CVB Financial Names Borba Jr. Chairman After $20B Asset Milestone
CVB Financial appointed George Borba Jr. as Chairman of its boards on May 20, 2026, while Hal Oswalt moved to Vice-Chairman. Under Oswalt's leadership, the bank surpassed $20 billion in assets through mergers with Heritage Commerce Corp and Heritage Bank of Commerce.
1. Leadership Transition
At the conclusion of its May 20 annual meeting, CVB Financial’s board elevated George A. Borba Jr. from Vice-Chairman to Chairman and designated Hal W. Oswalt as Vice-Chairman, with both assuming their new roles immediately to ensure continuity.
2. Asset Growth from Heritage Merger
During Oswalt’s chairmanship, the bank closed mergers with Heritage Commerce Corp and Heritage Bank of Commerce, pushing total assets past $20 billion and reinforcing its position among California’s ten largest bank holding companies.
3. Executive Backgrounds
Borba has served as a CVB director and Vice-Chairman since 2012 and leads George Borba & Son Dairy, Belonave Dairy and 5 Mile Ranch. Oswalt joined the board in 2014, became Chairman in 2022 and is credited with driving recent mergers and asset growth.