Image via wikipedia user Amanda Paul

CVB Financial Corp. has completed a merger with Heritage Commerce Corp., pushing the Ontario-based bank holding company past $20 billion in total assets and extending its reach into every major metropolitan market in California.

The all-stock transaction, finalized April 17, merges Citizens Business Bank with Heritage Bank of Commerce, adding 16 Bay Area branches to Citizens’ existing statewide network of more than 75 banking centers.

“This merger marks the most strategic and largest acquisition by asset size in our history, bringing together two premier, relationship-focused business banks and advancing our longstanding objective of expanding into the Bay Area,” said David Brager, CEO of Citizens Business Bank.

Combined, the institution is expected to hold approximately $12 billion in total loans and roughly $17 billion in deposits and customer repurchase agreements, according to a news release.

The deal comes as Citizens reported continued financial strength heading into the transaction. The bank posted net earnings of $51 million in the first quarter of 2026, maintaining a net interest margin of 3.44% and keeping nonperforming assets at just 0.04% of total assets — among the lowest ratios in its peer group. The company has recorded profits for 196 consecutive quarters, a streak spanning 49 years.

Clay Jones, president and CEO of San Jose-based Heritage, will join Citizens as president of the combined organization. Jones and director Julianne Biagini-Komas will join the CVB Financial board, expanding it from nine to 11 members.

Citizens Business Bank operates five Central Valley locations — in Madera, Fresno, Kingsburg, Visalia and Tulare. The bank has a significant agricultural lending presence in the region, with dairy, livestock and agribusiness loans totaling nearly $315 million as of March 31.

CVB Financial, the parent company of Citizens Business Bank, is among the 10 largest bank holding companies headquartered in California. The companies announced the agreement Dec. 17, 2025, as part of a strategy to accelerate growth and deepen market share in Northern California.