UNITED SECURITY BANCSHARES: M&A transaction — Community West Bancshares completes acquisition of United Security Bancshares for ~$185.5M in stock

UNITED SECURITY BANCSHARES

Merger closed April 1, 2026; UBFO shareholders receive 0.4520 CWBC shares per share, valued at ~$10.53/share.
Total consideration ~$185.5M based on CWBC closing price of $23.30 on Mar 31; combined entity has ~$5B in assets.
Two USB directors (Jay Gill, Dora Westerlund) join CWBC board; three CWBC directors retire (Chadwick, Dobyns, Smittcamp).
Dennis R. Woods becomes Chairman Emeritus; James J. Kim remains CEO/President; Daniel J. Doyle Chairman, Jay Gill Vice Chairman.
UBFO stock delisted from Nasdaq; USB ceases to exist as separate entity.

item 2.01 item 3.01 item 3.03 item 5.01 item 5.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

UNITED SECURITY BANCSHARES underwent a change of control involving Community West Bancshares for $185.5 million (closed 2026-04-01).

Action: change of control
Counterparty: Community West Bancshares
Consideration: $185.5 million
Closing: 2026-04-01

Exact text from the filing

common stock. Based on the closing price of Community West Bancshares common stock of $23.30 per share on March 31, 2026, the value of the merger consideration was approximately $185.5 million, or $10.53 per United Security Bancshares common share. The merger combines two relationship-focused community banks with a shared commitment to serving Central California’s

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Source: SEC EDGAR

accession 0001628280-26-022619

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