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FOR IMMEDIATE RELEASE
COMMUNITY WEST BANCSHARES REPORTS EARNINGS RESULTS
FOR THE QUARTER ENDED MARCH 31, 2025, AND QUARTERLY DIVIDEND

FRESNO, CALIFORNIA...April 21, 2025...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 $8,293,000, and diluted earnings per share of $0.44 for the three months ended March 31, 2025, compared to $3,676,000 and $0.31 per diluted common share for the three months ended March 31, 2024.
FINANCIAL HIGHLIGHTS
•Net income during the first quarter increased to $8.3 million, or $0.44 per diluted common share, compared to net income of $6.9 million and $0.36, respectively, in the fourth quarter of 2024.
•Gross loans increased by $12.7 million during the first quarter, or 2.17% on an annualized basis.
•Total cost of deposits decreased to 1.45% for the quarter ended March 31, 2025 compared to 1.49% for the quarter ended December 31, 2024.
•Average non-interest bearing demand deposit accounts as a percentage of total average deposits totaled 34.30% and 36.02% for the quarters ended March 31, 2025 and December 31, 2024, respectively.
•Net interest margin increased to 4.04% for the quarter ended March 31, 2025, from 3.95% for the quarter ended December 31, 2024.
•Capital positions remain strong at March 31, 2025 with a 9.36% Tier 1 Leverage Ratio; a 11.39% Common Equity Tier 1 Ratio; a 11.57% Tier 1 Risk-Based Capital Ratio; and a 13.82% Total Risk-Based Capital Ratio.
•The Company declared a $0.12 per common share cash dividend, payable on May 16, 2025 to shareholders of record as of May 2, 2025.

“Our team’s commitment to empowering communities across Central California through trusted client advocacy is especially valued in uncertain economic environments,” said James J. Kim, President and CEO of the Bank and CEO of the Company. “Backed by more than four decades of conservative business practices, deposit stability and enduring client relationships, the Company remains a safe and stable financial partner. Even amid capital market volatility driven by shifting tariff policies, our team’s unwavering focus on client success continues to define and differentiate us.”

“We recently celebrated two major milestones: 45 years of building strong relationships and the one-year anniversary of the largest merger in the Company’s history. It is a privilege to continue embracing our founding values and working alongside such dedicated and inspiring professionals.”

“The Company’s first-quarter results reflect sequential improvement in both earnings and net interest margin,” added Shannon Livingston, Executive Vice President and Chief Financial Officer. “With another quarter of solid financial performance, the Company is well-positioned to continue building on this momentum.”

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Community West Bancshares -- page 2
Results of Operations
Three months ended
March 31,
December 31,
March 31,
(In thousands, except share and per-share amounts) 202520242024
Net interest income before (credit) provision for credit losses$32,182 $32,024 $19,073 
(Credit) provision for credit losses(41)1,224 575 
Net interest income after (credit) provision for credit losses32,223 30,800 18,498 
Total non-interest income2,611 2,303 1,636 
Total non-interest expenses23,470 23,188 15,333 
Income before provision for income taxes11,364 9,915 4,801 
Provision for income taxes3,071 3,020 1,125 
Net income$8,293 $6,895 $3,676 


