On March 26, 2026, CVB Financial Corp. (NASDAQ: CVBF) held a special meeting of shareholders where they voted to approve the proposed merger with Heritage Commerce Corp (NASDAQ: HTBK). This merger is part of a strategic move to enhance the company's market position and expand its service offerings. The merger agreement stipulates that Heritage will merge into CVB Financial, with CVB continuing as the surviving entity. Following the merger, Heritage Bank of Commerce will merge with Citizens Business Bank, a wholly-owned subsidiary of CVB Financial. The approval of the merger proposal required a majority vote from the shareholders, and the results showed significant support, with over 103 million shares represented at the meeting, accounting for approximately 76.31% of the outstanding shares entitled to vote. The merger is expected to close in the second quarter of 2026, pending regulatory approvals and the satisfaction of other closing conditions. This strategic move is anticipated to create a stronger financial institution capable of delivering enhanced services to customers across California. The joint press release issued by both companies highlighted the expected benefits of the merger, including increased operational efficiencies and a broader range of financial products and services. The shareholders' approval marks a significant step forward in CVB Financial's growth strategy, positioning the company for future success in a competitive banking landscape.

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