Central Valley Community Bancorp to Combine with Community West Bancshares in Deal Valued at USD 99.4m.
MANews-(C)2009-2023
California-based Central Valley Community Bancorp (Central Valley), (NASDAQ: CVCY), along with its banking subsidiary, Central Valley Community Bank has entered into an Agreement of Reorganisation and Merger with California-based Community West Bancshares (Community West) (NASDAQ: CWBC), parent company of Community West Bank, the company said.
Based on the closing price of Central Valley Community Bancorp stock on October 10, 2023, the transaction is valued at USD 99.4 m, or USD 11.15 per Community West Bancshares common share.
Under terms of the agreement, Community West Bancshares will merge with and into Central Valley Community Bancorp and Community West Bank will merge with and into Central Valley Community Bank.
Under the terms of the agreement, Community West Bancshares...
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