Statement Regarding use of Non-GAAP Financial Measures
In this press release, Community West Bancshares’s 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
For the Three Months Ended
March 31,
December 31,
March 31,
(In thousands, except share and per-share amounts)202520242024
NET INCOME:
Net income (GAAP)$8,293 $6,895 $3,676 
Merger and conversion related costs:
Personnel and severance198 107 — 
Professional services— — 301 
Data processing and technology87 293 — 
Other— 68 82 
Total merger and conversion related costs285 468 383 
Loss on sale of investment securities— — 373 
Income tax benefit of non-core items(84)(138)(223)
Comparable net income (non-GAAP)$8,494 $7,225 $4,209 
DILUTED EARNINGS PER SHARE:
Weighted average diluted shares19,014,773 18,981,835 11,790,231 
Diluted earnings per share (GAAP)$0.44 $0.36 $0.31 
Comparable diluted earnings per share (non-GAAP)$0.45 $0.38 $0.36 
RETURN ON AVERAGE ASSETS
Average assets$3,528,337 $3,524,115 $2,420,810 
Return on average assets (GAAP)0.94 %0.78 %0.61 %
Comparable return on average assets (non-GAAP)0.96 %0.82 %0.70 %
RETURN ON AVERAGE EQUITY
Average stockholders' equity$369,903 $365,208 $207,667 
Return on average equity (GAAP)8.97 %7.55 %7.08 %
Comparable return on average equity (non-GAAP)9.19 %7.91 %8.11 %
EFFICIENCY RATIO
Non-interest expense (GAAP)$23,470 $23,188 $15,333 
Merger-related non-interest expenses(285)(468)(383)
Comparable non-interest expense (non-GAAP)23,185 22,720 14,950 
Net interest income32,182 32,024 19,073 
Non-interest income (GAAP)2,611 2,303 1,636 
Loss on sale of investment securities— — 373 
Comparable non-interest income (non-GAAP)$2,611 $2,303 $2,009 
Efficiency ratio (GAAP)67.46 %67.55 %74.04 %
Comparable efficiency ratio (non-GAAP)66.64 %66.19 %70.91 %





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Community West Bancshares -- page 4
For the quarter ended March 31, 2025, the Company reported unaudited consolidated net income of $8,293,000 and diluted earnings per common share of $0.44, compared to consolidated net income of $6,895,000 and $0.36 per fully diluted share for the trailing quarter, and consolidated net income of $3,676,000 and $0.31 per diluted share for the same period in 2024. The earnings profile of the Company has improved during the quarter due to improvement in net interest income and margin, a decrease in the provision for credit losses, and increased non-interest income, partially offset by an increase in non-interest expenses.

Annualized return on average equity (ROAE) for the quarter ended March 31, 2025 was 8.97%, compared to 7.08% for the same period of 2024. Annualized return on average assets (ROAA) was 0.94% for the quarter ended March 31, 2025 compared to 0.61% 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 3.02% for the quarter ended March 31, 2025, compared to 3.07% for the quarter ended March 31, 2024 and 3.16% for the quarter ended December 31, 2024.

Total average loans increased by $1,050,929,000 to $2,333,997,000 for the quarter ended March 31, 2025, from $1,283,068,000 for the quarter ended March 31, 2024 and increased by $25,817,000 from $2,308,180,000 for the quarter ended December 31, 2024. The year over year increase was primarily due to the consummation of the merger, in which loans with a fair value of were recorded on the consolidated balance sheets as of April 1, 2024. The effective yield on average loans was 6.69% for the quarter ended March 31, 2025, compared to 5.74% and 6.61% for the quarters ended March 31, 2024 and December 31, 2024, respectively.

The Company’s net interest margin (fully tax equivalent basis) was 4.04% for the quarter ended March 31, 2025, compared to 3.42% for the quarter ended March 31, 2024 and 3.95% for the quarter ended December 31, 2024. Net interest income, before provision for credit losses, increased by $13,109,000 or 68.73%, to $32,182,000 for the first quarter of 2025, compared to $19,073,000 for the same period in 2024. In addition to the increase in average loans due to the merger and organic loan growth, the Company's yield on interest earning assets has increased from 4.58% for the quarter ended March 31, 2024 to 5.65% for the quarter ended March 31, 2025. Additionally, the Company has been impacted by higher costs on interest-bearing liabilities, in which the cost of total deposits increased to 1.45% from 0.98% when comparing the quarters ended March 31, 2025 and 2024. The increase in the cost of deposits is primarily attributed to volume and rate increases in the money market and time deposit portfolios from both acquired deposits from the merger and the Company’s existing base. Net interest income during the three months ended March 31, 2025 and 2024 and December 31, 2024 benefited by approximately 25 basis points ($2,052,000), one basis point ($41,000), and 24 basis points ($1,909,000), respectively, from the net accretion of fair value marks.


