cvcy-20260122
FALSE000112737100011273712026-01-222026-01-22

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: January 22, 2026
(Date of earliest event reported)
COMMUNITY WEST BANCSHARES
(Exact name of registrant as specified in its charter)
CA
(State or other jurisdiction
of incorporation)
000-31977
(Commission File Number)
77-0539125
(IRS Employer
Identification Number)
7100 N. Financial Dr., Ste. 101, Fresno, CA
(Address of principal executive offices)
93720
(Zip Code)
559-298-1775
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Common Stock, no par valueCWBCNASDAQ
(Title of Each Class)(Trading Symbol)(Name of Each Exchange on which Registered)
Not Applicable
(Former Name or Former Address, if changed since last report)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

    Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act  o


Item 2.02. Results of Operations and Financial Condition

On January 22, 2026, Community West Bancshares issued a press release containing unaudited financial information and accompanying discussion for the quarter ended December 31, 2025. The press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 8.01. Other Events

On January 21, 2026, the Board of Directors of Community West Bancshares declared a $0.12 per share cash dividend payable on February 20, 2026 to shareholders of record as of February 6, 2026.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits
99.1    Press Release of Community West Bancshares dated January 22, 2026


The information in this Form 8-K filed on January 22, 2026 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, regardless of any general incorporation language in such filing.



SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated:
January 22, 2026
COMMUNITY WEST BANCSHARES

By:  /s/ Shannon R. Livingston                  
       Shannon R. Livingston
       Executive Vice President and Chief Financial Officer (Principal
       Accounting Officer)



cwbclogo.jpg
FOR IMMEDIATE RELEASE
COMMUNITY WEST BANCSHARES REPORTS EARNINGS RESULTS
FOR THE QUARTER ENDED DECEMBER 31, 2025,
AND QUARTERLY DIVIDEND

FRESNO, CALIFORNIA...January 22, 2026...The Board of Directors of Community West Bancshares (“Company”) (NASDAQ: CWBC), the parent company of Community West Bank (“Bank”), reported today unaudited consolidated net income of $11,170,000, and diluted earnings per share of $0.58 for the three months ended December 31, 2025, compared to net income of $6,895,000 and $0.36 per diluted common share for the three months ended December 31, 2024. The Company declared a $0.12 per common share cash dividend, payable on February 20, 2026 to shareholders of record as of February 6, 2026.

“Fourth quarter 2025 results reflected sustained operating performance, a strong capital foundation, and a continued focus on leadership depth and longstanding client relationships,” stated James J. Kim, CEO of the Company. “As we navigated an evolving economic environment, both our Company and our clients demonstrated resilience and focus. The merger announcement with United Security Bancshares and United Security Bank represents a natural extension of our momentum and positions us to further strengthen our Central California presence, expand our relationship service, capabilities, and deliver long-term value for our communities, employees, and shareholders.”
FINANCIAL HIGHLIGHTS
•On December 17, 2025, the Company announced it signed a definitive merger agreement with United Security Bancshares (“USB”) pursuant to which USB will merge with and into the Company. Upon closing, which is expected to occur in the second quarter subject to customary closing conditions, including regulatory approvals and shareholder approval from both parties, the combined company would have approximately $5 billion in total assets.
•Net income during the fourth quarter increased to $11.17 million, or $0.58 per diluted common share, compared to net income of $10.87 million and $0.57 per diluted common share, respectively, in the third quarter of 2025.
•The Company recorded a provision for credit losses of $515,000 during the quarter ended December 31, 2025, as compared to a provision for credit losses of $667,000 during the trailing quarter. The current quarter provision is attributed to a provision for loan losses totaling $599,000 and a provision to the reserve for unfunded commitments of $200,000, partially offset by a credit to the reserve for held-to-maturity securities of $284,000.
•Gross loans increased by $89.7 million or 3.66% for the quarter ended December 31, 2025 compared to the quarter ended September 30, 2025 and increased $206.6 million or 8.85% year-to-date.
•Total deposits increased by $19.3 million or 0.63% compared to the quarter ended September 30, 2025 and $184.5 million or 6.34% year-to-date.
•Total cost of deposits remained flat at 1.39% for the quarter ended December 31, 2025 compared to 1.39% for the quarter ended September 30, 2025, and decreased from 1.49% for the quarter ended December 31, 2024.
•Average non-interest bearing demand deposit accounts as a percentage of total average deposits totaled 34.97% and 35.79% for the quarters ended December 31, 2025 and September 30, 2025, respectively.
•Net interest margin increased to 4.24% for the quarter ended December 31, 2025, from 4.20% and 3.95% for the quarters ended September 30, 2025 and December 31, 2024, respectively.
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Community West Bancshares -- page 2
•Return on average assets was 1.23% for the quarter ended December 31, 2025 as compared to 1.21% and 0.78% for the quarters ended September 30, 2025 and December 31, 2024, respectively. Return on average assets, excluding merger related expenses, was 1.27% for the quarter ended December 31, 2025 as compared to 1.21% and 0.82% for the quarters ended September 30, 2025 and December 31, 2024, respectively. See non-GAAP disclosures for more information.
•Return on average equity was 11.03% for the quarter ended December 31, 2025 as compared to 11.25% and 7.55% for the quarters ended September 30, 2025 and December 31, 2024, respectively. Return on average equity, excluding merger related expenses, was 11.39% for the quarter ended December 31, 2025 as compared to 11.27% and 7.91% for the quarters ended September 30, 2025 and December 31, 2024, respectively. See non-GAAP disclosures for more information.
•Capital positions remained strong at December 31, 2025 with a 9.80% Tier 1 Leverage Ratio; a 11.56% Common Equity Tier 1 Ratio; a 11.73% Tier 1 Risk-Based Capital Ratio; and a 13.97% Total Risk-Based Capital Ratio.

“Financial performance for fourth quarter 2025 demonstrated increasing earnings strength, including a seventh consecutive quarter of net interest margin improvement and consistent upward trends in return on average assets and return on average equity. These results underscore disciplined balance-sheet management, and the strong efforts of our dedicated team,” said Shannon Livingston, Executive Vice President and Chief Financial Officer.

