CVB Financial Corp. (NASDAQ:CVBF) and its subsidiary, Citizens Business Bank (“the Company”), announced record earnings for the year ended December 31, 2013. CVB Financial Corp. reported net income of $95.6 million for the year ended December 31, 2013, compared with net income of $77.3 million for 2012. Diluted earnings per share were $0.91 for the year ended December 31, 2013, compared to $0.74 for the same period last year. Net income for 2013 included $16.8 million in loan loss provision recapture. By comparison, net income for 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”). The allowance for loan losses was reduced by $6.8 million for the fourth quarter of 2013 primarily as a result of improved credit quality. This compares with a $3.8 million reduction for the third quarter of 2013, 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, “2013 was the most profitable year in CVBF history. We are pleased with fourth quarter loan growth which exceeded $100 million. Credit quality continued to show improvement, which allowed us to release an additional $6.8 million in loan loss reserves for the fourth quarter.” Net income for the year ended December 31, 2013 produced a return on beginning equity of 12.53%, a return on average equity of 12.34% and a return on average assets of 1.48%. The efficiency ratio for 2013 was 47.21%, compared to 54.64% (46.58% excluding the prior year FHLB debt termination expense) for 2012. Noninterest income was $25.3 million for the year ended December 31, 2013, compared with $15.9 million for 2012. Noninterest income for 2013 increased primarily due to a $12.9 million net decrease in the FDIC loss sharing asset, compared to a $21.9 million net decrease for 2012.