Non-Interest Income - The following tables present the key components of non-interest income for the periods indicated:
Three months ended
March 31,December 31,
(Dollars in thousands)20252024$ Change% Change
Service charges$502 $456 $46 10.1 %
Appreciation in cash surrender value of bank owned life insurance366 354 12 3.4 %
Interchange fees516 436 80 18.3 %
Loan placement fees171 232 (61)(26.3)%
Federal Home Loan Bank dividends241 241 — — %
Other income815 584 231 39.6 %
Total non-interest income$2,611 $2,303 $308 13.4 %

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Community West Bancshares -- page 5
Three months ended March 31,
(Dollars in thousands)20252024$ Change% Change
Service charges$502 $384 $118 30.7 %
Appreciation in cash surrender value of bank owned life insurance366 275 91 33.1 %
Interchange fees516 405 111 27.4 %
Loan placement fees171 166 5 3.0 %
Net realized losses on sales and calls of investment securities— (373)373 (100.0)%
Federal Home Loan Bank dividends241 157 84 53.5 %
Other income815 622 193 31.0 %
Total non-interest income$2,611 $1,636 $975 59.6 %

The increase in total non-interest income for quarter ended March 31, 2025 as compared to the trailing quarter was due to improvements in the fair value adjustment of the Company’s equity security.

Increases in non-interest income as compared to the prior year quarter was due to the consummation of the merger as of April 1, 2024 and no realized losses on sales of investment securities.

Non-Interest Expense - The following table presents the key components of non-interest expense for the periods indicated:
Three months ended
March 31,December 31,
(Dollars in thousands)20252024$ Change% Change
Salaries and employee benefits$12,959 $12,670 $289 2.3 %
Occupancy and equipment2,827 2,826 1 — %
Information technology1,902 1,712 190 11.1 %
Regulatory assessments491 446 45 10.1 %
Data processing expense800 738 62 8.4 %
Professional services864 638 226 35.4 %
ATM/Debit card expenses393 572 (179)(31.3)%
Advertising261 153 108 70.6 %
Directors’ expenses216 201 15 7.5 %
Merger and acquisition expense276 467 (191)(40.9)%
Loan related expenses 212 316 (104)(32.9)%
Personnel other101 112 (11)(9.8)%
Amortization of core deposit intangibles250 250 — — %
Other expense1,918 2,087 (169)(8.1)%
Total non-interest expenses$23,470 $23,188 $282 1.2 %

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Community West Bancshares -- page 6
Three months ended March 31,
(Dollars in thousands)20252024$ Change% Change
Salaries and employee benefits$12,959 $8,638 $4,321 50.0 %
Occupancy and equipment2,827 1,543 1,284 83.2 %
Information technology1,902 1,021 881 86.3 %
Regulatory assessments491 322 169 52.5 %
Data processing expense800 685 115 16.8 %
Professional services864 625 239 38.2 %
ATM/Debit card expenses393 214 179 83.6 %
Advertising261 151 110 72.8 %
Directors’ expenses216 169 47 27.8 %
Merger and acquisition expense276 383 (107)(27.9)%
Loan related expenses 212 92 120 130.4 %
Personnel other101 131 (30)(22.9)%
Amortization of core deposit intangibles250 — 250 — %
Other expense1,918 1,359 559 41.1 %
Total non-interest expenses$23,470 $15,333 $8,137 53.1 %

During the first quarter of 2025, total non-interest expense increased $282,000 as compared to the trailing quarter. The increase was driven primarily in salary and employee benefits, professional services, and information technology. The increase in salary and employee benefits was due to annual resets in payroll taxes and one-time severance payments. Professional services increased due to increased audit and consulting fees. Information technology increases were due to continued investments to enhance digital products.

