ONTARIO, Calif. (AP) — ONTARIO, Calif. (AP) — CVB Financial Corp. (CVBF) on Wednesday reported fourth-quarter earnings of $48.5 million.
The bank, based in Ontario, California, said it had earnings of 35 cents per share. Earnings, adjusted for non-recurring costs, were 39 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.
The bank holding company posted revenue of $177.2 million in the period. Its revenue net of interest expense was $138.5 million, also beating Street forecasts. Four analysts surveyed by Zacks expected $134.9 million.
For the year, the company reported profit of $221.4 million, or $1.59 per share. Revenue was reported as $547.3 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CVBF at https://www.zacks.com/ap/CVBF