Goleta, CA, October 14, 2016 – Community West Bancshares, (NASDAQ: CWBC), parent company of Community West Bank, today announced a $500,000 investment in the Santa Barbara County Housing Trust Fund (HTF). The HTF is a non-profit organization whose mission is to expand affordable housing opportunities for low to moderate income residents of Santa Barbara County.
Community West Bank’s $500,000 investment will be pooled with investments from other banks to help fund HTF’s affordable housing programs. “We are proud to support the services of the Housing Trust Fund and the much needed local housing programs they provide,” said Martin E. Plourd, President and Chief Executive Officer. “They are addressing a fundamental need in our communities for more affordable housing opportunities.”
“We welcome Community West Bank’s investment and commitment to our programs,” said Jennifer McGovern, President and Chief Executive Officer of Santa Barbara County Housing Trust Fund. “The funds they provide will further our efforts to provide low-cost homebuyer and housing production loans that help facilitate the expansion of affordable housing opportunities in our diverse Santa Barbara County communities.”
About Community West Bank
Founded in 1989, Community West Bank has grown to over $640 million in assets, with full-service banking branches in Goleta, Santa Barbara, Santa Maria, Ventura and Westlake Village, and a loan production office in San Luis Obispo. New full-service branch offices will open in San Luis Obispo and Oxnard later this year. Community West Bank is a wholly owned subsidiary of Community West Bancshares (NASDAQ: CWBC), a financial services company with headquarters in Goleta, California. For more information, visit www.CommunityWestBank.com.
About Housing Trust Fund of Santa Barbara County
The Housing Trust Fund of Santa Barbara County (HTF) is a non-profit financing initiative whose mission is to expand affordable housing opportunities for low-to-middle income residents and workers of Santa Barbara County, California. HTF helps maintain the socio-economic fabric of Santa Barbara County by addressing the fundamental building block of healthy communities – housing that is affordable to local workers and residents. For more information, visit www.SBhousingtrust.org.
Safe Harbor Disclosure
This release contains forward-looking statements that reflect management’s current views of future events and operations. These forward-looking statements are based on information currently available to the Company as of the date of this release. It is important to note that these forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including, but not limited to, the ability of the Company to implement its strategy and expand its lending operations.