News & Press Releases

Irvine, California – September 21, 2018 – CommerceWest Bank partnered with WHW to help local job seekers by donating handbags to help candidates feel more confident during the interview process. WHW provides professional apparel services for men and women. In addition, WHW offers comprehensive Employment Readiness Workshops, Job Placement Assistance, Employment Retention Support and Computer Training, all at no charge. Last year, nearly 80% of the over 10,000 job seekers WHW served gained employment within 3 months resulting in an average household income increase of 560%. A good job changes everything!

Irvine, California – September 11, 2018 – CommerceWest Bank earned a 5-Star “Superior” Rating from Bauer Financial. Only the strongest financial institutions receive a 5-Star rating and are recommended by Bauer Financial. Bauer Financial is independent and has been analyzing and reporting on the banking industry since 1983.

Irvine, California – September 5, 2018 – CommerceWest Bank announced the approval of a quarterly cash dividend by its Board of Directors. The Board of Directors declared a cash dividend of $0.17 per common share, payable October 12, 2018 to shareholders of record at September 14, 2018.

Irvine, California – July 16, 2018 – CommerceWest Bank joined Tim Salmon to help prevent and break the cycle of child abuse by supporting the Orange County Child Abuse Prevention Center. The Child Abuse Prevention Center directly serves at-risk children and families in crisis to prevent and break the generational cycle of child abuse.

Irvine, California – April 25, 2018 – The Bank reported net income for the three months ended March 31, 2018 of $1,637,000 or $0.40 per common share, compared with net income of $1,509,000 or $0.37 per common share for the three months ended March 31, 2017, an EPS increase of 8%.

Irvine, California – March 7, 2018 – CommerceWest Bank announced the approval of a quarterly cash dividend by its Board of Directors. The Board of Directors declared a cash dividend of $0.17 per common share, payable April 13, 2018 to shareholders of record at March 16, 2018.

Irvine, California – February 22, 2018 – CommerceWest Bank supported the Blind Children’s Learning Center and stepped into the world of children who are blind or visually impaired to understand the challenges that they face. The Vision Beyond Sight event raised funds to help provide early intervention, education and family support to children with visual impairments.

Irvine, California – February 08, 2018 – CommerceWest Bank was invited to join the Community for Innovation, Entrepreneurship, Leadership and Opportunities (CIELO), to empower individuals with an entrepreneurial spirit and passion for small business. Ivo Tjan, Chairman and CEO of CommerceWest Bank was the Keynote Speaker and discussed the macroeconomic forces affecting businesses, which included a discussion about the Tax Cut and Jobs Law Act.

Irvine, California – January 29, 2018 – The Bank took a charge to tax expense of $528,000 in the fourth quarter of 2017 for the impact of the change in tax rates resulting from the enactment of the Tax Cuts and Jobs Act (“TCJA”) on December 22, 2017. Net income for the three months ended December 31, 2017 excluding this charge was $1,601,000 or $0.40 per common share, compared with net income of $1,319,000 or $0.32 per common share for the three months ended December 31, 2016, an EPS increase of 25%. Net income for the twelve months ended December 31, 2017 excluding this charge was $5,533,000 or $1.36 per common share, compared with net income of $4,830,000 or $1.16 per common share for the twelve months ended December 31, 2016, an EPS increase of 17%.

Irvine, California – December 7, 2017 – CommerceWest Bank announced the approval of a quarterly cash dividend by its Board of Directors. The Board of Directors declared a cash dividend of $0.17 per common share, payable January 12, 2018 to shareholders of record at December 15, 2017.