The preferred stock was issued pursuant to the Capital Purchase Program established under the Troubled Asset Relief Program ("TARP"). The Company will pay $130 million to the Treasury to repurchase the preferred stock, plus accrued and unpaid dividends and intends to complete the repurchase as soon as possible.

"We are grateful to the U.S. Treasury for their investment in CVB Financial late last year. The financial markets were extremely turbulent and these funds provided comfort to our many shareholders and customers," commented Chris Myers, President and Chief Executive Officer of CVB Financial Corp. "Repaying TARP is an important milestone in our company history. Our recent common stock offering raised over $132 million in gross proceeds. We will utilize these funds to repay the Treasury's investment."

CVB Financial Corp. is the holding company for Citizens Business Bank, a $6.4 billion financial services company based in Ontario, California. Citizens Business Bank serves 39 cities with 41 business financial centers and 5 commercial banking centers in the Inland Empire, Los Angeles County, Orange County and the Central Valley areas of California.

Shares of CVB Financial Corp. common stock are listed on the NASDAQ under the ticker symbol of CVBF. For investor information on CVB Financial Corp., visit our Citizens Business Bank website at www.cbbank.com and click on the CVB Investor tab.

Safe Harbor

Certain matters set forth herein (including the exhibits hereto) constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including forward-looking statements relating to the Company's current business plan and expectations regarding future operating results. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those projected.