A Manatt team led by Financial Services leader Craig Miller, Corporate and Finance Partner Veronica Lah and Tax Partner David Herbst represented CVB Financial Corp. (Nasdaq: CVBF) in their merger agreement with Heritage Commerce Corp. (Nasdaq: HTBK). The merger also includes Citizens Business Bank National Association and Heritage Bank of Commerce.
CVB Financial will acquire Heritage in an all-stock transaction valued at approximately $811 million, or $13.00 per HTBK share.
The merger is Citizens’ most strategic acquisition and largest by asset size, expanding Citizens’ presence in the Bay Area and providing the company with comprehensive geographic coverage of all major business banking markets in California.
The proposed merger is expected to close in the second quarter of 2026, creating a bank with approximately $22 billion in assets and more than 75 offices and branches.
The Manatt team also included Partners Jeff Mannisto, Chris Wanger, Brandon Reilly, Michel Narganes and Andrew Satenberg, Special Counsel Hope Adams, Associates Danli Lan and Walter Kasmer, as well as Sandra Zapf.