Results of Operations
Three months endedTwelve months ended
December 31,
September 30,
December 31,
December 31,
(In thousands, except share and per-share amounts) 20252025202420252024
Net interest income before provision for credit losses$35,749 $34,944 $32,024 $136,180 $110,367 
Provision for credit losses515 667 1,224 3,754 11,113 
Net interest income after provision for credit losses35,234 34,277 30,800 132,426 99,254 
Total non-interest income2,547 2,966 2,303 10,488 6,445 
Total non-interest expenses22,452 22,167 23,188 90,386 94,701 
Income before provision for income taxes15,329 15,076 9,915 52,528 10,998 
Provision for income taxes4,159 4,203 3,020 14,360 3,332 
Net income$11,170 $10,873 $6,895 $38,168 $7,666 

Statement Regarding use of Non-GAAP Financial Measures
In this press release, Community West Bancshares’ financial results are presented in accordance with GAAP and refer to certain non-GAAP financial measures. Management believes that presentation of operating results using non-GAAP financial measures provides useful supplemental information to investors and facilitates the analysis of the Company’s core operating results and comparison of operating results across reporting periods. Management also uses non-GAAP financial measures to establish budgets and manage the Company’s business. A reconciliation of the GAAP financial measures to comparable non-GAAP financial measures is presented below.








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Community West Bancshares -- page 3
Reconciliation of GAAP and Non-GAAP Financial Measures

Three months ended Twelve months ended
December 31,
September 30,
December 31,
December 31,
December 31,
(Dollars in thousands)20252025202420252024
PRE-TAX PRE-PROVISION RETURN ON AVERAGE ASSETS OR EQUITY
Net income (GAAP)$11,170 $10,873 $6,895 $38,168 $7,666 
Exclude provision for income taxes4,159 4,203 3,020 14,360 3,332 
Exclude provision for credit losses515 667 1,224 3,754 11,113 
Net income before income tax and provision expense (Non-GAAP)$15,844 $15,743 $11,139 $56,282 $22,111 
RETURN ON AVERAGE ASSETS (Annualized)
Average assets$3,646,566 $3,595,359 $3,524,115 $3,581,260 $3,190,361 
Return on average assets (GAAP)1.23 %1.21 %0.78 %1.07 %0.24 %
Pre-tax pre-provision return on average assets (Non-GAAP)1.74 %1.75 %1.26 %1.57 %0.69 %
RETURN ON AVERAGE EQUITY (Annualized)
Average stockholders' equity$404,975 $386,500 $365,208 $384,828 $317,142 
Return on average equity (GAAP)11.03 %11.25 %7.55 %9.92 %2.42 %
Pre-tax pre-provision return on average equity (Non-GAAP)15.65 %16.29 %12.20 %14.63 %6.97 %
Three months ended
December 31,
September 30,
June 30,March 31,
December 31,
(Dollars in thousands)20252025202520252024
TANGIBLE COMMON EQUITY
Shareholders’ equity (GAAP)$409,588 $397,576 $380,002 $371,937 $362,685 
Exclude goodwill96,828 96,828 96,828 96,828 96,828 
Exclude other intangibles assets8,266 8,516 8,767 9,017 9,268 
Tangible common equity (Non-GAAP)$304,494 $292,232 $274,407 $266,092 $256,589 
TANGIBLE COMMON EQUITY PER SHARE
Tangible shareholders’ equity (Non-GAAP)$304,494 $292,232 $274,407 $266,092 $256,589 
Common shares outstanding at end of period19,163,452 19,138,677 19,130,508 19,061,009 18,974,674 
Common shareholders’ equity (book value) per share (GAAP)$21.37 $20.77 $19.19 $19.86 $19.53 $19.11 
Tangible common shareholders’ equity (tangible book value) per share (Non-GAAP)$15.89 $15.27 $14.34 $13.97 $13.52 
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Community West Bancshares -- page 4
For the Three Months Ended For the Twelve Months Ended
December 31,
September 30,
December 31,
December 31,
December 31,
(In thousands, except share and per-share amounts)20252025202420252024
NET INCOME ADJUSTED FOR NON-RECURRING ITEMS
Net income (GAAP)$11,170 $10,873 $6,895 $38,168 $7,666 
Merger and conversion related costs:
Provision for credit losses on acquired non purchased credit deteriorated (PCD) loans— — — — 10,877 
Personnel and severance— — 107 — 3,639 
Professional services520 — — 798 2,240 
Data processing and technology— — 293 — 2,961 
Other— — 68 — 774 
Total merger and conversion related costs520 — 468 798 20,491 
Loss on sale/call of investment securities— 26 — 41 4,199 
Income tax impact of non-core items(154)(8)(138)(248)(7,298)
Comparable net income (non-GAAP)$11,536 $10,891 $7,225 $38,759 $25,058 
DILUTED EARNINGS PER SHARE
Weighted average diluted shares19,117,789 19,093,544 18,981,835 19,069,289 17,179,796 
Diluted earnings per share (GAAP)$0.58 $0.57 $0.36 $2.00 $0.45 
Comparable diluted earnings per share (non-GAAP)$0.60 $0.57 $0.38 $2.03 $1.46 
RETURN ON AVERAGE ASSETS
Average assets$3,646,566 $3,595,359 $3,524,115 $3,581,260 $3,190,361 
Return on average assets (GAAP)1.23 %1.21 %0.78 %1.07 %0.24 %
Impact of non-core expenses0.04 %— %0.04 %0.01 %0.55 %
Comparable return on average assets (non-GAAP)1.27 %1.21 %0.82 %1.08 %0.79 %
RETURN ON AVERAGE EQUITY
Average stockholders' equity$404,975 $386,500 $365,208 $384,828 $317,142 
Return on average equity (GAAP)11.03 %11.25 %7.55 %9.92 %2.42 %
Impact of non-core expenses0.36 %0.02 %0.36 %0.15 %5.48 %
Comparable return on average equity (non-GAAP)11.39 %11.27 %7.91 %10.07 %7.90 %
EFFICIENCY RATIO
Non-interest expense (GAAP)$22,452 $22,167 $23,188 $90,386 $94,701 
Merger-related non-interest expenses(520)— (468)(798)(20,491)
Comparable non-interest expense (non-GAAP)21,932 22,167 22,720 89,588 74,210 
Net interest income (GAAP)35,749 34,944 32,024 136,180 110,367 
Non-interest income (GAAP)2,547 2,966 2,303 10,488 6,445 
Loss on sale/call of investment securities— 26 — 41 4,199 
Comparable non-interest income (non-GAAP)$2,547 $2,992 $2,303 $10,529 $10,644 
Efficiency ratio (GAAP)58.63 %58.47 %67.55 %61.63 %81.07 %
Comparable efficiency ratio (non-GAAP)57.27 %58.43 %66.19 %61.07 %61.33 %
For the quarter ended December 31, 2025, the Company reported unaudited consolidated net income of $11,170,000 and diluted earnings per common share of $0.58, compared to consolidated net income of $10,873,000 and $0.57 per fully diluted share for the trailing quarter, and consolidated net income of $6,895,000 and $0.36 per diluted share for the same period in 2024. The Company's earnings during the quarter benefited from an increase in net interest income before provision for credit losses and a lower provision for credit losses, partially offset by a decrease in non-interest income and an increase in non-interest expense, as compared to the prior quarter.

