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: January 6, 1999
--------------------------------------
Community West Bancshares
-----------------------------------------------------------------
(Exact name of Registrant as specified in its charter)
California
-----------------------------------------------------------------
(State or other jurisdiction of incorporation)
0-23575 77-0446957
-----------------------------------------------------------------
(Commission File Number) (IRS Employer I.D. Number)
5638 Hollister Avenue, Goleta, California 93117
-----------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
(805) 692-1862
----------------------------------------------------------------
(Registrant's telephone number, including area code)
<PAGE>
ITEM 5. OTHER EVENTS.
On December 22, 1998, Goleta National Bank, Goleta, California (the
"Bank"), a national banking association and a wholly owned subsidiary of
Community West Bancshares, Goleta, California (the "Registrant"), a California
corporation, completed an $81 million securitization of high loan-to-value
loans. The Bank intends to continue accumulating loans for the purposes of
future securitizations in the ordinary course of its business.
<PAGE>
SIGNATURES
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: January 6, 1999
COMMUNITY WEST BANCSHARES
By: /s/ C. Randy Shaffer
----------------------
C. Randy Shaffer
Executive Vice President
and Chief Financial Officer
