CW BANCORP Quarterly Cash Dividend

Rhea-AI Summary

CW Bancorp (OTCQX: CWBK), the parent company of CommerceWest Bank, announced a quarterly cash dividend of $0.23 per common share. This dividend is payable on July 1, 2024, to shareholders of record as of June 14, 2024. CommerceWest Bank, founded in 2001 and headquartered in Irvine, California, focuses on providing customized banking solutions for small and medium-sized businesses across California. The bank offers a range of services including remote deposit solutions, online and mobile banking, lines of credit, commercial real estate loans, SBA loans, and treasury management services. The bank aims to provide a flexible, secure, and personalized banking experience.

Positive

• Quarterly dividend of $0.23 per common share declared.
• Dividend payable on July 1, 2024, to shareholders as of June 14, 2024.
• Focus on small and medium-sized businesses with customized products and services.
• Wide range of commercial banking services offered including online and mobile banking, lines of credit, and SBA loans.
• Strategically selected team of experienced professionals to ensure high-quality service.

Negative

• geographic focus, only serving businesses in California.
• Potential shareholder dilution if additional shares are issued in the future.

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 $0.23 per common share, payable July 1, 2024 to shareholders of record on June 14, 2024.

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/20240530064148/en/

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 quarterly dividend announced by CW Bancorp?

CW Bancorp announced a quarterly cash dividend of $0.23 per common share.

When is the CW Bancorp dividend payable?

The dividend is payable on July 1, 2024.

Who is eligible for the CW Bancorp dividend?

Shareholders of record as of June 14, 2024, are eligible for the dividend.

What services does CommerceWest Bank offer?

CommerceWest Bank offers services including remote deposit, online banking, mobile banking, lines of credit, M&A loans, commercial real estate loans, SBA loans, and treasury management.

Where is CommerceWest Bank headquartered?

CommerceWest Bank is headquartered in Irvine, California.

What is the mission of CommerceWest Bank?

The mission is to create a complete banking experience tailored to the specific needs of small and medium-sized businesses.