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Community West Bancshares -- page 5
For the twelve months ended December 31, 2025, the Company reported unaudited consolidated net income of $38,168,000 and diluted earnings per common share of $2.00, compared to consolidated net income of $7,666,000 and $0.45 per diluted share for the same period in 2024. The earnings for the period were improved as compared to the prior year due to an increase in net interest income before provision for credit losses of $25,813,000, a decrease in the provision for credit losses of $7,359,000, an increase in non-interest income of $4,043,000 and a decrease in non-interest expense of $4,315,000. The improvements in income were partially offset by an increase in the provision for income taxes of $11,028,000.

Annualized return on average equity (ROAE) for the quarter ended December 31, 2025 was 11.03%, compared to 7.55% for the same period of 2024. Annualized return on average assets (ROAA) was 1.23% for the quarter ended December 31, 2025 compared to 0.78% for the same period in 2024.

The effective yield on average investment securities, including interest earning deposits in other banks and Federal funds sold, was 2.87% for the quarter ended December 31, 2025, compared to 3.16% for the quarter ended December 31, 2024 and 2.96% for the quarter ended September 30, 2025. The effective yield on average investment securities, including interest earning deposits in other banks and Federal funds sold, was 2.95% for the twelve months ended December 31, 2025, compared to 3.18% for the twelve months ended December 31, 2024.

Total average loans increased by $174,097,000 to $2,482,277,000 for the quarter ended December 31, 2025, from $2,308,180,000 for the quarter ended December 31, 2024 and increased by $65,122,000 from $2,417,155,000 for the quarter ended September 30, 2025. The year over year increase was due to organic loan growth throughout the Company’s expanded footprint. The effective yield on average loans was 6.66% for the quarter ended December 31, 2025, compared to 6.61% and 6.65% for the quarters ended December 31, 2024 and September 30, 2025, respectively. Total average loans increased by $416,501,000 to $2,394,887,000 for the twelve months ended December 31, 2025, from $1,978,386,000 for the twelve months ended December 31, 2024. The effective yield on average loans was 6.68% for the twelve months ended December 31, 2025, compared to 6.58% for the twelve months ended December 31, 2024.

The Company’s net interest margin (fully tax equivalent basis) was 4.24% for the quarter ended December 31, 2025, compared to 3.95% for the quarter ended December 31, 2024 and 4.20% for the quarter ended September 30, 2025. Net interest income, before provision for credit losses, increased by $3,725,000 or 11.63%, to $35,749,000 for the fourth quarter of 2025, compared to $32,024,000 for the same period in 2024. In addition to the increase in average loans due to organic loan growth, the Company's yield on interest earning assets has increased from 5.59% for the quarter ended December 31, 2024 to 5.64% for the quarter ended December 31, 2025. Additionally, the Company benefited from a decrease in the costs on interest-bearing liabilities, in which the cost of total deposits decreased to 1.39% from 1.49% when comparing the quarters ended December 31, 2025 and 2024. The decrease in the cost of deposits is primarily attributed to rate decreases in both the money market and time deposit portfolios. Net interest margin during the three months ended December 31, 2025 and 2024 and September 30, 2025 benefited by approximately 27 basis points ($2,349,000), 24 basis points ($1,909,000), and 28 basis points ($2,328,000), respectively, from the net accretion of fair value marks.

The Company’s net interest margin (fully tax equivalent basis) was 4.15% for the twelve months ended December 31, 2025, compared to 3.76% for the twelve months ended December 31, 2024. Net interest income, before provision for credit losses, increased $25,813,000 or 23.39%, to $136,180,000 for the twelve months ended December 31, 2025, compared to $110,367,000 for the same period in 2024. The accretion on loan marks of acquired loans increased interest income by $11,481,000 and $9,849,000 during the twelve months ended December 31, 2025 and 2024, respectively. Net interest income during the twelve months ended December 31, 2025 and 2024 benefited by approximately 27 basis points ($8,820,000) and 15 basis points ($4,464,000), respectively, from the net accretion of the fair value marks.




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Community West Bancshares -- page 6

Non-Interest Income - The following tables present the key components of non-interest income for the periods indicated:
Three months ended
December 31,
September 30,
(Dollars in thousands)20252025$ Change% Change
Service charges$502 $519 $(17)(3.3)%
Interchange fees447 493 (46)(9.3)%
Appreciation in cash surrender value of bank owned life insurance380 379 1 0.3 %
Federal Home Loan Bank dividends242 240 2 0.8 %
Loan placement fees212 215 (3)(1.4)%
Gain on proceeds from death benefits— 198 (198)(100.0)%
Net realized losses on sales and calls of investment securities— (26)26 (100.0)%
Other income764 948 (184)(19.4)%
Total non-interest income$2,547 $2,966 $(419)(14.1)%

The decrease in total non-interest income for the quarter ended December 31, 2025 as compared to the trailing quarter was primarily driven by a decrease in interchange fees, no one-time gains for death benefits in the current quarter, and less income from other investments.
Twelve months ended December 31,
(Dollars in thousands)20252024$ Change% Change
Service charges$2,028 $1,798 $230 12.8 %
Interchange fees1,948 2,078 (130)(6.3)%
Appreciation in cash surrender value of bank owned life insurance1,497 1,325 172 13.0 %
Federal Home Loan Bank dividends960 796 164 20.6 %
Loan placement fees844 1,184 (340)(28.7)%
Gain on proceeds from death benefits198 — 198 — %
Net realized losses on sales and calls of investment securities(41)(4,199)4,158 (99.0)%
Other income3,054 3,463 (409)(11.8)%
Total non-interest income$10,488 $6,445 $4,043 62.7 %

Increases in non-interest income as compared to the prior year-to-date period are attributed to the reduction in realized losses on sales and calls of investment securities. Realized losses on sales and calls of investment securities decreased to $41,000 for the twelve months ended December 31, 2025 compared to a loss of $4,199,000 for the twelve months ended December 31, 2024. During the prior year the Company sold investment securities as part of strategic balance sheet repositioning. The increase in non-interest income was partially offset by lower interchange fees, loan placement fees, and other income for the year ended December 31, 2025.







