Community West Bancshares (“Community West”) (NASDAQ:CWBC), parent company of Community West Bank, today announced that Martin E. Plourd was named Acting President and Chief Executive Officer of Community West Bancshares, subject to prior regulatory non-objection. Plourd is currently a Director and President and Chief Executive Officer of the Bank. William Peeples has been serving as Acting President and Chief Executive Officer of the Holding Company.
“We are honored and delighted to announce Marty Plourd as Acting President and CEO of Community West Bancshares,” said William R. Peeples, Chairman of the Board of the Company. “His high-energy, leadership abilities and proven expertise in community banking have already shown great value to our institution, as we continue to position ourselves for future success. Our goal all along has been to promote Marty to this position.”
Plourd joined Community West Bank in November 2011 as President and CEO and has been the architect behind the Company’s restructuring plan that was announced in February.
Mr. Peeples stepped into the Acting President and CEO position on an interim basis following the resignation of the Company’s former President and Chief Executive Officer. Mr. Peeples’ resignation was not due to any disagreement with the Company relating to its operations, policies or practices. Mr. Peeples will continue to serve on the Company’s Board of Directors as the Chairman of the Board.Company Overview Community West Bancshares is a financial services company with headquarters in Goleta, California. The Company is the holding company for Community West Bank, which has five full-service California branch banking offices, in Goleta, Santa Barbara, Santa Maria, Ventura and Westlake Village. The principal business activities of the Company are Relationship banking, Mortgage lending and SBA lending. Safe Harbor Disclosure This release contains forward-looking statements that reflect management’ s current views of future events and operations. These forward-looking statements are based on information currently available to the Company as of the date of this release. It is important to note that these forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including, but not limited to, the ability of the Company to implement its strategy and expand its lending operations.
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