California’s Community West to acquire United Security in $191.9M deal

Core Viewpoint - Community West Bank is set to acquire United Security Bank in a deal valued at approximately $191.9 million, expected to close in the second quarter of 2026, enhancing its market presence and asset base [1][2]. Group 1: Acquisition Details - The acquisition will add 13 branches to Community West Bank, increasing its total assets to around $5 billion [2]. - United Security investors will receive 0.4520 shares of Community West common stock, equating to about $10.88 per share they own [2]. - The deal's valuation is based on Community West's closing stock price of $24.06 as of the previous Tuesday [2]. Group 2: Management and Structure - Community West's board will expand by two seats, including Jagroop Gill from United Security's board and another director to be named later [3]. - Post-acquisition, Community West shareholders will hold approximately 70.6% of the combined entity, while United Security investors will own 29.4% [3]. Group 3: Strategic Importance - The acquisition is described as a significant advancement in Community West's long-term growth strategy and commitment to Central California communities [4]. - Both banks emphasize shared values in relationship banking, local decision-making, and responsible growth, aiming to create a more robust banking franchise [4]. - United Security's CEO highlighted the partnership as a natural fit, enhancing service capabilities and market reach [4]. Group 4: Leadership Transition - After the deal closes, United Security's CEO will take on the role of chairman emeritus, focusing on client retention [5].