CVBF · CVB Financial Corp.

CVB Financial Corp. has successfully cleared the final regulatory hurdles for its proposed acquisition of Heritage Commerce Corp., receiving necessary approvals from both the Federal Reserve and the Office of the Comptroller of the Currency. The Federal Reserve granted a Section 3 waiver and non-objection letter on March 30, 2026, while the OCC approved the application for the subsidiary bank merger on April 1, 2026. These approvals represent the primary regulatory conditions required to consummate the transaction. The merger, structured as an all-stock transaction pursuant to the Agreement and Plan of Reorganization dated December 17, 2025, will result in Heritage Commerce Corp. merging into CVBF and Heritage Bank of Commerce merging into Citizens Business Bank. With all regulatory approvals secured, the companies have announced an expected closing date of April 17, 2026, contingent upon the satisfaction of remaining customary closing conditions. Management expressed optimism regarding the combination, highlighting the strategic expansion into the Bay Area market and the alignment of business banking models focused on relationship banking.