CVB Financial Corp. completed its merger with Heritage Commerce Corp. on April 17, 2026 in an all-stock transaction.
The deal adds scale immediately: Citizens Business Bank’s total assets rise to more than $20 billion, total loans increase to about $12 billion, and total deposits plus customer repurchase agreements increase to about $17 billion.
The acquisition brings 16 Heritage branches in the Bay Area into Citizens’ network and expands the bank’s California footprint to all of the state’s major metropolitan areas.
Leadership changes take effect with the merger. Clay Jones, Heritage’s president and chief executive officer, will become president of the combined organization. David Brager remains chief executive officer. Two Heritage directors, Jones and Julianne Biagini-Komas, are joining the boards of CVB Financial and Citizens Business Bank, expanding each board from nine members to eleven.
CVB Financial said it now ranks among the ten largest bank holding companies headquartered in California and operates more than 75 banking centers and three trust offices across the state. As a result of these announcements, the company's shares have moved 0.31% on the market, and are now trading at a price of $19.34. If you want to know more, read the company's complete 8-K report here.
