CVB Financial to merge with Heritage Commerce in a $811m deal.

CVB Financial, the holding company for Citizens Business Bank, agreed to merge with Heritage Commerce, the holding company for Heritage Bank of Commerce, in a $811m deal. “This will be the most strategic and the largest acquisition by assets in our history. It brings together two premier, relationship-focused business banks and provides Citizens with an important opportunity to expand into the Bay Area, a key strategic objective. This merger will provide us with comprehensive geographic coverage of all the major business banking markets in California, while ensuring the preservation of the local focus, stability, and deep trust inherent in our relationship banking model. We are very pleased to have Clay and key members of the Heritage team join the combined company. On behalf of all of us at Citizens Business Bank, I want to welcome Heritage’s talented employees and loyal customers. We look forward to working together to obtain a timely closing and smooth integration," David A. Brager, Citizens President and CEO.