CMUV Bancorp has reached a significant milestone by obtaining the necessary regulatory approvals for the sale of Community Valley Bank's assets to Frontwave Credit Union. This approval is a crucial step towards the eventual dissolution of both Community Valley Bank and CMUV Bancorp, a process that has also received the required corporate approvals. Shareholders of CMUV Bancorp are expected to receive approximately $25.00 per share, though this amount may be adjusted based on the costs associated with the dissolutions. The distribution to shareholders will occur in several phases, starting after the completion of the asset sale, which is anticipated to be around September 30, 2025, subject to standard closing conditions.
The transaction marks a significant transition for CMUV Bancorp, as it plans to halt the trading and quoting of its common stock on the OTCQB by approximately September 23, 2025, and will close its stock records at the same time. Following this date, the company's common stock will only represent the right to receive distributions. This step highlights the final phase of CMUV Bancorp's operational existence, shifting its focus towards meeting its obligations to shareholders.
The announcement includes forward-looking statements that acknowledge the uncertainties regarding the completion timeline of the transaction and the exact amounts to be distributed to shareholders. These statements are based on current management beliefs and available information, recognizing the potential for variability in outcomes. For more information, the original release is available on www.newmediawire.com.
The approval and forthcoming execution of the asset sale and dissolutions represent a pivotal moment for CMUV Bancorp, its shareholders, and the wider financial community, illustrating the evolving landscape of the banking and credit union sectors. This transaction not only enables the strategic reorganization of assets but also emphasizes the critical role of regulatory compliance and effective shareholder communication in major corporate actions.
