Investing In Relationships Throughout Central California

Central Valley Community Bancorp/Bank and Community West Bancshares/Bank announced the successful completion of their merger on April 1, 2024. The merger created a combined Company in an all-stock transaction valued at approximately $143 million, based on the $19.89 per share closing price of Central Valley Community Bancorp’s common stock on March 28, 2024. As of the close of the transaction, the resulting Company, with total assets of approximately $3.5 billion, is one of the largest community banks headquartered in Central California.

The resulting Company’s Board of Directors consists of 15 directors: nine from Central Valley Community Bancorp and six from Community West Bancshares. James J. Kim is the CEO of the combined Company and President and CEO of the Bank. Daniel J. Doyle is the Chairman of the Board of the resulting Company, serving with Robert H. Bartlein, Vice Chairman, and Martin E. Plourd, President and Director.

The combined Company assumed the operating names of Community West Bancshares (NASDAQ ticker symbol, CWBC) and Community West Bank to reflect the expanded territory from Greater Sacramento, throughout the San Joaquin Valley and to the Central Coast.

“The uniting of our two extraordinary banks and complementary cultures into a single, combined Company has strengthened our team of banking professionals and expanded territory as a community bank, just as the founders of both banks envisioned,” Kim stated. “All of which we expect to bring further shareholder value in the years to come.”  

This article was originally published in the Quarterly Report Newsletter, 2nd Quarter 2024. Click here to download the full report.