CVBF - CVB Financial gets regulatory approvals to buy Suncrest Bank

CVB Financial's (NASDAQ:CVBF) Citizens Business Bank receives regulatory approvals from the Federal Deposit Insurance Corporation and the California Department of Financial Protection and Innovation to complete its merger with Suncrest bank (OTCQX:SBKK). The companies expect to begin the merger on or about Jan. 7 of next year. The deal allow for "Citizens Business Bank to expand our presence northward to the Sacramento area and to bolster our already strong position in the important Central Valley region of California," CVB Financial President and CEO David A. Bragger says. Previously, (July 27) CVB Financial and Sunscrest Bank will merge in a stock and cash transaction.

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CVB Financial gets regulatory approvals to buy Suncrest Bank