IE Business Daily Business news for the Inland Empire.
CVB Financial Corp. in Ontario has received the regulatory approval needed for its merger with Heritage Commercial Corp., a San Jose-based holding company.
The Federal Reserve and the Office of the Comptroller of the Currency have both signed off on the transaction, which was approved by the shareholders of both institutions in March, according to a statement on CVB Financials’ website.
Completion of the merger is expected April 17.
CVB Financial is Citizens Business Bank’s holding company.
“We are pleased to have received all required regulatory approvals and non-objections for our planned merger with Heritage,” said David A. Brager, the bank’s president and chief executive officer, in the statement “Our team is eager to build on the strong customer and community relationships that Heritage has established in the Bay Area.”
