Announcement • Apr 03

+ 2 more updates

Central Valley Community Bancorp and Community West Bancshares Announce Board and Executive Changes

The Board of Directors of Central Valley Community Bancorp (Central Valley), the parent company of Central Valley Community Bank (CVCB), headquartered in Fresno, California, announced the successful completion of the merger with Community West Bancshares (Community West), the parent company of Community West Bank (the Bank), headquartered in Goleta, California, effective April 1, 2024. Community West Bancshares merged with and into Central Valley Community Bancorp, and Community West Bank merged with and into Central Valley Community Bank, creating a combined company in an all-stock merger transaction. As of the close of the transaction, the resulting company, with total assets of approximately $3.5 billion, retains the banking offices of both banks, adding Community West Bank’s seven full-service Banking Centers on the Central Coast to Central Valley Community Bank’s 20 full-service Banking Centers located throughout the Greater Sacramento and San Joaquin Valley regions. Central Valley Community Bancorp assumes the name Community West Bancshares and its NASDAQ ticker symbol (CWBC), and Central Valley Community Bank assumes the name Community West Bank to reflect the combined company’s expanded territory. The resulting company’s Board of Directors consists of 15 directors: nine from Central Valley and six from Community West. James J. Kim is the CEO of the combined company and President and CEO of the Bank. Daniel J. Doyle is the Chairman of the Board of the resulting company, serving with Robert H. Bartlein, Vice Chairman, and Martin E. Plourd, President and Director. The Board also welcomes the addition of Suzanne M. Chadwick, Thomas L. Dobyns, James W. Lokey and Kirk B. Stovesand. Retiring from the Central Valley Board of Directors effective April 1, 2024, are Gary D. Gall, Karen A. Musson and Louis C. McMurray, who has been named Director Emeritus. Joining the Bank’s Executive Management Team via the merger are two well-respected industry executives: William “Bill” F. Filippin, Executive Vice President (EVP) and Regional Executive for the Coast region, and T. Joseph Stronks, EVP and Chief Risk Officer. Teresa Gilio, EVP and Chief Administrative Officer, will retire after 15 years with the Bank, effective October 1, 2024. She will lead the systems integration expected to be completed mid-August 2024. To provide focused leadership in strategic areas of the expanded Bank, several members of existing executive management will reorganize. These include: Blaine C. Lauhon who will serve as EVP and Chief Administrative Officer, Jeffrey M. Martin who will serve as EVP and Chief Banking Officer and A. Ken Ramos who will serve as EVP and Regional Executive for the Greater Sacramento and San Joaquin Valley regions. Shannon Livingston, EVP and Chief Financial Officer, Patrick A. Luis, EVP and Chief Credit Officer, and Dawn Cagle, EVP and Chief Human Resources Officer, will continue in their current executive roles and leadership positions.

Announcement • Oct 12

Central Valley Community Bancorp (NasdaqCM:CVCY) entered into an agreement to acquire Community West Bancshares (NasdaqGM:CWBC) for $99.4 million.

