Community West Bancshares (CWBC) entered a merger agreement on December 17, 2025, to acquire United Security Bancshares (UBFO) in an all-stock deal valued at $191.9 million.
United Security Bancshares shareholders will be entitled to receive 0.4520 shares of Community West Bancshares common stock for each share of United common stock.
The transaction is valued at $10.88 per United Security Bancshares common share, representing a premium of 4.62% from the stock’s last close.
United Security is a California-based bank holding company that operates United Security Bank, providing commercial and personal banking, lending, and financial services. It has about $1.2 billion in total assets and around $1.06 billion in total deposits.
Community West is a California-based bank holding company that operates Community West Bank, offering commercial and personal banking, lending, and financial services. It has approximately $3.5 billion in total assets and around $2.9 billion in total deposits.
The deal is expected to close in the second quarter of 2026.
The Community West Bancshares board and management team, led by CEO James Kim, will continue to lead the combined organization.
The combined company’s board will include current directors from Community West, along with two directors from United. United Security CEO Dennis Woods will serve as Chairman Emeritus of the combined company.
The combined company is expected to have about $5 billion in total assets. Community West shareholders will own roughly 70.6% of the combined company, while United Security Bancshares shareholders will own about 29.4%.
Piper Sandler served as financial advisor to United Security, while Janney Montgomery Scott advised Community West. Legal counsel was provided by Stuart Moore Staub for United Security and Otteson Shapiro for Community West.
Community West is purchasing United Security at 1.35 times the tangible book value.
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Editor’s Note: Baranjot Kaur contributed to this article