CVBF to acquire Heritage Commerce Corp in stock deal valued at ~$811M; Clay Jones named President

CVB FINANCIAL CORP

Heritage shareholders receive 0.65 CVBF shares per share; implied ~$13.00/share based on Dec 16 close.
Heritage CEO Robertson 'Clay' Jones to become President of CVBF and Citizens Business Bank post-close.
David Brager remains CEO; two Heritage directors will join CVBF board after merger.
Merger subject to regulatory approvals, shareholder votes, and other conditions; outside date Jan 15, 2027.
Termination fee of $32.45M payable under certain circumstances; no party pays more than once.

item 1.01 item 5.02 item 9.01

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