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Jeffrey Michael Martin, the Executive Vice President of Community West Bancshares (NASDAQ:CWBC), has recently increased his stake in the company. According to a recent filing, Martin acquired shares in a series of transactions that occurred over the past two years, with a total purchase value of $3,656. The prices paid for these shares ranged from $14.23 to $25.84 per share. The bank, currently valued at $365 million, trades at $19.18 per share with a P/E ratio of 43x. InvestingPro analysis indicates the stock is trading above its Fair Value.
These acquisitions were made as part of an automatic dividend reinvestment plan, resulting in a cumulative increase in Martin’s holdings. The transactions reflect Martin’s continued investment in the company, with the most recent purchase recorded on August 16, 2024. Notably, Community West Bancshares has maintained dividend payments for 14 consecutive years, currently offering a 2.5% yield. InvestingPro subscribers can access additional insights on insider trading patterns and 6 more key tips about CWBC’s financial outlook.
In other recent news, Community West Bancshares has revamped employment agreements with six of its executive officers, as reported in a recent SEC filing. The new contracts, effective from January 30, 2025, offer revised compensation structures, including base salaries and potential incentive bonuses. CEO James J. Kim will receive the highest base salary of $625,000, with a bonus target of 60%, while CFO Shannon R. Livingston and COO Blaine C. Lauhon will earn base salaries of $350,000 and $310,000, respectively.
The agreements also include benefits such as company cars or allowances, paid vacation, and restricted stock shares, and provide for severance payments under certain conditions. Additionally, the Bank has made separate arrangements with CFO Shannon R. Livingston for salary continuation and a Split Dollar Life Insurance (NSE:LIFI) Agreement. An amendment was made to CEO James J. Kim’s Executive Salary Continuation Agreement as well.
In another development, the Bank’s Chief Credit Officer, Patrick A. Luis, will resign effective February 28, 2025, due to reasons not related to disagreements with the company’s operations, policies, or practices. These recent developments were disclosed in the SEC Form 8-K filed by Community West Bancshares.
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