CVB Financial Corporation

Good morning, ladies and gentlemen, and welcome to the second quarter of 2026 Earnings Conference Call for CVB Financial Corporation and its subsidiary, Citizens Business Bank. My name is Cherie, and I'm your operator for today. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer period. Please note, this call is being recorded. I would now like to turn the presentation over to your host for today's call, Allen Nicholson, Executive Vice President and Chief Financial Officer. You may proceed.

Thank you, Cherie, and good morning everyone. Thank you for joining us today to review our financial results for the second quarter of 2026. Joining me this morning is our Chief Executive Officer, Dave Brager, and our President, Clay Jones. Our comments today will refer to the financial information that was included in the earnings announcement released yesterday To obtain a copy, please visit our website at www.cbbank.com and click on the Investors tab. The speakers on this call claim the protection of the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. For a more complete discussion of the risks and uncertainties that may cause actual results to differ materially from our forward-looking statements, please see the company's annual report on Form 10-K for the year ended December 31st, 2025. And in particular, the information set forth in Item 1-A, Risk Factors Therein. For a more complete version of the company's safe harbor disclosure, please see the company's earnings release issued in connection with this call. I'll now turn the call over to Dave Brager. Dave?

Thank you, Allen. Good morning, everyone. For the second quarter of 2026, we reported net earnings of $48.3 million, or 29 cents per share, representing our 197th consecutive quarter of profitability, which is every quarter for over 49 years. We previously declared a 20 cents per share dividend for the second quarter of 2026, representing our 147th consecutive quarter of paying a cash dividend to our shareholders. Our net earnings of $48.3 million or $0.29 per share compares with $51 million for the first quarter of 2026 or $0.38 per share and $50.6 million or $0.37 per share for the prior year quarter. Pre-tax income in the second quarter of 2026 was $65 million compared to $68.6 million in the first quarter of 2026. Results for the second quarter of 2026 reflect the impact of the acquisition of Heritage Bank of Commerce, which closed on April 17. The core banking systems of the two banks were integrated at the end of the second quarter. During the second quarter, we incurred $31.4 million in acquisition expenses, which was $30.3 million greater than the first quarter. In addition, we incurred a provision for unfunded commitments of $4.25 million for the acquired Heritage unfunded loan commitments. Excluding these unusual items, pretax income would have been $100.7 million in the second quarter. I'll now turn the call over to Allen to further discuss additional aspects of the merger and our balance sheet.