMember srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember 2019-12-31 0000354647 srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember 2019-12-31 0000354647 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember 2019-12-31 0000354647 us-gaap:AccumulatedOtherComprehensiveIncomeMember srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember 2019-12-31 0000354647 cvbf:PerformingTroubledDebtRestructuringMember 2019-12-31 0000354647 cvbf:NonPerformingTroubledDebtRestructuredLoansMember 2019-12-31 0000354647 cvbf:PerformingTroubledDebtRestructuringMember 2020-03-31 0000354647 cvbf:NonPerformingTroubledDebtRestructuredLoansMember 2020-03-31 0000354647 us-gaap:CommercialRealEstateMember srt:ScenarioPreviouslyReportedMember 2019-12-31 0000354647 us-gaap:ConstructionLoansMember srt:ScenarioPreviouslyReportedMember 2019-12-31 0000354647 cvbf:SmallBusinessAdministrationLoansMember srt:ScenarioPreviouslyReportedMember 2019-12-31 0000354647 cvbf:CommercialAndIndustrialLoansMember srt:ScenarioPreviouslyReportedMember 2019-12-31 0000354647 cvbf:DairyLivestockAndAgribusinessMember srt:ScenarioPreviouslyReportedMember 2019-12-31 0000354647 cvbf:MunicipalLeaseFinanceReceivablesMember srt:ScenarioPreviouslyReportedMember 2019-12-31 0000354647 us-gaap:ResidentialRealEstateMember srt:ScenarioPreviouslyReportedMember 2019-12-31 0000354647 cvbf:ConsumerAndOtherLoansMember srt:ScenarioPreviouslyReportedMember 2019-12-31 0000354647 srt:ScenarioPreviouslyReportedMember 2019-12-31 0000354647 us-gaap:AccountingStandardsUpdate201613Member us-gaap:CommercialRealEstateMember 2019-12-31 0000354647 us-gaap:AccountingStandardsUpdate201613Member us-gaap:ConstructionLoansMember 2019-12-31 0000354647 us-gaap:AccountingStandardsUpdate201613Member cvbf:SmallBusinessAdministrationLoansMember 2019-12-31 0000354647 us-gaap:AccountingStandardsUpdate201613Member cvbf:CommercialAndIndustrialLoansMember 2019-12-31 0000354647 us-gaap:AccountingStandardsUpdate201613Member cvbf:DairyLivestockAndAgribusinessMember 2019-12-31 0000354647 us-gaap:AccountingStandardsUpdate201613Member cvbf:MunicipalLeaseFinanceReceivablesMember 2019-12-31 0000354647 us-gaap:AccountingStandardsUpdate201613Member us-gaap:ResidentialRealEstateMember 2019-12-31 0000354647 us-gaap:AccountingStandardsUpdate201613Member cvbf:ConsumerAndOtherLoansMember 2019-12-31 0000354647 us-gaap:AccountingStandardsUpdate201613Member 2019-12-31 0000354647 us-gaap:CommercialRealEstateMember 2020-03-31 0000354647 us-gaap:ConstructionLoansMember 2020-03-31 0000354647 cvbf:SmallBusinessAdministrationLoansMember 2020-03-31 0000354647 cvbf:CommercialAndIndustrialLoansMember 2020-03-31 0000354647 cvbf:DairyLivestockAndAgribusinessMember 2020-03-31 0000354647 cvbf:MunicipalLeaseFinanceReceivablesMember 2020-03-31 0000354647 us-gaap:ResidentialRealEstateMember 2020-03-31 0000354647 cvbf:ConsumerAndOtherLoansMember 2020-03-31 0000354647 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2020-03-31 0000354647 us-gaap:RetainedEarningsMember 2020-03-31 0000354647 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-03-31 0000354647 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2020-12-31 0000354647 us-gaap:RetainedEarningsMember 2020-12-31 0000354647 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-12-31 0000354647 cvbf:PerformingTroubledDebtRestructuringMember 2020-12-31 0000354647 cvbf:NonPerformingTroubledDebtRestructuredLoansMember 2020-12-31 0000354647 cvbf:PerformingTroubledDebtRestructuringMember 2021-03-31 0000354647 cvbf:NonPerformingTroubledDebtRestructuredLoansMember 2021-03-31 0000354647 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2021-03-31 0000354647 us-gaap:RetainedEarningsMember 2021-03-31 0000354647 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-03-31 iso4217:USD xbrli:pure xbrli:shares utr:Year iso4217:USD xbrli:shares cvbf:Subsidiary cvbf:Agreement cvbf:Location cvbf:Collateral cvbf:Loan cvbf:Contract
Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM
10-Q
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2021
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____ to _____
Commission File Number:
000-10140
CVB FINANCIAL CORP.
(Exact name of registrant as specified in its charter)
 
California
 
95-3629339
(State or other jurisdiction of
Incorporation or organization)
  (I.R.S. Employer Identification No.)
   
