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Subsequent Events | 3 Months Ended
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Mar. 31, 2017
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events On April 19, 2017, the board of directors declared a $0.06 per share cash dividend payable on May 19, 2017 to shareholders of record as of May 5, 2017. On April 27, 2017, the Company and Folsom Lake Bank (“Folsom”) jointly announced the execution of a definitive agreement and plan of merger and reorganization whereby Folsom will merge with and into Central Valley Community Bank in a transaction valued at approximately $33.6 million. The board of directors of both companies approved the transaction, which is subject to customary closing conditions, including the approval of bank regulatory agencies and the shareholders of Folsom. Shareholders of Folsom will receive a fixed exchange ratio at closing of 0.80 shares of the Company’s common stock for each share of Folsom common stock. Based on the Company’s stock price as of April 27, 2017, total consideration for each Folsom share would have been $18.74. Folsom is headquartered in Folsom, California with approximately $202.7 million in assets at March 31, 2017, with three branches located in Folsom, Rancho Cordova and Roseville, California. As of March 31, 2017, on a pro forma consolidated basis, the combined company would have had approximately $1.7 billion in assets. The merger is expected to close before the end of 2017.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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