CVB Financial Q4 net earnings increase

CVB Financial Corp. has reported that net earnings for the fourth quarter ended December 31, 2012 were $22.14 million, or $0.21 per share, compared to $21.71 million, or $0.21 per share, for the same quarter ended December 31, 2011.

Net interest income after provision for credit losses for the fourth quarter ended December 31, 2012 was $55.64 million, compared to $55.2 million for the same quarter ended December 31, 2011.

Net earnings for the year ended December 31, 2012 were $77.28 million, or $0.74 per share, compared to $81.73 million, or $0.77 per share, for the year ended December 31, 2011.

Net interest income after provision for credit losses for the year ended December 31, 2012 was $236.95 million, compared to $227.61 million for the year ended December 31, 2011.

Chris Myers, President and CEO commented, "2012 was the second most profitable year in CVBF history and would have been the most profitable had we not elected to prepay $250 million in FHLB debt in August. We are pleased with the consistency of our operating performance over the last seven fiscal quarters and remain proud of the outstanding efforts of our associates."