Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(c) Appointment of New Principal Officer

Community West Bancshares (Company) announced the appointment of Richard Pimentel to serve as Executive Vice President and Chief Financial Officer of the Company and its wholly-owned subsidiary, Community West Bank N.A. commencing on January 3, 2022. A copy of the press release announcing Mr. Pimentel's appointment is filed herewith as Exhibit 99.1.

Prior to joining the Company, Mr. Pimentel, served as Chief Financial Officer of CalPrivate Bank, La Jolla, CA from May 2019 to August 2021. Mr. Pimentel served as Senior Vice President, Corporate Finance Officer for Hanmi Bank, Los Angeles, CA from July 2016 to May 2019, Executive Vice President, Chief Financial Officer for Pan American Bank, Los Angeles, CA from June 2015 to July 2016, Executive Vice President, Chief Financial Officer for Bank of Manhattan, El Segundo, CA from 2013 to May 2015 and Senior Vice President, Finance and Treasury from May 2012 to 2013.

There have been no transactions, involving any relationship between the Company and Mr. Pimentel involving an amount that will exceed $120,000 (a "related party transaction") other than regarding his compensation arrangements discussed below.

There are no family relationships between Mr. Pimentel and any of the directors and executive officers of the Company.

(e) Compensatory Arrangements of Principal Officer

In connection with his employment described more fully herein, the Company intends to finalize the terms of his employment in a written employment agreement. The employment agreement will be filed during the quarter in which the employment agreement is executed.

Mr. Pimentel will be paid an annual base salary of $250,000. In addition, the Company will establish a deferred compensation account for Mr. Pimentel and will credit such account an amount equal to 1% of his base salary in effect at the end of each month of his 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 three-year certificate of deposit. The Company will also provide Mr. Pimentel with a monthly stipend for commuting and temporary housing in the amount of $2,083.34 for twelve months.

Upon approval of the Board of Directors, it is anticipated that the Board will grant Mr. Pimentel an incentive stock option or restricted stock under the Company's 2020 Omnibus Equity Incentive Plan that will become exercisable over a five-year period.

Item 9.01. Financial Statements and Exhibits.



(a) Financial statements. - not applicable
(b) Pro forma financial statements. - not applicable
(c) Shell Company Transactions. - not applicable
(d) Exhibits

The following exhibit is being furnished herewith:

99.1 Press Release dated December 31, 2021, titled "Richard Pimentel Joins Community West Bancshares and Community West Bank as Chief Financial Officer."

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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