Increases in non-interest expenses as compared to the prior year quarter was due to the consummation of the merger as of April 1, 2024.

Balance Sheet Summary
Total assets for the period ended March 31, 2025 increased $31,315,000 or 0.89%, compared to the period ended December 31, 2024. Total average assets for the quarter ended March 31, 2025 were $3,528,337,000 compared to $2,420,810,000 for the quarter ended March 31, 2024 and $3,524,115,000 for the quarter ended December 31, 2024, an increase of $1,107,527,000 or 45.8% and an increase of $4,222,000 or 0.12%, respectively. As a result of the merger on April 1, 2024, the Company recorded goodwill of approximately $43 million and core deposit intangibles of $10.0 million.

For the quarter ended March 31, 2025, the Company’s average gross investment securities decreased by $125,834,000, or 13.00%, compared to the quarter ended March 31, 2024, and decreased by $10,163,000, or 1.19%, compared to the quarter ended December 31, 2024. This decrease compared to the prior year was the result of sales and maturities of available for sale (AFS) securities.

In comparing the quarter ended March 31, 2025 to the quarters ended March 31, 2024 and December 31, 2024, total average gross loans increased $1,050,929,000 or 81.91%, and increased by $25,817,000 or 1.12%, respectively.




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Community West Bancshares -- page 7

The following table shows the Company’s outstanding loan portfolio composition as of March 31, 2025 and December 31, 2024:
March 31, 2025
December 31, 2024
Loan Type (dollars in thousands)Amount% of TotalAmount% of Total
Commercial:
Commercial and industrial$146,736 6.2 %$143,422 6.1 %
Agricultural production28,045 1.2 %37,323 1.6 %
Total commercial174,781 7.4 %180,745 7.7 %
Real estate:
Construction & other land loans71,075 3.0 %67,869 2.9 %
Commercial real estate - owner occupied325,838 13.9 %323,188 13.9 %
Commercial real estate - non-owner occupied923,589 39.3 %913,165 39.1 %
Farmland137,587 5.9 %139,815 6.0 %
Multi-family residential143,524 6.1 %133,595 5.7 %
1-4 family - close-ended121,751 5.2 %123,445 5.3 %
1-4 family - revolving32,477 1.4 %35,421 1.5 %
Total real estate1,755,841 74.8 %1,736,498 74.4 %
Consumer:
Manufactured housing319,211 13.6 %322,263 13.8 %
Other installment95,180 4.1 %92,839 4.0 %
Total consumer414,391 17.7 %415,102 17.8 %
Net deferred origination costs1,884 0.1 %1,876 0.1 %
Total gross loans2,346,897 100.0 %2,334,221 100.0 %
Allowance for credit losses(26,095)(25,803)
Total loans$2,320,802 $2,308,418 

The composition of deposits at March 31, 2025 and December 31, 2024 is summarized in the table below:
March 31, 2025December 31, 2024
(Dollars in thousands)Amount% of TotalAmount% of Total
NOW accounts$422,834 14.4 %$470,548 16.2 %
MMA accounts865,973 29.6 %843,145 29.0 %
Time deposits453,460 15.5 %443,284 15.2 %
Savings deposits174,123 5.9 %172,976 5.9 %
Total interest-bearing1,916,390 65.4 %1,929,953 66.3 %
Non-interest bearing1,012,548 34.6 %980,824 33.7 %
Total deposits$2,928,938 100.0 %$2,910,777 100.0 %

Total average deposits increased $851,336,000 or 41.42%, to $2,906,477,000 for the quarter ended March 31, 2025, compared to $2,055,141,000 for the quarter ended March 31, 2024, and increased $1,609,000, or 0.06%, compared to $2,904,868,000 for the quarter ended December 31, 2024. The Company’s ratio of average non-interest bearing deposits to total deposits was 34.30% for the quarter ended March 31, 2025, compared to 45.30% and 36.02% for the quarters ended March 31, 2024 and December 31, 2024, respectively.