Central Valley Community Bancorp (NasdaqCM:CVCY) entered into an agreement to acquire Community West Bancshares (NasdaqGM:CWBC) for $99.4 million on October 10, 2023. Upon consummation of the Merger, each share of Community West common stock, no par value per share (“Community West Common Stock”), outstanding immediately prior to the effective time of the Merger will be canceled and converted into the right to receive 0.79 of a share of Central Valley common stock, no par value (“Central Valley Common Stock”) (the “per share exchange ratio”). Any fractional shares will be paid in cash equal to the product of (i) such fraction, multiplied by the closing price of Central Valley’s Common Stock reported on NASDAQ on the last trading day preceding the closing date. Based on the closing price of Central Valley’s Common Stock on October 10, 2023, the aggregate merger consideration would be approximately $99.4 million, or $11.15 per share of Community West Common Stock. Pursuant to which Community West will merge with and into Central Valley in an all stock merger (the “Merger”), with Central Valley as the surviving corporation. Promptly following the completion of the Merger, Community West Bank, N.A. a national banking association chartered by the Office of the Comptroller of the Currency and a wholly owned subsidiary of Community West (“CWB”) will merge with and into Central Valley Community Bank. Prior to the closing of the merger, Central Valley and CVCB will take all action necessary to expand the size of their respective boards of directors to fifteen (15) members and appoint six (6) current members of the Community West and CWB board of directors to the Central Valley and CVCB board of directors, effective upon the closing of the merger. Subject to its fiduciary duty, the Central Valley board of directors also will recommend that these six new members be included as director candidates for election in the Central Valley proxy statement for the 2024 annual meeting of Central Valley shareholders. Three (3) current members of the Central Valley and CVCB board of directors will retire from their positions effective upon the closing of the merger. Prior to the closing of the merger, the board of directors of Central Valley will take all action necessary to establish an executive committee of the board of directors effective on the closing of the merger. The executive committee will be initially comprised of five (5) members. The initial members of the executive committee will be Daniel Doyle (current Chairman of the Board of Central Valley), Robert H. Bartlein, and James W. Lokey (current members of the Community West board of directors), and two (2) other current members of the Central Valley board of directors. James J. Kim, President and Chief Executive Officer of Central Valley and CVCB and Martin E. Plourd, the current President and Chief Executive Officer of Community West and Chief Executive Officer of CWB will serve as the initial advisors to the executive committee. Following the merger, Martin E. Plourd will assume the position of President of Central Valley. James J. Kim will continue as Chief Executive Officer of Central Valley and President and Chief Executive Officer of CVCB. Pursuant to the terms of the Merger Agreement, Central Valley has agreed to enter into an employment agreement with Martin E. Plourd which will become effective on the closing of the Merger. Plourd will join Central Valley as President of Central Valley. Upon closing, the combined company will have approximately $3.6 billion in total assets. Existing Central Valley Community Bancorp shareholders will own approximately 63% of the outstanding shares following the merger, and Community West Bancshares shareholders will own approximately 37%. Both Central Valley and Community West may mutually agree to terminate the Merger Agreement without further liability to the other. Community West must pay Central Valley a termination fee in the amount of $4 million if the Merger Agreement is terminated under certain circumstances. Completion of the Merger is subject to certain customary conditions, including (i) approval by Central Valley and Community West shareholders, (ii) regulatory approval, (iii) the absence of any governmental order or law prohibiting the consummation of the Merger, (iv) effectiveness of the Securities and Exchange Commission (“SEC”) registration statement for the Central Valley Common Stock to be issued as consideration in the Merger, and (v) the approval of such shares for listing on the Nasdaq Global Market. The obligation of each party to consummate the Merger is also conditioned upon (a) subject to certain exceptions, the accuracy of the representations and warranties of the other party, (b) performance in all material respects by the other party of its obligations under the Merger Agreement, (c) receipt by each party of a tax opinion to the effect that the Merger will qualify as a reorganization within the meaning of Section 368(a) of the Code, and (d) the absence of a material adverse effect with respect to the other party since the date of the Merger Agreement. The Central Valley Community Bancorp and Community West Bancshares boards of directors have unanimously approved the transaction, which is expected to close in the second quarter of 2024. Central Valley Community Bancorp received financial advisory services and a fairness opinion from Janney Montgomery Scott LLC, and Buchalter, a professional corporation, served as legal counsel. Community West Bancshares received financial advisory services and a fairness opinion from Piper Sandler & Co., and Husch Blackwell LLP served as legal counsel.

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Future Dividend Yield	0%
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Next dividend pay date	n/a
Ex dividend date	n/a
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Payout ratio	0%

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Company (CWBC)	0%
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Analyst forecast (CWBC) (up to 3 years)	0%

Data	Last Updated (UTC time)
Company Analysis	2026/06/17 23:59
End of Day Share Price	N/A
Earnings	N/A
Annual Earnings	N/A

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

This company has been acquired

Community West Bancshares Dividends and Buybacks

Dividend criteria checks 2/6

Key information

Recent dividend and buyback updates

Fourth quarter dividend of US$0.08 announced

Community West Bancshares Declares Quarterly Cash Dividend, Payable on February 29, 2024

Upcoming dividend of US$0.08 per share at 2.5% yield

Community West Bancshares Declares Quarterly Cash Dividend, Payable November 30, 2023

Upcoming dividend of US$0.08 per share at 2.3% yield

Community West Bancshares (NASDAQ:CWBC) Is Due To Pay A Dividend Of $0.08

Recent updates

Community West Bancshares Recent Acquisition Could Add Challenges

Community West Bancshares Requests NASDAQ to File Notification of Removal from Listing of the its Common Stock on Form 25 with the Securities and Exchange Commission

Central Valley Community Bancorp and Community West Bancshares Announce Board and Executive Changes

Independent Director notifies of intention to sell stock

Price target increased by 20% to US$18.00

Fourth quarter dividend of US$0.08 announced

New minor risk - Profit margin trend

Full year 2023 earnings released: EPS: US$0.83 (vs US$1.54 in FY 2022)

Community West Bancshares Declares Quarterly Cash Dividend, Payable on February 29, 2024

President notifies of intention to sell stock

Independent Chairman of the Board recently bought US$60k worth of stock

New major risk - Revenue and earnings growth

Upcoming dividend of US$0.08 per share at 2.5% yield

Third quarter 2023 earnings released: EPS: US$0.25 (vs US$0.40 in 3Q 2022)

Community West Bancshares Declares Quarterly Cash Dividend, Payable November 30, 2023

Central Valley Community Bancorp (NasdaqCM:CVCY) entered into an agreement to acquire Community West Bancshares (NasdaqGM:CWBC) for $99.4 million.

