CVB Financial Corp. Director Passes Away

Rhea-AI Summary

CVB Financial Corp. (NASDAQ: CVBF) announces the passing of esteemed board member Rodrigo Guerra, Jr. on November 4, 2022. Mr. Guerra was a pivotal presence on the boards since 2017, contributing significantly as Chair of the Nominating and Corporate Governance Committee and as a member of several other key committees. He was also a partner at Skadden, Arps, Slate, Meagher & Flom, LLP. The company expresses deep condolences, highlighting Mr. Guerra's invaluable insights and contributions that enhanced board effectiveness. CVBF remains a top California bank with over $16 billion in assets.

Positive

• CVB Financial Corp. maintains strong governance with experienced board members.
• The company represents one of the largest bank holding companies in California.

Negative

• Loss of a key board member could impact corporate governance and strategic direction.

ONTARIO, Calif., Nov. 04, 2022 (GLOBE NEWSWIRE) -- It is with great sadness that the Boards of Directors of CVB Financial Corp. (NASDAQ: CVBF) and Citizens Business Bank (CBB) announced the passing of Rodrigo Guerra, Jr., one of our esteemed directors.

Mr. Guerra joined our Boards in 2017, he most recently served as Chair of CVBF’s Nominating and Corporate Governance Committee, and as a member of CVBF’s Audit and Compensation Committees, while also serving as a member of CBB’s Balance Sheet Management, Risk Management and Trust Services Committees. Prior to joining our Boards, Mr. Guerra was a longtime partner at the prominent law firm of Skadden, Arps, Slate, Meagher & Flom, LLP, where he represented leading companies and investment banks in a broad range of corporate and financial transactions.

“Rod was a tremendous addition to our Boards, and we all benefitted from his keen insights and broad experience,” said Hal W. Oswalt, Chairman of the Boards of CVBF and CBB. “I know all of us appreciated the intellect, thoughtfulness and enthusiasm he brought to our Boards.  He made us all better Board members,” continued Mr. Oswalt. David A. Brager, President and CEO of CVBF and CBB, commented as follows: “We are deeply saddened to lose Rod. We will be forever grateful for his friendship and stellar service to our organization. It has been a privilege to work alongside him, and his family is in our thoughts and prayers.”

Corporate Overview

CVB Financial Corp. (“CVBF”) is the holding company for Citizens Business Bank. CVBF is one of the 10 largest bank holding companies headquartered in California with over $16 billion in total assets. Citizens Business Bank is consistently recognized as one of the top performing banks in the nation and offers a wide array of banking, lending and investing services with more than 60 banking centers and 4 trust office locations serving California. Shares of CVB Financial Corp. common stock are listed on the NASDAQ under the ticker symbol “CVBF”. For investor information on CVB Financial Corp., visit our Citizens Business Bank website at www.cbbank.com and click on the “Investors” tab.

Forward Looking Statements

This presentation may contain forward-looking statements that are intended to be covered by the safe harbor for such statements provided by the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of the management of CVB Financial Corp. and Citizens Business Bank (collectively, the “Company”) and are subject to significant risks and uncertainties that could cause actual results or performance to differ materially from those projected. You should not place undue reliance on these statements. Factors that could cause the Company’s actual results to differ materially from those described in the forward-looking statements include, among others, changes in the U.S. economy or local, regional and global business, economic and political conditions; the impacts of the ongoing COVID-19 pandemic; changes in laws or the regulatory environment, including trade, monetary and fiscal policies and laws; inflation or deflation, interest rate, market and monetary fluctuations; the effect of acquisitions we have made or may make; changes in the competitive environment, including technological changes; cybersecurity and fraud threats; changes in the commercial and residential real estate markets; changes in customer preferences, borrowing and savings habits; geopolitical conditions, threats of terrorism or military action, catastrophic events or natural disasters such as earthquakes, drought, pandemics, climate change and extreme weather; and unanticipated legal or regulatory proceedings. These factors also include those contained in the Company’s filings with the Securities and Exchange Commission, including the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements that the Company or its management may make from time to time. These forward-looking statements speak solely as of the date they are made and are based only on information then actually known to the Company’s executives who are making the associated statements. The Company does not undertake to update any forward-looking statements except as required by law.

Contact: David A. Brager
President and Chief Executive Officer
(909) 980-4030

FAQ

What happened to Rodrigo Guerra, Jr.?

Rodrigo Guerra, Jr. passed away, as announced by CVB Financial Corp. on November 4, 2022.

What committees was Rodrigo Guerra, Jr. part of at CVB Financial?

He served as Chair of the Nominating and Corporate Governance Committee and was a member of the Audit and Compensation Committees, among others.

How long was Rodrigo Guerra, Jr. on the Board of CVB Financial?

Rodrigo Guerra, Jr. joined the boards in 2017.

What is the significance of Rodrigo Guerra, Jr.'s contributions to CVB Financial?

His insights and experience were valued, enhancing the boards' effectiveness and decision-making.