D.A. Davidson has served as financial advisor to Community Bank in its merger with and into CVB Financial Corp. (NASDAQ: CVBF), holding company of Citizens Business Bank.
The transaction, valued at $885 million, is the largest bank merger in the United States since July 2017. It is the 95th publicly announced M&A advisory transaction for the D.A. Davidson Financial Institutions Group since 2011.
The merger is expected to strengthen Citizens Business Bank’s presence in southern California and merge institutions with complementary banking models and similar core values and corporate cultures. Upon completion of the merger, Community will operate as Citizens Business Bank. The transaction is expected to be completed in the third quarter of 2018.
Details of the transaction can be found here.