CVB Financial Corp. Appoints Michael J. Maddox to Board

What Happened

• CVB Financial Corp. (CVBF) announced on July 22, 2026 that Michael J. Maddox was appointed to the Company’s Board of Directors and to the Board of Citizens Business Bank, its wholly owned banking subsidiary, effective July 22, 2026. The appointment was disclosed in an 8‑K filed July 23, 2026.

Key Details

• Mr. Maddox will serve on the Company’s Audit Committee, Nominating & Corporate Governance Committee and Compensation Committee.
• At the Bank, he will serve on the Risk Management Committee, Balance Sheet Management Committee and Trust Services Committee.
• Compensation: $77,000 annual directors’ fee plus an initial grant of restricted stock pro‑rated from the standard $85,000 outside-director grant (pro‑rated for ~10 of 12 months since the May 20, 2026 grant date).
• Both the Company’s and the Bank’s boards were expanded from 10 to 11 directors (within each entity’s by‑laws); the filing reports no related-party transactions requiring disclosure under Item 404(a) of Regulation S‑K.

Why It Matters

• Board appointments can affect oversight of strategy, risk and governance. Maddox’s committee assignments (audit, risk, compensation, governance) place him in roles relevant to financial oversight and executive pay.
• The appointment increases annual board compensation expense (cash fee plus stock grant) and expands the boards to improve director skill mix, geographic representation and diversity, per the filing.