Condensed Financial Information of Parent Company

12 Months Ended

Dec. 31, 2018

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information of Parent Company

25. CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

The following tables provide the parent company only condensed balance sheets, condensed statements of earnings and condensed statements of cash flows for the periods presented.

CVB FINANCIAL CORP.

CONDENSED BALANCE SHEETS

	As of December 31,
	2018		2017
	(Dollars in thousands)
Assets
Investment in subsidiaries	$	1,865,609	$	1,084,332
Other assets, net		31,628		26,703
Total assets	$	1,897,237	$	1,111,035
Liabilities	$	46,047	$	41,769
Stockholders’ equity		1,851,190		1,069,266
Total liabilities and stockholders’ equity	$	1,897,237	$	1,111,035

CVB FINANCIAL CORP.

CONDENSED STATEMENTS OF EARNINGS

	For the Year Ended December 31,
	2018			2017			2016
	(Dollars in thousands)
Excess in net earnings of subsidiaries	$	78,601		$	50,253		$	55,192
Dividends from the Bank		77,800			57,000			49,000
Other expense, net		(4,398	)		(2,842	)		(2,763	)
Net earnings	$	152,003		$	104,411		$	101,429

CVB FINANCIAL CORP.

CONDENSED STATEMENTS OF CASH FLOWS

	For the Year Ended December 31,
	2018			2017			2016
	(Dollars in thousands)
Cash Flows from Operating Activities
Net earnings	$	152,003		$	104,411		$	101,429
Adjustments to reconcile net earnings to cash used in operating activities:
Earnings of subsidiaries		(156,401	)		(107,253	)		(104,192	)
Tax settlement received from the Bank		—			1,577			2,557
Stock-based compensation		3,508			2,953			2,803
Other operating activities, net		(2,052	)		(1,725	)		(3,362	)
Total adjustments		(154,945	)		(104,448	)		(102,194	)
Net cash used in operating activities		(2,942	)		(37	)		(765	)
Cash Flows from Investing Activities
Dividends received from the Bank		77,800			57,000			49,000
Net cash provided by investing activities		77,800			57,000			49,000
Cash Flows from Financing Activities
Cash dividends on common stock		(65,966	)		(57,047	)		(51,625	)
Proceeds from exercise of stock options		1,701			2,683			5,151
Tax benefit related to exercise of stock options		—			—			932
Repurchase of common stock		(7,760	)		(1,128	)		(1,907	)
Net cash used in financing activities		(72,025	)		(55,492	)		(47,449	)
Net increase in cash and cash equivalents		2,833			1,471			786
Cash and cash equivalents, beginning of period		19,217			17,746			16,960
Cash and cash equivalents, end of period	$	22,050		$	19,217		$	17,746