Community West Bancshares, parent company of Community West Bank, and United Security Bancshares, parent company of United Security Bank, signed a definitive merger agreement pursuant to which the companies will combine in an all-stock merger transaction. Following the merger of United Security Bancshares with and into Community West Bancshares, United Security Bank will merge with and into Community West Bank.
United Security Bank’s full-service branches in Fresno, Madera, Kern, San Joaquin and Santa Clara Counties will join Community West Bank’s full-service banking centers in 12 Central California counties. The Community West Bancshares and United Security Bancshares boards of directors have unanimously approved the transaction, which is expected to close in Q2/26, subject to customary closing conditions, including regulatory approvals and shareholder approval from both parties.
Under the terms of the definitive merger agreement, United Security Bancshares shareholders will be entitled to receive 0.4520 shares of Community West Bancshares common stock for each share of United Security Bancshares common stock. Based upon Community West Bancshares’ closing share price of $24.06 on Dec. 16, 2025, the transaction is valued at approximately $191.9 million, or $10.88 per United Security Bancshares common share.
The Community West Bancshares board of directors and Community West Bank executive management team, led by James J. Kim, CEO of Community West Bancshares, and CEO and president of Community West Bank, will continue to lead the combined team of executives and professional bankers. The combined company’s board of directors will consist of current directors from Community West Bancshares and two current directors from United Security Bancshares including Jagroop “Jay” Gill and one additional individual to be added upon completion of the merger. Dennis R. Woods, chairman of the board, president and CEO for United Security Bancshares and United Security Bank will serve as chairman emeritus for the combined company, with an ongoing focus on key client retention.
“This merger represents a major step forward in our long-term growth strategy and our commitment to the communities we serve throughout Central California,” Kim said. “Both institutions share a strong, long-term foundation of relationship banking, local decision-making and responsible growth. By bringing our organizations together, we are creating a more robust and more visible banking franchise, with greater depth of expertise, expanded resources and enhanced capacity to support businesses, families and communities. At the same time, we expect the combination to further deliver lasting value to our shareholders.”
Woods said, “Joining with Community West Bank is a natural partnership for our bank, our clients and our employees. With shared values and cultures centered on integrity, personal service and community commitment, this combination strengthens our ability to serve with greater scale, expanded lending capacity and broader market reach. Together, we are creating new opportunities for our clients, enhanced career paths for our employees and a stronger banking franchise across Central California.”
The United Security Bancshares merger will become the seventh acquisition for Community West Bancshares, which most recently acquired Community West Bancshares and Community West Bank (and adopted their names) on April 1, 2024.
Upon closing, the combined company would have approximately $5 billion in total assets. Existing Community West Bancshares shareholders would own approximately 70.6% of the outstanding shares of the combined company following the merger and United Security Bancshares shareholders would own approximately 29.4%.
Janney Montgomery Scott acted as financial advisor to Community West Bancshares and delivered a fairness opinion to its board of directors. Otteson Shapiro acted as legal counsel to Community West Bancshares. Piper Sandler acted as financial advisor to United Security Bancshares and delivered a fairness opinion to its board of directors. Stuart Moore Staub served as legal counsel to United Security Bancshares.
