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- Frontwave Credit Union to Acquire Community Valley Bank in $56.4M Deal
Frontwave Credit Union to Acquire Community Valley Bank in $56.4M Deal
Slice of Finance Team
30 Jan
Key Highlights:
Frontwave Credit Union to acquire Community Valley Bank (CVB) in an all-cash $56.4 million transaction.
The deal expands Frontwave’s presence into Imperial County, adding to its existing footprint in San Diego, Riverside, and San Bernardino Counties.
CVB customers will become Frontwave members, gaining access to expanded financial products and services.
The combined entity will have over $1.7 billion in assets and serve 130,000+ members at 18 locations.
The transaction is expected to close in the second half of 2025, pending regulatory and shareholder approvals.
Source: Direct
Notable Quotes:
“We believe that quality growth and diversification is essential to continued success in our industry, and we intend to achieve it both organically and through mergers or acquisitions.”
“Frontwave has demonstrated its commitment to community banking, and I am enthusiastic about the opportunity we have to partner with Frontwave.”
Why This Matters:
This acquisition represents a strategic expansion for Frontwave Credit Union, increasing its geographic reach and enhancing its service offerings. For CVB customers, the transition means access to a broader suite of financial products, including consumer banking, credit cards, investments, and insurance. Additionally, the deal underscores the growing trend of credit unions expanding via acquisitions to compete in the evolving financial services landscape. Once finalized, the transaction will position Frontwave as a regional banking leader in Southern California, strengthening its presence in key markets.