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Community West Bancshares -- page 7
Non-Interest Expense - The following table presents the key components of non-interest expense for the periods indicated:
Three months ended
December 31,
September 30,
(Dollars in thousands)20252025$ Change% Change
Salaries and employee benefits$12,097 $12,525 $(428)(3.4)%
Occupancy and equipment2,876 2,933 (57)(1.9)%
Information technology1,733 1,711 22 1.3 %
Data processing expense757 748 9 1.2 %
Merger and acquisition expense520 — 520 — %
Regulatory assessments515 490 25 5.1 %
Professional services440 447 (7)(1.6)%
ATM/Debit card expenses440 359 81 22.6 %
Amortization of core deposit intangibles251 250 1 0.4 %
Advertising242 185 57 30.8 %
Directors’ expenses226 234 (8)(3.4)%
Loan related expenses 211 252 (41)(16.3)%
Personnel other96 19 77 405.3 %
Other expense2,048 2,014 34 1.7 %
   Total non-interest expenses$22,452 $22,167 $285 1.3 %

During the fourth quarter of 2025, total non-interest expense increased $285,000 as compared to the trailing quarter. The increase was driven primarily by increases in merger related expenses. The decrease in salary and employee benefits was due to less FTE as compared to the prior quarter.

Twelve months ended December 31,
(Dollars in thousands)20252024$ Change% Change
Salaries and employee benefits$49,841 $48,470 $1,371 2.8 %
Occupancy and equipment11,430 9,479 1,951 20.6 %
Information technology7,137 5,940 1,197 20.2 %
Data processing expense3,160 3,748 (588)(15.7)%
Professional services2,390 2,825 (435)(15.4)%
Regulatory assessments1,994 1,837 157 8.5 %
ATM/Debit card expenses1,589 1,750 (161)(9.2)%
Amortization of core deposit intangibles1,002 751 251 33.4 %
Advertising929 854 75 8.8 %
Directors’ expenses912 752 160 21.3 %
Loan related expenses 839 802 37 4.6 %
Merger and acquisition expense798 9,614 (8,816)(91.7)%
Personnel other313 345 (32)(9.3)%
Other expense8,052 7,534 518 6.9 %
Total non-interest expenses$90,386 $94,701 $(4,315)(4.6)%

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Community West Bancshares -- page 8
The decrease in non-interest expenses as compared to the prior year-to-date period was due to the reduction in non-recurring merger expenses, data processing expense, and professional services, partially offset by an increase in salary and employee benefits, occupancy and equipment, and information technology.

Balance Sheet Summary
Total assets for the period ended December 31, 2025 increased $168,546,000 or 4.79%, compared to the period ended December 31, 2024. Total average assets for the quarter ended December 31, 2025 were $3,646,566,000 compared to $3,524,115,000 for the quarter ended December 31, 2024 and $3,595,359,000 for the quarter ended September 30, 2025, an increase of $122,451,000 or 3.47% and an increase of $51,207,000 or 1.42%, respectively.

For the quarter ended December 31, 2025, the Company’s average gross investment securities decreased by $44,605,000, or 5.23%, compared to the quarter ended December 31, 2024, and decreased by $10,824,000, or 1.32%, compared to the quarter ended September 30, 2025. This decrease compared to the prior year was the result of sales, calls and maturities of available-for-sale securities and held-to-maturity securities.

In comparing the quarter ended December 31, 2025 to the quarters ended December 31, 2024 and September 30, 2025, total average gross loans increased $174,097,000 or 7.54%, and increased by $65,122,000 or 2.69%, respectively.

The following table shows the Company’s outstanding loan portfolio composition as of December 31, 2025 and December 31, 2024:
December 31, 2025
December 31, 2024
Loan Type (dollars in thousands)Amount% of TotalAmount% of Total
Commercial:
Commercial and industrial$156,744 6.2 %$143,422 6.1 %
Agricultural production34,152 1.3 %37,323 1.6 %
Total commercial190,896 7.5 %180,745 7.7 %
Real estate:
Construction & other land loans80,452 3.2 %67,869 2.9 %
Commercial real estate - owner occupied368,604 14.5 %323,188 13.9 %
Commercial real estate - non-owner occupied992,486 39.1 %913,165 39.2 %
Farmland142,100 5.6 %139,815 6.0 %
Multi-family residential199,123 7.8 %133,595 5.7 %
1-4 family - close-ended110,026 4.3 %123,445 5.3 %
1-4 family - revolving39,818 1.6 %35,421 1.5 %
Total real estate1,932,609 76.1 %1,736,498 74.5 %
Consumer:
Manufactured housing324,476 12.8 %322,263 13.8 %
Other installment92,589 3.6 %92,839 4.0 %
Total consumer417,065 16.4 %415,102 17.8 %
Net deferred origination costs287 — %1,876 0.1 %
Total gross loans2,540,857 100.0 %2,334,221 100.0 %
Allowance for credit losses(30,071)(25,803)
Total loans$2,510,786 $2,308,418 

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Community West Bancshares -- page 9

The composition of deposits at December 31, 2025 and December 31, 2024 is summarized in the table below:
December 31, 2025
December 31, 2024
(Dollars in thousands)Amount% of TotalAmount% of Total
NOW accounts$502,727 16.2 %$470,548 16.2 %
MMA accounts858,354 27.7 %843,145 29.0 %
Time deposits503,451 16.3 %443,284 15.2 %
Savings deposits171,977 5.6 %172,976 5.9 %
Total interest-bearing2,036,509 65.8 %1,929,953 66.3 %
Non-interest bearing1,058,765 34.2 %980,824 33.7 %
Total deposits$3,095,274 100.0 %$2,910,777 100.0 %

Total average deposits increased $209,662,000 or 7.22%, to $3,114,530,000 for the quarter ended December 31, 2025, compared to $2,904,868,000 for the quarter ended December 31, 2024, and increased $44,231,000, or 1.44%, compared to $3,070,299,000 for the quarter ended September 30, 2025. The Company’s ratio of average non-interest bearing deposits to total deposits was 34.97% for the quarter ended December 31, 2025, compared to 36.02% and 35.79% for the quarters ended December 31, 2024 and September 30, 2025, respectively.

The Company has significant liquidity, both on and off-balance sheet, to meet customer demand. During the year-to-date period, the Company’s cash and cash equivalents decreased $1,414,000 to $118,984,000 compared to $120,398,000 at December 31, 2024. The Company had $73,000,000 in short-term borrowings at December 31, 2025 compared to $133,442,000 at December 31, 2024.

At December 31, 2025 and December 31, 2024, the Company had the following sources of primary and secondary liquidity:

Liquidity Sources (in thousands)
December 31, 2025
December 31, 2024
Cash and cash equivalents$118,984 $120,398 
Unpledged investment securities338,235 403,669 
Excess pledged securities85,961 69,866 
FHLB borrowing availability709,391 576,556 
Unsecured lines of credit availability110,000 110,000 
Funds available through FRB discount window3,411 3,828 
Total$1,365,982 $1,284,317 


Credit Quality
During the fourth quarter of 2025, the Company recorded net loan charge-offs of $118,000 compared to $59,000 for the same period in 2024. The net charge-off ratio reflects annualized net charge-offs to average loans of 0.02% for the quarter ended December 31, 2025, compared to annualized net charge-offs of 0.01% for the quarter ended December 31, 2024. During the quarter ended December 31, 2025, the Company recorded a $599,000 provision for loan losses, compared to $971,000 for the same period in 2024. In addition to the provision for credit losses on loans for the quarter ended December 31, 2025, the Company recorded a credit to the provision for credit losses on held-to-maturity securities of $284,000 as compared to a provision of $299,000 in the prior year quarter. The Company recorded a provision for unfunded loan commitments totaling $200,000 for the quarter ended December 31, 2025 compared to a credit to the provision of $46,000 in the prior year quarter.

