UNITED SECURITY BANCSHARES 8-K

What Happened

• On April 1, 2026, United Security Bancshares (USB) completed its previously announced merger with Community West Bancshares. At the effective time USB merged into Community West (the surviving company), and USB’s banking subsidiary, United Security Bank, merged into Community West Bank (the surviving bank).
• Each outstanding share of USB common stock was converted into the right to receive 0.4520 shares of Community West Bancshares common stock; cash will be paid in lieu of any fractional shares. Community West’s existing common stockholders were unaffected.

Key Details

• Effective date: April 1, 2026 (merger closed).
• Conversion ratio: 0.4520 Community West shares per USB share; fractional shares paid in cash.
• Market/listing actions: USB requested a halt to trading March 31, 2026, sought removal from NASDAQ listing, and the successor intends to file a Form 15 to deregister USB common stock and suspend USB’s reporting obligations.
• Governance: Two former USB board members (Jagroop “Jay” Gill and Dora Westerlund) joined the boards of Community West Bancshares and Community West Bank; USB’s directors and executive officers ceased serving as of the merger.

Why It Matters

• For USB shareholders: your USB shares were converted into Community West shares at the stated ratio (with cash for fractions). Expect changes to how your holdings trade and are reported because USB’s listing is being removed and USB will be deregistered.
• For Community West shareholders and investors: the transaction expands Community West’s franchise and adds two new board members; Community West common shares remain outstanding and were unaffected by the conversion mechanics.
• Regulatory/filing notes: The Merger Agreement was previously filed (Dec. 17, 2025) and a press release was furnished with this 8-K.