--- schema_version: "secwatch.filing_event.v1" accession: "0001193125-24-085373" form_type: "8-K" ticker: "CWBC" cik: "0001127371" company_name: "Community West Bancshares" filed_at: "2024-04-03T23:59:59+00:00" generated_at: "2026-06-04T02:43:30.716830+00:00" event_type: "m_and_a" sentiment: "neutral" materiality_score: 0.8 calibrated_materiality_score: 0.8 confidence: "high" source: SEC EDGAR --- # Central Valley completes Community West merger, becomes Community West Bancshares with ~$3.5B assets ## Summary - Community West shareholders receive 0.79 shares of Central Valley stock per share; total consideration ~$143M based on $19.89 stock price. - Combined entity has ~$3.5B total assets, retains all 27 bank branches across Central Coast, Sacramento, San Joaquin Valley. - Board expands to 15 directors, adding six from Community West; three Central Valley directors retire, one becomes Director Emeritus. - Martin Plourd named President; James Kim remains CEO. Executive team includes Filippin and Stronks; Gilio to retire Oct 1, 2024. ## SEC filing metadata - accession: 0001193125-24-085373 - form_type: 8-K - ticker: CWBC - cik: 0001127371 - company_name: Community West Bancshares - filed_at: 2024-04-03T23:59:59+00:00 - event_type: m_and_a - sentiment: neutral - materiality_score: 0.8 - calibrated_materiality_score: 0.8 - confidence: high - sec_items: 2.01, 5.02, 5.03, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1127371/000119312524085373/0001193125-24-085373-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1127371/000119312524085373/d815127d8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001193125-24-085373 - JSON: https://secwatch.observer/filing/0001193125-24-085373.json - Plain text: https://secwatch.observer/filing/0001193125-24-085373.txt ## Key facts - Executive change Tom L. Dobyns was appointed as Director at Community West Bancshares. - Action: appointed - Role: Director source text: Robert H. Bartlein, Suzanne M. Chadwick, Tom L. Dobyns, James W. Lokey, Martin E. Plourd and Kirk B. Stovesand (“New Directors”), would be appointed to serve on the boards of directors of Central Valley and CVCB. evidence_url: https://www.sec.gov/Archives/edgar/data/1127371/000119312524085373/0001193125-24-085373-index.htm - Executive change William F. Filippin was appointed as Executive Vice President, Regional Executive at Community West Bancshares. - Action: assumed - Role: Executive Vice President, Regional Executive source text: William F. Filippin, the former President of CWB, will assume the position of Executive Vice President, Regional Executive. evidence_url: https://www.sec.gov/Archives/edgar/data/1127371/000119312524085373/0001193125-24-085373-index.htm - Executive change Kirk B. Stovesand was appointed as Director at Community West Bancshares. - Action: appointed - Role: Director source text: Robert H. Bartlein, Suzanne M. Chadwick, Tom L. Dobyns, James W. Lokey, Martin E. Plourd and Kirk B. Stovesand (“New Directors”), would be appointed to serve on the boards of directors of Central Valley and CVCB. evidence_url: https://www.sec.gov/Archives/edgar/data/1127371/000119312524085373/0001193125-24-085373-index.htm - Executive change Karen Musson retired as Director at Community West Bancshares. - Action: retired - Role: Director source text: The following current directors (with their respective committee assignments indicated) of Central Valley and CVCB have retired from the board of directors effective on the consummation of the Mergers: Lou McMurray (Compensation Committee and Strategic Planning Committee), Gary D. Gall (Audit and Compliance Committee and Strategic Planning Committee) and Karen Musson (Nominating Committee, Compensation Committee and Strategic Planning Committee). evidence_url: https://www.sec.gov/Archives/edgar/data/1127371/000119312524085373/0001193125-24-085373-index.htm - Executive change Robert H. Bartlein was appointed as Director at Community West Bancshares. - Action: appointed - Role: Director source text: Robert H. Bartlein, Suzanne M. Chadwick, Tom L. Dobyns, James W. Lokey, Martin E. Plourd and Kirk B. Stovesand (“New Directors”), would be appointed to serve on the boards of directors of Central Valley and CVCB. evidence_url: https://www.sec.gov/Archives/edgar/data/1127371/000119312524085373/0001193125-24-085373-index.htm - Executive change Lou McMurray was elected as Director Emeritus at Community West Bancshares. - Action: elected - Role: Director Emeritus source text: Lou McMurray has been elected to serve as Director Emeritus to the Central Valley and CVCB board of directors effective