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Community West Bancshares -- page 10
The following table shows the Company’s loan portfolio, net of deferred costs, allocated by management’s internal risk ratings:
Loan Risk Rating (In thousands)December 31, 2025% of TotalSeptember 30, 2025% of TotalDecember 31, 2024% of Total
Pass$2,407,906 94.8 %$2,359,148 96.3 %$2,272,543 97.4 %
Special mention54,155 2.1 %24,925 1.0 %17,384 0.7 %
Substandard78,796 3.1 %67,069 2.7 %44,294 1.9 %
Doubtful— — — 
Total$2,540,857 100.0 %$2,451,142 100.0 %$2,334,221 100.0 %
At December 31, 2025, the allowance for credit losses for loans was $30,071,000, compared to $25,803,000 at December 31, 2024, a net increase of $4,268,000 reflecting a provision for loan losses of $4,200,000 and net recoveries during the period. The allowance for credit losses as a percentage of total loans was 1.18% as of December 31, 2025 compared to 1.11% at December 31, 2024. The Company believes the allowance for credit losses is adequate to provide for expected credit losses within the loan portfolio at December 31, 2025.
Cash Dividend Declared
On January 21, 2026, the Board of Directors of the Company declared a regular quarterly cash dividend of $0.12 per share on the Company’s common stock. The dividend is payable on February 20, 2026 to shareholders of record as of February 6, 2026. The Company continues to be well capitalized and expects to maintain adequate capital levels.
Pending Merger with United Security Bancshares
On December 17, 2025 the Company and United Security Bancshares (“USB”) jointly announced the signing of a definitive agreement whereby USB, the parent company of United Security Bank will merge into the Company. United Security Bank’s full-service branches in Fresno, Madera, Kern, San Joaquin and Santa Clara Counties will join Community West Bank’s full-service Banking Centers in 12 Central California counties.

Under the terms of the merger agreement, stockholders of USB will receive 0.4520 shares of CWB common stock for each USB share. Consummation of the merger is subject to certain conditions, including the approval by the shareholders of the Company and USB and customary regulatory approvals. Based on CWB’s closing price of $23.78 on January 21, 2026, the total consideration was valued at approximately $188.7 million, or approximately $10.75 per United Security Bancshares common share.

Company Overview
Community West Bancshares (“Company”) (NASDAQ: CWBC) and its wholly owned subsidiary, Community West Bank (“Bank”), are headquartered in Fresno, California. The Company was established in 1979 with the vision to help businesses and communities by exceeding expectations at every opportunity, and opened its first Banking Center on January 10, 1980. Today, the Bank operates full-service Banking Centers throughout Central California and maintains a variety of departments supporting Commercial Lending, Agribusiness, SBA, Residential Construction and Mortgage, Manufactured Housing, Private Banking and Cash Management.

Members of the Company and Bank Board of Directors are: Daniel J. Doyle (Chairman), Robert H. Bartlein (Vice Chairman), James J. Kim (CEO of the Company and President and CEO of the Bank), Martin E. Plourd (President of the Company), Suzanne M. Chadwick, Daniel N. Cunningham, Tom L. Dobyns, F.T. “Tommy” Elliott IV, Robert J. Flautt, James W. Lokey, Andriana D. Majarian, Steven D. McDonald, Dorothea D. Silva, William S. Smittcamp and Kirk B. Stovesand. Louis C. McMurray is Director Emeritus.

More information about Community West Bancshares and Community West Bank can be found at www.communitywestbank.com. Also, follow the Company on LinkedIn, X and Facebook.
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Community West Bancshares -- page 11

###

Additional Information and Where to Find It
The Company will file a registration statement on Form S-4 with the SEC in connection with the Company’s proposed merger with USB. The registration statement will include a joint proxy statement of the Company and USB that also constitutes a prospectus of the Company, which will be sent to the shareholders of the Company and USB. Before making any voting decision, the shareholders of the Company and USB are advised to read the joint proxy statement/prospectus when it becomes available because it will contain important information about the Company, USB and the proposed transaction. When filed, this document and other documents relating to the merger filed by the Company can be obtained free of charge from the SEC’s website at www.sec.gov. These documents also can be obtained free of charge by accessing the Company’s website at ir.communitywestbank.com under the tab “Financials” and on USB’s website at investors.unitedsecuritybank.com under the tab “Financials” and “SEC Filings.” Alternatively, these documents, when available, can be obtained free of charge from the Company upon written request to Community West Bancshares, Attn: Investor Relations, 7100 N. Financial Dr., Suite 101, Fresno, CA 93720, or by calling (916) 235-4617 or from USB upon written request to United Security Bancshares, Attn: Investor Relations, 2126 Inyo St., Fresno, CA 93721, or by calling (559) 490-6261. The contents of the websites referenced above are not deemed to be incorporated by reference into the registration statement or the joint proxy statement/prospectus.

Participants in the Solicitation
This report does not constitute a solicitation of a proxy, an offer to purchase or a solicitation of an offer to sell any securities. The Company, USB, and certain of their directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the shareholders of the Company and USB in connection with the proposed merger under SEC rules. Information about the directors and executive officers of the Company and USB will be included in the joint proxy statement/prospectus for the proposed transaction filed with the SEC. These documents (when available) may be obtained free of charge in the manner described above under “Additional Information and Where to Find It.”

