secwatch.observer — SEC 8-K summary
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Issuer:     CVB FINANCIAL CORP (CVBF)
CIK:        0000354647
Form:       8-K
Filed at:   2025-12-23T23:59:59+00:00
Accession:  0001193125-25-331051
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/354647/000119312525331051/0001193125-25-331051-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/354647/000119312525331051/d42564d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-331051

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