Business
CVB Financial Corp. Names George A. Borba Jr. Chairman of the Board; Prior Chairman Hal W. Oswalt Transitions to Vice Chairman
CVB Financial Corp. Names George A. Borba Jr. Chairman of the Board; Prior Chairman Hal W. Oswalt Transitions to Vice
About this update from Cvb Financial Corporation
[{"type":"text","content":"ONTARIO, Calif., May 21, 2026 (GLOBE NEWSWIRE) -- CVB Financial Corp. (NASDAQ: CVBF) and its principal subsidiary, Citizens Business Bank, National Association (“CBB,” and together with CVBF, the “Company”), today announced a planned leadership transition as part of its ongoing commitment to strong governance and continuity. At the conclusion of the Company’s annual meeting on May 20, 2026, it was decided that Hal W. Oswalt will transition from his role as Chairman to Vice-Chairman of the Boards of CVBF and CBB. At the same time, the Company’s Board of Directors also elected current director and Vice-Chairman George A. Borba Jr. as Chairman of the Boards of CVBF and CBB. Mr. Borba and Mr. Oswalt will assume their respective new roles immediately. Mr. Borba has served as a director and Vice Chairman of CVBF and CBB since 2012. Mr. Borba is a partner in George Borba & Son Dairy, L.P. and is currently President of Belonave Dairy and 5 Mile Ranch LLC, located in Bakersfield, California. Mr. Borba is active in the Bakersfield community and currently serves as a Board member of The Open Door Network, formerly known as the Bethany Homeless Shelter.Mr. Borba made the following statement: “Hal Oswalt has served with distinction as only the fifth Chairman in Citizens Business Bank’s 51-year history. His steady leadership and clear vision have played a pivotal role in driving the Company’s sustained growth and strong performance, positioning us among the top-performing banks in the nation. Under his guidance, we achieved significant milestones, including surpassing $20 billion in assets with the successful closing of our recent mergers with Heritage Commerce Corp and its principal banking subsidiary, Heritage Bank of Commerce. I am truly pleased that we will continue to benefit from his experience and insight as he transitions to Vice Chairman of our Boards.” Mr. Oswalt has served as a director of CVBF and CBB since 2014 and was appointed Chairman of the Boards of both entities in 2022. Mr. Oswalt added: “I determined the time was right to transition from Chairman and I took great confidence in knowing that George was prepared to assume this role. George is an experienced director and a distinguished professional who has earned the deep respect of both management and his fellow Board members. I am confident that our transition wil...