Community West Bancshares
For the period ended Apr 21, 2025. Filed Apr 21, 2025.
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Apr 21, 2025 · Filed Apr 21, 2025
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Contents
EX-99.1 · FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Net income during the first quarter increased to $8.3 million, or $0.44 per diluted common share, compared to net income of $6.9 million and $0.36, respectively, in the fourth quarter of 2024.
Gross loans increased by $12.7 million during the first quarter, or 2.17% on an annualized basis.
Total cost of deposits decreased to 1.45% for the quarter ended March 31, 2025 compared to 1.49% for the quarter ended December 31, 2024.
Average non-interest bearing demand deposit accounts as a percentage of total average deposits totaled 34.30% and 36.02% for the quarters ended March 31, 2025 and December 31, 2024, respectively.
Net interest margin increased to 4.04% for the quarter ended March 31, 2025, from 3.95% for the quarter ended December 31, 2024.
Capital positions remain strong at March 31, 2025 with a 9.36% Tier 1 Leverage Ratio; a 11.39% Common Equity Tier 1 Ratio; a 11.57% Tier 1 Risk-Based Capital Ratio; and a 13.82% Total Risk-Based Capital Ratio.
The Company declared a $0.12 per common share cash dividend, payable on May 16, 2025 to shareholders of record as of May 2, 2025.
“Our team’s commitment to empowering communities across Central California through trusted client advocacy is especially valued in uncertain economic environments,” said James J. Kim, President and CEO of the Bank and CEO of the Company. “Backed by more than four decades of conservative business practices, deposit stability and enduring client relationships, the Company remains a safe and stable financial partner. Even amid capital market volatility driven by shifting tariff policies, our team’s unwavering focus on client success continues to define and differentiate us.”
“We recently celebrated two major milestones: 45 years of building strong relationships and the one-year anniversary of the largest merger in the Company’s history. It is a privilege to continue embracing our founding values and working alongside such dedicated and inspiring professionals.”
“The Company’s first-quarter results reflect sequential improvement in both earnings and net interest margin,” added Shannon Livingston, Executive Vice President and Chief Financial Officer. “With another quarter of solid financial performance, the Company is well-positioned to continue building on this momentum.”
Community West Bancshares -- page 2
Results of Operations
| Three months ended | |||
|---|---|---|---|
| March 31, | December 31, | March 31, | |
| (In thousands, except share and per-share amounts) | 2025 | 2024 | 2024 |
| Net interest income before (credit) provision for credit losses | $32,182 | $32,024 | $19,073 |
| (Credit) provision for credit losses | (41) | 1,224 | 575 |
| Net interest income after (credit) provision for credit losses | 32,223 | 30,800 | 18,498 |
| Total non-interest income | 2,611 | 2,303 | 1,636 |
| Total non-interest expenses | 23,470 | 23,188 | 15,333 |
| Income before provision for income taxes | 11,364 | 9,915 | 4,801 |
| Provision for income taxes | 3,071 | 3,020 | 1,125 |
| Net income | $8,293 | $6,895 | $3,676 |
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