Central Valley Community Bancorp Finalizes Community West Merger: Creating $3.5B Asset Giant Across Central California

Central Valley Community Bancorp has officially wrapped up its acquisition of Community West Bancshares as of April 1, 2024, marking a strategic expansion that transforms the combined entity into a significant regional banking force. The all-stock transaction values the merger consideration at approximately $143 million, based on Central Valley’s closing stock price of $19.89 per share on March 28, 2024.

The Deal Numbers Tell the Story

Community West shareholders received 0.79 shares of Central Valley common stock for each share they held, with Central Valley assuming all outstanding stock options from the acquired company. The resulting organization now commands total assets of approximately $3.5 billion, establishing itself as a formidable player in the regional banking landscape.

Geographic Footprint Nearly Doubled

What makes this merger particularly significant is the geographic reach it unlocks. The combined bank now operates 27 full-service banking centers—adding Community West Bank’s seven locations on the Central Coast to Central Valley Community Bank’s existing 20 centers across Greater Sacramento and San Joaquin Valley regions. This expanded territorial presence strengthens the organization’s ability to serve diverse market segments across Central California.

Rebranding and Market Identity

Under the new structure, Central Valley Community Bancorp assumes the Community West Bancshares name and transitions to trading under the NASDAQ ticker symbol CWBC. Similarly, Central Valley Community Bank rebrands as Community West Bank, reflecting the combined entity’s broader geographic footprint and market positioning.

Leadership Reorganization Positions for Growth

The board composition reflects a balanced integration, consisting of 15 directors—nine from the legacy Central Valley organization and six from Community West. James J. Kim assumes the CEO role for the combined entity and serves as President and CEO of the bank. Daniel J. Doyle chairs the board alongside Vice Chairman Robert H. Bartlein and President Martin E. Plourd.

The executive team welcomed two industry veterans through the merger: William F. Filippin joins as Executive Vice President and Regional Executive for the Coast region, while T. Joseph Stronks comes aboard as EVP and Chief Risk Officer. Teresa Gilio, who spent 15 years as EVP and Chief Administrative Officer, will retire effective October 1, 2024, following completion of systems integration projected for mid-August.

Internally, existing executives received expanded responsibilities: Blaine C. Lauhon transitions into the Chief Administrative Officer role, Jeffrey M. Martin becomes Chief Banking Officer, and A. Ken Ramos assumes the Regional Executive position for Greater Sacramento and San Joaquin Valley operations. Shannon Livingston (CFO), Patrick A. Luis (Chief Credit Officer), and Dawn Cagle (Chief Human Resources Officer) continue in their established roles.

Part of a Longer Growth Strategy

This acquisition represents the sixth major merger for Central Valley Community Bancorp, following previous acquisitions of Folsom Lake Bank (2017), Sierra Vista Bank (2016), Visalia Community Bank (2013), Service 1st Bank (2008), and Bank of Madera County (2005). The strategic pattern demonstrates management’s commitment to systematic expansion and regional consolidation in California’s banking sector.

The integration underscores how regional banks continue navigating consolidation trends, with leadership emphasizing client focus and community commitment as core drivers of the combined entity’s value proposition.