701 North Haven Ave., Suite 350
   
Ontario, California
 
91764
(Address of principal executive offices)   (Zip Code)
(909)
980-4030
(Registrant’s telephone number,
including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
  
Trading Symbol(s)
  
Name of each exchange on which registered
Common Stock, No Par Value
  
CVBF
  
The Nasdaq Stock Market, LLC
Indicate by check mark whether the registrant (1)
 
has filed all reports required to be filed by section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes
☒    No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation
S-T
(§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒    No ☐
Indicate by check mark whether the registrant is a large accelerated filer, accelerated filer,
non-accelerated
filer or smaller reporting company, or emerging growth company. See definition of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule
12b-2
of the Exchange Act. (Check one):
 
Large accelerated filer          Accelerated filer   
Non-accelerated filer
         Smaller reporting company       
Emerging growth company                  
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule
12b-2
of the Exchange Act).
Yes ☐ No
Number of shares of common stock of the registrant: 135,918,972 outstanding as
of April 30, 2021.

Table of Contents
TABLE OF CONTENTS
 
PART I –
  
  
 
3
 
     
ITEM 1.
  
  
 
5
 
     
 
  
  
 
10
 
     
ITEM 2.
  
  
 
36
 
     
 
  
  
 
37
 
     
 
  
  
 
38
 
     
 
  
  
 
40
 
     
 
  
  
 
47
 
     
 
  
  
 
60
 
     
ITEM 3.
  
  
 
63
 
     
ITEM 4.
  
  
 
63
 
     
PART II –
  
  
 
64
 
     
ITEM 1.
  
  
 
64
 
     
ITEM 1A.
  
  
 
65
 
     
ITEM 2.
  
  
 
66
 
     
ITEM 3.
  
  
 
66
 
     
ITEM 4.
  
  
 
66
 
     
ITEM 5.
  
  
 
66
 
     
ITEM 6.
  
  
 
67
 
     
  
 
  
 
68
 
 
2

Table of Contents
PART I – FINANCIAL INFORMATION (UNAUDITED)
GENERAL
Cautionary Note Regarding Forward-Looking Statements
Certain matters set forth herein (including the exhibits hereto) constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including forward-looking statements relating to the Company’s current business plans and expectations and our future financial position and operating results. Words such as “will likely result”, “aims”, “anticipates”, “believes”, “could”, “estimates”, “expects”, “hopes”, “intends”, “may”, “plans”, “projects”, “seeks”, “should”, “will”, “strategy”, “possibility”, and variations of these words and similar expressions help to identify these forward-looking statements, which involve risks and uncertainties. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to the following:
 
 
 
local, regional, national and international economic and market conditions and political events and public health developments and the impact they may have on us, our customers and our assets and liabilities;
 
 
our ability to attract deposits and other sources of funding or liquidity;
 
 
supply and demand for commercial or residential real estate and periodic deterioration in real estate prices and/or values in California or other states where we lend;
 
 
a sharp or prolonged slowdown or decline in real estate construction, sales or leasing activities;
 
 
changes in the financial performance and/or condition of our borrowers, depositors, key vendors or counterparties;
 
 
changes in our levels of delinquent loans, nonperforming assets, allowance for credit losses and charge-offs;
 
 
the costs or effects of mergers, acquisitions or dispositions we may make, whether we are able to obtain any required governmental approvals in connection with any such mergers, acquisitions or dispositions, and/or our ability to realize the contemplated financial or business benefits or cost savings associated with any such mergers, acquisitions or dispositions;
 
 
the effects of new laws, regulations and/or government programs, including those laws, regulations and programs enacted by federal, state or local governments in the geographic jurisdictions in which we do business in response to the recent national emergency declared in connection with the
COVID-19
pandemic;
 
 
the impact of the federal CARES Act and the significant additional lending activities undertaken by the Company in connection with the Small Business Administration’s Paycheck Protection Program enacted thereunder, including risks to the Company with respect to the uncertain application by the Small Business Administration of new borrower and loan eligibility, forgiveness and audit criteria;
 
