MergerApr 17, 2026, 05:22 PM
CVBF Completes Merger with Heritage; Assets Exceed $20B
AI Summary
CVB Financial Corp. announced the completion of its all-stock merger with Heritage Commerce Corp on April 17, 2026. This strategic acquisition significantly expands Citizens Business Bank's footprint, particularly in the Bay Area, and boosts its financial scale. Post-merger, Citizens' total assets now exceed $20 billion, with loans increasing to approximately $12 billion and deposits to $17 billion. Clay Jones, former Heritage CEO, joins Citizens as President, and two Heritage directors have been added to the boards.
Key Highlights
- Merger completed on April 17, 2026.
- Combined assets exceed $20 billion.
- Total loans increased to approximately $12 billion.
- Total deposits increased to approximately $17 billion.
- Adds 16 branches in the Bay Area.