Community West Bancshares Q3 net income rises sequentially as merger costs decline
CWBC•Community West Bancshares reported third-quarter net income of $8.07 million and EPS of $0.30, both down year over year due to merger and legal costs but up from the prior quarter as merger costs declined.
1. Quarterly results
Community West Bancshares reported third-quarter net income of $8.07 million, EPS of $0.30, net interest income of $53.34 million and a net interest margin of 4.65%. Net income and EPS fell year over year due to merger and legal costs, but rose sequentially as merger costs declined. The company completed its merger with United Security Bancshares, driving loan and deposit growth.
