Community West Bancshares, United Security Bancshares to merge in $191.9m deal

Core Viewpoint - Community West Bancshares and United Security Bancshares have agreed to merge, creating a larger banking entity in Central California [1][2]. Group 1: Merger Details - The merger will see United Security Bank combine with Community West Bank, with Community West Bancshares as the surviving entity [1][2]. - United Security Bancshares shareholders will receive 0.4520 shares of Community West Bancshares common stock for each share held [2]. - The transaction is valued at approximately $191.9 million, equating to $10.88 per share for United Security Bancshares based on Community West Bancshares' closing share price of $24.06 as of December 16, 2025 [3]. Group 2: Financial Impact - Upon completion, the combined company is expected to have total assets of about $5 billion [4]. - Community West Bancshares shareholders will own approximately 70.6% of the merged company, while United Security Bancshares shareholders will hold 29.4% [4]. Group 3: Leadership and Strategy - The executive team will continue to be led by James Kim, CEO of Community West Bancshares and Community West Bank [5]. - The merger is viewed as a significant step in the long-term growth strategy, enhancing the capacity to support businesses and communities [5][6]. - The new board will consist of existing Community West Bancshares directors, two current United Security Bancshares directors, and an additional member to be appointed post-merger [6].