Community West Bancshares 10-Q

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS A summary of the repurchase activity of the Company’s common stock for the nine months ended September 30, 2020 follows. Period Total number of shares purchased Average price paid per share Total number of shares purchased as part of publicly announced plans (1) (2) (3) Approximate dollar value of shares that may yet be purchased under current plans (in thousands) 01/1/2020 - 01/31/2020 167,223 $ 20.05 167,223 $ 7,694 02/1/2020 - 02/28/2020 211,233 $ 19.31 211,233 $ 3,610 03/1/2020 - 03/31/2020 242,923 $ 14.83 242,923 $ — Total 621,379 $ 17.76 621,379 (1) The Company approved a stock repurchase program effective July 17, 2019 with the intent to purchase up to $10,000,000 of the Company’s outstanding common stock, or approximately 479,616 shares. During the nine months ended September 30, 2020, the Company repurchased and retired a total of 49,269 shares at an approximate cost of $1,052,000, completing the stock repurchase plan. During the year ended December 31, 2019, the Company repurchased and retired a total of 431,444 shares at an approximate cost of $8,948,000. (2) The Company approved a stock repurchase program effective January 15, 2020 with the intent to purchase an additional $10,000,000 of the Company’s outstanding common stock, or approximately 487,805 shares. During the nine months ended September 30, 2020, the Company repurchased and retired a total of 572,110 shares at an approximate cost of $17.45 per share, completing the stock repurchase plan. (3) All share repurchases were effected in accordance with the safe harbor provisions of Rule 10b-18 of the Securities Exchange Act. ITEM 3. DEFAULTS UPON SENIOR SECURITIES None to report. ITEM 4. MINE SAFETY DISCLOSURES None to report.