On March 28, 2017, the Board of Directors of Community West Bancshares (the “Company”) accepted the appointment of Susan C. Thompson to serve as Executive Vice President and Chief Financial Officer of the Company and the Company’s wholly-owned subsidiary, Community West Bank, N.A. commencing on April 1, 2017. 

Ms. Thompson, age 54 has served ten of the last sixteen years at Community West, and was Senior Vice President and Controller / Principal Accounting Officer of Western Alliance Bancorporation from November 2009 to June 2013 and Senior Vice President and Controller at Pacific Capital Bancorporation from June 2007 to October 2009.  Prior to that, Ms. Thompson served as Chief Financial Officer of Alliance Manufacturing Software International and was a senior auditor with Deloitte and Touche, LLP in their financial services practice.  

There have been no transactions since January 1, 2016, involving any relationship between the Company and Ms. Thompson involving an amount that will exceed $120,000 (a “related party transaction”) other than regarding her compensation arrangements discussed below.

There are no family relationships between Ms. Thompson and any directors and executive officers of the Company.

(e)  Compensatory Arrangement of Principal Officer

Ms. Thompson will be paid an annual base salary of $205,000.  In addition, the Company will establish a deferred compensation account for Ms. Thompson and will deposit into such account an amount equal to 1% of her base pay in effect at the end of each month of her employment, with interest on the balance of the deferral account at a rate equal to the then-current rate offered by the Company on a six-month certificate of deposit. 

Upon approval of the Board of Directors, it is anticipated that the Board will grant Ms. Thompson an incentive stock option under the Company’s 2014 Stock Option Plan representing 20,000 shares of the Company’s common stock that will become exercisable over a five-year period.