Community West Bancshares in Goleta, Calif., said Friday that it may revise its first-quarter results to reflect an expected $670,000 increase in its allowance for loan losses.
The $665.5 million-asset company said in a regulatory filing that the decision came after a May 19 review of its bank's loan portfolio.
Community West said in the filing that the increase is likely to reduce its stockholders' equity by $395,000.
The company had originally reported net income of $595,000, including a $983,000 loan-loss provision.
