Central Valley Q4 net income down 23% to $5.9M ($0.50 EPS); merger on track for April 1

Community West Bancshares

Net income $5.9M ($0.50 diluted EPS) vs $7.6M ($0.65) in Q4 2022; full year $25.5M ($2.17) vs $26.6M ($2.27).
Net interest margin improved to 3.52% from 3.47% in Q3 2023; net loans up 2.46% YoY to $1.28B.
Total deposits decreased 2.76% to $2.04B; cost of deposits was 0.87% in Q4 vs 0.90% in Q3.
Declared quarterly dividend of $0.12/share, payable Feb 16 to holders of record Feb 2.
Merger with Community West received all regulatory approvals; shareholder meetings Feb 8; expected close April 1.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Community West Bancshares reported the year ended December 31, 2023 results: net income $25,536,000, EPS $2.17.

Period: the year ended December 31, 2023
Net income: $25,536,000
EPS: $2.17
Result: reported results

Exact text from the filing

Central Valley Community Bancorp issued a press release containing unaudited financial information and accompanying discussion for the quarter and three months ended December 31, 2023

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Community West Bancshares reported the quarter ended December 31, 2023 results: net income $5,893,000, EPS $0.50.

Period: the quarter ended December 31, 2023
Net income: $5,893,000
EPS: $0.50
Result: reported results

Exact text from the filing

Central Valley Community Bancorp issued a press release containing unaudited financial information and accompanying discussion for the quarter and three months ended December 31, 2023

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

Community West Bancshares filing history →

Source: SEC EDGAR

accession 0001628280-24-001663

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