CW Bancorp Increases Quarterly Dividend 10% to $0.22 Per Share

Rhea-AI Summary

CW Bancorp (OTCQX: CWBK) has announced a 10% increase in its quarterly cash dividend, now at $0.22 per common share. This dividend is payable on April 1, 2022, to shareholders of record as of March 11, 2022. The bank, headquartered in Irvine, California, focuses on providing tailored banking solutions for small to medium-sized businesses, leveraging a digital banking platform. Their mission emphasizes a personalized banking experience aimed at meeting the unique needs of their clients.

Positive

• 10% increase in quarterly cash dividend to $0.22 per share.
• Dividend payment reflects confidence in financial health.

Negative

• None.

 

IRVINE, Calif.--(BUSINESS WIRE)-- CW BANCORP (OTCQX: CWBK), the parent company of CommerceWest Bank, announced the approval of a quarterly cash dividend by its Board of Directors. The Board of Directors declared a cash dividend of $0.22 per common share, up from the previous quarter by 10%, payable April 1, 2022 to shareholders of record on March 11, 2022.

CommerceWest Bank is determined to redefine banking for small and medium sized businesses by delivering on customized products and services. Founded in 2001 and headquartered in Irvine, California, the Bank serves businesses throughout the state of California with our digital banking platform. By employing a strategically selected team of experienced professionals, we will provide flexibility, create a complete, safe and sound banking experience for each client. We provide a wide range of commercial banking services, including, remote deposit solution, NetBanker online banking, mobile banking, lines of credit, M&A / working capital loans, commercial real estate loans, SBA loans and treasury management services.

Mission Statement: CommerceWest Bank will create a complete banking experience for each client, catering to businesses and their specific banking needs, while accommodating our clients and providing them high-quality, low stress and personally tailored banking and financial services.

Please visit www.cwbk.com to learn more about the bank. “BANK ON THE DIFFERENCE”

Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, loan production, balance sheet management, expanded net interest margin, the ability to control costs and expenses, interest rate changes, financial policies of the United States government and general economic conditions. The Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any forward-looking statements contained in this release to reflect future events or developments.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220228005108/en/

Bancorp Contact

CW Bancorp

Mr. Ivo A. Tjan, CEO

Ms. Leeann Cochran, CFO

Telephone: (866) 521-CWBK

E-mail: InvestorRelations@cwbk.com

Website: www.cwbk.com

“Bank on the Difference”

Source: CW Bancorp

FAQ

What is the new dividend amount declared by CW Bancorp?

The new dividend amount declared by CW Bancorp is $0.22 per common share.

When is the dividend payable for CW Bancorp?

The dividend is payable on April 1, 2022.

What date is the record for shareholders of CW Bancorp?

The record date for shareholders is March 11, 2022.

How much did CW Bancorp increase its dividend?

CW Bancorp increased its dividend by 10% from the previous quarter.