Security holders may obtain information regarding the names, affiliations and interests of the Company’s directors and executive officers in the definitive proxy statement of the Company relating to its 2025 Annual Meeting of Shareholders filed with the SEC on April 4, 2025 and in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 17, 2025. Security holders may obtain information regarding the names, affiliations and interests of USB’s directors and executive officers in the definitive proxy statement of USB relating to its 2025 Annual Meeting of Shareholders filed with the SEC on April 7, 2025 and in USB’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 20, 2025.
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Community West Bancshares -- page 12

Forward-looking Statements- Certain matters set forth herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including forward-looking statements relating to the Company’s current business plans and expectations regarding future operating results. Forward-looking statements may include, but are not limited to, the use of forward-looking language, such as “likely result in,” “expects,” “anticipates,” “estimates,” “forecasts,” “projects,” “intends to,” or may include other similar words or phrases, such as “believes,” “plans,” “trend,” “objective,” “continues,” “remains,” or similar expressions, or future or conditional verbs, such as “will,” “would,” “should,” “could,” “may,” “might,” “can,” or similar verbs. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those projected. These risks and uncertainties, some of which are beyond our control, include, but are not limited to: the occurrence of any event, change or other circumstance that could give rise to the right of one or both parties to terminate the merger agreement; current and future business, economic and market conditions in the United States generally or in the communities we serve, including the effects of declines in property values and overall slowdowns in economic growth should these events occur; inflationary pressures and changes in the interest rate environment that reduce our margins and yields, the fair value of financial instruments or our level of loan originations, or increase the level of defaults, losses and prepayments on loans we have made and make, whether held in the portfolio or in the secondary market; effects of and changes in trade, monetary and fiscal policies and laws, including the interest rate policies of the Federal Open Market Committee of the Federal Reserve Board; geopolitical and domestic political developments including the imposition of tariffs, that can increase levels of political and economic unpredictability, contribute to rising energy and commodity prices, and increase the volatility of financial markets; changes in the level of nonperforming assets and charge offs and other credit quality measures, and their impact on the adequacy of our allowance for credit losses and our provision for credit losses; factors that can impact the performance of our loan portfolio, including real estate values and liquidity in our primary market areas, the financial health of our commercial borrowers, and the success of construction projects that we finance; our ability to achieve loan growth and attract deposits in our market area, the impact of the cost of deposits and our ability to retain deposits; liquidity issues, including fluctuations in the fair value and liquidity of the securities we hold for sale and our ability to raise additional capital, if necessary; continued or increasing competition from other financial institutions, credit unions, and non-bank financial services companies; challenges arising from attempts to expand into new geographic markets, products, or services; restraints on the ability of Community West Bank to pay dividends to us, which could limit our liquidity; increased capital requirements imposed by banking regulators, which may require us to raise capital at a time when capital is not available on favorable terms or at all; inaccuracies in our assumptions about future events, which could result in material differences between our financial projections and actual financial performance; changes in our management personnel or our inability to retain, motivate and hire qualified management personnel; disruptions, security breaches, or other adverse events, failures or interruptions in, or attacks on, our information technology systems; disruptions, security breaches, or other adverse events affecting the third-party vendors who perform critical processing functions; an inability to keep pace with the rate of technological advances due to a lack of resources to invest in new technologies; natural disasters, such as earthquakes, wildfires, drought, pandemic diseases (such as the coronavirus) or extreme weather events, any of which may affect services we use or affect our customers, employees or third parties with which we conduct business; compliance with governmental and regulatory requirements, relating to banking, consumer protection, securities and tax matters; and our ability to the manage the foregoing.

The foregoing factors should not be construed as exhaustive and should be read together with the other cautionary statements included in this report. Because of these risks and other uncertainties, our actual future results, performance or achievement, or industry results, may be materially different from the results indicated by the forward looking statements in this report. In addition, our past results of operations are not necessarily indicative of our future results. You should not rely on any forward looking statements, which represent our beliefs, assumptions and estimates only as of the dates on which they were made, as predictions of future events. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

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Community West Bancshares -- page 13
COMMUNITY WEST BANCSHARES
CONSOLIDATED BALANCE SHEETS
(Unaudited)
December 31,
September 30,
December 31,
(In thousands, except share amounts)202520252024
ASSETS
Cash and due from banks$27,627 $39,823 $28,029 
Interest-earning deposits in other banks91,357 81,735 92,369 
Total cash and cash equivalents118,984 121,558 120,398 
Available-for-sale debt securities, at fair value, net of allowance for credit losses of $0, with an amortized cost of $509,083 at December 31, 2025, $515,813 at September 30, 2025, and $536,334 at December 31, 2024
469,410 473,075 477,113 
Held-to-maturity debt securities, at amortized cost less allowance for credit losses of $440 at December 31, 2025, $724 at September 30, 2025, and $1,156 at December 31, 2024
287,117 287,082 301,359 
Equity securities, at fair value6,797 6,769 6,586 
Loans, less allowance for credit losses of $30,071 at December 31, 2025, $29,590 at September 30, 2025, and $25,803 at December 31, 2024
2,510,786 2,421,552 2,308,418 
Bank premises and equipment, net23,545 23,569 24,469 
Bank owned life insurance54,163 53,783 53,319 
Federal Home Loan Bank stock10,978 10,978 10,978 
Goodwill96,828 96,828 96,828 
Core deposit intangibles8,266 8,516 9,268 
Accrued interest receivable and other assets103,443 108,554 113,035 
Total assets$3,690,317 $3,612,264 $3,521,771 
LIABILITIES AND SHAREHOLDERS’ EQUITY 
Deposits:
Non-interest bearing$1,058,765 $1,091,817 $980,824 
Interest bearing2,036,509 1,984,114 1,929,953 
Total deposits3,095,274 3,075,931 2,910,777 
Borrowings73,000 20,000 133,442 
Senior debt and subordinated debentures69,526 69,998 69,889 
Accrued interest payable and other liabilities42,929 48,759 44,978 
Total liabilities3,280,729 3,214,688 3,159,086 
Shareholders’ equity:
Preferred stock, no par value; 10,000,000 shares authorized, none issued and outstanding
— — — 
Common stock, no par value; 80,000,000 shares authorized; issued and outstanding: 19,163,452 at December 31, 2025, 19,138,677 at September 30, 2025, and 18,974,647 at December 31, 2024
210,222 209,671 207,816 
Retained earnings238,990 230,119 209,984 
Accumulated other comprehensive loss, net of tax(39,624)(42,214)(55,115)
Total shareholders’ equity409,588 397,576 362,685 
Total liabilities and shareholders’ equity$3,690,317 $3,612,264 $3,521,771 

