CVBF closes Heritage acquisition; pro forma 2025 net income $241M, assets $21.5B

CVB FINANCIAL CORP

Merger closed April 17, 2026; 0.65 exchange ratio; ~40.8M CVBF shares issued; total consideration $843.7M.
Pro forma combined total assets $21.47B, total deposits $16.98B as of Dec 31, 2025.
Pro forma net income $241.0M, basic EPS $1.36 for FY2025 assuming merger Jan 1, 2025.
Preliminary goodwill $320.2M; core deposit intangible $124.1M amortized over 10 years.
One-time pre-tax merger expenses of $43.0M reflected; early adoption of ASU 2025-08 for purchased loans.

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