Community West Bancshares enters employment agreements with six officers and reports resignation

Community West Bancshares

On Jan 30, 2025, entered employment agreements with six executives including CEO James Kim ($625K salary, 60% bonus) and CFO Shannon Livingston ($350K, 50%).
Shannon Livingston received a Salary Continuation Agreement providing $125K/year for 15 years after separation at age 62.
Livingston also signed a Split Dollar Life Insurance Agreement with the Bank on Jan 30, 2025.
CEO James Kim's existing Salary Continuation Agreement was amended to allow early termination benefits payable in 180 monthly installments.
Patrick A. Luis resigned as Chief Credit Officer on Jan 28, 2025, effective Feb 28, 2025, not due to any disagreement.

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