Community West Bank acquires United Security Bank
Community West Bancshares will substantially grow its footprint in the Central Valley with the acquisition of United Security Bank in an all-stock transaction.
The combined bank will operate under the Community West name, and assets will total around $5 billion, according to a statement announcing the merger on Dec. 17.
Both bank boards have approved the merger which is expected to close in the second quarter of 2026 after regulatory reviews and shareholder votes.
United Security has branches in Fresno, Madera, Kern, San Joaquin and Santa Clara counties. Both banks are based in Fresno.
United Security Bancshares shareholders will receive 0.4520 shares of Community West Bancshares common stock for each common share. That puts the value of the transaction at $191.9 million or about $10.88 per United Security share; after the announcement Community West shares fell around 3% to $23.29 and United Security shares fell seven cents or 0.7% to $10.33
The Community West Bancshares board and CEO James J. Kim will lead the combined team. Jagroop “Jay” Gill and an additional nominee will join the Community West board while Dennis R. Woods, United Security Bancshares chair will serve as Chairman Emeritus.
“This merger represents a major step forward in our long-term growth strategy and our commitment to the communities we serve throughout Central California,” said Kim a statement.
This Is the seventh acquisition for Community West, the statement said. In 2024, Central Valley Bank expanded to the Central Coast when it merged with Goleta-based Community West Bankshares.
