Linda Nahra, the president and chief executive at Community West Bancshares in Goleta, Calif., has notified the company that she is stepping down at the end of the month to pursue another business opportunity.
She will also resign as president and CEO of its bank subsidiary and from the boards of the bank and the holding company, the $666 million-asset company said in a Securities and Exchange Commission filing Friday.
Nahra has been president and CEO of Community West Bank since 2000 and has held the same posts at the holding company since 2004. In the SEC filing, Community West said that Nahra's decision to resign "was not due to any disagreement with the company relating to its operations, policies or practices."
William R. Peeples, would become interim president and CEO of the holding company until a replacement is found and consultant and former banking executive Edward J. Mylett has been named acting president and CEO of the bank.
Peeples will not be compensated and Mylett will be paid a $25,000 engagement fee and $250 an hour, Community West said.
The company also said that it has named Steven A. Rosso, a former president and CEO at Pacific State Bank in Stockton, Calif., as its chief credit officer.