 
the effects of the Company’s participation in one or more of the new lending programs recently established by the Federal Reserve, including the Main Street New Loan Facility, the Main Street Priority Loan Facility and the Nonprofit Organization New Loan Facility, and the impact of any related actions or decisions by the Federal Reserve Bank of Boston and its special purpose vehicle established pursuant to such lending programs;
 
 
the effect of changes in other pertinent laws, regulations and applicable judicial decisions (including laws, regulations and judicial decisions concerning financial reforms, taxes, bank capital levels, allowance for credit losses, consumer, commercial or secured lending, securities and securities trading and hedging, bank operations, compliance, fair lending, the Community Reinvestment Act, employment, executive compensation, insurance, cybersecurity, vendor management and information security technology) with which we and our subsidiaries must comply or believe we should comply or which may otherwise impact us;
 
 
changes in estimates of future reserve requirements and minimum capital requirements based upon the periodic review thereof under relevant regulatory and accounting standards, including changes in the Basel Committee framework establishing capital standards for bank credit, operations and market risks;
 
 
the accuracy of the assumptions and estimates and the absence of technical error in implementation or calibration of models used to estimate the fair value of financial instruments or currently expected credit losses or delinquencies;
 
 
the sensitivity of our assets and liabilities to changes in market interest rates, or our current allowance for credit losses;
 
 
inflation, changes in market interest rates, securities market and monetary fluctuations;
 
 
changes in government-established interest rates, reference rates or monetary policies, including the possible imposition of negative interest rates on bank reserves;
 
 
the impact of the anticipated
phase-out
of the London Interbank Offered Rate (LIBOR) on interest rate indexes specified in certain of our customer loan agreements and our interest rate swap arrangements, including any economic and compliance effects related to the expected change from LIBOR to an alternative reference rate;
 
 
changes in the amount, cost and availability of deposit insurance;
 
3

Table of Contents
 
 
disruptions in the infrastructure that supports our business and the communities where we are located, which are concentrated in California, involving or related to public health, physical site access and/or communication facilities;
 
 
cyber incidents, attacks, infiltrations, exfiltrations, or theft or loss of Company or customer or employee data or money;
 
 
political developments, uncertainties or instability, catastrophic events, acts of war or terrorism, or natural disasters, such as earthquakes, drought, the effects of pandemic diseases, climate changes or extreme weather events, that may affect electrical, environmental, computer servers, and communications or other services, computer services or facilities we use, or that may affect our customers, employees or third parties with whom we conduct business;
 
 
our timely development and implementation of new banking products and services and the perceived overall value of these products and services by our customers and potential customers;
 
 
the Company’s relationships with and reliance upon outside vendors with respect to certain of the Company’s key internal and external systems, applications and controls;
 
 
changes in commercial or consumer spending, borrowing and savings patterns, preferences or behaviors;
 
 
technological changes and the expanding use of technology in banking and financial services (including the adoption of mobile banking, funds transfer applications, electronic marketplaces for loans, blockchain technology and other financial products, systems or services);
 
 
our ability to retain and increase market share, retain and grow customers and control expenses;
 
 
changes in the competitive environment among banks and other financial services and technology providers;
 
 
competition and innovation with respect to financial products and services by banks, financial institutions and
non-traditional
providers including retail businesses and technology companies;
 
 
volatility in the credit and equity markets and its effect on the general economy or local or regional business conditions or on the Company’s capital, deposits, assets, or customers;
 
 
fluctuations in the price of the Company’s common stock or other securities, and the resulting impact on the Company’s ability to raise capital or make acquisitions;
 
 
the effect of changes in accounting policies and practices, as may be adopted from
time-to-time
by the principal regulatory agencies with jurisdiction over the Company, as well as by the Public Company Accounting Oversight Board, the Financial Accounting Standards Board and other accounting standard-setters;
 
 
changes in our organization, management, compensation and benefit plans, and our ability to recruit and retain or expand our workforce, management team, key executive positions and/or our board of directors;
 
 
our ability to identify suitable and qualified replacements for any of our executive officers who may leave their employment with us, including our Chief Executive Officer;
 
 
the costs and effects of legal, compliance and regulatory actions, changes and developments, including the initiation and resolution of legal proceedings (including any securities, lender liability, bank operations, financial product or service, data privacy, consumer or employee class action litigation);
 
 
regulatory or other governmental inquiries or investigations, and/or the results of regulatory examinations or reviews;
 
 
our ongoing relations with our various federal and state regulators, including the SEC, Federal Reserve Board, FDIC and California DFPI;
 
