CVB Financial Completes Merger with Heritage Commerce
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 17 2026
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Source: Globenewswire
- Merger Completion: CVB Financial Corp. and Heritage Commerce Corp. completed their merger on April 17, 2026, in an all-stock transaction, marking the largest asset merger in CVB's history with total assets exceeding $20 billion.
- Asset and Loan Growth: Post-merger, Citizens Business Bank's total assets will surpass $20 billion, with total loans increasing to approximately $12 billion and total deposits and customer repurchase agreements rising to about $17 billion, significantly enhancing the company's market competitiveness.
- Strategic Expansion: The merger will extend Citizens' business banking franchise across all major metropolitan areas in California, leveraging Heritage Bank's 16 branches in the Bay Area to enhance market coverage and drive growth opportunities.
- Executive Changes: Clay Jones, CEO of Heritage, will become President of the combined entity, while CVB's CEO David Brager will continue to lead, and the board will expand to 11 members, enhancing management diversity and experience.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
