M&A Deal Summary

Citizens Business Bank Acquires Heritage Commerce

On December 17, 2025, Citizens Business Bank acquired financial services company Heritage Commerce for 811M USD

Acquisition Highlights
  • This is Citizens Business Bank’s 10th transaction in the Financial Services sector.
  • This is Citizens Business Bank’s largest (disclosed) transaction.
  • This is Citizens Business Bank’s 10th transaction in the United States.
  • This is Citizens Business Bank’s 9th transaction in California.

M&A Deal Summary

Date 2025-12-17
Target Heritage Commerce
Sector Financial Services
Buyer(s) Citizens Business Bank
Deal Type Add-on Acquisition
Deal Value 811M USD
Advisor(s) Piper Sandler & Co. (Financial)
Wachtell, Lipton, Rosen & Katz (Legal)

Target

Heritage Commerce

San Jose, California, United States
Heritage Commerce is a bank holding company, provides various commercial and personal banking services. Heritage Commerce was founded in 1994 and is based in San Jose, California.

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Buyer(S) 1

Buyer

Citizens Business Bank

Ontario, California, United States

Category Company
Founded 1974
Sector Financial Services
Employees1,089
Revenue 476M USD (2024)
DESCRIPTION

Citizens Business Bank holding company for citizens business bank provides financial services. Citizens Business Bank was incorporated in 1974 and is based in Ontario, California.


DEAL STATS #
Overall 10 of 10
Sector: Financial Services M&A 10 of 10
Type: Add-on Acquisition M&A Deals 6 of 6
State: California M&A 9 of 9
Country: United States M&A 10 of 10
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-27 Suncrest Bank

Visalia, California, United States

Suncrest Bank offers a full range of commercial, small business, and agribusiness loans, cash management services, and personal deposit products throughout the Central Valley of California and the Greater Sacramento Region. Suncrest Bank was formed in 2008 and is based in Visalia, California.

Buy $204M