Business Context and Reporting Period
This Form 8-K filing by Central Valley Community Bancorp (CVCY) reports on events occurring on December 31, 2004. The registrant is a California-based financial institution headquartered in Clovis, California.
Key Financial Metrics and Transaction Details
The filing details the completion of a merger between Central Valley Community Bancorp and Bank of Madera County.
- Transaction Value: $12.40 million (combined cash and stock).
- Price Per Share: Approximately $26.22 per share of Bank of Madera County common stock.
- Acquirer Assets (as of Sept 30, 2004): $357 million.
- Target Assets (as of Sept 30, 2004): Approximately $63 million.
The filing does not provide specific revenue, profit, cash flow, margin, debt, or liquidity figures for the reporting period.
Material Changes
The primary material change is the consolidation of Bank of Madera County into Central Valley Community Bank, the wholly owned subsidiary of the registrant. This acquisition increases the asset base of the combined entity, though specific post-merger asset totals are not disclosed in this text.
Outlook, Risks, and Management Commentary
Management commentary is limited to the announcement of the transaction's completion. The filing references a press release (Exhibit 99.1) for further details but does not contain specific forward-looking guidance, risk factors, or contingencies within the provided text.
Key Facts for Investor Verification
- Verify the exact cash versus stock split of the $12.40 million transaction value.
- Confirm the pro-forma asset total and any immediate impact on capital ratios following the merger.
- Review the attached press release (Exhibit 99.1) for integration plans and expected synergies.
- Check subsequent filings for the impact of this acquisition on the company's loan portfolio and deposit base.