News & Press Releases

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.

Irvine, California – October 28, 2017 – CommerceWest Bank helped fight the war against ALS (Amyotrophic Lateral Sclerosis) by supporting Augie’s Quest. Augie’s Quest to Cure ALS drives success by funding cutting edge ALS research at the ALS Therapy Development Institute (ALS TDI).

Irvine, California – October 15, 2017 – CommerceWest Bank helped empower children to have a drug free future by supporting BISKIDS. BISKIDS educates children about addiction and the important life skills they need to overcome adversity and promote a drug free lifestyle.

Irvine, California – September 24, 2017 – CommerceWest Bank supported Kure It Cancer Research on their second annual Sunday Funday. The fundraiser brought together the corporate community and families of Orange County to fight together against cancer. Kure It Cancer Research is a non-profit dedicated to providing direct and immediate funding to support cancer research.

September 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 October 13, 2017 to shareholders of record at September 15, 2017.

Irvine, California – July 27, 2017 – CommerceWest Bank reported net income for the three months ended June 30, 2017 of $1,078,000 or $0.26 per common share, compared with net income of $1,256,000 or $0.30 per common share for the three months ended June 30, 2016, an EPS decrease of 13%. Net income for the six months ended June 30, 2017 was $2,587,000 or $0.63 per common share, compared with net income of $2,309,000 or $0.55 per common share for the six months ended June 30, 2016, an EPS increase of 15%.

Irvine, California – June 12, 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 July 14, 2017 to shareholders of record at June 16, 2017.

Irvine, California – May 09, 2017 – CommerceWest Bank joined the fight against ALS by supporting the ALS Association Orange County. The ALS Association is dedicated soley to the fight against ALS. Their mission is to discover treatments and a cure for ALS, and to serve, advocate for, and empower people affected by ALS to live their lives to the fullest.