Irvine, California – June 10, 2024 – CW Bancorp (OTCQX: CWBK), the parent company of CommerceWest Bank, was ranked #5 in the annual published list by American Banker for The Top 100 Publicly Traded Community Banks under $2 billion in assets, surpassing the 2022 ranking of #11.
This year, Capital Performance Group and American Banker trimmed the list from the 200 top performers to 100 banks due to consolidation and the shrinking number of institutions in this asset class, better representing the top quartile of banks with under $2 billion of assets.
The list was led by companies with strong profitability metrics, minimal credit losses and pristine asset quality. Return on average equity averaged 15.83% amongst the top 100 under $2 billion asset public banks. The median return on average equity (ROAE) for the 100 banks in 2023 was just under 15%, according to data compiled by Capital Performance Group. That far exceeded the median for all 361 U.S. banks, which was just under 11%.
Mr. Ivo Tjan, CEO commented, “We are honored to make the list again in 2023 and even more proud to go from #11 in 2022 to #5 in 2023 on the leaderboard. The strength of our business model and fortress balance sheet will allow us to continue to support the entrepreneurs and business community in California as a trusted partner. We have an amazingly talented group of CW Bankers who make it happen every day for our clients.”
About CW Bancorp
CW Bancorp is the parent company of CommerceWest Bank (“Bank”). The Bank is determined to redefine banking for small and medium sized businesses by delivering on customized products and services. Founded in 2001 and headquartered in Irvine, California, the Bank serves businesses throughout the state of California with our digital banking platform. By employing a strategically selected team of experienced professionals, we will provide flexibility, create a complete, safe and sound banking experience for each client. We provide a wide range of commercial banking services, including remote deposit solution, NetBanker online banking, mobile banking, lines of credit, M&A / working capital loans, commercial real estate loans, SBA loans and treasury management services.
Mission Statement: CommerceWest Bank will create a complete banking experience for each client, catering to businesses and their specific banking needs, while accommodating our clients and providing them high-quality, low stress and personally tailored banking and financial services.
Please visit www.cwbk.com to learn more about the bank. “BANK ON THE DIFFERENCE”