CMUV Bancorp Shareholders Approve Asset Sale and Company Dissolution
Shareholders of CMUV Bancorp have approved the sale of assets and assumption of liabilities to Frontwave Credit Union, leading to the company's dissolution and expected cash distributions of approximately $25.00 per share.
CMUV Bancorp, Inc. announced that its shareholders have approved the sale of assets and assumption of liabilities of Community Valley Bank to Frontwave Credit Union, along with the subsequent dissolution of the company. This decision, made during a Special Meeting on July 15, 2025, marks a significant step in the Transaction process, with shareholders expected to receive cash distributions of approximately $25.00 per share.
The first distribution is anticipated shortly after the closing of the sale, projected around September 30, 2025, pending regulatory approvals. Shareholders are advised to locate their stock certificates if held directly through Computershare, as these will be necessary to receive distributions. Those holding shares via 'book entry' or through a broker will not need to submit a certificate.
Transmittal materials from Computershare will be sent to shareholders in the coming weeks, detailing the process for returning stock certificates and ensuring timely distribution receipt. Notably, third-quarter dividends for 2025 will not be issued separately but will be included in the overall distribution amount to shareholders.