Community West Bank is headquartered in Goleta and is the 75th largest bank in the state of California. It is also the 947th largest bank in the nation. It was established in 1989 and as of December of 2020, it had grown to 126 employees at 9 locations. Community West Bank has an A health rating.
CWB - Great Personal Service
Just as its name says, it's a community bank with great individual personal service. Everyone I've encountered on the phone or in person is personable and service-oriented. Although I like the expediency of internet banking, I also like having at least one in-person bank that knows who I am. I can appreciate why they require a branch visit to open an account.
Webite is prone to bounce you out a lot, so you have to keep re-logging until you get a feel for where the glitches are. Double clicking seems to be a culprit on some links.
Service deserves 5+ stars, but I reluctantly docked one star for the bouncy online account. Hopefully, corporate will get that fixed soon. In the meantime, their branch's personal service tries to help offset that.
FYI -
--Multiple reward accounts are allowed per individual. (Easily added, since up to 3 of any account types per signature card. More than that probably just requires additional signature cards.)
--ChexSystems check only (no credit bureau hits).
Interest Rate Is Steady - But Website Is A NIGHTMARE!
This bank does have a better than average money market/savings rate in this economy where its hard to find a good deal. But considering when I log on to their site to check my account once every 30 days, there is always a website problem. When I phone for support the next day, the cs rep doesnt know how to trouble shoot.
Website & tech support are a joke. But its ok to bank there.
Don't Ever Use This Bank.
Their lending practices are predatory and overburdonsome. Their client relations for business owners is confrontational and lacks understanding. The special assets group will send a letter immediately demanding payment of a busines loan even if your are a day late. They are unwilling to assist small business owners who are struggling to survive.
Data as of Q4 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 27572 |
| Year Established | 1989 |
| Employees | 126 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.9% |
| Return on Equity - YTD | 10.45% |
| Annual Interest Income | $43.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $975.3MM$913.7MM |
| Loans | Q4 2020vs Q4 2019 | $847.4MM$766.8MM |
| Deposits | Q4 2020vs Q4 2019 | $766.3MM$751.9MM |
| Equity Capital | Q4 2020vs Q4 2019 | $88.9MM$81.2MM |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $10.2MM$8.7MM |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $3.6MM$2.3MM |
| Real Estate Owned | Q4 2020vs Q4 2019 | $2.4MM$2.5MM |