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CVB FINANCIAL CORP. ANNOUNCES 1991 RESULTS

 CVB FINANCIAL CORP. ANNOUNCES 1991 RESULTS
 ONTARIO, Calif., Jan. 10 /PRNewswire/ -- CVB Financial Corp.


(AMEX: CVB), parent company of Chino Valley Bank, today announced 1991 earnings of $7,969,000, or $1.34 per share, which represents a return on average assets of 1.54 percent and a return on beginning equity of 20.8 percent.
 Comparable 1990 earnings were $8,847,000, or $1.43 per share, which represented a return on average assets of 1.81 percent and a return on beginning equity of 27.2 percent. The decline in 1991 earnings as compared to 1990 was primarily attributable to a narrowing net interest margin, increased FDIC insurance premiums and non-recurring legal fees.
 During the fourth quarter of 1991, the company earned $1,878,000 or $.32 per share. This compares to $2,213,000, or $.36 per share, during the same period of 1990.
 The company ended 1991 with total assets of $560.3 million, net loans of $365.6 million and total deposits of $499.8 million.
 Non-accrual loans and OREO dropped to $7.3 million, or 1.96 percent of loans, at the end of 1991. This compares to $11.7 million, or 3.19 percent of loans, as of Sept. 30, 1991 and $9.2 million, or 2.49 percent of loans, as of Dec. 31, 1990. As of Dec. 31, 1991, the allowance for credit losses of $5.3 million was 72.4 percent of non-accrual loans and OREO.
 As previously announced, CVB Financial Corp. increased its quarterly cash dividend to 8 cents per share payable this month to shareholders of record as of Jan. 4, 1992. Shares of CVB Financial Corp. common stock are listed on the American Stock Exchange under the ticker symbol of CVB.
 CVB FINANCIAL CORP.
 Earnings Summary
 1991 1990
 Quarter ended Dec. 31:
 Net income $1,878,000 $2,213,000
 Per share earnings .32 .36
 Year ended Dec. 31:
 Net income $7,969,000 $8,847,000
 Per share earnings 1.34 1.43
 Fully diluted shares 5,940,613 6,165,592
 Shares outstanding 5,834,985 5,829,708
 CVB FINANCIAL CORP.
 Consolidated Balance Sheets
 (unaudited)
 amounts in thousands
 Dec. 31,
 1991 1990
 Assets:
 Investment securities $102,841 $87,344
 Federal funds sold 18,000 10,000
 Loans and lease finance
 receivables, net 365,574 362,758
 Total earning assets 486,415 460,102
 Cash and due from banks 53,588 35,651
 Premises and equipment, net 8,361 9,616
 Other assets 11,620 6,992
 Total $560,254 $512,361
 Liabilities and Stockholders' Equity:
 Liabilities
 Deposits
 Noninterest-bearing $131,468 $119,286
 Interest-bearing 368,339 343,605
 Total 499,807 462,891
 Other liabilities 16,519 11,105
 Total 516,326 473,996
 Stockholders' equity:
 Common stock 5,636 5,728
 Retained earnings 38,292 32,837
 Subtotal 43,928 38,565
 Total $560,254 $512,561
 CVB FINANCIAL CORP.
 Consolidated Statements of Earnings
 (unaudited)
 amounts in thousands
 Year ended
 Dec. 31,
 1991 1990
 Interest income:
 Loans, including fees $40,491 $45,519
 Investment securities &
 fed funds 8,350 6,965
 Total 48,841 52,484
 Interest expense
 Deposits 19,022 22,315
 Other borrowings 358 432
 Total 19,380 22,747
 Net interest income before
 provision for credit losses 29,461 29,737
 Provision for credit losses 604 545
 Net interest income after
 provision for credit losses 28,857 29,192
 Other operating income 7,057 6,401
 Other operating expenses 22,728 20,908
 Earnings before income taxes 13,186 14,685
 Income taxes 5,217 5,838
 Net earnings $7,969 $8,847
 Earnings per common share $1.34 $1.43
 Dividends per common share $.28 $.26
 -0- 1/10/92
 /CONTACT: Robert J. Schurheck, CFO of CVB Financial, 714-980-4030/
 (CVB) CO: CVB Financial Corp. ST: California IN: FIN SU: ERN


EH-KJ -- LA011 -- 8778 01/10/92 17:00 EST
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