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Community West Bancshares -- page 8
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 increased $27,994,000 to $148,392,000 compared to $120,398,000 at December 31, 2024. The Company had $134,377,000, net of discount, in short-term borrowings at March 31, 2025 compared to $133,442,000 at December 31, 2024.

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

Liquidity Sources (in thousands)
March 31, 2025
December 31, 2024
Cash and cash equivalents$148,392 $120,398 
Unpledged investment securities361,254 403,669 
Excess pledged securities70,306 69,866 
FHLB borrowing availability589,261 576,556 
Unsecured lines of credit availability110,000 110,000 
Funds available through FRB discount window3,770 3,828 
Total$1,282,983 $1,284,317 



Credit Quality
During the first quarter of 2025, the Company recorded net loan recoveries of $125,000 compared to $525,000 in net charge-offs for the same period in 2024. The net charge-off ratio reflects annualized net recoveries to average loans of (0.02)% for the quarter ended March 31, 2025, compared to annualized net charge-offs of 0.16% for the quarter ended March 31, 2024. During the quarter ended March 31, 2025, the Company recorded a provision of $168,000 for credit losses on loans, compared to a $530,000 provision for loan losses for the quarter ended March 31, 2024. In addition to the provision of credit losses on loans for the quarter ended March 31, 2025, the Company recorded a credit to the provision for credit losses on held-to-maturity securities of $182,000 as compared to a credit to the provision of $157,000 in the prior year quarter. The Company recorded a credit to the provision for unfunded loan commitments totaling $27,000 for the quarter ended March 31, 2025 compared to a provision of $202,000 in the prior year quarter.

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)March 31, 2025% of TotalDecember 31, 2024% of TotalMarch 31, 2024% of Total
Pass$2,282,083 97.3 %$2,272,543 97.4 %$1,262,046 98.1 %
Special mention17,209 0.7 %17,384 0.7 %5,595 0.4 %
Substandard47,605 2.0 %44,294 1.9 %18,968 1.6 %
Doubtful— — — 
Total$2,346,897 100.0 %$2,334,221 100.0 %$1,286,609 100.0 %
At March 31, 2025, the allowance for credit losses for loans was $26,095,000, compared to $25,803,000 at December 31, 2024, a net increase of $292,000 reflecting a provision for loan losses of $168,000 and net recoveries during the period. The allowance for credit losses as a percentage of total loans was 1.11% as of March 31, 2025 and December 31, 2024. The Company believes the allowance for credit losses is adequate to provide for expected credit losses within the loan portfolio at March 31, 2025.
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Community West Bancshares -- page 9
Cash Dividend Declared
On April 16, 2025, 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 May 16, 2025 to shareholders of record as of May 2, 2025. The Company continues to be well capitalized and expects to maintain adequate capital levels.

Company Overview
Effective on April 1, 2024, Central Valley Community Bancorp completed its merger transaction with Community West Bancshares. Shortly thereafter Community West Bank, a wholly owned subsidiary of Community West Bancshares, merged with and into Central Valley Community Bank, a wholly-owned subsidiary of Central Valley Community Bancorp, with Central Valley Community Bank being the surviving banking institution. Effective with these mergers, the corporate names of Central Valley Community Bancorp and Central Valley Community Bank were changed to Community West Bancshares and Community West Bank, respectively.

