EQS-News: CMUV Bancorp Announces Results of the Special Meeting of Shareholders

EL CENTRO,CA - July 17, 2025 (NEWMEDIAWIRE) - We are pleased to announce that at a Special Meeting of shareholders of CMUV Bancorp, Inc. (the “Company”) held on July 15, 2025, our shareholders voted to approve:  the previously announced sale of the assets and assumption of liabilities of Community Valley Bank to Frontwave Credit Union (“Frontwave”) and subsequent dissolution of the Company (the “Transaction”). The cash distributions expected to be made to the shareholders of the proceeds of the Transaction are described in detail in the Proxy Statement mailed to you on June 5, 2025.

We still expect that shareholders will receive approximately $25.00 per share, which will be distributed to the holders of our common stock in multiple distributions.   The first distribution is expected to be made shortly following the closing of the sale of assets and assumption of liabilities by Frontwave, to shareholders who comply with the transmittal procedures.  That closing is anticipated to occur on or about September 30, 2025, but all the regulatory approvals required to complete the Transaction have not yet been received.

 Please Locate Your Stock Certificate.  If you hold your shares directly through Computershare and were issued a stock certificate for your shares, please find it and be ready to submit.  Your stock certificate will be needed in order for you to receive a distribution.  If you cannot find your stock certificate, please contact Monica Garcia, telephone, 760-352-1889, email, mgarcia@yourcvb.com as soon as possible. If you hold your shares by “book entry” or through your broker, you should not have a stock certificate and therefore will not be required to submit one.

Transmittal Materials - In the coming weeks, you will receive materials from Computershare, the Company’s exchange agent, that will include transmittal materials and instructions for you to return your stock certificate (unless you hold your shares in “book entry” form or through a broker). Please note that it is important that you return your transmittal materials to Computershare as soon as possible after you receive them to avoid a delay in receiving your distributions.

Dividends. The Company will not be issuing dividends for the third quarter of 2025. Instead, the amount of third quarter dividends will be included in the amount to be distributed to shareholders.

CONTACT:

Jon A Edney
7603521889
mediarelations@yourcvb.com

 

News Source: Community Valley Bank