Community West Bancshares (CWBC) Reports Q2 Loss of $0.29

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Go back to Community West Bancshares (CWBC) Reports Q2 Loss of $0.29

Community West Bancshares Reports Second Quarter Results; Highlighted by Strong Loan Growth and Decrease in Nonaccrual Loans, net, to Lowest Level Since 2007; Quarterly Cash Dividend of $0.03 Per Comm

July 23, 2015 9:00 AM EDT

GOLETA, Calif., July 23, 2015 (GLOBE NEWSWIRE) -- Community West Bancshares (Community West or the Company), (NASDAQ: CWBC), parent company of Community West Bank (Bank), today reported that following a net $7.2 million loan litigation settlement, it had a net loss of $2.3 million in the second quarter of 2015 (2Q15) compared to net income of $1.8 million in the first quarter of 2015 (1Q15) and $1.7 million in the second quarter a year ago (2Q14). In the first six months of the year, Community West reported a net loss of $572,000 compared to net income of $3.1 million in the first six months... More