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Kirk Stovesand, a director at Community West Bancshares (NASDAQ:CWBC), a $360 million market cap regional bank, recently acquired 444 shares of the company’s common stock. The shares were purchased through a dividend reinvestment plan on February 21, 2025, at a price of $19 per share, totaling $8,436. The bank currently offers a 2.57% dividend yield and has maintained dividend payments for 14 consecutive years, according to InvestingPro. Following this transaction, Stovesand’s direct ownership in the bank stands at 72,539 shares. The acquisition was disclosed in a Form 4 filing with the Securities and Exchange Commission. The stock currently trades at a P/E ratio of 42.2, significantly above industry averages. InvestingPro analysis reveals 6 additional key insights about CWBC’s valuation and growth prospects.
In other recent news, Community West Bancshares has updated its employment agreements for six executive officers, as detailed in a recent SEC filing. The new contracts, effective January 30, 2025, revise compensation structures, including base salaries and potential incentive bonuses. CEO James J. Kim is set to receive the highest base salary of $625,000, with an incentive bonus target of 60%. Other executives, such as CFO Shannon R. Livingston and COO Blaine C. Lauhon, will have base salaries of $350,000 and $310,000, respectively, with bonus targets of 50% and 45%. The agreements also offer benefits like company cars or allowances, paid vacations, and participation in deferred compensation plans. Additionally, the filing highlights a Salary Continuation Agreement for CFO Livingston, providing annual payments for 15 years post-separation after age 62. An amendment was also made to CEO Kim’s Executive Salary Continuation Agreement, adjusting early termination benefits. The filing further notes the resignation of Chief Credit Officer Patrick A. Luis, effective February 28, 2025, without any disagreements related to company operations.
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