Community West Bancshares: Q2 Earnings Snapshot
By AP News
Published - Jul 23, 2024, 04:51 PM ET
Last Updated - Jul 23, 2024, 04:51 PM EDT
FRESNO, Calif. (AP) — FRESNO, Calif. (AP) — Community West Bancshares (CWBC) on Tuesday reported a loss of $6.3 million in its second quarter.
The Fresno, California-based company said it had a loss of 33 cents per share. Earnings, adjusted for non-recurring costs, were 41 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The holding company for Central Valley Community Bank posted revenue of $45.4 million in the period. Its adjusted revenue was $30.5 million, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $37.1 million.
