CVB FINANCIAL CORP (CVBF): M&A transaction — CVB Financial completes all-stock acquisition of Heritage Commerce; assets exceed $20B

CVB FINANCIAL CORP

CVBF issued ~41M shares to Heritage shareholders at 0.65 exchange ratio; total assets rise to >$20B
Clay Jones appointed President of CVBF and Citizens Business Bank; David Brager remains CEO
Two Heritage directors (Jones, Biagini-Komas) join CVBF and CBB boards, expanding to 11 directors
Combined company loans ~$12B, deposits & repurchase agreements ~$17B; adds 16 Bay Area branches
NEO employment agreements amended to provide 1x salary/bonus severance for termination without cause

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

CVB FINANCIAL CORP completed an acquisition involving Heritage Commerce Corp for each share of Heritage’s common stock ... was cancelled and converted into the right to receive 0.65 shares of CVBF’s common stock (closed 2026-04-17).

Action: acquisition
Counterparty: Heritage Commerce Corp
Consideration: each share of Heritage’s common stock ... was cancelled and converted into the right to receive 0.65 shares of CVBF’s common stock
Closing: 2026-04-17

Exact text from the filing

share of Heritage’s common stock outstanding immediately prior to the effective time of the Merger (the “Effective Time”) was cancelled and converted into the right to receive 0.65 shares of CVBF’s common stock (the “Merger Consideration,” and such exchange ratio, the “Exchange Ratio”). In addition, at the Effective Time, (i) each unexercised and outstanding

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31 m&a transactions filed in the last 30 days. Browse all m&a transactions →

CVB FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0001193125-26-167264

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