CVB Financial and Heritage Commerce merge in $22B asset deal
CVB Financial Corp. and Heritage Commerce Corp have agreed to merge in an all-stock deal. The combined business will hold around $22 billion in assets and operate over 75 branches. Shareholders and regulators must still approve the transaction before it finalises in mid-2026.
The merger values Heritage at roughly $811 million, or $13.00 per share. Once complete, CVBF shareholders will own about 77% of the new company, while HTBK shareholders will hold 23%. Two directors from Heritage will also join Citizens’ board.
The merged company will bring together more than 75 offices and branches under a single operation. With assets nearing $22 billion, the deal aims to strengthen the combined company’s market presence. Final approvals and integration steps remain before the merger completes in 2026.
