Pixel Tracker

Thursday, December 13 , 2018, 7:15 pm | Fair 56º

Sports: A Noozhawk Partnership with Santa Barbara Athletic Round Table, The Lab, and American Riviera Bank
Santa Barbara Athletic Round TableThe LabAmerican Riviera Bank

Community West Bancshares Reports 21 Percent Rise In Quarterly Net Income

The parent company of Community West Bank also announces a dividend for shareholders.


Community West Bancshares, parent company of Community West Bank, this week reported a 21 percent increase in net income to $997,000, or $0.17 per share diluted, for the quarter ended March 31, compared with $826,000, or $0.14 per share diluted, a year ago.

Net interest income for the comparative quarter ended March 31 increased $416,000, primarily because the interest income related to the company’s net new business exceeded the decline in the net interest margin.

Total interest income for the comparative quarter ended March 31 increased $963,000. A $1.7 million increase is attributed to the strong comparative growth in interest-earning assets, primarily in the commercial lending, SBA and manufactured housing portfolios, and is partially offset by a $770,000 decrease attributed to lower interest rates.

Interest expense on deposits for the comparative three-month period increased $383,000. A $662,000 increase is attributed to interest-bearing deposit growth and is partially offset by a $279,000 decrease attributed to lower interest rates. Interest expense on borrowings increased $164,000, which represents a $233,000 increase related to volume offset by $69,000 attributed to lower interest rates.

Noninterest income increased $239,000 from 2007, primarily from an increase in gain on loan sales and higher net loan servicing fee income.

The company’s total assets increased $18.9 million to $628.8 million at March 31. Net loans increased $17.2 million and combined liquid assets and investment securities increased by a net of $1 million.

The board of directors announced a regular quarterly dividend of $0.06 per common share, payable May 16 to shareholders of record as of the close of business on May 2. At this quarterly rate, the annual dividend is equivalent to $0.24 per common share.

Lynda Nahra, president and chief executive officer, said: “Carrying over from 2007, we continue to experience numerous challenges in the banking industry with declining interest rates, sustained market turmoil related to several large financial services’ companies, real estate market struggles and economic instability extending down to the consumer."

Community West Bancshares is a financial services company with headquarters in Goleta. The company is the holding company for Community West Bank, which has full-service branch banking offices in Goleta, Ventura, Santa Maria, Santa Barbara and Westlake Village.

Charles Baltuskonis is Community West Bancshares’ chief financial officer.

Support Noozhawk Today

You are an important ally in our mission to deliver clear, objective, high-quality professional news reporting for Santa Barbara, Goleta and the rest of Santa Barbara County. Join the Hawks Club today to help keep Noozhawk soaring.

We offer four membership levels: $5 a month, $10 a month, $25 a month or $1 a week. Payments can be made using a credit card, Apple Pay or Google Pay, or click here for information on recurring credit-card payments and a mailing address for checks.

Thank you for your vital support.

Become a Noozhawk Supporter

First name
Last name
Select your monthly membership
Or choose an annual membership

Payment Information

Membership Subscription

You are enrolling in . Thank you for joining the Hawks Club.

Payment Method

Pay by Credit Card:

Mastercard, Visa, American Express, Discover
One click only, please!

Pay with Apple Pay or Google Pay:

Noozhawk partners with Stripe to provide secure invoicing and payments processing.
You may cancel your membership at any time by sending an email to .(JavaScript must be enabled to view this email address).

  • Ask
  • Vote
  • Investigate
  • Answer

Noozhawk Asks: What’s Your Question?

Welcome to Noozhawk Asks, a new feature in which you ask the questions, you help decide what Noozhawk investigates, and you work with us to find the answers.

Here’s how it works: You share your questions with us in the nearby box. In some cases, we may work with you to find the answers. In others, we may ask you to vote on your top choices to help us narrow the scope. And we’ll be regularly asking you for your feedback on a specific issue or topic.

We also expect to work together with the reader who asked the winning questions to find the answer together. Noozhawk’s objective is to come at questions from a place of curiosity and openness, and we believe a transparent collaboration is the key to achieve it.

The results of our investigation will be published here in this Noozhawk Asks section. Once or twice a month, we plan to do a review of what was asked and answered.

Thanks for asking!

Click Here to Get Started >

Reader Comments

Noozhawk is no longer accepting reader comments on our articles. Click here for the announcement. Readers are instead invited to submit letters to the editor by emailing them to [email protected]. Please provide your full name and community, as well as contact information for verification purposes only.

Daily Noozhawk

Subscribe to Noozhawk's A.M. Report, our free e-Bulletin sent out every day at 4:15 a.m. with Noozhawk's top stories, hand-picked by the editors.

Sign Up Now >