CVB Financial Merges With Valley Commerce Bancorp

CVB Financial, Commerce Bancorp Enter $57.5M Merger Agreement
– Street Insider

Street Insider covered Manatt’s representation of CVB Financial in a merger agreement with Valley Commerce Bancorp (VCPB). Craig Miller and David Gershon, partners in the firm’s financial services practice, led the Manatt team that represented CVB Financial in the deal.

The merger will expand the reach of CVB Financial’s Citizens Business Bank in California’s Central Valley. In exchange for all of VCBP’s common stock and options, the publication reports, CVB Financial will pay a combination of cash and stock, with the possibility of an additional special dividend if VCBP’s equity reaches a minimum equity target before the deal closes. Closing of the transaction is subject to customary regulatory approvals and the approval of VCBP shareholders.

In addition to Miller and Gershon, the team consisted of partners Sharon Bauman and David Herbst and counsel Don Fitzgerald.

Read the article here

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