 
our success at managing the risks involved in the foregoing items and all other factors set forth in the Company’s public reports, including its Annual Report on Form
10-K
for the year ended December 31, 2020, and particularly the discussion of risk factors within that document.
Among other risks, the ongoing COVID-19 pandemic may significantly affect the banking industry, the health and safety of the Company’s employees, and the Company’s business prospects. The ultimate impact of the
COVID-19
pandemic on our business and financial results will depend on future developments, which are highly uncertain and cannot be predicted, including the scope and duration of the pandemic, the impact on the economy, our customers, our employees and our business partners, the safety, effectiveness, distribution and acceptance of vaccines developed to mitigate the pandemic, and actions taken by governmental authorities in response to the pandemic.
The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements, except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company’s earnings or shareholders, are for illustrative purposes only, are not forecasts, and actual results may differ.
 
4

Table of Contents
ITEM 1.
    CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
CVB FINANCIAL CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except share amounts)
(Unaudited)
 
    
      March 31,      
2021
 
  December 31,  
2020
Assets
                
Cash and due from banks
     $ 139,713       $ 122,305  
Interest-earning balances due from Federal Reserve
     1,385,586       1,835,855  
    
 
 
 
 
 
 
 
Total cash and cash equivalents
     1,525,299       1,958,160  
    
 
 
 
 
 
 
 
Interest-earning balances due from depository institutions
     27,748       43,563  
Investment securities
available-for-sale,
at fair value (with amortized cost of
$2,797,990 at March 31, 2021, and $2,344,174 at December 31, 2020)
     2,812,348       2,398,923  
Investment securities
held-to-maturity
(with fair value of $1,085,481 at March 31,
2021, and $604,223 at December 31, 2020)
     1,086,984       578,626  
    
 
 
 
 
 
 
 
Total investment securities
     3,899,332       2,977,549  
    
 
 
 
 
 
 
 
Investment in stock of Federal Home Loan Bank (FHLB)
     17,688       17,688  
Loans and lease finance receivables
     8,293,057       8,348,808  
Allowance for credit losses
     (71,805     (93,692
    
 
 
 
 
 
 
 
Net loans and lease finance receivables
     8,221,252       8,255,116  
    
 
 
 
 
 
 
 
Premises and equipment, net
     49,735       51,144  
Bank owned life insurance (BOLI)
     223,905       226,818  
Accrued interest receivable
     34,825       31,306  
Intangibles
     31,467       33,634  
Goodwill
     663,707       663,707  
Other real estate owned (OREO)
     1,575       3,392  
Income taxes
     15,372       29,540  
Other assets
     128,533       127,697  
    
 
 
 
 
 
 
 
Total assets
     $ 14,840,438       $ 14,419,314  
    
 
 
 
 
 
 
 
     
Liabilities and Stockholders’ Equity
                
Liabilities:
                
Deposits:
                
Noninterest-bearing
     $ 7,577,839       $ 7,455,387  
Interest-bearing
     4,500,816       4,281,114  
    
 
 
 
 
 
 
 
Total deposits
     12,078,655       11,736,501  
Customer repurchase agreements
     506,346       439,406  
Other borrowings
     5,000       5,000  
Deferred compensation
     22,023       21,611  
Junior subordinated debentures
     25,774       25,774  
Payable for securities purchased
     80,973       60,113  
Other liabilities
     101,001       122,919  
    
 
 
 
 
 
 
 
Total liabilities
     12,819,772       12,411,324  
    
 
 
 
 
 
 
 
     
Commitments and Contingencies
                
Stockholders’ Equity
                
Common stock, authorized, 225,000,000 shares without par; issued and outstanding 135,919,625 at March 31, 2021, and 135,600,501 at December 31, 2020
     1,213,451       1,211,780  
Retained earnings
     800,259       760,861  
Accumulated other comprehensive income, net of tax
     6,956       35,349  
    
 
 
 
 
 
 
 
Total stockholders’ equity
     2,020,666       2,007,990  
    
 
 
 
 
 
 
 
Total liabilities and stockholders’ equity
     $ 14,840,438       $ 14,419,314  
    
 
 
 
 
 
 
 
See accompanying notes to the unaudited condensed consolidated financial statements.
 
