Manatt Financial Services leader Craig Miller and corporate and finance partner Veronica Lah led the firm’s representation of CVB Financial Corp., the holding company for Citizens Business Bank and one of the ten largest bank holding companies headquartered in California, in its $204 million acquisition of Suncrest Bank, a fast-growing commercial bank with offices located throughout California’s Central Valley.
The merger will increase Citizens’ total assets to approximately $17 billion and will add scale and market share to improve Citizens Business Bank’s competitive advantage and operating leverage in the state.
The chief executive officer of CVB Financial Corp. and Citizens Business Bank, David A. Brager, stated, “As the second-largest acquisition in our history, the acquisition of Suncrest will deliver important benefits to our combined customers through our increased presence in the Central Valley and expansion into Sacramento, a sizable and important new market for Citizens Business Bank that presents significant growth opportunities going forward.”
The Manatt deal team also included employment partner Sharon Bauman, tax partners Jeffrey Mannisto and David Herbst, and corporate and finance associate Lucille White.
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