Core Viewpoint - Citizens Business Bank and Heritage Commerce Corp have announced a definitive merger agreement valued at approximately $811 million, aimed at expanding Citizens' presence in the Bay Area and enhancing financial performance [1][2]. Summary by Sections Merger Details - The merger will be an all-stock transaction, with Heritage shareholders receiving 0.6500 shares of CVBF common stock for each HTBK share [2]. - Upon completion, CVBF shareholders will own approximately 77% and HTBK shareholders will own approximately 23% of the combined entity [2]. Strategic Importance - This acquisition is described as the largest in terms of assets in Citizens' history, allowing for comprehensive geographic coverage across major business banking markets in California [2]. - The merger is expected to preserve the local focus and trust inherent in the relationship banking model of both institutions [2]. Financial Projections - The transaction is anticipated to be immediately accretive to Citizens' earnings per share, with projected EPS accretion of 13.2% by 2027 and a strong internal rate of return of approximately 20% [3]. - The tangible book value per share is expected to be 7.7% dilutive, with an earn-back period of approximately 2.5 years [3]. Leadership and Governance - David Brager will continue as CEO of Citizens, while Clay Jones will join as President of the combined organization [4]. - Two current directors from Heritage will join the Citizens' Board of Directors to ensure continuity and representation [4]. Approval and Timeline - The merger has been unanimously approved by the Boards of Directors of both companies and is expected to close in the second quarter of 2026, pending regulatory and shareholder approvals [5]. Advisory Roles - J.P. Morgan served as financial advisor and Manatt, Phelps & Phillips, LLP as legal counsel for Citizens, while Piper Sandler & Co. and Wachtell, Lipton, Rosen & Katz served similar roles for Heritage [6].

Core Viewpoint - CVB Financial Corp. announced a cash dividend of $0.20 per share for the fourth quarter of 2025, marking the 145th consecutive quarterly cash dividend [1][2]. Group 1: Dividend Announcement - The cash dividend of $0.20 per share was approved during the Board of Directors meeting on December 12, 2025 [1]. - The dividend will be payable on or about January 13, 2026, to shareholders of record as of December 29, 2025 [1]. Group 2: Company Overview - CVB Financial Corp. is the holding company for Citizens Business Bank and is among the 10 largest bank holding companies in California, with total assets exceeding $15 billion [3]. - Citizens Business Bank is recognized as one of the top-performing banks in the nation, offering a wide range of banking, lending, and investing services through more than 60 banking centers and three trust office locations in California [3]. Group 3: Stock Information - Shares of CVB Financial Corp. are listed on NASDAQ under the ticker symbol "CVBF" [4].

Core Insights - Citizens Business Bank has opened a new Loan Production Office in Temecula, California, led by Leonard Barbosa, who has over 35 years of banking experience in Southern California [1][2]. Group 1: Strategic Expansion - The new office strengthens the bank's presence in the growing Temecula-Murrieta region of Riverside County and enhances its footprint across Southern California, connecting the San Diego and Riverside markets [2]. - Over the past decade, Citizens Business Bank has opened several de novo offices in key cities across California, including San Diego, Oxnard, Santa Barbara, Stockton, and Modesto [2]. Group 2: Corporate Overview - CVB Financial Corp. is the holding company for Citizens Business Bank and is one of the 10 largest bank holding companies headquartered in California, with total assets exceeding $15 billion [3]. - Citizens Business Bank is recognized as one of the top-performing banks in the nation, offering a wide range of banking, lending, and investing services through more than 60 banking centers and three trust office locations in California [3]. Group 3: Investor Information - Shares of CVB Financial Corp. are listed on NASDAQ under the ticker symbol "CVBF" [4].

Group 1 - CVB Financial Corp. announced a cash dividend of $0.20 per share for the third quarter of 2025, approved during the Board of Directors meeting on September 17, 2025 [1][2] - The dividend will be payable on or about October 16, 2025, to shareholders of record as of October 1, 2025 [1] - This marks the 144th consecutive quarterly cash dividend paid to shareholders [2] Group 2 - CVB Financial Corp. is the holding company for Citizens Business Bank, one of the 10 largest bank holding companies in California, with total assets exceeding $15 billion [3] - Citizens Business Bank is recognized as one of the top-performing banks in the nation, offering a wide range of banking, lending, and investing services through more than 60 banking centers and three trust office locations in California [3] - Shares of CVB Financial Corp. are listed on NASDAQ under the ticker symbol "CVBF" [4]

Group 1 - CVB Financial Corp. announced a cash dividend of $0.20 per share for the second quarter of 2025, approved during the Board of Directors meeting on June 25, 2025 [1][2] - The dividend will be payable on or about July 24, 2025, to shareholders of record as of July 10, 2025 [1] - This marks the 143rd consecutive quarterly cash dividend paid to shareholders [2] Group 2 - CVB Financial Corp. is the holding company for Citizens Business Bank, one of the 10 largest bank holding companies in California, with total assets exceeding $15 billion [3] - Citizens Business Bank is recognized as one of the top-performing banks in the nation, offering a wide range of banking, lending, and investing services through more than 60 banking centers and three trust office locations in California [3] - Shares of CVB Financial Corp. are listed on NASDAQ under the ticker symbol "CVBF" [4]