Community West Bancshares Earns $1.6 Million, or $0.19 Per Diluted Share, in 1Q20; Results Reflect COVID-19 Response; Declares Quarterly Cash Dividend of $0.045 Per Common Share
Community West Bancshares (CWBC)
US:NASDAQ Investor Relations:
communitywest.com
Company Research
Source: GlobeNewswire
GOLETA, Calif., April 24, 2020 (GLOBE NEWSWIRE) -- Community West Bancshares (Community West or the Company), (NASDAQ: CWBC), parent company of Community West Bank (Bank), today reported net income of $1.6 million, or $0.19 per diluted share, for the first quarter of 2020 (1Q20), compared to $2.7 million, or $0.32 per diluted share, in 4Q19, and $1.5 million, or $0.18 per diluted share, in 1Q19. Response to the COVID-19 Pandemic “What began as a quarter with good momentum, has been disrupted by a global health crisis that set off an economic crisis which is now our highest priority. Community West Bank put its pandemic plan into action in mid-March to adjust to the potential impact of the COVID-19 virus pandemic on our employees, customers and our communities. Notwithstanding the impact of COVID-19, our first quarter 2020 earnings were solid, supported by net interest income expansion compared to a year ago and improved operating efficiencies,” stated Martin E. Plourd, President
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