5

Table of Contents
CVB FINANCIAL CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME
(Dollars in thousands, except per share amounts)
(Unaudited)
 
    
    Three Months Ended    
March 31,
    
2021
 
2020
Interest income:
                
Loans and leases, including fees
     $ 91,795       $ 92,117  
Investment securities:
                
Investment securities
available-for-sale
     9,159       10,049  
Investment securities
held-to-maturity
     3,940       3,998  
    
 
 
 
 
 
 
 
Total investment income
     13,099       14,047  
    
 
 
 
 
 
 
 
Dividends from FHLB stock
     217       332  
Interest-earning deposits with other institutions
     413       613  
    
 
 
 
 
 
 
 
Total interest income
     105,524       107,109  
    
 
 
 
 
 
 
 
Interest expense:
                
Deposits
     1,812       4,124  
Borrowings and customer repurchase agreements
     141       479  
Junior subordinated debentures
     103       200  
    
 
 
 
 
 
 
 
Total interest expense
     2,056       4,803  
    
 
 
 
 
 
 
 
Net interest income before (recapture of) provision for credit losses
     103,468       102,306  
(Recapture of) provision for credit losses
     (19,500     12,000  
    
 
 
 
 
 
 
 
Net interest income after (recapture of) provision for credit losses
     122,968       90,306  
    
 
 
 
 
 
 
 
Noninterest income:
                
Service charges on deposit accounts
     3,985       4,776  
Trust and investment services
     2,611       2,420  
Bankcard services
     350       577  
BOLI income
     4,624       2,059  
Gain on OREO, net
     429       10  
Other
     1,682       1,798  
    
 
 
 
 
 
 
 
Total noninterest income
     13,681       11,640  
    
 
 
 
 
 
 
 
Noninterest expense:
                
Salaries and employee benefits
     29,706       30,877  
Occupancy and equipment
     4,863       4,837  
Professional services
     2,168       2,256  
Computer software expense
     2,844       2,816  
Marketing and promotion
     725       1,555  
Amortization of intangible assets
     2,167       2,445  
Other
     4,690       3,855  
    
 
 
 
 
 
 
 
Total noninterest expense
     47,163       48,641  
    
 
 
 
 
 
 
 
Earnings before income taxes
     89,486       53,305  
Income taxes
     25,593       15,325  
    
 
 
 
 
 
 
 
Net earnings
     $ 63,893       $ 37,980  
    
 
 
 
 
 
 
 
     
Other comprehensive (loss) income:
                
Unrealized (loss) gain on securities arising during the period, before tax
     $ (40,310     $ 36,618  
Less: Income tax benefit (expense) related to items of other comprehensive income
     11,917       (10,826
    
 
 
 
 
 
 
 
Other comprehensive (loss) income, net of tax
     (28,393     25,792  
    
 
 
 
 
 
 
 
Comprehensive income
     $ 35,500       $ 63,772  
    
 
 
 
 
 
 
 
     
Basic earnings per common share
     $ 0.47       $ 0.27  
Diluted earnings per common share
     $ 0.47       $ 0.27  
See accompanying notes to the unaudited condensed consolidated financial statements.
 
6

Table of Contents
CVB FINANCIAL CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
Three Months Ended March 31, 2021 and 2020
(Dollars and shares in thousands)
(Unaudited)
 
   
Common
Shares
Outstanding
 
Common
Stock
 
Retained
Earnings
 
Accumulated
Other
Comprehensive
Income (Loss)
 
Total
Balance, January 1, 2021
    135,601       $ 1,211,780       $ 760,861       $ 35,349       $ 2,007,990  
Repurchase of common stock
    (22     (502     -       -       (502
Exercise of stock options
    40       891       -       -       891  
Shares issued pursuant to stock-based compensation plan
    301       1,282       -       -       1,282  
Cash dividends declared on common stock ($0.18 per share)
    -       -       (24,495     -       (24,495
Net earnings
    -       -       63,893       -       63,893  
Other comprehensive loss
    -       -       -       (28,393     (28,393
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance, March 31, 2021
    135,920       $ 1,213,451       $ 800,259       $ 6,956       $ 2,020,666  
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
           
Balance, January 1, 2020
    140,102       $ 1,298,792       $ 682,692       $ 12,614       $ 1,994,098  
Cumulative adjustment upon adoption of ASU
2016-13
    -       -       (1,325     -       (1,325
Repurchase of common stock
    (4,988     (92,402     -       -       (92,402
Exercise of stock options
    4       42       -       -       42  
Shares issued pursuant to stock-based compensation plan
    393       1,617       -       -       1,617  
Cash dividends declared on common stock ($0.18 per share)
    -       -       (24,416     -       (24,416
Net earnings
    -       -       37,980       -       37,980  
Other comprehensive income
    -       -       -       25,792       25,792  
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance, March 31, 2020
    135,511       $ 1,208,049       $ 694,931       $ 38,406       $ 1,941,386  
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
See accompanying notes to the unaudited condensed consolidated financial statements.
 
