Community West Bancshares - CWBC STOCK NEWS

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.

Community West Bancshares (CWBC) reported net income of $2.6 million ($0.31 per diluted share) for 4Q20, a decrease from $2.9 million in 3Q20. However, full-year 2020 net income rose 3.5% to $8.2 million ($0.97 per diluted share). Key highlights include increased net interest income of $9.8 million and a deferred loan program serving 93% repayment. The company declared a 20% dividend increase to $0.06 per share, payable on February 26, 2021. Despite some non-accrual loans increasing to $3.7 million, the bank's leverage ratio improved to 9.29%. Overall, Community West shows resilience amid economic challenges.

Community West Bancshares (NASDAQ: CWBC) reported a significant net income increase to $2.9 million, or $0.33 per diluted share in 3Q20, up from $1.2 million, or $0.14 in 2Q20. Total loans stood at $854.5 million, with net interest margin at 3.76%. A cash dividend of $0.05 per common share was declared, payable November 30, 2020. Demand deposits rose by $41.2 million to $545.2 million. The Company is cautiously monitoring loan deferrals, with approximately 88% of loans resuming payments.

Community West Bancshares (CWBC) announced the election of Suzanne Chadwick and Christopher Raffo to its Board of Directors. Chadwick, with over 20 years at Santa Barbara Bank and Trust, brings expertise in client relationships, while Raffo offers 35 years of banking and capital markets experience. Chairman William Peeples expressed confidence in their ability to support the company's growth in California's Central Coast area. Community West Bank, with seven branches, specializes in relationship banking and has recently received a "Premier" rating from The Findley Reports.