Reported Late Tuesday, Central Valley Community Bancorp And Community West Bancshares To Merger In $99.4M All-Stock Merger Deal

Author: Benzinga Newsdesk | October 11, 2023 02:47am

Under the terms of the agreement, Community West Bancshares shareholders will be entitled to receive 0.79 shares of Central Valley Community Bancorp common stock for each share of Community West Bancshares common stock. The exchange ratio is fixed, and the value of the merger consideration will fluctuate based on Central Valley Community Bancorp's stock price. Central Valley Community Bancorp will assume the outstanding stock options of Community West Bancshares as part of the transaction. Based on the closing price of Central Valley Community Bancorp stock on October 10, 2023, the transaction is valued at $99.4 million, or $11.15 per Community West Bancshares common share.

Posted In: CVCY CWBC