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 10

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: 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 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; risks related to the merger, including, among others, the expected business expansion may be less successful as projected, deposit attrition, customer or employee loss and/or revenue loss as a result of the merger; 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 11
COMMUNITY WEST BANCSHARES
CONSOLIDATED BALANCE SHEETS
(Unaudited)
March 31,
December 31,
(In thousands, except share amounts)20252024
ASSETS
Cash and due from banks$35,710 $28,029 
Interest-earning deposits in other banks112,682 92,369 
Total cash and cash equivalents148,392 120,398 
Available-for-sale debt securities, at fair value, net of allowance for credit losses of $0, with an amortized cost of $525,485 and $536,334 at March 31, 2025 and December 31, 2024, respectively
469,033 477,113 
Held-to-maturity debt securities, at amortized cost less allowance for credit losses of $974 and $1,156 at March 31, 2025 and December 31, 2024, respectively301,160 301,359 
Equity securities, at fair value6,684 6,586 
Loans, less allowance for credit losses of $26,095 and $25,803 at March 31, 2025 and December 31, 2024, respectively2,320,802 2,308,418 
Bank premises and equipment, net23,828 24,469 
Bank owned life insurance53,685 53,319 
Federal Home Loan Bank stock10,978 10,978 
Goodwill96,828 96,828 
Core deposit intangibles9,017 9,268 
Accrued interest receivable and other assets112,679 113,035 
Total assets$3,553,086 $3,521,771 
LIABILITIES AND SHAREHOLDERS’ EQUITY 
Deposits:
Non-interest bearing$1,012,548 $980,824 
Interest bearing1,916,390 1,929,953 
Total deposits2,928,938 2,910,777 
Short-term borrowings134,377 133,442 
Senior debt and subordinated debentures69,925 69,889 
Accrued interest payable and other liabilities47,909 44,978 
Total liabilities3,181,149 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: 19,061,009 and 18,974,647 at March 31, 2025 and December 31, 2024, respectively208,698 207,816 
Retained earnings215,999 209,984 
Accumulated other comprehensive loss, net of tax(52,760)(55,115)
Total shareholders’ equity371,937 362,685 
Total liabilities and shareholders’ equity$3,553,086 $3,521,771 

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Community West Bancshares -- page 12
COMMUNITY WEST BANCSHARES
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)    
For the Three Months Ended
March 31,December 31,March 31,
(In thousands, except share and per-share amounts)202520242024
INTEREST INCOME:
Interest and fees on loans$38,425 $38,247 $18,299 
Interest on deposits in other banks1,056 1,311 432 
Interest and dividends on investment securities:
Taxable4,350 4,602 5,500 
Exempt from Federal income taxes1,307 1,319 1,396 
Total interest income45,138 45,479 25,627 
INTEREST EXPENSE:
Interest on deposits10,388 10,888 5,018 
Interest on short-term borrowings895 1,651 621 
Interest on senior debt and subordinated debentures1,673 916 915 
Total interest expense12,956 13,455 6,554 
Net interest income before (credit) provision for credit losses32,182 32,024 19,073 
(CREDIT) PROVISION FOR CREDIT LOSSES(41)1,224 575 
Net interest income after (credit) provision for credit losses32,223 30,800 18,498 
NON-INTEREST INCOME:
Service charges502 456 384 
Net realized losses on sales and calls of investment securities— — (373)
Other income2,109 1,847 1,625 
Total non-interest income2,611 2,303 1,636 
NON-INTEREST EXPENSES:
Salaries and employee benefits12,959 12,670 8,638 
Occupancy and equipment2,827 2,826 1,543 
Other expense7,684 7,692 5,152 
Total non-interest expenses23,470 23,188 15,333 
Income before provision for income taxes11,364 9,915 4,801 
PROVISION FOR INCOME TAXES3,071 3,020 1,125 
Net income$8,293 $6,895 $3,676 
Net income per common share:
Basic earnings per common share$0.44 $0.37 $0.31 
Weighted average common shares used in basic computation18,933,830 18,860,895 11,750,528 
Diluted earnings per common share$0.44 $0.36 $0.31 
Weighted average common shares used in diluted computation19,014,773 18,981,835 11,790,231 
Cash dividends per common share$0.12 $0.12 $0.12 
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Community West Bancshares -- page 13
COMMUNITY WEST BANCSHARES
CONDENSED CONSOLIDATED INCOME STATEMENTS
(Unaudited)
Mar. 31,Dec. 31,Sept. 30,June 30,Mar. 31,
For the three months ended20252024202420242024
(In thousands, except share and per share amounts)
Net interest income$32,182 $32,024 $30,214 $29,057 $19,073 
(Credit) provision for credit losses(41)1,224 (518)9,831 575 
Net interest income after (credit) provision for credit losses32,223 30,800 30,732 19,226 18,498 
Total non-interest income2,611 2,303 1,105 1,400 1,636 
Total non-interest expense23,470 23,188 27,677 28,503 15,333 
Provision (benefit) for income taxes3,071 3,020 775 (1,587)1,125 
Net income (loss)$8,293 $6,895 $3,385 $(6,290)$3,676 
Basic earnings (loss) per common share$0.44 $0.37 $0.18 $(0.33)$0.31 
Weighted average common shares used in basic computation18,933,830 18,860,895 18,843,606 18,814,020 11,750,528 
Diluted earnings (loss) per common share$0.44 $0.36 $0.18 $(0.33)$0.31 
Weighted average common shares used in diluted computation19,014,773 18,981,835 18,965,434 18,937,036 11,790,231 

