Community West Bancshares Reports Earnings Results for the Quarter Ended September 30, 2024, and Quarterly Dividend

Business Wire 24-Oct-2024 4:00 PM

The Board of Directors of Community West Bancshares ("Company") (NASDAQ:CWBC), the parent company of Community West Bank ("Bank"), reported today unaudited consolidated net income of $3,385,000, and diluted earnings per common share of $0.18 for the three months ended September 30, 2024, compared to $6,390,000 and $0.54 per diluted common share for the three months ended September 30, 2023. For the full release, please visit one of the following: Community West Bank Newsroom https://www.communitywestbank.com/about/newsroom or CWBC Investor Relations https://ir.cvcb.com/news-market-information/press-releases/default.aspx.

Company Overview

Effective on April 1, 2024, Central Valley Community Bancorp completed its merger transaction with Community West Bancshares. Shortly thereafter Community West Bank, a wholly owned subsidiary of Community West Bancshares, merged with and into Central Valley Community Bank, a wholly-owned subsidiary of Central Valley Community Bancorp, with Central Valley Community Bank being the surviving banking institution. Effective with these mergers, the corporate names of Central Valley Community Bancorp and Central Valley Community Bank were changed to Community West Bancshares and Community West Bank, respectively.

Community West Bancshares ("Company") (NASDAQ:CWBC) and its wholly owned subsidiary, Community West Bank ("Bank"), are headquartered in Fresno, California. The Company was established in 1979 with the vision to help businesses and communities by exceeding expectations at every opportunity, and opened its first Banking Center on January 10, 1980. Today, the Bank operates full-service Banking Centers throughout Central California and maintains a variety of departments supporting Commercial Lending, Agribusiness, SBA, Residential Construction and Mortgage, Manufactured Housing, Private Banking and Cash Management.

Members of the Company and Bank Board of Directors are: Daniel J. Doyle (Chairman), Robert H. Bartlein (Vice Chairman), James J. Kim (CEO of the Company and President and CEO of the Bank), Martin E. Plourd (President of the Company and Director of the Bank), Suzanne M. Chadwick, Daniel N. Cunningham, Tom L. Dobyns, F.T. "Tommy" Elliott IV, Robert J. Flautt, James W. Lokey, Andriana D. Majarian, Steven D. McDonald, Dorothea D. Silva, William S. Smittcamp and Kirk B. Stovesand. Louis C. McMurray is Director Emeritus.

More information about Community West Bancshares and Community West Bank can be found at www.communitywestbank.com. Also, follow the Company on LinkedIn, X and Facebook.

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