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Community West Bancshares in Goleta, Calif., has filled a board vacancy with James Lokey, a former chief executive of several California community banks.
June 29 -
Community West Bancshares in Goleta, Calif., is continuing to find ways to buy back stock it issued through the Troubled Asset Relief Program.
October 9 -
Roughly 20 banks still have capital from the crisis-era program. Most are way behind on dividend payments and have limited options to raise capital to repay the Treasury Department.
August 20
Community West Bancshares in Goleta, Calif., has received regulatory approval to exit the Troubled Asset Relief Program.
The $587 million-asset holding company will redeem its remaining $5.6 million of preferred shares, according to a Thursday news release. Community West has obtained a $10 million agreement, carrying a rate of one-month Libor plus 3.75%, to provide financing to redeem the shares.
Community West in April 2014 redeemed $7.8 million, or about half, of its outstanding Tarp preferred stock. In October 2014, it redeemed an additional $782,000.
