Community West Bancshares Q1 net income falls 47% YoY to $3.68M; declares $0.12 dividend

Community West Bancshares

2024-Q1 EPS reported $0.31

Net income $3.676M ($0.31 diluted EPS) vs $6.970M ($0.59) a year earlier; net interest margin slipped to 3.42% from 3.86%.
Total assets decreased $17.8M (0.73%) from Dec 31; loans down slightly; deposits down 0.51%.
Board declared $0.12 per share cash dividend payable May 17 to holders of record May 3.
Completed acquisition of Community West Bancshares on April 1; merged entity renamed to Community West Bancshares (NASDAQ: CWBC).
No non-performing assets; net charge-offs $525k; capital ratios remain strong (Tier 1 leverage 9.34%).

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 quarter ended March 31, 2024 results: net income $3,676,000, EPS $0.31.

Period: the quarter ended March 31, 2024
Net income: $3,676,000
EPS: $0.31
Result: reported results

Exact text from the filing

reported today unaudited consolidated net income of $3,676,000, and fully diluted earnings per common share of $0.31 for the three months ended March 31, 2024

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Source: SEC EDGAR

accession 0001628280-24-016761

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