New York, May 29, 2026, 13:04 (EDT)
- CVB Financial ticked up 0.3% to $20.48 in early afternoon trading. The SPDR S&P Regional Banking ETF was up 0.2%.
- General Counsel Richard Wohl will retire June 5, the company said in a May 26 SEC filing. His accelerated equity vesting is valued at about $364,346.
- CVB is set to fold Heritage Commerce into its results for the second quarter. The merger closed April 17.
CVB Financial Corp. shares edged higher Friday, holding near the session highs. Traders took in a fresh executive filing and awaited results from the bank, now reporting its first complete quarter since adding Heritage Commerce Corp.
The stock was lately up 0.3% at $20.48, with about 352,000 shares trading. The Nasdaq-listed lender had a market cap near $3.61 billion, market data showed.
CVB’s latest move is small, but the timing is unusual. The bank bulked up in California when it finished the all-stock Heritage deal on April 17. The company said the deal took Citizens Business Bank above $20 billion in assets. Loans are now roughly $12 billion. Deposits and customer repo agreements at about $17 billion.
CVB disclosed in a May 26 filing that Richard Wohl is leaving his roles as executive vice president and general counsel at both CVB and Citizens Business Bank effective June 5. The compensation committee approved early vesting on his restricted stock and performance stock units granted since October 2011.
This isn’t a straight balance-sheet move. But investors are watching how management handles the aftermath of the Heritage deal, which pushed CVB into the Bay Area and added to its California business banking scale.
CVB reported net income of $51.0 million for the first quarter, or 38 cents per share. That was down from $55.0 million in the prior quarter but just under the $51.1 million posted a year earlier. Net interest margin slipped 5 basis points from the previous quarter to 3.44%, but was up 13 basis points over last year. One basis point is one-hundredth of a percentage point.
CEO David Brager called the Heritage deal “the most strategic and largest acquisition by asset size in our history.” He said it pushes the bank’s plan to expand across California and enter the Bay Area. Citizens Business Bank
Brager told analysts on the Q1 call that staff from New Heritage are still moving onto CVB’s systems and culture. “That’s not an event, it’s a process,” he said. The Motley Fool
Regional bank stocks traded mixed, but SPDR S&P Regional Banking ETF managed to add 0.2%. Western Alliance advanced 1.6%. Banc of California gained 0.8%. East West Bancorp slipped 0.3%.
Credit and funding costs keep weighing on results. On the call, Brager said CVB’s loan pipelines are “relatively strong,” but stressed that competition on rates for good loans is still intense. That matters as the bank tries to protect margins while pulling in Heritage clients. The Motley Fool
But pressure could build if loan pricing tightens or credit costs rise. CVB put $3.0 million toward credit loss provisions in the first quarter, flipping from recaptures seen last quarter and a year ago. Most of it was due to a reserve on a single commercial and industrial loan.
So far the stock is modestly higher, moving with other regional banks and not making a big move on the filing. The bigger question is second-quarter earnings. That’s when investors will see what CVB looks like after folding in Heritage and whether the increased scale pays off or if integration and funding costs weigh more.