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Community West Bancshares -- page 14
COMMUNITY WEST BANCSHARES
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)    
For the Three Months Ended For the Twelve Months Ended
December 31,September 30,December 31,December 31,December 31,
(In thousands, except share and per-share amounts)20252025202420252024
INTEREST INCOME:
Interest and fees on loans$41,543 $40,384 $38,247 $159,889 $130,166 
Interest on deposits in other banks919 1,149 1,311 4,178 4,355 
Interest and dividends on investment securities:
Taxable3,921 4,082 4,602 16,481 20,384 
Exempt from Federal income taxes1,275 1,273 1,319 5,162 5,483 
Total interest income47,658 46,888 45,479 185,710 160,388 
INTEREST EXPENSE:
Interest on deposits10,920 10,785 10,888 42,631 40,666 
Interest on borrowings103 251 1,651 3,308 5,690 
Interest on senior debt and subordinated debentures886 908 916 3,591 3,665 
Total interest expense11,909 11,944 13,455 49,530 50,021 
Net interest income before provision for credit losses35,749 34,944 32,024 136,180 110,367 
PROVISION FOR CREDIT LOSSES515 667 1,224 3,754 11,113 
Net interest income after provision for credit losses35,234 34,277 30,800 132,426 99,254 
NON-INTEREST INCOME: 
Service charges502 519 456 2,028 1,798 
Net realized losses on sales and calls of investment securities— (26)— (41)(4,199)
Other income2,045 2,473 1,847 8,501 8,846 
Total non-interest income2,547 2,966 2,303 10,488 6,445 
NON-INTEREST EXPENSES:
Salaries and employee benefits12,097 12,525 12,670 49,841 48,470 
Occupancy and equipment2,876 2,933 2,826 11,430 9,479 
Other expense7,479 6,709 7,692 29,115 36,752 
Total non-interest expenses22,452 22,167 23,188 90,386 94,701 
Income before provision for income taxes15,329 15,076 9,915 52,528 10,998 
PROVISION FOR INCOME TAXES4,159 4,203 3,020 14,360 3,332 
Net income$11,170 $10,873 $6,895 $38,168 $7,666 
Net income per common share:
Basic earnings per common share$0.59 $0.57 $0.37 $2.01 $0.45 
Weighted average common shares used in basic computation19,044,351 19,019,990 18,860,895 18,996,714 17,077,017 
Diluted earnings per common share$0.58 $0.57 $0.36 $2.00 $0.45 
Weighted average common shares used in diluted computation19,117,789 19,093,544 18,981,835 19,069,289 17,179,796 
Cash dividends per common share$0.12 $0.12 $0.12 $0.48 $0.48 
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Community West Bancshares -- page 15
COMMUNITY WEST BANCSHARES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
Dec. 31,Sept. 30,Jun. 30,Mar. 31,Dec. 31,
For the three months ended20252025202520252024
(In thousands, except share and per share amounts)
Net interest income$35,749 $34,944 $33,304 $32,182 $32,024 
Provision (credit) for credit losses515 667 2,613 (41)1,224 
Net interest income after provision (credit) for credit losses35,234 34,277 30,691 32,223 30,800 
Total non-interest income2,547 2,966 2,364 2,611 2,303 
Total non-interest expense22,452 22,167 22,296 23,470 23,188 
Provision for income taxes4,159 4,203 2,927 3,071 3,020 
Net income$11,170 $10,873 $7,832 $8,293 $6,895 
Basic earnings per common share$0.59 $0.57 $0.41 $0.44 $0.37 
Weighted average common shares used in basic computation19,044,351 19,019,990 18,987,217 18,933,830 18,860,895 
Diluted earnings per common share$0.58 $0.57 $0.41 $0.44 $0.36 
Weighted average common shares used in diluted computation19,117,789 19,093,544 19,042,750 19,014,773 18,981,835 





























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Community West Bancshares -- page 16
COMMUNITY WEST BANCSHARES
SELECTED RATIOS
(Unaudited)
Dec. 31,Sept. 30,Jun. 30,Mar. 31,Dec. 31,
As of and for the three months ended20252025202520252024
(Dollars in thousands, except per share amounts)
Allowance for credit losses to total loans1.18 %1.21 %1.20 %1.11 %1.11 %
Non-performing assets to total assets0.19 %0.20 %0.20 %0.20 %0.18 %
Total non-performing assets$6,955 $7,072 $6,769 $6,936 $6,461 
Total nonaccrual loans$6,955 $7,072 $6,769 $6,936 $6,461 
Total substandard loans$78,796 $67,069 $59,073 $47,605 $44,294 
Total special mention loans$54,155 $24,925 $19,706 $17,209 $17,384 
Net loan charge-offs (recoveries) $118 $(75)$13 $(125)$59 
Net charge-offs (recoveries) to average loans (annualized)0.02 %(0.01)%— %(0.02)%0.01 %
Book value per share$21.37 $20.77 $19.86 $19.53 $19.11 
Tangible book value per share (1)$15.89 $15.27 $14.34 $13.97 $13.52 
Total equity$409,588$397,576$380,002$371,937$362,685
Tangible common equity (1)$304,494$292,232$274,407$266,092$256,589
Cost of total deposits1.39 %1.39 %1.43 %1.45 %1.49 %
Interest and dividends on investment securities exempt from Federal income taxes$1,275 $1,273 $1,307 $1,307 $1,319 
Net interest margin (calculated on a fully tax equivalent basis) (2)4.24 %4.20 %4.10 %4.04 %3.95 %
Return on average assets (3)1.23 %1.21 %0.88 %0.94 %0.78 %
Return on average equity (3)11.03 %11.25 %8.30 %8.97 %7.55 %
Loan to deposit ratio82.04 %79.66 %80.12 %80.13 %80.19 %
Efficiency ratio58.63 %58.47 %62.51 %67.38 %67.55 %
Tier 1 leverage - Bancorp9.80 %9.52 %9.48 %9.36 %9.17 %
Tier 1 leverage - Bank11.44 %11.24 %11.25 %11.12 %10.94 %
Common equity tier 1 - Bancorp11.56 %11.60 %11.42 %11.39 %11.15 %
Common equity tier 1 - Bank13.70 %13.90 %13.76 %13.75 %13.54 %
Tier 1 risk-based capital - Bancorp11.73 %11.77 %11.59 %11.57 %11.33 %
Tier 1 risk-based capital - Bank13.70 %13.90 %13.76 %13.75 %13.54 %
Total risk-based capital - Bancorp13.97 %14.07 %13.89 %13.82 %13.58 %
Total risk based capital - Bank14.77 %14.99 %14.84 %14.75 %14.54 %
(1) Non-GAAP measure. See reconciliation of GAAP and Non-GAAP Financial Measures.
(2) Net Interest Margin is computed by dividing annualized quarterly net interest income by quarterly average interest-bearing assets.
(3) Computed by annualizing quarterly net income.
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Community West Bancshares -- page 17
COMMUNITY WEST BANCSHARES
SCHEDULE OF AVERAGE BALANCES AND AVERAGE YIELDS AND RATES
(Unaudited)

