CMUV Bancorp Shareholders Approve Asset Sale and Company Dissolution

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, paves the way for shareholders to receive cash distributions from the proceeds of the transaction, as detailed in the Proxy Statement dated June 5, 2025.

Shareholders are expected to receive approximately $25.00 per share, distributed in multiple installments, with the first distribution anticipated shortly after the closing of the asset sale to Frontwave, targeted for September 30, 2025. However, the completion of the transaction is still pending regulatory approvals.

Holders of stock certificates are advised to locate their certificates in preparation for the distribution process, while those holding shares through 'book entry' or a broker will not need to submit a certificate. Transmittal materials and instructions from Computershare, the company's exchange agent, will be sent to shareholders in the coming weeks, emphasizing the importance of prompt submission to avoid delays in receiving distributions.

Additionally, CMUV Bancorp will not issue dividends for the third quarter of 2025, as these amounts will be included in the distributions to shareholders following the transaction's completion.