Goleta’s Community West Bank has strong third quarter
Community West Bancshares, parent company of Community West Bank headquartered in Goleta, reported on Oct. 22 net income of $1.6 million in the third quarter of 2015 compared to net income of $1.7 million in the third quarter a year ago.
Community West reported net income of $1.0 million in the first nine months of the year, compared to net income of $4.9 million in the first nine months of 2014. Excluding a loan litigation settlement, Community West’s net income for the nine-month period would have been $5.2 million.
“Our third quarter results were generated by solid loan growth and a healthy net interest margin,” said Community West Bank President and CEO Martin E. Plourd. “We are making meaningful progress in building our franchise by strengthening our balance sheet and positioning the bank for all future growth opportunities.”
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