SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
DATE OF REPORT: November 3, 1998
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Community West Bancshares
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(Exact name of Registrant as specified in its charter)
California
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(State or other jurisdiction of incorporation)
0-23575 77-0446957
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(Commission File Number) (IRS Employer I.D. Number)
5638 Hollister Avenue, Goleta, California 93117
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(Address of principal executive offices) (Zip Code)
(805) 692-1862
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(Registrant's telephone number, including area code)
ITEM 5. Other Events
On April 23, 1998, Community West Bancshares ("Community West") entered
into an Agreement and Plan of Reorganization (the "Agreement") with Palomar
Savings and Loan Association ("Palomar"), pursuant to which CWB Merger Corp, a
wholly-owned subsidiary of Community West, will merge with and into Palomar
whereby the separate corporate existence of CWB Merger Corp will cease and
Palomar will become a wholly-owned subsidiary of Community West.
At the Special Shareholders' Meeting of Community West held on October 29,
1998, of the 4,098,062 shares outstanding and entitled to vote at the meeting,
3,057,197 shares (constituting approximately 74.6% of the outstanding shares)
voted in favor of, 13,740 shares voted against, and 7,054 shares abstained from
voting on, the Agreement and proposed merger.
At the Special Shareholders' Meeting of Palomar held on October 27, 1998,
of the 648,186 shares outstanding and entitled to vote at the meeting, 443,698
shares (constituting approximately 68.5% of the outstanding shares) voted in
favor of, 1,337 shares voted against, and 19,154 shares abstained from voting
on, the Agreement and proposed merger.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunder duly authorized.
Dated: November 3, 1998
COMMUNITY WEST BANCSHARES
By: /s/ C. Randy Shaffer
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C. Randy Shaffer
Executive Vice President and
Chief Financial Officer