7

Table of Contents
CVB FINANCIAL CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in thousands)
(Unaudited)
 
    
    Three Months Ended    
March 31,
    
2021
 
2020
Cash Flows from Operating Activities
                
Interest and dividends received
     $ 95,475       $ 105,673  
Service charges and other fees received
     8,636       9,644  
Interest paid
     (1,859     (4,589
Net cash paid to vendors, employees and others
     (56,221     (35,201
Income taxes
     907       -  
    
 
 
 
 
 
 
 
Net cash provided by operating activities
     46,938       75,527  
    
 
 
 
 
 
 
 
Cash Flows from Investing Activities
                
Net change in interest-earning balances from depository institutions
     15,815       (20,868
Proceeds from repayment of investment securities
available-for-sale
     224,104       92,519  
Proceeds from maturity of investment securities
available-for-sale
     -       2,390  
Purchases of investment securities
available-for-sale
     (661,857     -  
Proceeds from repayment and maturity of investment securities
held-to-maturity
     35,766       33,297  
Purchases of investment securities
held-to-maturity
     (545,681     (1,509
Net increase in equity investments
     (4,961     (2,985
Net decrease in loan and lease finance receivables
     64,167       103,890  
Proceeds from sale of building, net of selling costs
     1,157       -  
Purchase of premises and equipment
     (662     (882
Proceeds from BOLI death benefit
     5,062       138  
Proceeds from sales of other real estate owned
     2,216       -  
    
 
 
 
 
 
 
 
Net cash (used in) provided by investing activities
     (864,874     205,990  
    
 
 
 
 
 
 
 
Cash Flows from Financing Activities
                
Net increase in other deposits
     336,518       403,546  
Net increase in time deposits
     5,636       5,130  
Net increase (decrease) in customer repurchase agreements
     66,940       (59,744
Cash dividends on common stock
     (24,408     (25,252
Repurchase of common stock
     (502     (85,018
Proceeds from exercise of stock options
     891       42  
    
 
 
 
 
 
 
 
Net cash provided by financing activities
     385,075       238,704  
    
 
 
 
 
 
 
 
Net (decrease) increase in cash and cash equivalents
     (432,861     520,221  
     
Cash and cash equivalents, beginning of period
     1,958,160       185,518  
    
 
 
 
 
 
 
 
Cash and cash equivalents, end of period
     $ 1,525,299       $ 705,739  
    
 
 
 
 
 
 
 
See accompanying notes to the unaudited condensed consolidated financial statements.
 
8

Table of Contents
CVB FINANCIAL CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
(Dollars in thousands)
(Unaudited)
 
    
    Three Months Ended    
March 31,
    
2021
 
2020
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities
                
   Net earnings
     $ 63,893       $ 37,980  
     
   Adjustments to reconcile net earnings to net cash provided by operating activities:
                
     
  Gain on sale of building, net
     (189     -  
  Gain on sale of other real estate owned
     (399     -  
  Increase in BOLI
     (4,624     (1,344
  Net amortization of premiums and discounts on investment securities
     6,411       2,620  
  Accretion of discount for acquired loans, net
     (4,028     (4,776
  (Recapture of) provision for credit losses
     (19,500     12,000  
  Stock-based compensation
     1,282       1,617  
  Depreciation and amortization, net
     (3,526     5,176  
  Change in other assets and liabilities
     7,618       22,254  
    
 
 
 
 
 
 
 
     Total adjustments
     (16,955     37,547  
    
 
 
 
 
 
 
 
    Net cash provided by operating activities
     $ 46,938       $ 75,527  
    
 
 
 
 
 
 
 
     
Supplemental Disclosure of
Non-cash
Investing Activities
                
   Securities purchased and not settled
     $ 80,973       $ -  
See accompanying notes to the unaudited condensed consolidated financial statements.
 
9

Table of Contents
CVB FINANCIAL CORP. AND SUBSIDIARIES
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
 
1.
BUSINESS
The condensed consolidated financial statements include CVB Financial Corp. (referred to herein on an unconsolidated basis as “CVB” and on a consolidated basis
 
as “we”, “our” or the “Company”)
and its wholly owned subsidiary: Citizens Business Bank (the “Bank” or “CBB”), after elimination of all intercompany transactions and balances. The Company has one inactive subsidiary, Chino Valley Bancorp. The Company is also the common stockholder of CVB Statutory Trust III. CVB Statutory Trust III was created in January 2006 to issue trust preferred securities in order to raise capital for the Company. In accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 810, Consolidation, this trust does not meet the criteria for consolidation.
The Company’s primary operations are related to traditional banking activities. This includes the acceptance of deposits and the lending and investing of money through the operations of the Bank. The Bank also provides trust and investment-related services to customers through its CitizensTrust Division. The Bank’s customers consist primarily of small to
mid-sized
businesses and individuals 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. The Bank operates 57 banking centers, one loan production office in Modesto, California and three trust office locations. The Company is head quartered in the city of Ontario, California.
 
