Commercewest Bank Announces Completion of Holding Company Reorganization
January 12, 2021 at 04:31 pm EST
CW Bancorp announced the completion of its previously announced holding company reorganization. Following shareholder approval and receipt of all requisite regulatory approvals, the holding company reorganization has been finalized and CommerceWest Bank is now a wholly-owned subsidiary of Bancorp. As a result, existing shares of the Bank were automatically converted on a one-for-one basis into shares of Bancorp and the previous shareholders of the Bank now own all of the outstanding shares of Bancorp.