Community West Bancshares reports Q4 EPS 5c vs 38c last year

Book value per common share was $13.10 at December 31, 2023, compared to $13.11 at September 30, 2023, and $12.80 at December 31, 2022. The Bank’s capital position remains well-capitalized with a Tier 1 leverage ratio of 10.88% at December 31, 2023, compared to 10.84% at September 30, 2023, and 10.34% at December 31, 2022. “While 2023 proved to be a challenging year for our industry, we are pleased with our 2023 operating results as we continue benefiting from the tremendous efforts our team has put into this organization,” stated Martin Plourd, President & Chief Executive Officer. “Steady loan growth during the year was a result of focused efforts by our team of bankers, and asset quality continues to reflect minimal delinquencies. Our earnings for the year reflected lower net interest income, which was impacted by higher deposit costs and higher expenses associated with our pending merger, partially offset by higher asset yields.”