GOLETA, Calif., Jan. 28, 2014 (GLOBE NEWSWIRE) -- Community West Bancshares (Community West or the Company) (Nasdaq:CWBC), parent company of Community West Bank (Bank), today reported net income was $3.1 million in the fourth quarter of 2013 (4Q13) compared to $2.6 million in the third quarter of 2013 (3Q13) and $2.3 million in the fourth quarter a year ago (4Q12). For the full year, Community West earned $9.0 million compared to $3.2 million a year ago. Community West's results for 4Q13 include a $2.8 million tax benefit as a result of the reversal of its deferred tax asset valuation allowance.
Community West Bancshares Earns $3.1 Million In Fourth Quarter And $9.0 Million In 2013; Year Highlighted By Improved Credit Quality Metrics, Strong Loan Growth And Subsequent OCC Agreement Termination
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