Community West Bancshares Stock Price, News & Analysis

Community West Bancshares (CWBC) reported a 10.2% increase in net income for Q4 2021, totaling $2.9 million or $0.33 per diluted share, compared to Q4 2020. Full year net income reached a record $13.1 million, up 58.9% year-over-year. The bank experienced strong organic loan growth, with new loan commitments of $41.6 million in Q4, offsetting $14.8 million in PPP loan forgiveness. The Bank's total assets increased 1.9% year-over-year to $1.16 billion. A quarterly cash dividend of $0.07 per share was declared. Credit quality metrics showed improvement with a decrease in non-accrual loans.

Community West Bancshares (NASDAQ: CWBC) announced the appointment of Richard Pimentel as the new Chief Financial Officer, effective January 3, 2022. He succeeds Susan Thompson, who will continue with the finance team. Pimentel, with over 20 years of experience in community banking, previously served as CFO of CalPrivate Bank, aiding its growth from $850 million to $1.3 billion. The company also highlighted its status as a top-performing small capitalization institution by Piper Sandler and its “Super Premier Performance” rating by The Findley Reports.

Community West Bancshares (NASDAQ: CWBC) has appointed Celina L. Zacarias to its Board of Directors, effective immediately. Zacarias brings extensive experience in community outreach and government relations, holding positions at California State University Channel Islands and as a Harbor Commissioner. Her qualifications include a strong background in public relations and recognition as a top influencer in the Tri-Counties. Community West, which operates Community West Bank, serves California’s Central Coast, focusing on Relationship Banking and government lending.

Community West Bancshares (NASDAQ: CWBC) reported a 27.1% increase in net income to $3.6 million or $0.41 per diluted share for 3Q21, compared to the previous year. Year-to-date earnings reached $10.2 million, up 81.7% from 2020. Key factors included increased net interest income of $10.9 million and new loan commitments of $62.4 million. However, total loans decreased slightly by $2.7 million. The company declared a quarterly cash dividend of $0.07 per share, with stock performance recognized by industry accolades.

Community West Bancshares has announced the promotion of William F. Filippin to President of Community West Bank, effective October 1, 2021. Filippin, who has been with the bank since 2015, previously served as EVP, Chief Credit Officer. Jason Beitz has also been promoted to Chief Credit Officer. Under Filippin's leadership, the bank has grown to over $1 billion in assets and has received various accolades, including being named one of the top-performing small-cap institutions by Piper Sandler in September 2021.

Community West Bancshares, under the ticker CWBC, has been named one of the top performing small-cap banks by Piper Sandler in its 2021 Sm-All Stars report. Recognized for its growth, profitability, credit quality, and capital strength, Community West was among only three California institutions awarded this honor. To qualify, banks were evaluated on metrics like EPS growth, loan growth, and maintaining a NPA ratio below 1%. The award underscores the bank's commitment to delivering robust returns for its shareholders.

Community West Bancshares has extended its stock repurchase plan until August 31, 2023, with a remaining balance of $1,435,783 from the initial $4.5 million. The repurchase can occur in the open market or through private transactions. The company operates Community West Bank, serving California's Central Coast, and has received notable industry recognition, including a "Super Premier Performance" rating from The Findley Reports. These actions reflect the company's commitment to enhancing shareholder value.

Community West Bancshares (CWBC) reported a 17.5% increase in net income for 2Q21, totaling $3.6 million or $0.41 per diluted share, compared to $3.0 million in 1Q21 and $1.2 million in 2Q20. Year-to-date net income rose 138.3% to $6.6 million. Net interest income grew to $10.7 million, with a net interest margin of 4.24%. Total loans reached $893.3 million, with demand deposits at $651.9 million. The company declared a cash dividend of $0.07 per share, reflecting a positive outlook amid controlled asset quality.

Community West Bancshares (NASDAQ: CWBC) reported a 15.4% increase in net income to $3.0 million, or $0.35 per diluted share, for 1Q21, compared to $2.6 million in 4Q20 and $1.6 million in 1Q20. The company saw a growth in net interest income to $10 million, driven by loan originations and core deposit growth. Demand deposits rose by $57.2 million to $637.1 million. The net interest margin improved to 4.19%, and net non-accrual loans decreased by 51.3%. The bank's participation in the PPP program contributed significantly to its performance, with $22.8 million of loans forgiven in 1Q21.