CVB Financial Corp. (NASDAQ:CVBF) and its subsidiary, Citizens Business Bank (“the Company”), announced earnings for the third quarter of 2013. CVB Financial Corp. reported net income of $24.2 million for the third quarter of 2013, compared with net income of $9.3 million for the third quarter of 2012. Diluted earnings per share were $0.23 for the third quarter of 2013, compared to $0.09 for the third quarter of 2012. Net income for the third quarter of 2013 included a $3.8 million loan loss provision recapture and $3.7 million in insurance reimbursements for previous years’ legal costs. By comparison, the third quarter of 2012 was negatively impacted by a pre-tax debt termination expense of $20.4 million. This was related to the redemption of $250.0 million of fixed rate borrowings from the Federal Home Loan Bank (“FHLB”). As a result of improved credit quality and better economic conditions, the allowance for loan losses was reduced by $3.8 million for the third quarter of 2013. This compares with a $6.2 million reduction for the second quarter of 2013 and zero provision for loan losses for the previous eight fiscal quarters. Chris Myers, President and CEO, commented, “We achieved strong earnings for the third quarter and were particularly pleased with loan growth of roughly $100 million or 3%, quarter-over-quarter. Our new loan initiatives gained traction and our loan runoff moderated. Credit quality continued to show improvement allowing us to release an additional $3.8 million in loan loss reserves. In looking forward, we remain focused on organic expansion through the hiring and integration of banking teams. We will also seek to accelerate our growth through the acquisition of community banks in and adjacent to our existing geographic markets.” Net income for the third quarter of 2013 produced a return on beginning equity of 12.79%, a return on average equity of 12.58%, and a return on average assets of 1.49%. The efficiency ratio for the third quarter of 2013 was 43.63%, compared to 46.85% for the second quarter of 2013.