2.
BASIS OF PRESENTATION
The accompanying unaudited condensed consolidated financial statements and notes thereto have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) for Form
10-Q
and conform to practices within the banking industry and include all of the information and disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting. The accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments), which are necessary for a fair presentation of financial results for the interim periods presented. The results of operations for the three months ended March 31, 2021 are not necessarily indicative of the results for the full year. Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements, accounting policies and financial notes thereto included in the Company’s Annual Report on Form
10-K
for the fiscal year ended December 31, 2020, filed with the SEC. A summary of the significant accounting policies consistently applied in the preparation of the accompanying unaudited condensed consolidated financial statements follows.
Reclassification
— Certain amounts in the prior periods’ unaudited condensed consolidated financial statements and related footnote disclosures have been reclassified to conform to the current presentation with no impact on previously reported net income or stockholders’ equity.
 
3.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Except as discussed below, our accounting policies are described in Note 3 –
Summary of Significant Accounting Policies
, of our audited consolidated financial statements included in our Annual Report on Form
10-K
for the year ended December 31, 2020 as filed with the SEC (“Form
10-K”).
Use of Estimates in the Preparation of Financial Statements
— The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. A material estimate that is particularly susceptible to significant change in the near term relates to the determination of the allowance for credit losses. Other significant estimates, which may be subject to change, include fair value determinations and disclosures, impairment of investments, goodwill, loans, as well as valuation of deferred tax assets.
 
10

Table of Contents
4.
INVESTMENT SECURITIES
The amortized cost and estimated fair value of investment securities are summarized below. The majority of securities held are
available-for-sale
securities with fair value based on quoted prices for similar assets in active markets or quoted prices for identical assets in markets that are not active. Estimated fair values were obtained from an independent pricing service based upon market quotes.
 
   
March 31, 2021
   
   Amortized   

Cost
 
Gross

   Unrealized   

Holding

Gain
 
 
Gross
   Unrealized   

Holding

Loss
 
   Fair Value   
 
  Total Percent  
   
(Dollars in thousands)
Investment securities
available-for-sale:
                                       
Mortgage-backed securities
    $ 2,175,414       $ 38,333       $ (22,409)       $ 2,191,338       77.92%  
CMO/REMIC
    592,915       4,072       (6,821)       590,166       20.99%  
Municipal bonds
    28,703       1,183             29,886       1.06%  
Other securities
    958       -             958       0.03%  
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
available-for-sale
securities
    $ 2,797,990       $ 43,588       $ (29,230)       $ 2,812,348       100.00%  
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment securities
held-to-maturity:
                                       
Government agency/GSE
    $ 601,142       $ 3,860       $ (16,289     $ 588,713       55.30%  
Mortgage-backed securities
    135,137       5,348       (255     140,230       12.43%  
CMO/REMIC
    133,556       2,832             136,388       12.29%  
Municipal bonds
    217,149       5,095       (2,094)       220,150       19.98%  
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
held-to-maturity
securities
    $ 1,086,984       $ 17,135       $ (18,638)       $ 1,085,481       100.00%  
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   
December 31, 2020
   
   Amortized   

Cost
 
Gross

   Unrealized   

Holding

Gain
 
 
Gross
   Unrealized   

Holding

Loss
 
   Fair Value   
 
  Total Percent  
   
(Dollars in thousands)
Investment securities
available-for-sale:
                                       
Mortgage-backed securities
    $ 1,857,030       $ 48,006       $ (101)       $ 1,904,935       79.41%  
CMO/REMIC
    457,548       5,515       (249)       462,814       19.29%  
Municipal bonds
    28,707       1,578       -        30,285       1.26%  
Other securities
    889       -             889       0.04%  
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
available-for-sale
securities
    $ 2,344,174       $ 55,099       $ (350)       $ 2,398,923       100.00%  
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment securities
held-to-maturity:
                                       
Government agency/GSE
    $ 98,663       $ 5,877       $ -        $ 104,540       17.05%  
Mortgage-backed securities
    146,382       7,644       (32)       153,994       25.30%  
CMO/REMIC
    145,309       5,202       -        150,511       25.11%  
Municipal bonds
    188,272       6,980       (74)       195,178       32.54%  
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
held-to-maturity
securities
    $ 578,626       $ 25,703       $ (106)       $ 604,223       100.00%  
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

Table of Contents
The following table provides information about the amount of interest income earned on investment securities which is fully taxable and which is exempt from regular federal income tax.
 
