CVB Financial Corp Q4 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Matthew Clark - Piper Sandler - Analyst : Hey. Good morning, guys.

Question: Matthew Clark - Piper Sandler - Analyst : If we could just start with the BOLI restructuring. Can you give us a sense for how we should think about that run rate going forward?

Question: Matthew Clark - Piper Sandler - Analyst : Okay. $109 million is total now?

Question: Matthew Clark - Piper Sandler - Analyst : Okay. Thanks. And then just some -- a couple of questions around the margin. Can you give us the spot rate on deposits at the end of December? And if you had the average margin in the month of December, help us with it.

Question: Matthew Clark - Piper Sandler - Analyst : Okay. And then just on deposits, the outflow in non-interest-bearing. Anything unusual there? And how is the overall deposit pipeline, given all the disruption?

Question: Matthew Clark - Piper Sandler - Analyst : Okay. And then just on the hiring side of things, what's that activity like, again, with all the consolidation and banks kind of going away?

Question: Matthew Clark - Piper Sandler - Analyst : Okay. And then last one for me, just around M&A, any change in the conversations you're having with potential targets?

Question: Matthew Clark - Piper Sandler - Analyst : Okay. Thank you.

Question: Tim Coffey - Janney Montgomery Scott LLC - Analyst : Hey. Good morning, gentlemen.

Question: Tim Coffey - Janney Montgomery Scott LLC - Analyst : Dave, just looking out to '24, what do you expect that with the balance sheet? Do you think we can see some additional shrinkage this year?

Question: Tim Coffey - Janney Montgomery Scott LLC - Analyst : Okay. And then, Allen, if the Fed does nothing, what happens with the loan yields, let's say, on a quarterly basis?

Question: Tim Coffey - Janney Montgomery Scott LLC - Analyst : Okay. And do you have -- just how much of the book reprices this quarter?

Question: Tim Coffey - Janney Montgomery Scott LLC - Analyst : Okay. Okay. That's very helpful. Those my questions, thank you very much for your time.

Question: Matt Fedorjaka - Keefe, Bruyette & Woods - Analyst : Hey. Good morning, guys. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JANUARY 25, 2024 / 3:30PM, CVBF.OQ - Q4 2023 CVB Financial Corp Earnings Call

Question: Matt Fedorjaka - Keefe, Bruyette & Woods - Analyst : Just wanted to kind of touch on credit a little bit. I appreciate the commentary you gave on that NPL moving. But maybe, if you could just talk a little bit about the CRE portfolio as a whole, how it's holding up, and what you guys are seeing in your markets?

Question: Matt Fedorjaka - Keefe, Bruyette & Woods - Analyst : Awesome. Appreciate the color on that. And then if I could just get one more in here. I know you said growth for balance sheet is probably pretty slow. If we were to get a decent amount of cuts this year in the back half of the year, would you expect loan demand to pick up pretty heavily? And what are you guys maybe seeing if rates start to come down there in the pipeline?

Question: Matt Fedorjaka - Keefe, Bruyette & Woods - Analyst : Yeah. Appreciate the color on that. Thanks for taking the questions, guys. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JANUARY 25, 2024 / 3:30PM, CVBF.OQ - Q4 2023 CVB Financial Corp Earnings Call