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CVB FINANCIAL CORP. REPORTS STRONG THIRD QUARTER EARNINGS

 CVB FINANCIAL CORP. REPORTS STRONG THIRD QUARTER EARNINGS
 ONTARIO, Calif., Oct. 22 /PRNewswire/ -- CVB Financial Corp. (AMEX: CVB) today announced third quarter net earnings of $2,288,000, or $.38 per share, as compared to $2,007,000, or $.34 per share, for the same period of 1991. Return on average assets was 1.62 percent, and return on average equity was 18.67 percent for the period.
 These positive earning trends are primarily attributed to a strong net interest margin of 6.50 percent, a continuation of solid asset quality and modest loan losses, and improvement in managing expenses. Measures taken during the first nine months of the year to improve operating efficiencies are beginning to yield significant results, and they will further improve operating performance.
 For the nine months ended Sept. 30, 1992, net earnings were $6,474,000, or $1.07 per share. This compares to $6,091,000, or $1.02 per share, during the same period of 1991.
 At Sept. 30, 1992, the company had net assets of $564.5 million, deposits of $499.4 million, and net loans of $363.2 million.
 CVB Financial Corp. operates Chino Valley Bank, the largest independent bank headquartered in Southern California's Inland Empire region. Shares of CVB Financial Corp. are listed on the American Stock Exchange under the ticker symbol of CVB.
 Comparative financial statements to follow.
 CVB FINANCIAL CORP.
 Consolidated Balance Sheets
 (Unaudited)
 (Amounts in Thousands)
 Sept. 30, Sept. 30,
 1992 1991
 Assets
 Investment securities $138,152 $99,164
 Federal funds sold 0 13,000
 Loans and lease finance
 receivables, net 363,193 362,134
 Total earning assets 501,345 474,298
 Cash and due from banks 37,570 41,898
 Premises and equipment, net 8,215 8,822
 Other assets 17,392 6,901
 Total $564,522 $531,919
 Liabilities and
 stockholders' equity
 Liabilities
 Deposits
 Noninterest-bearing $142,240 $121,502
 Interest-bearing 357,156 353,773
 Total 499,396 475,275
 Other liabilities 15,198 14,206
 Total 514,594 489,481
 Stockholders' equity
 Common stock 6,039 5,500
 Retained earnings 43,889 36,938
 Subtotal 49,928 42,438
 Total $564,522 $531,919
 CVB FINANCIAL CORP.
 Consolidated Statements of Earnings
 (Unaudited)
 (Amounts in Thousands)
 Nine Months Ended
 Sept. 30,
 1992 1991
 Interest income
 Loans, including fees $26,102 $30,855
 Investment securities &
 fed funds 7,123 6,191
 Total 33,225 37,046
 Interest expense
 Deposits 9,494 14,772
 Other borrowings 164 268
 Total 9,658 15,040
 Net interest income before
 provision for credit losses 23,567 22,006
 Provision for credit losses 1,072 304
 Net interest income after
 provision for credit losses 22,495 21,702
 Other operating income 5,881 5,270
 Other operating expenses 17,499 16,904
 Earnings before income taxes 10,877 10,068
 Income taxes 4,403 3,977
 Net earnings $6,474 $6,091
 Earnings per common share $1.07 $1.02
 Dividends per common share $.24 $.21
 CVB FINANCIAL CORP.
 Earnings Summary
 Quarter ended Sept. 30: 1992 1991
 Net earnings $2,288,000 $2,007,000
 Share earnings, fully
 diluted 0.38 0.34
 Nine months ended Sept. 30:
 Net earnings $6,474,000 $6,091,000
 Share earnings, fully
 diluted 1.07 1.02
 Shares outstanding 5,969,016 5,792,007
 Fully diluted shares 6,065,691 5,968,310
 -0- 10/22/92
 CONTACT: Robert J. Schurheck, CFO of CVB Financial, 714-980-4030/
 (CVB) CO: Chino Valley Bank; CVB Financial Corp. ST: California IN: FIN SU: ERN


BP-JL -- LA032 -- 3890 10/22/92 17:42 EDT
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Date:Oct 22, 1992
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