    
    Three Months Ended    
 
    
March 31,
 
    
         2021         
    
         2020         
 
    
 
(Dollars in thousands)
 
Investment securities
available-for-sale:
                 
Taxable
     $ 8,968        $ 9,825  
Tax-advantaged
     191        224  
    
 
 
    
 
 
 
Total interest income from
available-for-sale
securities
     9,159        10,049  
    
 
 
    
 
 
 
Investment securities
held-to-maturity:
                 
Taxable
     2,811        2,698  
Tax-advantaged
     1,129        1,300  
    
 
 
    
 
 
 
Total interest income from
held-to-maturity
securities
     3,940        3,998  
    
 
 
    
 
 
 
Total interest income from investment securities
     $ 13,099        $ 14,047  
    
 
 
    
 
 
 
The adoption of CECL did not have a material impact on the accounting for investment securities, as approximately 94% of the total investment securities portfolio at March 31, 2021 represents securities issued by the U.S. government or U.S. government-sponsored enterprises, with the implied guarantee of payment of principal and interest. The remaining securities are predominately
AA-
or better general-obligation municipal bonds. The allowance for credit losses for
held-to-maturity
investment securities under the new CECL model was zero at March 31, 2021 and December 31, 2020.
We adopted ASU
2016-13
on January 1, 2020, on a prospective basis. Under this ASU, once it is determined that a credit loss has occurred, an allowance for credit losses is established on our AFS and HTM securities. Management determined that there were no credit losses for securities in an unrealized loss position as of March 31, 2021 and December 31, 2020.
The following table presents the Company’s
available-for-sale
investment securities, by investment category, in an unrealized loss position for which an allowance for credit losses has not been recorded as of March 31, 2021 and December 31, 2020.
 
   
March 31, 2021
   
    Less Than 12 Months    
 
    12 Months or Longer    
 
    Total    
   
Fair Value
 
Gross
Unrealized
Holding Losses
 
Fair Value
 
 
Gross
Unrealized
Holding Losses
 
Fair Value
 
Gross
Unrealized
Holding
Losses
   
 
(Dollars in thousands)
Investment securities
available-for-sale:
                                               
Mortgage-backed securities
    $ 1,327,126       $ (22,409     $ -       $ -       $ 1,327,126       $ (22,409
CMO/REMIC
    422,765       (6,821     -       -       422,765       (6,821
Municipal bonds
    -             -       -       -        
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
available-for-sale
securities
    $ 1,749,891       $ (29,230     $ -       $ -       $ 1,749,891       $ (29,230
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   
December 31, 2020
   
    Less Than 12 Months    
 
    12 Months or Longer    
 
    Total    
   
Fair Value
 
Gross
Unrealized
Holding Losses
 
Fair Value
 
 
Gross
Unrealized
Holding Losses
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
   
 
(Dollars in thousands)
Investment securities
available-for-sale:
                                               
Mortgage-backed securities
    $ 72,219       $ (101     $ -       $ -       $ 72,219       $ (101
CMO/REMIC
    96,974       (249     -       -       96,974       (249
Municipal bonds
    -             -       -       -       -   
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
available-for-sale
securities
    $ 169,193       $ (350     $ -     $ -       $ 169,193       $ (350
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12

Table of Contents
At March 31, 2021 and December 31, 2020, investment securities having a carrying value of approximately $1.92 billion and $1.81 billion, respectively, were pledged to secure public deposits, short and long-term borrowings, and for other purposes as required or permitted by law.
The amortized cost and fair value of debt securities at March 31, 2021, by contractual maturity, are shown in the table below. Although mortgage-backed and CMO/REMIC securities have weighted average remaining contractual maturities of approximately 19 years, expected maturities will differ from contractual maturities because borrowers may have the right to prepay such obligations without penalty. Mortgage-backed and CMO/REMIC securities are included in maturity categories based upon estimated average lives which incorporate estimated prepayment speeds.
 
   
March 31, 2021
   
Available-for-sale
 
Held-to-maturity
   
  Amortized  
Cost
 
  Fair Value  
 
 
  Amortized  
Cost
 
  Fair Value  
   
 
(Dollars in thousands)