Dogged by troubles in its loan securitization portfolio, Community West Bancshares in Goleta, Calif., is expected to report a full-year loss of about $3.8 million, or 65 cents per share, sources close to the company said. The market - spooked ever since Community West disclosed its regulatory troubles last month - has already punished the company's stock, which is down nearly 30% in the last 10 days. It set a 52-week low of $7.125 a share last Tuesday, and the shares were below that, at $6.25, in midday trading Thursday.
Community West chairman John Markel acknowledged that the $246 million-asset company would report a net loss for 1999 but declined to specify it. He said a formal announcement would be made today.