Brief: Central Valley Community Bancorp And Community West Bancshares To Merge

Community West Bancshares

11/10/2023 02:32

Oct 10 (Reuters) - Central Valley Community Bancorp
 CVCY.O :
    * AND COMMUNITY WEST BANCSHARES TO MERGE
    * TRANSACTION IS VALUED AT $99.4 MILLION, OR $11.15 PER
COMMUNITY
WEST BANCSHARES COMMON SHARE
    * :  MERGER EXPECTED TO CLOSE IN Q2 OF 2024
    * CENTRAL VALLEY COMMUNITY - COMBINED COMPANY WILL RETAIN
BANKING
OFFICES OF BOTH BANKS AND ANTICIPATES NO BRANCH CLOSINGS AS A
RESULT OF MERGER
    * COMMUNITY WEST BANCSHARES SHAREHOLDERS WILL BE ENTITLED TO
RECEIVE 0.79 SHARES OF CO'S COMMON STOCK FOR EACH SHARE
    * : CO AND COMMUNITY WEST BANCSHARES BOARDS OF DIRECTORS
HAVE
UNANIMOUSLY APPROVED TRANSACTION
    * COMBINED COMPANY WILL HAVE APPROXIMATELY $3.6 BILLION IN
TOTAL
ASSETS
    * : JAMES J. KIM WILL SERVE AS CEO OF RESULTING COMPANY
    * : JAMES J. KIM, CEO OF CO AND CENTRAL VALLEY COMMUNITY
BANCORP,
WILL LEAD COMBINED BANK'S TEAM OF EXECUTIVES

Source text for Eikon:  ID:nBw5xH3Lqa 
Further company coverage:  CVCY.O 

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