CVB Financial Management

Management criteria checks 4/4

CVB Financial's CEO is Dave Brager, appointed in Mar 2020, has a tenure of 4.5 years. total yearly compensation is $2.84M, comprised of 29% salary and 71% bonuses, including company stock and options. directly owns 0.12% of the company’s shares, worth €2.64M. The average tenure of the management team and the board of directors is 8.3 years and 9.4 years respectively.

Key information

Dave Brager

Chief executive officer

US$2.8m

Total compensation

CEO salary percentage	29.0%
CEO tenure	4.5yrs
CEO ownership	0.1%
Management average tenure	8.3yrs
Board average tenure	9.4yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Dave Brager's remuneration changed compared to CVB Financial's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	n/a	n/a	US$204m
Mar 31 2024	n/a	n/a	US$209m
Dec 31 2023	US$3m	US$824k	US$220m
Sep 30 2023	n/a	n/a	US$237m
Jun 30 2023	n/a	n/a	US$244m
Mar 31 2023	n/a	n/a	US$247m
Dec 31 2022	US$3m	US$797k	US$234m
Sep 30 2022	n/a	n/a	US$216m
Jun 30 2022	n/a	n/a	US$201m
Mar 31 2022	n/a	n/a	US$193m
Dec 31 2021	US$3m	US$715k	US$212m
Sep 30 2021	n/a	n/a	US$214m
Jun 30 2021	n/a	n/a	US$212m
Mar 31 2021	n/a	n/a	US$202m
Dec 31 2020	US$2m	US$552k	US$177m
Sep 30 2020	n/a	n/a	US$178m
Jun 30 2020	n/a	n/a	US$181m
Mar 31 2020	n/a	n/a	US$194m
Dec 31 2019	US$677k	US$379k	US$207m
Sep 30 2019	n/a	n/a	US$199m
Jun 30 2019	n/a	n/a	US$187m
Mar 31 2019	n/a	n/a	US$168m
Dec 31 2018	US$1m	US$346k	US$152m
Sep 30 2018	n/a	n/a	US$126m
Jun 30 2018	n/a	n/a	US$117m
Mar 31 2018	n/a	n/a	US$110m
Dec 31 2017	US$758k	US$332k	US$104m

Compensation vs Market: Dave's total compensation ($USD2.84M) is about average for companies of similar size in the German market ($USD2.68M).

Compensation vs Earnings: Dave's compensation has been consistent with company performance over the past year.

CEO

Dave Brager (56 yo)

4.5yrs

Tenure

US$2,838,639

Compensation

Mr. David A. Brager, also known as Dave, is Chief Executive Officer and Director at CVB Financial Corp. since March 16, 2020 and serves as its President since November 19, 2021. He is Chief Executive Offic...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
David Brager	President	4.5yrs	US$2.84m	0.12% $ 2.6m
E. Nicholson	Executive VP & CFO	8.3yrs	US$1.31m	0.071% $ 1.6m
Richard Wohl	Executive VP & General Counsel	12.9yrs	US$877.54k	0.024% $ 535.8k
David Harvey	Executive VP & COO of Citizens Business Bank	14.8yrs	US$1.34m	0.072% $ 1.6m
David Farnsworth	Executive VP & Chief Credit Officer of Citizens Business Bank	8.2yrs	US$1.02m	0.041% $ 910.7k
Francene LaPoint	Senior VP & Chief Accounting Officer	3.3yrs	no data	0.017% $ 370.0k
Michael Currie	Senior VP & Chief Information Officer	2.8yrs	no data	no data
Yamynn DeAngelis	Executive VP & Chief Risk Officer	15.7yrs	no data	0.087% $ 1.9m
G. Zivelonghi	Executive VP and Dairy & Livestock Industries Group Manager - Citizens Business Bank	no data	no data	no data
Robert Banis	Executive VP & Head of CitizensTrust of Citizens Business Bank	no data	no data	no data
Hector Gutierrez	Executive VP & Deputy Chief Credit Officer of Citizens Business Bank	no data	no data	no data
Michael Stain	Senior VP of Central Valley Region - Citizens Business Bank	no data	no data	no data

8.3yrs

Average Tenure

59yo

Average Age

Experienced Management: BCV's management team is seasoned and experienced (8.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
David Brager	President	4.5yrs	US$2.84m	0.12% $ 2.6m
Raymond O'Brien	Independent Director	12yrs	US$169.17k	0.041% $ 905.1k
Hal Oswalt	Independent Chairman of the Board	10.7yrs	US$242.17k	0.032% $ 715.0k
Kimberly Sheehy	Independent Director	2.3yrs	US$189.17k	0.0094% $ 208.5k
George Borba	Independent Vice Chairman of the Board	11.8yrs	US$199.17k	5.47% $ 121.0m
Stephen Del Guercio	Independent Director	11.9yrs	US$179.17k	0.037% $ 810.2k
Anna Kan	Independent Director	8.2yrs	US$169.17k	0.029% $ 634.3k
Jane Majors	Independent Director	3.6yrs	US$169.17k	0.015% $ 343.0k

9.4yrs

Average Tenure

58yo

Average Age

Experienced Board: BCV's board of directors are considered experienced (9.4 years average tenure).

