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Community West Bancshares (CWBC) in Goleta, Calif., has been freed from a written agreement with the Federal Reserve Bank of San Francisco.
March 13 -
Community West Bancshares in Goleta, Calif., has promoted Michael Phlaum to executive vice president and chief operating officer of its bank unit.
March 4 -
Community West Bank in Goleta, Calif., has been released from a written agreement with the Office of the Comptroller of the Currency.
January 27 -
The Federal Reserve Board has approved Community West Bancshares' (CWBC) request to pay dividends on preferred stock.
December 27
Community West Bancshares (CWBC) in Goleta, Calif., said it will redeem almost half of its outstanding preferred stock issued under the Troubled Asset Relief Program.
The $539 million-asset company's board approved on Friday the redemption of 7,804 shares of its outstanding Series-A fixed rate cumulative perpetual preferred stock, which represents roughly 50% of the bank's Tarp-related debt.
The shares are being redeemed from third parties that purchased preferred stock from the Treasury Department in December 2012.
The price will be $1,000 per share, "plus any accrued or unpaid dividends that have been earned" up to the redemption date, the bank said in a press release. Regulators will set the date.
Community West's decision was made based on the bank's "
The move follows the bank's improvements in management and capital ratios that had been