 
For the Three Months Ended
December 31, 2025
For the Three Months Ended
September 30, 2025
For the Three Months Ended
December 31, 2024
(Dollars in thousands)Average
Balance		Interest
Income/
Expense		Average
Interest
Rate		Average
Balance		Interest
Income/
Expense		Average
Interest
Rate		Average
Balance		Interest
Income/
Expense		Average
Interest
Rate
ASSETS      
Interest-earning deposits in other banks$92,489 $919 3.97 %$104,344 $1,149 4.40 %$106,464 $1,311 4.93 %
Securities
Taxable securities570,478 3,921 2.75 %580,463 4,082 2.81 %611,747 4,602 3.01 %
Non-taxable securities (1)237,514 1,613 2.72 %238,353 1,611 2.70 %240,850 1,669 2.77 %
Total investment securities807,992 5,534 2.74 %818,816 5,693 2.78 %852,597 6,271 2.94 %
Total securities and interest-earning deposits900,481 6,453 2.87 %923,160 6,842 2.96 %959,061 7,582 3.16 %
Loans (2) (3)2,475,184 41,543 6.66 %2,410,272 40,384 6.65 %2,302,768 38,247 6.61 %
Total interest-earning assets3,375,665 $47,996 5.64 %3,333,432 $47,226 5.62 %3,261,829 $45,829 5.59 %
Allowance for credit losses(29,627)  (28,758)(24,907)  
Non-accrual loans7,093   6,883 5,412   
Cash and due from banks33,766   35,484 35,177   
Bank premises and equipment23,742   23,963 24,236   
Other assets235,927   224,355 222,368   
Total average assets$3,646,566   $3,595,359 $3,524,115   
LIABILITIES AND SHAREHOLDERS’ EQUITY      
Interest-bearing liabilities:      
Savings and NOW accounts$660,200 $1,395 0.84 %$618,022 $1,220 0.78 %$545,763 $749 0.55 %
Money market accounts864,615 4,925 2.26 %861,403 4,953 2.28 %856,266 5,215 2.42 %
Time certificates of deposit500,605 4,600 3.65 %491,985 4,612 3.72 %456,381 4,924 4.29 %
Total interest-bearing deposits2,025,420 10,920 2.14 %1,971,410 10,785 2.17 %1,858,410 10,888 2.33 %
Other borrowed funds79,612 989 4.86 %92,325 1,159 4.91 %208,238 2,567 4.93 %
Total interest-bearing liabilities2,105,032 $11,909 2.24 %2,063,735 $11,944 2.30 %2,066,648 $13,455 2.59 %
Non-interest bearing demand deposits1,089,110   1,098,889 1,046,458   
Other liabilities47,449   46,235 45,801   
Shareholders’ equity404,975   386,500 365,208   
Total average liabilities and shareholders’ equity$3,646,566   $3,595,359 $3,524,115   
Interest income and rate earned on average earning assets $47,996 5.64 %$47,226 5.62 % $45,829 5.59 %
Interest expense and interest cost related to average interest-bearing liabilities 11,909 2.24 %11,944 2.30 % 13,455 2.59 %
Net interest income and net interest margin (4) $36,087 4.24 %$35,282 4.20 % $32,374 3.95 %

(1)    Calculated on a fully tax equivalent basis, which includes Federal tax benefits relating to income earned on municipal bonds totaling $339, $338, and $351 at December 31, 2025, September 30, 2025, and December 31, 2024, respectively.
(2)    Loan interest income includes net loan (costs) fees of $29, $(44), and $(117) at December 31, 2025, September 30, 2025, and December 31, 2024, respectively. Loan interest income includes an accretion on loan marks of $2,587,000, $2,567,000, and $3,352,000 at December 31, 2025, September 30, 2025, and December 31, 2024, respectively.
(3)    Average loans do not include non-accrual loans but do include interest income recovered from previously charged off loans.
(4)    Net interest margin is computed by dividing net interest income by total average interest-earning assets.













Community West Bancshares -- page 18


 
For the Twelve Months Ended
December 31, 2025
For the Twelve Months Ended
December 31, 2024
(Dollars in thousands)Average
Balance		Interest
Income/
Expense		Average
Interest
Rate		Average
Balance		Interest
Income/
Expense		Average
Interest
Rate
ASSETS   
Interest-earning deposits in other banks$96,566 $4,178 4.33 %$83,251 $4,355 5.23 %
Securities
Taxable securities585,937 16,481 2.81 %663,230 20,384 3.07 %
Non-taxable securities (1)238,760 6,534 2.74 %249,584 6,940 2.78 %
Total investment securities824,697 23,015 2.79 %912,814 27,324 2.99 %
Total securities and interest-earning deposits921,263 27,193 2.95 %996,065 31,679 3.18 %
Loans (2) (3)2,394,887 159,889 6.68 %1,978,386 130,166 6.58 %
Total interest-earning assets3,316,150 $187,082 5.64 %2,974,451 $161,845 5.44 %
Allowance for credit losses(27,612)  (22,635)
Non-accrual loans6,502   2,421 
Cash and due from banks35,188   29,884 
Bank premises and equipment23,991   20,297 
Other assets227,041   185,943 
Total average assets$3,581,260   $3,190,361 
LIABILITIES AND SHAREHOLDERS’ EQUITY   
Interest-bearing liabilities:   
Savings and NOW accounts$616,825 $4,508 0.73 %$481,447 $1,464 0.30 %
Money market accounts868,971 20,048 2.31 %759,203 20,284 2.67 %
Time certificates of deposit476,607 18,075 3.79 %389,667 18,918 4.85 %
Total interest-bearing deposits1,962,403 42,631 2.17 %1,630,317 40,666 2.49 %
Other borrowed funds135,966 6,899 5.07 %178,627 9,355 5.24 %
Total interest-bearing liabilities2,098,369 $49,530 2.36 %1,808,944 $50,021 2.76 %
Non-interest bearing demand deposits1,052,129   1,025,611 
Other liabilities45,934   38,664 
Shareholders’ equity384,828   317,142 
Total average liabilities and shareholders’ equity$3,581,260   $3,190,361 
Interest income and rate earned on average earning assets $187,082 5.64 %$161,845 5.44 %
Interest expense and interest cost related to average interest-bearing liabilities 49,530 2.36 %50,021 2.76 %
Net interest income and net interest margin (4) $137,552 4.15 %$111,824 3.76 %

(1)    Calculated on a fully tax equivalent basis, which includes Federal tax benefits relating to income earned on municipal bonds totaling $1,373 and $1,457 at December 31, 2025 and December 31, 2024, respectively.
(2)    Loan interest income includes net loan fees (costs) of $301 and $(622) at December 31, 2025 and December 31, 2024, respectively. Loan interest income includes an accretion on loan marks of $11,481,000 and $9,849,000 at December 31, 2025 and December 31, 2024, respectively.
(3)    Average loans do not include non-accrual loans but do include interest income recovered from previously charged off loans.
(4)    Net interest margin is computed by dividing net interest income by total average interest-earning assets.


CONTACTS:      Investor Contact:                 Media Contact:
Shannon Livingston                    Debbie Nalchajian-Cohen
Executive Vice President, Chief Financial Officer        Public Relations
Community West Bancshares                559-222-1322
916-235-4617