This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

CVB Financial Corp. Reports First Quarter Earnings For 2012

We had $55.3 million in non-performing loans at March 31, 2012, or 1.74% of total loans. This compares to non-performing loans of $62.7 million at December 31, 2011. The $55.3 million in non-performing loans for the first quarter is summarized as follows: $8.4 million in commercial construction, $13.1 million in residential mortgages, $27.2 million in commercial real estate, $4.1 million in commercial and industrial, $1.2 million in dairy & livestock loans, and $1.3 million in other loans.

At March 31, 2012, we had $11.4 million in Other Real Estate Owned (“OREO”), a decrease of $2.4 million from OREO of $13.8 million at December 31, 2011. At December 31, 2011, we had eleven OREO properties. During the first three months of 2012, we added one property for a total of $294,000 to OREO. We sold three properties with an OREO value of $2.6 million at a gain of $15,000. We now have nine OREO properties.

At March 31, 2012, we had loans delinquent 30 to 89 days of $11.2 million. This compares to delinquent loans of $5.5 million at December 31, 2011. As a percentage of total loans, delinquencies, excluding non-accruals, were 0.35% at March 31, 2012 and 0.17% at December 31, 2011. All loans delinquent 90 days or more were categorized as non-performing.

At March 31, 2012, we had $41.9 million in performing troubled debt restructured loans (“TDR”), an increase of $3.3 million from performing TDRs of $38.6 million at December 31, 2011. In terms of number of loans, we had sixteen performing TDRs at December 31, 2011, compared to twenty-one performing TDRs at March 31, 2012.

In total, non-performing assets, defined as non-covered non-accrual loans and other real estate owned, have decreased over the past several quarters and totaled $66.7 million at March 31, 2012, $76.5 million at December 31, 2011, $81.2 million at September 30, 2011, $88.8 million at June 30, 2011, and $114.4 million at March 31, 2011.

5 of 8

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,083.80 -2.83 -0.02%
S&P 500 1,987.98 +0.97 0.05%
NASDAQ 4,472.1080 -1.5890 -0.04%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs