CMUV Bancorp, Inc. has reached a significant milestone as its shareholders approved the sale of Community Valley Bank's assets and liabilities to Frontwave Credit Union, alongside the company's dissolution. This approval, secured during a Special Meeting on July 15, 2025, facilitates cash distributions to shareholders from the transaction's proceeds, with estimates around $25.00 per share. The initial distribution is expected shortly after the asset sale's closure, anticipated by September 30, 2025, subject to regulatory approvals.
Shareholders are urged to locate their stock certificates if held directly through Computershare, as these documents are essential for receiving distributions. However, those with shares held via 'book entry' or through a broker are exempt from this requirement. In the upcoming weeks, Computershare, serving as the exchange agent, will dispatch transmittal materials to shareholders. These materials will outline the process for returning stock certificates and instructions for the distribution, with a strong recommendation for prompt submission to prevent payment delays.
Furthermore, CMUV Bancorp clarified that third-quarter dividends for 2025 will not be issued separately but will be incorporated into the distribution amounts allocated to shareholders. This strategic move streamlines the process, ensuring shareholders receive their entitled proceeds efficiently.
