Community Bank Sold to CVB Financial Corp. for $903M

CVB Financial Corp. and Community Bank Announce Completion of Merger
– Mergers & Acquisitions Week

A Manatt team led by Craig Miller, a co-chair in the firm’s financial services group, and Agata Troy, an associate in the firm’s corporate and finance practice, represented Community Bank in its $903 million sale to CVB Financial Corp.

Mergers & Acquisitions Week noted that Community Bank shareholders received approximately 30 million shares of CVB stock as part of the deal, as well as $177 million in aggregate cash considerations. The sale, combining two of the oldest banks with headquarters in Southern California, was completed on Aug. 10, 2018. Following the merger, CVB now has assets that total nearly $12 billion.

In addition to Miller and Troy, the Manatt deal team included partners Jeffrey Mannisto, Sandra King, David Herbst and Anita Boomstein, and associate Jessica Iwasaki.

M2 EquityBites, M&A Navigator and SNL Financial also covered the sale.