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Community West Bancshares (NASDAQ:CWBC), a $361 million market cap regional bank, saw its President Martin E. Plourd recently acquire 424 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. According to InvestingPro analysis, the stock currently trades above its Fair Value. The shares were purchased at a price of $17.36 each, totaling $7,360. Following this transaction, Plourd holds a total of 92,566 shares directly. The acquisition was part of the company’s Employee Stock Purchase Plan (ESPP). The stock currently offers a 2.51% dividend yield and has maintained dividend payments for 14 consecutive years - one of several key metrics available on InvestingPro, which features 12+ additional investment insights for CWBC.
In other recent news, Community West Bancshares has made significant updates to its executive contracts, as revealed in a recent SEC filing. The company has entered into new employment agreements with six executive officers, effective January 30, 2025. These agreements outline revised compensation packages, including base salaries and potential incentive bonuses. Notably, CEO James J. Kim will receive a base salary of $625,000 with a 60% bonus target, while CFO Shannon R. Livingston and COO Blaine C. Lauhon will earn base salaries of $350,000 and $310,000, respectively, with bonus targets of 50% and 45%. The agreements also include benefits such as company cars, paid vacation, and restricted stock shares, alongside provisions for severance payments in certain termination scenarios. Additionally, Community West Bancshares has established a Salary Continuation Agreement and a Split Dollar Life Insurance (NSE:LIFI) Agreement with CFO Shannon R. Livingston. An amendment to CEO James J. Kim’s Executive Salary Continuation Agreement has also been made, altering early termination benefits. The filing further announced the resignation of Chief Credit Officer Patrick A. Luis, effective February 28, 2025, unrelated to any disagreements with company operations.
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