COMMUNITY WEST BANCSHARES
SELECTED RATIOS
(Unaudited)
Mar. 31,Dec. 31,Sept. 30,Jun. 30,Mar. 31,
As of and for the three months ended20252024202420242024
(Dollars in thousands, except per share amounts)
Allowance for credit losses to total loans1.11 %1.11 %1.08 %1.11 %1.14 %
Non-performing assets to total assets0.20 %0.18 %0.09 %0.08 %— %
Total non-performing assets$6,936 $6,461 $3,250 $2,806 $— 
Total nonaccrual loans$6,936 $6,461 $3,250 $2,806 $— 
Total substandard loans$47,605 $44,294 $39,637 $39,647 $18,968 
Total special mention loans$17,209 $17,384 $28,799 $25,576 $5,595 
Net loan charge-offs (recoveries)$(125)$59 $(162)$41 $525 
Net charge-offs (recoveries) to average loans (annualized)(0.02)%0.01 %(0.03)%0.01 %0.16 %
Book value per share$19.51 $19.11 $19.19 $18.49 $17.89 
Tangible book value per share (1)$13.96 $13.52 $13.60 $12.89 $13.35 
Total equity$371,937 $362,685 $363,515 $350,242 $211,717 
Tangible common equity (1)$266,092 $256,589 $257,618 $244,044 $157,935 
Cost of total deposits1.45 %1.49 %1.69 %1.71 %0.98 %
Interest and dividends on investment securities exempt from Federal income taxes$1,307 $1,319 $1,372 $1,396 $1,396 
Net interest margin (calculated on a fully tax equivalent basis) (2)4.04 %3.95 %3.69 %3.65 %3.42 %
Return on average assets (3)0.94 %0.78 %0.38 %(0.73)%0.61 %
Return on average equity (3)8.97 %7.55 %3.84 %(7.39)%7.08 %
Loan to deposit ratio80.13 %80.19 %78.62 %78.65 %63.34 %
Efficiency ratio67.38 %67.55 %88.37 %93.58 %74.04 %
Tier 1 leverage - Bancorp9.36 %9.17 %9.38 %9.14 %9.34 %
Tier 1 leverage - Bank11.12 %10.94 %11.24 %11.03 %11.95 %
Common equity tier 1 - Bancorp11.39 %11.15 %11.12 %11.36 %12.94 %
Common equity tier 1 - Bank13.75 %13.54 %13.55 %13.94 %16.94 %
Tier 1 risk-based capital - Bancorp11.57 %11.33 %11.30 %11.55 %13.24 %
Tier 1 risk-based capital - Bank13.75 %13.54 %13.55 %13.94 %16.94 %
Total risk-based capital - Bancorp13.82 %13.58 %13.55 %13.87 %16.25 %
Total risk based capital - Bank14.75 %14.54 %14.53 %14.96 %17.92 %
(1) Non-GAAP measure. Tangible common equity equals totals shareholder’s equity ($371,937 as of 3/31/2025) minus goodwill and core deposit intangible ($105,845 as of 3/31/2025). Tangible book value per share equals tangible common equity total ($266,092 as of 3/31/2025) divided by shares outstanding (19,061,009 as of 3/31/2025).
(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 14
COMMUNITY WEST BANCSHARES
SCHEDULE OF AVERAGE BALANCES AND AVERAGE YIELDS AND RATES
(Unaudited)

