CVB Financial appoints Tim Stephens to board of directors

ONTARIO, California - CVB Financial Corp. (NASDAQ:CVBF), currently trading at $18.65 with a market capitalization of $2.57 billion and a P/E ratio of 12.88, announced Thursday the appointment of Tim Stephens to its board of directors, expanding the board from eight to nine members.

Stephens, who retired from EY in 2024 after a 27-year career with the professional services firm, will also join the board of Citizens Business Bank, the company’s banking subsidiary.

"His extensive experience in financial services, information technology, risk management, and regulatory compliance will be a tremendous asset," said Hal W. Oswalt, Chairman of the Boards for CVBF and the Bank, according to the press release.

The new director brings over 33 years of experience in business and information technology. At EY, Stephens served as a global client service partner specializing in banking and capital markets, information technology, insurance, and asset management.

Stephens holds a Master of Science in Accounting and a Bachelor of Science in Business Administration from the University of Colorado.

CVB Financial Corp. is among the 10 largest bank holding companies headquartered in California with more than $15 billion in total assets. Its subsidiary, Citizens Business Bank, operates more than 60 banking centers and three trust office locations throughout California.

In other recent news, CVB Financial Corporation announced its third-quarter results, revealing an earnings per share (EPS) of $0.38, which surpassed analysts’ expectations of $0.37. Despite this earnings beat, the company’s revenue for the quarter was $128.58 million, falling short of the projected $131.11 million. This revenue miss represents a negative surprise of 1.93%. The results highlight the company’s mixed performance, with stronger-than-expected earnings but weaker-than-anticipated revenue. These developments are part of the latest financial updates from CVB Financial. The company’s performance continues to be closely monitored by investors and analysts alike. The recent earnings announcement provides insight into the current financial health of CVB Financial.

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