CMUV Bancorp Shareholders Approve Asset Sale to Frontwave Credit Union

CMUV Bancorp, Inc. has reached a significant milestone as its shareholders voted in favor of selling the assets and liabilities of Community Valley Bank to Frontwave Credit Union during a Special Meeting held on July 15, 2025. This approval sets the stage for the company's dissolution and enables shareholders to receive cash distributions estimated at approximately $25.00 per share from the transaction's proceeds.

The initial distribution is expected to occur shortly after the completion of the asset sale to Frontwave, anticipated around September 30, 2025, subject to regulatory approvals. Shareholders holding stock certificates directly through Computershare are urged to locate them, as these documents will be essential for receiving distributions. However, those with shares held in 'book entry' form or through a broker will not need to present a certificate.

Computershare, serving as the exchange agent, will dispatch transmittal materials to shareholders in the upcoming weeks. These materials will include instructions on how to return stock certificates and details regarding the distribution process. The company has stressed the importance of promptly returning these materials to ensure timely payment. Furthermore, CMUV Bancorp has clarified that third-quarter dividends for 2025 will not be issued separately but will be incorporated into the distribution amounts to shareholders.

This development marks a pivotal moment for CMUV Bancorp, Inc. and its shareholders, reflecting strategic decisions that align with the evolving landscape of the financial services industry. The transaction not only signifies the end of an era for Community Valley Bank but also highlights the growing trend of credit unions expanding their footprint through acquisitions. For shareholders, the approval brings the prospect of immediate financial returns, while the broader industry may see this as a case study in the consolidation and transformation within the banking sector.