Community West Bancshares Consolidates Multiple Activities Into New Corporate Headquarters.Business Editors GOLETA, Calif.--(BUSINESS WIRE)--May 9, 2000 Community West Bancshares (Nasdaq:CWBC CWBC Constant-Weight Binary Code ) today announced its move into new and larger corporate headquarters that will also consolidate many of the operations at its subsidiary, Goleta National Bank. This move was implemented as part of a continuing campaign to promote better communication and to further enhance profitability within the Bank. Nine different activities, formerly located at four separate sites, have been consolidated into one 21,000 square foot site located just two blocks from Goleta National Bank's headquarters offices in Goleta. Operations involved in the relocation include: Administration, Finance, Data Processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a , Small Business Administration loans, Central Operations, Human Resources, Note Servicing Department, Alternative Mortgage Division, and the Compliance Department. In addition, all Community West functions have been relocated to the new headquarters. The move included a total of 113 people. Lew Stone, Community West Bancshares CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , commented on the consolidation, "We look for significant savings and efficiencies as a result of this action. Overhead costs overhead costs see fixed costs. associated with maintaining four separate sites will be reduced, overlapping functions and redundancies will be eliminated and communication between operating departments should be substantially enhanced." Company Overview Community West Bancshares is a financial services company with headquarters in Goleta. The company currently has two subsidiaries. Palomar Community Bank has a full-service branch located in Escondido, Calif. Goleta National Bank has two full service branches, one in Goleta and one in Ventura, Calif. It is one of the nation's largest SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government lenders with loan production offices located in Alabama, California, Florida, Georgia, South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. , North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , Tennessee, Oregon, Washington and Nevada. The principal going-forward business areas and profit generators of the company are core banking with net interest margins, Mortgage lending with fee income and Small Business Administration (SBA) lending with fee income. |
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