---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-331051"
form_type: "8-K"
ticker: "CVBF"
cik: "0000354647"
company_name: "CVB FINANCIAL CORP"
filed_at: "2025-12-23T23:59:59+00:00"
generated_at: "2026-05-16T12:22:03.283209+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-331051
- form_type: 8-K
- ticker: CVBF
- cik: 0000354647
- company_name: CVB FINANCIAL CORP
- filed_at: 2025-12-23T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/354647/000119312525331051/0001193125-25-331051-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/354647/000119312525331051/d42564d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-331051
- JSON: https://secwatch.observer/filing/0001193125-25-331051.json
- Plain text: https://secwatch.observer/filing/0001193125-25-331051.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.