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Get filing alertsCVB Financial appoints Michael J. Maddox to board, expands to 11 directors
Filed July 23, 2026 · Period ending July 22, 2026 · ~1 min read
Key Changes
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Michael J. Maddox appointed to CVB Financial and Citizens Business Bank boards effective July 22, 2026, expanding both from 10 to 11 directors to enhance skill set mix, geographic representation, and diversity.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Maddox brings over 20 years of banking experience, including serving as CEO of CrossFirst Bankshares until its March 2025 merger with First Busey Corporation, then holding senior roles at the combined entity through January 2026.
Exhibit 99.1 view on EDGAR → -
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Maddox will serve on three company-level committees (Audit, Nominating and Corporate Governance, Compensation) and three bank-level committees (Risk Management, Balance Sheet Management, Trust Services).
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Maddox will receive a $77,000 annual director fee and a pro-rated restricted stock grant valued at approximately $70,833 (ten months of the $85,000 annual grant), to be awarded at the August 23, 2026 Compensation Committee meeting.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
Summary
CVB Financial Corp. expanded its board of directors from 10 to 11 members with the appointment of Michael J. Maddox, effective July 22, 2026. Maddox also joins the board of the company's banking subsidiary, Citizens Business Bank. The company states the expansion will enhance the boards' skill set mix, geographic representation, and diversity.
Maddox brings over 20 years of banking experience, most recently serving as CEO of CrossFirst Bankshares from June 2020 until its March 2025 merger with First Busey Corporation. He then held senior roles at the combined entity through January 2026. His expertise spans board governance, capital strategy, banking operations, risk management, market expansion, and organizational leadership.
He will serve on six committees across the company and bank boards, including Audit, Compensation, and Risk Management. This is a routine board expansion with standard director compensation. The appointment adds relevant banking experience to the board but does not signal any immediate strategic shift or operational concern.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On July 22, 2026, CVB Financial Corp. (the “Company”) announced the appointment of Michael J. Maddox as a Board Member, effective as of July 22, 2026. Mr. Maddox was also named a Director of Citizens Business Bank (the “Bank”), the Company’s wholly-owned banking subsidiary. Mr. Maddox will serve as a member of the Audit Committee, Nominating and Corporate Governance Committee and Compensation Committee of the Company. In addition, Mr. Maddox will serve on the Risk Management Committee, Balance Sheet Management Committee and Trust Services Committee of the Bank.
CVB Financial appointed Michael J. Maddox to its Board of Directors and to the board of its banking subsidiary, Citizens Business Bank, effective July 22, 2026. He will serve on three company-level committees (Audit, Nominating and Corporate Governance, and Compensation) and three bank-level committees (Risk Management, Balance Sheet Management, and Trust Services). This appointment expands the board from 10 to 11 directors to enhance skill set mix, geographic representation, and diversity.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
CVB Financial Corp. (NASDAQ: CVBF), the holding company for Citizens Business Bank, National Association, (the “Bank”), is pleased to announce the appointment of Michael J. Maddox as a Director of CVBF. Mr. Maddox has also been appointed to the Board of Directors of the Bank. His addition increases the number of board members for both CVBF and the Bank from 10 to 11.
CVB Financial Corp. appointed Michael J. Maddox to its board of directors and to the board of its subsidiary Citizens Business Bank. This appointment expands both boards from 10 to 11 members. Maddox brings over 20 years of banking experience, including serving as CEO of CrossFirst Bankshares until its 2025 merger with First Busey Corporation.
Added in current filing · view on EDGAR →
Mr. Maddox has over 20 years of banking experience. Mr. Maddox served as President and Chief Executive Officer of CrossFirst Bankshares, Inc. (Nasdaq: CFB) from June 1, 2020 and as Chief Executive Officer and a member of the board of CrossFirst Bank from November 2008 until their mergers with First Busey Corporation (Nasdaq: BUSE) and Busey Bank in March 2025. Mr. Maddox then served as President and Vice Chairman of First Busey Corporation and President and Chief Executive Officer of Busey Bank from March 2025 to January 2026.
Maddox served as CEO of CrossFirst Bankshares from June 2020 until its March 2025 merger with First Busey Corporation, then held senior roles at the combined entity through January 2026. His expertise includes board governance, capital strategy, banking operations, risk management, market expansion, and organizational leadership, which the company states aligns with its long-term strategic objectives.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 27, 2026 · How we verify