On March 16, 2026, Community West Bancshares (NASDAQ: CWBC) announced that it has received the necessary regulatory approvals for its merger with United Security Bancshares (NASDAQ: UBFO). The approvals were granted by the Federal Deposit Insurance Corporation and the California Department of Financial Protection and Innovation, along with a waiver from the Federal Reserve Bank of San Francisco. This merger will see United Security Bancshares merge into Community West Bancshares, with Community West Bank absorbing United Security Bank. The completion of the merger is anticipated in the second quarter of 2026, pending shareholder approval at special meetings scheduled for March 30, 2026, and the fulfillment of customary closing conditions. The merger is expected to create a combined entity with approximately $5 billion in total assets, enhancing the capacity to serve Central California communities. James J. Kim, CEO of Community West Bancshares, expressed optimism about the merger, stating that it strengthens their regional community bank and enhances their ability to deliver long-term value to clients and shareholders. Dennis R. Woods, Chairman and CEO of United Security Bancshares, echoed this sentiment, highlighting the shared values and commitment to community banking that both organizations have upheld for decades. The merger is seen as a strategic move to bolster operational capabilities and expand market presence in the region. The press release detailing these developments is available as Exhibit 99.1 in the filing.

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