James W. Lokey, a director at Community West Bancshares, reported acquiring 500 shares of the bank's common stock on January 28, 2026, per a Form 4 filing submitted to the Securities and Exchange Commission. The shares were purchased at $23.2898 each, bringing the total value of the trade to approximately $11,644. After the purchase, Lokey's direct ownership in Community West Bancshares stands at 15,174.672 shares.
The insider purchase coincides with a series of corporate disclosures from Community West that outline both recent financial performance and strategic moves. The company said it delivered a 62% increase in fourth-quarter net income, reporting $11.17 million compared with $6.9 million in the same quarter a year earlier. Alongside the earnings print, the bank's board approved a quarterly cash dividend of $0.12 per common share, scheduled for payment on February 20, 2026.
Community West also announced a definitive agreement to acquire United Security Bancshares in an all-stock transaction valued at about $191.9 million. Under the terms of the deal, holders of United Security shares will receive 0.4520 shares of Community West common stock for each share they own. As part of the transaction's governance changes, two directors from United Security - Jagroop Jay Gill and Dora Westerlund - will join Community West's board, with Gill expected to take the role of Vice Chairman.
Following the merger announcement, investment bank DA Davidson adjusted its outlook on Community West by raising its price target to $26.00 while maintaining a Buy rating. Separately, the company noted a leadership transition: founding board member Daniel N. Cunningham will retire after 46 years and assume the title of Director Emeritus.
The Form 4 filing documenting Lokey's purchase, the company's quarterly results, the dividend declaration and the merger agreement together paint a detailed picture of recent insider, operational and strategic developments at Community West Bancshares. Each disclosure is presented in the company's filings and announcements as reported.
Contextual note - All figures, dates and corporate actions in this report are drawn from the company's public filings and announcements. No additional interpretation beyond those disclosures is offered here.