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TMCNet:  COMMUNITY WEST BANCSHARES / FILES (8-K) Disclosing Change in Directors or Principal Officers

[June 12, 2014]

COMMUNITY WEST BANCSHARES / FILES (8-K) Disclosing Change in Directors or Principal Officers

(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 10, 2014, Steven A. Rosso's employment as Executive Vice President and Chief Credit Officer of Community West Bank (Bank), the subsidiary of Community West Bancshares (Company), was terminated under mutual agreement between Mr.


Rosso and the Bank, effective June 10, 2014.

The Company has appointed Steven M. Caroulis as the interim Chief Credit Officer effective June 10, 2014 and will discharge the position duties until a permanent replacement is named. Mr. Caroulis has been employed by the Company for the past two years as its Senior Vice President and Credit Administrator. Mr. Caroulis has over 20 years of bank credit and regulatory experience most recently with Pacific Premier Bank where he served as its Vice President and Special Assets Manager from April 2010 to May 2012 and Vice President and Assistant Special Assets Manager at Aurora Bank from March 2007 to March 2010. Mr. Caroulis holds a BA from the University of California, Los Angeles and a MBA from California State University, Los Angeles. There is no family relationship between Mr.

Caroulis and any director or executive officer of the Company. Except for Mr.

Caroulis' compensation arrangement with the Company, since January 1, 2013, there has been no transaction nor is there a proposed transaction in which the Company was or is to be a participant in which Mr. Caroulis had or will have a direct or indirect material interest. Mr. Caroulis will serve in the role as Chief Credit Officer without any material modification in his compensation arrangement with the Company as the Senior Vic President and Credit Administrator.

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