FRESNO, Calif. — The Board of Directors of Community West Bancshares (NASDAQ: CWBC, or the ”Company”), the parent company of Community West Bank recently announced the successful completion of the previously announced merger, in which United Security Bancshares (NASDAQ: UBFO), the parent company of United Security Bank, merged with and into Community West Bancshares, with Community West Bancshares as the surviving company, and United Security Bank merged with and into Community West Bank, with Community West Bank as the surviving bank, in an all-stock transaction. Shareholders of both companies approved the merger at special meetings held on March 30, 2026. The merger follows the receipt of all required regulatory approvals and satisfaction of customary closing conditions.
Brean Capital served as exclusive financial advisor to CWBC in the merger.
Pursuant to the terms of the merger agreement, United Security Bancshares shareholders received 0.4520 shares of Community West Bancshares common stock for each share of United Security Bancshares 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 businesses, families, and communities. The combined organization expands Community West Bank’s presence throughout Greater Sacramento, the San Joaquin Valley, and the Central Coast.
As of the close of the transaction, the combined company, Community West Bancshares, is a Central California-based community bank with approximately $5 billion in total assets. It retains the banking offices of both banks, including full-service Banking Centers throughout Central California, located in 13 counties and serving 31 unique communities.
The resulting company’s Board of Directors consists of fourteen directors: twelve from Community West Bancshares and two from United Security Bancshares. James J. Kim serves as CEO and President of the combined Company and Bank, Daniel J. Doyle serves as Chairman of the Board, Jagroop “Jay” Gill, serves as Vice Chairman, and Andriana D. Majarian serves as Lead Independent Director.
“This merger represents a significant milestone for our Company and reflects the strength of two organizations coming together with shared values, building upon our foundation for long-term success,” said Doyle. “We are pleased to welcome new Directors, Jay Gill and Dora Westerlund. Additionally, we welcome Dennis R. Woods to the Bank, and thank those whose leadership helped guide the Company to this milestone.”
Woods commented, “We are grateful for the hard work, perseverance and collaborative efforts of our directors and management teams to make this merger possible. I look forward to helping the combined organization grow and thrive.”
“With approximately $5 billion in assets, we are entering a new era of opportunity for our Company,” said Kim. “This merger, and the continued success of our Company, are driven by our exceptional team of banking professionals. It strengthens our ability to invest in our Central California communities, expand lending capacity, and deliver enhanced solutions to our clients, while remaining true to our community banking roots and positioning us for continued growth and long-term value.”
“Equally important is our alignment in culture and client service. Together, we are creating a more robust and visible banking franchise with greater depth of expertise, expanded resources, and enhanced capacity to support our employees, businesses, families, and communities. We are now focused on thoughtful integration and ensuring a seamless experience for clients as we move toward a planned systems conversion in the summer of 2026.”
“We look forward to building a franchise with greater scale and an expanded suite of products and service offerings which will allow us to deliver exceptional service to our combined clients and generate significant value to our shareholders,” added Gill.
The United Security Bancshares merger is the seventh acquisition for the Company, which previously acquired Community West Bancshares, adopting the Community West Bancshares and Community West Bank names (2024), Folsom Lake Bank (2017), Sierra Vista Bank (2016), Visalia Community Bank (2013), Service 1st Bank (2008), and Bank of Madera County (2005).
Community West Bancshares (NASDAQ: CWBC) and its wholly owned subsidiary, Community West 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, Community West 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 Treasury Management Services. To learn more about Community West Bancshares, visit www.communitywestbank.com.
Brean Capital’s Investment Banking Group is dedicated to helping its clients achieve their strategic and financial goals. For more than 50 years, the Firm has specialized in providing capital raising, M&A and financial advisory services to middle market businesses. Throughout its history, Brean Capital has established a track record of providing its clients with deep market knowledge, commitment and experience to ensure a successful transaction. For more information, please visit: www.breancapital.com/InvestmentBanking.