CVB Financial Corp. (NASDAQ:CVBF) announced that CVBF has received the necessary regulatory approvals for its merger with Heritage Commerce Corp. ("HTBK").

This includes (1) the receipt of a Section 3 waiver and non-objection letter from the Federal Reserve concerning HTBK's proposed merger into CVBF and (2) a letter of approval from the Office of the Comptroller of the Currency regarding the merger of HTBK's wholly-owned banking subsidiary, Heritage Bank of Commerce ("HBC" and, together with HTBK, "Heritage") into CVBF's wholly-owned banking subsidiary, Citizens Business Bank, National Association, ("CBB" and, together with CVBF, "Citizens").

The closing of the respective mergers of HTBK into CVBF and of HBC into CBB, which is presently expected to occur on April 17, 2026, remains subject to the satisfaction of customary closing conditions set forth in CVBF's and HTBK's merger agreement.

"We are pleased to have received all required regulatory approvals and non-objections for our planned merger with Heritage," said David A. Brager, President and Chief Executive Officer of Citizens. "Our team is eager to build on the strong customer and community relationships that Heritage has established in the Bay Area. We look forward to a successful closing and a smooth integration."

Clay Jones, President and Chief Executive Officer of Heritage, stated, "We are excited to move forward with our planned merger with Citizens and to bring together two business banking models that share strong values, a commitment to customers, and a focus on community. This combination creates new opportunities for our customers and associates, expands the depth and breadth of our offerings, and supports our shared dedication to relationship-focused banking throughout the State of California."