secwatch.observer — SEC 8-K summary
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Issuer:     Community West Bancshares (CWBC)
CIK:        0001127371
Form:       8-K/A
Filed at:   2024-06-14T23:59:59+00:00
Accession:  0001628280-24-028254
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.60
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CWBC completes merger with Community West; pro forma assets $3.53B
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- Merger closed April 1, 2024; Central Valley issued 7.04M shares at $19.89 for $140M consideration plus options.
- Pro forma total assets $3.53B, loans held for investment net $2.16B, deposits $2.89B.
- Pro forma 2023 net income $28.4M, diluted EPS $1.48, up from stand-alone Central Valley $25.5M ($2.17).
- Goodwill created $42.3M; core deposit intangible $10.0M amortized over 10 years.
- One-time post-merger expenses of $3.0M for change-in-control and severance benefits.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1127371/000162828024028254/0001628280-24-028254-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1127371/000162828024028254/cvcy-20240401.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-028254

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