United Security Bancshares agrees to merge with Community West in all-stock deal valued at $191.9M

UNITED SECURITY BANCSHARES

All-stock merger: UBFO shareholders receive 0.4520 CWBC shares/share; deal valued at ~$191.9M based on CWBC close of $24.06 on Dec 16.
Combined company to have ~$5B total assets; UBFO shareholders will own ~29.4%, CWBC ~70.6%.
Transaction expected to close Q2 2026, subject to regulatory and shareholder approvals.
Two UBFO directors (Jagroop Gill plus one other) to join CWBC board; Dennis Woods to serve as Chairman Emeritus for two years.
Both boards unanimously approved; Piper Sandler advised UBFO, Janney Montgomery Scott advised CWBC.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

UNITED SECURITY BANCSHARES entered into Agreement and Plan of Merger (the “Merger Agreement”) with Community West Bancshares valued at implied total deal value is approximately $193.1 million (effective 2025-12-16).

Action: entry
Agreement: merger
Counterparty: Community West Bancshares
Value: implied total deal value is approximately $193.1 million
Effective: 2025-12-16

Exact text from the filing

On December 16, 2025, United Security Bancshares, a California corporation (the “Company”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Community West Bancshares, a California corporation (“CWBC”), pursuant to which the Company will merge with and into CWBC, with CWBC as the surviving corporation (the “Merger”).

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Source: SEC EDGAR

accession 0001137547-25-000130

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