COMMUNITY WEST BANCSHARES /: M&A transaction — Central Valley completes merger with Community West; adopts name Community West Bancshares, ticker CWBC

COMMUNITY WEST BANCSHARES /

Merger effective April 1, 2024; Community West shareholders receive 0.79 shares of Central Valley stock per share.
Transaction valued at ~$143M based on Central Valley closing price of $19.89 on March 28, 2024.
Combined company has ~$3.5B assets; retains 27 full-service banking centers across Central Coast, Sacramento, San Joaquin Valley.
James J. Kim named CEO; Daniel J. Doyle Chairman; board consists of 9 from Central Valley, 6 from Community West.
New execs include William Filippin (EVP Coast Region) and T. Joseph Stronks (EVP CRO); Teresa Gilio to retire Oct 1, 2024.

item 2.01 item 3.01 item 3.03 item 5.01 item 5.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

COMMUNITY WEST BANCSHARES / underwent a change of control involving Central Valley Community Bancorp for 0.79 of a share of common stock of Central Valley for each share of Company common stock (closed 2024-04-01).

Action: change of control
Counterparty: Central Valley Community Bancorp
Consideration: 0.79 of a share of common stock of Central Valley for each share of Company common stock
Closing: 2024-04-01

Exact text from the filing

Merger ”, and collectively with the Corporate Merger, the “ Mergers ”). Pursuant to the Merger Agreement, shares of Company common stock were converted into the right to receive 0.79 of a share of common stock of Central Valley for each share of Company common stock held immediately prior to the Effective Time of the Corporate Merger, with cash to be paid in

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Source: SEC EDGAR

accession 0001171843-24-001856

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