CW BANCORP Quarterly Cash Dividend

Rhea-AI Summary

CW Bancorp (OTCQX: CWBK) has declared a quarterly cash dividend of $0.22 per share, payable on July 1, 2022, to shareholders of record as of June 10, 2022. The company aims to redefine banking for small and medium-sized businesses by offering tailored products and services from its headquarters in Irvine, California. With a focus on digital banking and a range of commercial services, CommerceWest Bank seeks to create a comprehensive banking experience for clients.

Positive

• Declared cash dividend of $0.22 per share
• Commitment to redefine banking for small and medium businesses
• Strong emphasis on digital banking services

Negative

• Risks associated with forward-looking statements regarding growth and income
• Economic conditions potentially impacting performance

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, payable July 1, 2022 to shareholders of record on June 10, 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/20220531005189/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 dividend amount declared by CWBK?

CWBK has declared a cash dividend of $0.22 per share.

When is the CWBK dividend payment date?

The dividend payment date is July 1, 2022.

Who are eligible shareholders for the CWBK dividend?

Shareholders of record as of June 10, 2022, are eligible for the dividend.

How often does CWBK pay dividends?

CWBK typically pays dividends quarterly.

What are the risks associated with CWBK's future performance?

CWBK faces risks related to economic conditions and managing costs and expenses.