CVB Financial and Bank of Redlands will merge.
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CVB Financial, parent of Chino Valley Bank, and Bank of Redlands said they have signed a letter of intent to consolidate the two Inland Empire banks. The agreement provides for the conversion of Bank of Redlands stock to CVB shares or cash. CVB has assets of $165 million and operates seven Chino Valley Bank branches, while Bank of Redlands has $120 million in assets and four branch offices. The proposed merger requires regulatory approvals and is subject to a vote by shareholders of both firms.
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