CVB Financial Profit Rises

(RTTNews) - CVB Financial Corp. (CVBF) Wednesday posted second-quarter net income of $24.5 million, compared with $23.6 million last year. On a per share basis, earnings were flat at $0.23.

Results for the reporting quarter included a $6.2 million recapture of loan loss provision and a net pre-tax gain of $2.5 million on the sale of other real estate owned property.

On average, 9 analysts polled by Thomson Reuters estimated earnings of $0.21 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income for the quarter fell to $52.6 million from $63 million in the prior year.

Analysts had a consensus revenue estimate of $55.75 million for the quarter.

Non interest income increased to $7.7 million from $2 million.