CVB Financial Corporation

Good morning ladies and gentlemen and welcome to the third 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 on 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, 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 third 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.cebbank.com and click on the Investors tab. 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 1A 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 third quarter of 2026, we reported net earnings of $78.1 million, or 44 cents per share, representing our 198th consecutive quarter of profitability, which is every quarter for over 49 years. We previously declared a 20 cents per share dividend for the third quarter of 2026, representing our 148th consecutive quarter of paying a cash dividend to our shareholders. are net earnings of $78.1 million, or 44 cents per share, compared with $48.3 million for the second quarter of 2026, or 29 cents per share, and $52.6 million, or 38 cents per share, for the prior year quarter. Pre-tax income in the third quarter of 2026 was $106.1 million, compared to $65 million in the second quarter of 2026. The third quarter was the first calendar quarter with the full benefit of the acquisition of Heritage Bank of Commerce as the second quarter of 2026 reflected 74 days of combined operations with Heritage. The core banking systems of the two banks were integrated at the end of the second quarter and we incurred $31.4 million in acquisition expenses during the second quarter compared to $8.1 million for the third quarter. Now that we have completed a full quarter post-merger and systems conversion, I would like to highlight some key financial measurements we have achieved at this time by comparing the third quarter of 2026 to the same quarter of 2025. We announced with the merger that we would generate EPS growth of 13% by 2027. For the third quarter, earnings per share grew by 6 cents or 16%. Upon announcement, we highlighted a return on average assets targeted to exceed 150 basis points by 2027. For the third quarter of 2026, the reported return on average assets was 1.48%, but after adjusting for acquisition expense, it was 1.59%. We also achieved a 16.2% return on average tangible common equity in the third quarter of 2026, which compares to the 17% target we announced in 2027. I will now turn the call over to Clay to discuss loans and deposits.