11:11 AM EDT, 04/01/2024 (MT Newswires) -- Central Valley Community Bancorp ( CWBC ) said Monday it completed its all-stock merger with Community West Bancshares (CWBC) and assumed its name and Nasdaq ticker symbol.

Under the terms of the transaction, shareholders received 0.79 of a Central Valley share for each of their Community West shares. The deal consideration was around $143 million, based on Friday's closing price for Central Valley shares at $19.89 each, Central Valley said.

Central Valley said it assumed the Community West Bancshares name and the ticker symbol CWBC. The combined company has 15 directors, with nine from Central Valley, including James Kim, who continues in his current role as chief executive, and six from Community West, Central Valley said.