Community West Bancshares Named to American Banker Magazine Top 200 Publicly Traded Community Banks
GOLETA, Calif., June 13, 2022 (GLOBE NEWSWIRE) — Community West Bancshares (NASDAQ: CWBC), parent company of Community West Bank, announced its inclusion in American Banker magazine’s annual list of Top 200 Publicly Traded Community Banks and Thrifts.
In its May 2022 issue, American Banker ranked Community West Bancshares 125th on its Top 200 Publicly Traded Community Banks and Thrifts list based on three-year average return on equity (“ROE”) as of 12/31/2021 (Source: Capital Performance Group). The rankings include publicly-traded banks and thrifts with less than $2 billion in assets.
“American Banker is a highly respected industry publication and it is an honor to be so favorably recognized on this prestigious list of community banks,” said Marty Plourd, Chief Executive Officer. “Our bank’s success is due to our employees’ dedication to helping local families and businesses reach their financial goals, focusing on strong relationships with our clients and communities on California’s central coast.”
About Community West Bank
Community West Bank is a wholly owned subsidiary of Community West Bancshares (NASDAQ: CWBC), a financial services company with headquarters in Goleta, California. Community West Bank first opened its doors on August 21, 1989 as Goleta National Bank, at 5827 Hollister Avenue – a site that remains a Community West Bank branch office today. The bank changed its name to Community West Bank in September 2004 to better reflect its growth beyond Santa Barbara County. Community West Bank is the largest publicly traded and only community bank headquartered and serving California’s Central Coast area of Ventura, Santa Barbara and San Luis Obispo counties with full-service banking branch offices in Goleta, Oxnard, Paso Robles, San Luis Obispo, Santa Barbara, Santa Maria and Ventura and has grown to over one billion dollars in assets. For more information, visit www.CommunityWestBank.com.
Industry Accolades
Community West was named to Piper Sandler’s Bank and Thrift Sm-All Stars – Class of 2021. This award recognized Community West as one of the top 35 best performing small capitalization institutions from a list of publicly traded banks and thrifts in the U.S. with market capitalizations less than $2.5 billion.
Community West Bank was awarded a “Super Premier Performance” rating by The Findley Reports. For 52 years, The Findley Reports has been recognizing the financial performance of banking institutions in California and the Western United States. Community West Bank is rated 5-star Superior by Bauer Financial.
Safe Harbor Disclosure
This release contains certain forward-looking statements about the Company and the Bank that are intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. Statements that are not historical or current facts, including statements about future financial and operational results, expectations, or intentions are forward-looking statements. Such statements reflect management’s current views of future events and operations. These forward-looking statements are based on information currently available to the Company as of the date of this release. It is important to note that these forward-looking statements are not guarantees of future performance and involve and are subject to significant risks, contingencies, and uncertainties, many of which are difficult to predict and are generally beyond our control including, but not limited to, risks from the COVID-19 pandemic, the strength of the United States economy in general and of the local economies in which we conduct operations, the effect of, and changes in, trade, monetary and fiscal policies and laws, including changes in interest rate policies of the Board of Governors of the Federal Reserve System, inflation, weather, natural disasters, climate change, increased unemployment, deterioration in credit quality of our loan portfolio and/or the value of the collateral securing the repayment of those loans, reduction in the value of our investment securities, the costs and effects of litigation and of adverse outcomes of such litigation, the cost and ability to attract and retain key employees, a breach of our operational or security systems, policies or procedures including cyber-attacks on us or third party vendors or service providers, regulatory or legal developments, United States tax policies, including our effective income tax rate, and our ability to implement and execute our business plan and strategy and expand our operations as provided therein. Actual results may differ materially from those set forth or implied in the forward-looking statements as a result of a variety of factors including the risk factors contained in documents filed by the Company with the Securities and Exchange Commission and are available in the “Investor Relations” section of our website, https://www.communitywest.com/sec-filings/documents/default.aspx. The Company is under no obligation (and expressly disclaims any obligation) to update or alter such forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Contact:
Martin E. Plourd, Chief Executive Officer
(805) 692-4382
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