Community West Bancshares to acquire United Security Bancshares in all-stock deal valued at $191.9M

Community West Bancshares

Exchange ratio: 0.4520 CWBC shares per UBFO share; implied price ~$10.88/share based on CWBC close of $24.06 on Dec 16, 2025.
Combined pro forma assets ~$5B; UBFO shareholders to own ~29.4% of combined entity; CWBC shareholders ~70.6%.
Transaction expected to close in Q2 2026, subject to regulatory and shareholder approvals from both companies.
Two UBFO directors (including Jagroop "Jay" Gill) to join CWBC board; Dennis Woods to serve as Chairman Emeritus for two years.
Termination fee of $7.7M payable by UBFO under certain circumstances; voting support agreements executed by directors and officers.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Community West Bancshares entered into Agreement and Plan of Merger with United Security Bancshares valued at approximately $191.9 million (effective 2025-12-16).

Action: entry
Agreement: merger
Counterparty: United Security Bancshares
Value: approximately $191.9 million
Effective: 2025-12-16

Exact text from the filing

On December 16, 2025, Community West Bancshares, a California corporation (the “Company”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with United Security Bancshares, a California corporation (the “Target”), pursuant to which the Target will merge with and into the Company, with the Company as the surviving corporation (the “Merger”).

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Community West Bancshares filing history →

Source: SEC EDGAR

accession 0001628280-25-057501

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