Condensed Financial Information of Parent Company

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Parent Company

25. CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

The parent company only condensed balance sheets as of December 31, 2014 and 2013 and the related condensed statements of earnings and condensed statements of cash flows for each of the three years ended December 31, 2014, 2013, and 2012 are presented below:

CVB FINANCIAL CORP.

CONDENSED BALANCE SHEETS

	As of December 31,
	2014		2013
	(Dollars in thousands)
Assets
Investment in subsidiaries	$	895,972	$	789,448
Other assets, net		19,069		19,120
Total assets	$	915,041	$	808,568
Liabilities	$	36,932	$	36,681
Stockholders’ equity		878,109		771,887
Total liabilities and stockholders’ equity	$	915,041	$	808,568

CVB FINANCIAL CORP.

CONDENSED STATEMENTS OF EARNINGS

	For the Year Ended December 31,
	2014			2013			2012
	(Dollars in thousands)
Excess in net earnings of subsidiaries	$	66,119		$	33,149		$	(1,261	)
Dividends from the Bank		41,000			63,000			82,300
Other expense, net		(3,098	)		(541	)		(3,759	)
Net earnings	$	104,021		$	95,608		$	77,280

CVB FINANCIAL CORP.

CONDENSED STATEMENTS OF CASH FLOWS

	For the Year Ended December 31,
	2014			2013			2012
	(Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$	104,021		$	95,608		$	77,280
Adjustments to reconcile net earnings to cash used in operating activities:
Earnings of subsidiaries		(107,119	)		(96,149	)		(81,039	)
Tax settlement received from the Bank		1,812			1,903			5,240
Stock-based compensation		2,988			1,926			2,039
Other operating activities, net		(3,080	)		241			(1,717	)
Total adjustments		(105,399	)		(92,079	)		(75,477	)
Net cash (used in) provided by operating activities		(1,378	)		3,529			1,803
CASH FLOWS FROM INVESTING ACTIVITIES:
Dividends received from the Bank		41,000			63,000			82,300
Net cash provided by investing activities		41,000			63,000			82,300
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of junior subordinated debentures		—			(41,238	)		(48,043	)
Cash dividends on common stock		(42,298	)		(29,939	)		(44,552	)
Proceeds from exercise of stock options		5,522			4,517			2,557
Tax benefit from exercise of stock options		1,116			475			194
Repurchase of common stock		(5,474	)		(559	)		(54	)
Net cash used in financing activities		(41,134	)		(66,744	)		(89,898	)
NET DECREASE IN CASH AND CASH EQUIVALIENTS		(1,512	)		(215	)		(5,795	)
CASH AND CASH EQUIVALENTS, beginning of year		15,044			15,259			21,054
CASH AND CASH EQUIVALENTS, end of year	$	13,532		$	15,044		$	15,259