ONTARIO, Calif., Jan. 07, 2022 (GLOBE NEWSWIRE) -- CVB Financial Corp. (the “Company”) announced today that the planned merger between CVBF’s wholly-owned banking subsidiary, Citizens Business Bank (“Citizens”), and Suncrest Bank (“Suncrest”) has been completed, effective at 6:00 p.m. (Pacific Standard Time) on January 7, 2022. Suncrest was merged with and into Citizens, in accordance with the terms and conditions of that certain Agreement and Plan of Reorganization and Merger (“Merger Agreement”), dated as of July 27, 2021, by and among the Company, Citizens and Suncrest, in a stock and cash transaction valued at approximately $237 million in aggregate, or $18.63 per Suncrest share based on CVB Financial Corp.’s closing stock price of $22.87 on January 7, 2022.
Read more at globenewswire.comhello world
Provided Content: Content provided by Globe Newswire. The Globe and Mail was not involved, and material was not reviewed prior to publication.