Upcoming dividend of US$0.08 per share at 2.3% yield

Community West Bancshares (NASDAQ:CWBC) Is Due To Pay A Dividend Of $0.08

Community West Bancshares Declares Quarterly Cash Dividend, Payable on August 31, 2023

Second quarter 2023 earnings released: EPS: US$0.24 (vs US$0.30 in 2Q 2022)

Independent Chairman of the Board recently bought US$110k worth of stock

Upcoming dividend of US$0.08 per share at 2.8% yield

Community West Bancshares (NASDAQ:CWBC) Is Increasing Its Dividend To $0.08

First quarter 2023 earnings released: EPS: US$0.28 (vs US$0.46 in 1Q 2022)

Investor sentiment deteriorates as stock falls 16%

Upcoming dividend of US$0.08 per share at 2.2% yield

Community West Bancshares Declares Increase of Its Quarterly Cash Dividend, Payable February 28, 2023

Full year 2022 earnings released: EPS: US$1.54 (vs US$1.53 in FY 2021)

Now 21% undervalued

Third quarter 2022 earnings released: EPS: US$0.40 (vs US$0.42 in 3Q 2021)

Upcoming dividend of US$0.075 per share

Community West Bancshares (NASDAQ:CWBC) Will Pay A Dividend Of $0.075

Community West Bancshares Declares Quarterly Cash Dividend, Payable on November 30, 2022

Third quarter 2022 earnings released: EPS: US$0.40 (vs US$0.42 in 3Q 2021)

Upcoming dividend of US$0.075 per share

Community West Bancshares (NASDAQ:CWBC) Will Pay A Dividend Of $0.075

Community West Bancshares Declares Quarterly Cash Dividend, Payable on August 31, 2022

Second quarter 2022 earnings released: EPS: US$0.30 (vs US$0.41 in 2Q 2021)

Community West Bancshares declares $0.075 dividend

Community West Bancshares Elects Board of Directors

Upcoming dividend of US$0.075 per share

Community West Bancshares' (NASDAQ:CWBC) Dividend Will Be Increased To US$0.075

Community West Bancshares Declares Quarterly Cash Dividend, Payable on May 31, 2022

First quarter 2022 earnings released: EPS: US$0.46 (vs US$0.36 in 1Q 2021)

Community West Bancshares, Annual General Meeting, May 26, 2022

Now 21% undervalued

Now 20% undervalued

Community West Bancshares Is Ready To Grow With Higher Rates

Upcoming dividend of US$0.07 per share

Community West Bancshares Declares Quarterly Cash Dividend, Payable on February 28, 2022

Full year 2021 earnings: EPS misses analyst expectations

Third quarter 2021 earnings released: EPS US$0.42 (vs US$0.34 in 3Q 2020)

Independent Chairman of the Board recently bought US$65k worth of stock

Second quarter 2021 earnings released: EPS US$0.42 (vs US$0.14 in 2Q 2020)

Community West Bancshares(NasdaqGM:CWBC) dropped from Russell Microcap Growth Index

Independent Director Jean Blois has left the company

Should You Be Adding Community West Bancshares (NASDAQ:CWBC) To Your Watchlist Today?

First quarter 2021 earnings released: EPS US$0.36 (vs US$0.19 in 1Q 2020)

Community West Bancshares Declares a Quarterly Cash Dividend, Payable May 31, 2021

Full year 2020 earnings released: EPS US$0.97 (vs US$0.94 in FY 2019)

Do Institutions Own Community West Bancshares (NASDAQ:CWBC) Shares?

Investor sentiment improved over the past week

New 90-day high: US$10.22

New 90-day high: US$9.29

Be Sure To Check Out Community West Bancshares (NASDAQ:CWBC) Before It Goes Ex-Dividend

Full year 2020 earnings released: EPS US$0.97 (vs US$0.94 in FY 2019)

New 90-day high: US$9.25

Is Community West Bancshares (NASDAQ:CWBC) A Great Dividend Stock?