UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
Form 8-K
_____________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event Reported): September 15, 2017
COMMUNITY WEST BANCSHARES
(Exact Name of Registrant as Specified in Charter)
| California | 000-23575 | 77-0446957 |
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) |
| 445 Pine Avenue, Goleta, California 93117 |
| (Address of Principal Executive Offices) (Zip Code) |
(805) 692-5821
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | ||
| [ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| [ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| [ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 15, 2017, Community West Bancshares, parent company of Community West Bank (Bank), today announced that Kristine D. Price plans to retire on February 28, 2018. Prior to her retirement, she will assist in the transition to the successor Chief Credit Officer.
Item 9.01. Financial Statements and Exhibits.
Exhibit 99.1 Press Release dated September 15, 2017, titled “Community West Bank Announces CCO Price to Retire February 2018.”
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| COMMUNITY WEST BANCSHARES | ||
| Date: September 15, 2017 | By: | /s/ Susan C. Thompson |
| Susan C. Thompson | ||
| Executive Vice President and CFO | ||
EXHIBIT 99.1
Community West Bank Announces CCO Price to Retire February 2018
GOLETA, Calif., Sept. 15, 2017 (GLOBE NEWSWIRE) -- Community West Bancshares, (NASDAQ:CWBC), parent company of Community West Bank, today announced that Kristine D. Price plans to retire on February 28, 2018 as Executive Vice President and Chief Credit Officer. Ms. Price will assist in the transition to the successor Chief Credit Officer.
“Kristine and I have had the opportunity to work together on three separate occasions throughout her banking career,” said Martin E. Plourd, President and Chief Executive Officer. “She is a highly skilled, respected and trusted member of our executive team, and has contributed significantly to the growth of our bank and credit quality management. We wish Kristine well and are thankful for her years of service to Community West Bank.”
About Community West Bank
Community West Bank is the largest publicly traded and only community bank headquartered and serving California’s Central Coast area of Ventura, Santa Barbara and San Luis Obispo counties with seven full-service banking branch offices in Goleta, Oxnard, San Luis Obispo, Santa Barbara, Santa Maria, Ventura and Westlake Village and a loan production office in Paso Robles. Founded in 1989, the bank has grown to $785 million in assets at June 30, 2017. Community West Bank is a wholly owned subsidiary of Community West Bancshares (NASDAQ:CWBC), a financial services company with headquarters in Goleta, California. In April 2017, Community West Bank was awarded a “Super Premier” rating by The Findley Reports, the highest ranking for a community bank. In making their selections, The Findley Reports focuses on these four ratios: growth, return on beginning equity, net operating income as a percentage of average assets, and loan losses as a percentage of gross loans. For more information, visit www.CommunityWestBank.com.
Safe Harbor Disclosure
This release contains forward-looking statements that reflect management’s current views of future events and operations. These forward-looking statements are based on information currently available to the Company as of the date of this release. It is important to note that these forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including, but not limited to, the ability of the Company to implement its strategy and expand its lending operations.
Contact: Martin E. Plourd, President and CEO
(805) 692-4382