What are the key financial results reported by Community West Bancshares for the third quarter of 2024?

Community West Bancshares reported a net income of $3,385,000 and diluted earnings per share of $0.18 for Q3 2024, down from $6,390,000 and $0.54 per diluted share in Q3 2023.

What implications can be drawn from the decrease in profitability for Community West Bancshares?

The significant drop in net income and earnings per share may raise concerns regarding the company's profitability and overall performance year-over-year.

What major corporate change took place in April 2024 involving Community West Bancshares?

On April 1, 2024, Community West Bancshares completed a merger with Central Valley Community Bancorp, changing its corporate identity and structure following the merger.

What services does Community West Bank offer following its corporate restructuring?

Community West Bank operates full-service Banking Centers throughout Central California and offers various services including Commercial Lending, Agribusiness, and Private Banking.

Who are some of the members of the Board of Directors for Community West Bancshares?

The Board of Directors includes notable members such as Daniel J. Doyle, Robert H. Bartlein, and James J. Kim, among others, indicating a diverse leadership team.

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

10/24/24 4:00:00 PM ET

$CWBC

Major Banks

Finance

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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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241024657395/en/

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Date	Price Target	Rating	Analyst
11/10/2023	$15.00	Neutral → Buy	Janney
1/6/2022		Neutral	Janney

Date

Price Target

Rating

Analyst

11/10/2023

$15.00

Neutral → Buy

Janney

1/6/2022

Neutral

Janney

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

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Q&A

What are the key financial results reported by Community West Bancshares for the third quarter of 2024?

What implications can be drawn from the decrease in profitability for Community West Bancshares?

What major corporate change took place in April 2024 involving Community West Bancshares?

What services does Community West Bank offer following its corporate restructuring?

Who are some of the members of the Board of Directors for Community West Bancshares?

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$CWBC Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

Director Cunningham Daniel N gifted 6,200 units of CWBC - Common Stock, decreasing direct ownership by 6% to 105,934 units (SEC Form 4)

Director Bartlein Robert bought $37,500 worth of CWBC - Common Stock (2,000 units at $18.75), increasing direct ownership by 0.46% to 433,876 units (SEC Form 4)

EXECUTIVE VICE PRESIDENT Gilio Teresa covered exercise/tax liability with 968 units of CWBC - Common Stock, decreasing direct ownership by 7% to 13,324 units (SEC Form 4)

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