CMUV Bancorp Shareholders Approve Asset Sale and Company Dissolution

CMUV Bancorp, Inc. has announced the results of a Special Meeting of shareholders held on July 15, 2025, where the sale of assets and assumption of liabilities of Community Valley Bank to Frontwave Credit Union, along with the subsequent dissolution of the Company, was approved. This decision marks a significant step in the Transaction process, as detailed in the Proxy Statement mailed to shareholders on June 5, 2025.

Shareholders are expected to receive approximately $25.00 per share, distributed in multiple installments. The first distribution is anticipated shortly after the closing of the asset sale to Frontwave, which is projected for on or about September 30, 2025, pending regulatory approvals. Shareholders are urged 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.

In the coming weeks, transmittal materials from Computershare, the Company’s exchange agent, will be sent to shareholders. These materials will include instructions for returning stock certificates and are critical for ensuring timely distribution payments. Shareholders are advised to act promptly upon receipt to avoid delays.

Additionally, the Company has confirmed that no dividends will be issued for the third quarter of 2025. Instead, the amount that would have been distributed as dividends will be included in the overall distribution to shareholders following the completion of the Transaction.