 
For the Three Months Ended
March 31, 2025
For the Three Months Ended
December 31, 2024
For the Three Months Ended
March 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$93,217 $1,054 4.52 %$106,464 $1,311 4.93 %$34,200 $432 5.05 %
Securities
Taxable securities602,427 4,352 2.89 %611,747 4,602 3.01 %714,160 5,500 3.08 %
Non-taxable securities (1)240,007 1,655 2.76 %240,850 1,669 2.77 %254,108 1,768 2.78 %
Total investment securities842,434 6,007 2.85 %852,597 6,271 2.94 %968,268 7,268 3.00 %
Total securities and interest-earning deposits935,651 7,061 3.02 %959,061 7,582 3.16 %1,002,468 7,700 3.07 %
Loans (2) (3)2,327,832 38,425 6.69 %2,302,768 38,247 6.61 %1,283,068 18,299 5.74 %
Total interest-earning assets3,263,483 $45,486 5.65 %3,261,829 $45,829 5.59 %2,285,536 $25,999 4.58 %
Allowance for credit losses(25,858)  (24,907)(14,348)  
Non-accrual loans6,165   5,412 —   
Cash and due from banks35,918   35,177 26,772   
Bank premises and equipment24,326   24,236 14,177   
Other assets224,303   222,368 108,673   
Total average assets$3,528,337   $3,524,115 $2,420,810   
LIABILITIES AND SHAREHOLDERS’ EQUITY      
Interest-bearing liabilities:      
Savings and NOW accounts$586,698 $859 0.59 %$545,763 $749 0.55 %$421,412 $255 0.24 %
Money market accounts872,896 5,101 2.37 %856,266 5,215 2.42 %514,909 2,843 2.22 %
Time certificates of deposit449,962 4,429 3.99 %456,381 4,924 4.29 %187,775 1,920 4.11 %
Total interest-bearing deposits1,909,556 10,389 2.21 %1,858,410 10,888 2.33 %1,124,096 5,018 1.80 %
Other borrowed funds206,162 2,568 4.98 %208,238 2,567 4.93 %122,419 1,536 5.02 %
Total interest-bearing liabilities2,115,718 $12,957 2.48 %2,066,648 $13,455 2.59 %1,246,515 $6,554 2.11 %
Non-interest bearing demand deposits996,921   1,046,458 931,045   
Other liabilities45,795   45,801 35,583   
Shareholders’ equity369,903   365,208 207,667   
Total average liabilities and shareholders’ equity$3,528,337   $3,524,115 $2,420,810   
Interest income and rate earned on average earning assets $45,486 5.65 %$45,829 5.59 % $25,999 4.58 %
Interest expense and interest cost related to average interest-bearing liabilities 12,957 2.48 %13,455 2.59 % 6,554 2.11 %
Net interest income and net interest margin (4) $32,529 4.04 %$32,374 3.95 % $19,445 3.42 %

(1)    Calculated on a fully tax equivalent basis, which includes Federal tax benefits relating to income earned on municipal bonds totaling $348, $351, and $371 at March 31, 2025, December 31, 2024, and March 31, 2024, respectively.
(2)    Loan interest income includes loan (costs) fees of $99, $(117), and $139 at March 31, 2025, December 31, 2024, and March 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                Community West Bancshares
916-235-4617                    559-222-1322