CVB Financial Management

Management criteria checks 4/4

Key information

Recent management updates

Independent Vice Chairman of the Board recently bought €579k worth of stock

CVB Financial Corp., Annual General Meeting, May 15, 2024

Insufficient new directors

Independent Vice Chairman of the Board recently bought €930k worth of stock

Independent Vice Chairman of the Board recently bought €4.7m worth of stock

Independent Vice Chairman of the Board recently bought €4.6m worth of stock

Recent updates

Second quarter dividend of US$0.20 announced

CVB Financial Corp. Announces Quarterly Cash Dividend, Payable on or About October 14, 2024

Second quarter 2024 earnings released: EPS: US$0.36 (vs US$0.40 in 2Q 2023)

First quarter dividend of US$0.20 announced

CVB Financial Corp. Announces Quarterly Cash Dividend, Payable on or About July 25, 2024

Independent Vice Chairman of the Board recently bought €579k worth of stock

New major risk - Revenue and earnings growth

First quarter 2024 earnings released: EPS: US$0.35 (vs US$0.42 in 1Q 2023)

CVB Financial Corp., Annual General Meeting, May 15, 2024

Fourth quarter dividend of US$0.20 announced

CVB Financial Corp. Announces Cash Dividend with Respect to the First Quarter of 2024, Payable on April 17, 2024

Full year 2023 earnings released: EPS: US$1.59 (vs US$1.68 in FY 2022)

Insufficient new directors

Independent Vice Chairman of the Board recently bought €930k worth of stock

New major risk - Revenue and earnings growth

Full year 2023 earnings released: EPS: US$1.60 (vs US$1.68 in FY 2022)

Upcoming dividend of US$0.20 per share at 3.9% yield

CVB Financial Corp. Announces Cash Dividend for the Fourth Quarter of 2023, Payable on or About January 22, 2024

New major risk - Revenue and earnings growth

Independent Vice Chairman of the Board recently bought €4.7m worth of stock

New major risk - Revenue and earnings growth

Third quarter 2023 earnings released: EPS: US$0.42 (vs US$0.46 in 3Q 2022)

Upcoming dividend of US$0.20 per share at 4.8% yield

CVB Financial Corp. Announces Cash Dividend for the Third Quarter of 2023, Payable on or About October 19, 2023

Independent Vice Chairman of the Board recently bought €4.6m worth of stock

Second quarter 2023 earnings released: EPS: US$0.40 (vs US$0.42 in 2Q 2022)

Investor sentiment improves as stock rises 15%

Upcoming dividend of US$0.20 per share at 5.9% yield

CVB Financial Corp. Declares Quarterly Dividend, Payable on or About July 20, 2023

Investor sentiment improves as stock rises 23%

Investor sentiment deteriorates as stock falls 17%

First quarter 2023 earnings released: EPS: US$0.43 (vs US$0.31 in 1Q 2022)

Investor sentiment deteriorates as stock falls 23%

Full year 2022 earnings released: EPS: US$1.68 (vs US$1.57 in FY 2021)

Full year 2022 earnings released: EPS: US$1.67 (vs US$1.57 in FY 2021)

CVB Financial Corp. Announces Dividend for the Fourth Quarter of 2022, Payable on or About January 13, 2023

Boards of Directors of CVB Financial Corp. and Citizens Business Bank Announces the Passing of Rodrigo Guerra, Jr., Director

Third quarter 2022 earnings released: EPS: US$0.47 (vs US$0.37 in 3Q 2021)

Upcoming dividend of US$0.20 per share

CVB Financial Corp. Announces Cash Dividend for the Third Quarter of 2022, Payable on or About October 20, 2022

Second quarter 2022 earnings released: EPS: US$0.42 (vs US$0.38 in 2Q 2021)

Upcoming dividend of US$0.19 per share

CVB Financial Corp. Appoints Kimberly Sheehy as A Board Member and as Member of Compensation Committee and Nominating and Corporate Governance Committee

Independent Director recently sold €159k worth of stock

Cvb Financial Corp. Announces Executive Changes

First quarter 2022 earnings released: EPS: US$0.31 (vs US$0.47 in 1Q 2021)

Independent Director recently sold €143k worth of stock

First quarter 2022 earnings released: EPS: US$0.32 (vs US$0.47 in 1Q 2021)

CVB Financial Corp. Announces Impairment Results for the First Quarter Ended March 31, 2022

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

CVB Financial Corp., Annual General Meeting, May 18, 2022

CVB Financial Corp. and Citizens Business Bank Announces Board Retirements

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

CVB Financial Corp. Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2021

President of Citizens Business Bank Brian Mauntel has left the company

President of Citizens Business Bank Brian Mauntel has left the company

President of Citizens Business Bank Brian Mauntel has left the company

President of Citizens Business Bank Brian Mauntel has left the company

President of Citizens Business Bank Brian Mauntel has left the company

President of Citizens Business Bank Brian Mauntel has left the company

President of Citizens Business Bank Brian Mauntel has left the company

President of Citizens Business Bank Brian Mauntel has left the company

President of Citizens Business Bank Brian Mauntel has left the company

President of Citizens Business Bank Brian Mauntel has left the company

President of Citizens Business Bank Brian Mauntel has left the company

President of Citizens Business Bank Brian Mauntel has left the company

President of Citizens Business Bank Brian Mauntel has left the company

President of Citizens Business Bank Brian Mauntel has left the company

President of Citizens Business Bank Brian Mauntel has left the company