on the consummation of the Mergers. evidence_url: https://www.sec.gov/Archives/edgar/data/1127371/000119312524085373/0001193125-24-085373-index.htm - Executive change Gary D. Gall retired as Director at Community West Bancshares. - Action: retired - Role: Director source text: The following current directors (with their respective committee assignments indicated) of Central Valley and CVCB have retired from the board of directors effective on the consummation of the Mergers: Lou McMurray (Compensation Committee and Strategic Planning Committee), Gary D. Gall (Audit and Compliance Committee and Strategic Planning Committee) and Karen Musson (Nominating Committee, Compensation Committee and Strategic Planning Committee). evidence_url: https://www.sec.gov/Archives/edgar/data/1127371/000119312524085373/0001193125-24-085373-index.htm - Executive change Suzanne M. Chadwick was appointed as Director at Community West Bancshares. - Action: appointed - Role: Director source text: Robert H. Bartlein, Suzanne M. Chadwick, Tom L. Dobyns, James W. Lokey, Martin E. Plourd and Kirk B. Stovesand (“New Directors”), would be appointed to serve on the boards of directors of Central Valley and CVCB. evidence_url: https://www.sec.gov/Archives/edgar/data/1127371/000119312524085373/0001193125-24-085373-index.htm - Executive change Timothy J. Stronks was appointed as Executive Vice President, Chief Risk Officer at Community West Bancshares. - Action: assumed - Role: Executive Vice President, Chief Risk Officer source text: Timothy J. Stronks, the former the Executive Vice President and Chief Operating Officer of Community West, will assume the position of Executive Vice President, Chief Risk Officer of the combined bank. evidence_url: https://www.sec.gov/Archives/edgar/data/1127371/000119312524085373/0001193125-24-085373-index.htm - Executive change James W. Lokey was appointed as Director at Community West Bancshares. - Action: appointed - Role: Director source text: Robert H. Bartlein, Suzanne M. Chadwick, Tom L. Dobyns, James W. Lokey, Martin E. Plourd and Kirk B. Stovesand (“New Directors”), would be appointed to serve on the boards of directors of Central Valley and CVCB. evidence_url: https://www.sec.gov/Archives/edgar/data/1127371/000119312524085373/0001193125-24-085373-index.htm - Executive change Lou McMurray retired as Director at Community West Bancshares. - Action: retired - Role: Director source text: The following current directors (with their respective committee assignments indicated) of Central Valley and CVCB have retired from the board of directors effective on the consummation of the Mergers: Lou McMurray (Compensation Committee and Strategic Planning Committee), Gary D. Gall (Audit and Compliance Committee and Strategic Planning Committee) and Karen Musson (Nominating Committee, Compensation Committee and Strategic Planning Committee). evidence_url: https://www.sec.gov/Archives/edgar/data/1127371/000119312524085373/0001193125-24-085373-index.htm - Executive change Martin E. Plourd was appointed as President at Community West Bancshares. - Action: assumed - Role: President source text: Martin E. Plourd will assume the position of President of the Central Valley and James J. Kim will continue as Chief Executive Officer evidence_url: https://www.sec.gov/Archives/edgar/data/1127371/000119312524085373/0001193125-24-085373-index.htm - Governance Changes Community West Bancshares: Amended articles of incorporation to change corporate name to Community West Bancshares (effective 2024-04-01). - Change: charter amendment - Effective: 2024-04-01 source text: the Central Valley Articles of Incorporation was amended in accordance with California law to reflect the change in Central Valley’s corporate name to “Community West Bancshares” evidence_url: https://www.sec.gov/Archives/edgar/data/1127371/000119312524085373/0001193125-24-085373-index.htm - M&A Transactions 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 Community West 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 Community West common stock - Closing: 2024-04-01 source text: Community West Bancshares and Community West Bank, respectively. Pursuant to the Merger Agreement, holders of Community West common stock was converted into the right to receive 0.79 of a share of common stock of Central Valley for each share of Community West common stock held immediately prior to the Effective Time of the Mergers, with cash to be paid in evidence_url: https://www.sec.gov/Archives/edgar/data/1127371/000119312524085373/0001193125-24-085373-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.