Community West Bancshares (NASDAQ: CWBC) and United Security Bancshares (NASDAQ: UBFO) announced they have received required regulatory approvals for their proposed merger, according to a press release.

The Federal Deposit Insurance Corporation and California Department of Financial Protection and Innovation granted approval, while the Federal Reserve Bank of San Francisco provided a waiver for the transaction. Under the agreement, United Security Bancshares will merge into Community West Bancshares, with United Security Bank merging into Community West Bank.

The transaction closing is expected in the second quarter of 2026, pending shareholder approval from both companies at special meetings scheduled for March 30, 2026. Operational systems conversion is anticipated to complete in the third quarter of 2026.

The combined entity will have approximately $5 billion in total assets and operate banking centers across 13 Central California counties in 31 communities.

"Receiving regulatory approval moves us one step closer to bringing our two organizations together," stated James J. Kim, CEO of Community West Bancshares. "We are proud of our 46-year history and pleased to welcome United Security Bank's team as we expand our ability to serve Central California."

Dennis R. Woods, Chairman, President and CEO of United Security Bancshares, said the milestone reflects shared values and community commitment that have guided both organizations.

Community West Bancshares, established in 1979 and headquartered in Fresno, operates full-service banking centers throughout Central California. United Security Bancshares, founded in 1987 and also based in Fresno, provides commercial and personal banking services through 13 branch offices across the region.