UNITED STATES
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 (Date of earliest event reported): July 2, 2002
COMMUNITY WEST BANCSHARES
(Exact name of registrant as specified in its charter)
CALIFORNIA 000-23575 77-0446957
(State or Other Jurisdiction (File Number) (I.R.S. Employer
of Incorporation or Organization) Identification No.)
445 Pine Avenue, Goleta, California 93117
(Address of principal executive offices) (Zip Code)
(805) 692-1862
(Registrant's telephone number, including area code)
ITEM 4. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT
On June 27, 2002, the Board of Directors of Community West Bancshares (the
"Company"), dismissed the Company's current independent auditors, Arthur
Andersen LLP, and upon recommendation by its Audit Committee, approved the
engagement of Ernst & Young LLP as the Company's independent auditors for the
year ending December 31, 2002.
The reports of Arthur Andersen LLP on the Company's financial statements as
of and for the years ending December 31, 2001 and 2000, did not contain an
adverse opinion or a disclaimer of opinion and were not qualified or modified as
to uncertainty, audit scope, or accounting principles.
During the Company's two most recent fiscal years ended December 31, 2001
and 2000, and the subsequent interim period from January 1, 2002 through June
27, 2002, there were no disagreements with Arthur Andersen LLP on any matters of
accounting principles or practices, financial statement disclosure, or auditing
scope and procedures which, if not resolved to the satisfaction of Arthur
Andersen LLP would have caused Arthur Andersen LLP to make reference to the
matter in their report. There were no "reportable events" as that term is
defined in Item 304(a)(1)(v) of Regulation S-K.
Prior to the dismissal of Arthur Andersen LLP, the Company did not consult
with Ernst & Young LLP regarding: (i) the application of accounting principles
to a specified transaction, either completed or proposed; (ii) the type of audit
opinion that might be rendered on the Company's financial statements; or (iii) a
reportable event (as defined in paragraph 304(a)(1)(v) of Regulation S-K).
The Company has requested Arthur Andersen LLP to furnish it with a letter
addressed to the Securities and Exchange Commission stating whether it agrees
with the above statements. A copy of that letter, dated July 2, 2002, is filed
as Exhibit 16 to this Form 8-K.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits:
16 Letter of Arthur Andersen LLP dated July 2, 2002.
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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 thereunto duly authorized.
Date: July 2, 2002 COMMUNITY WEST BANCSHARES
By: /s/ Stephen W. Haley
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Stephen W. Haley
President and
Chief Operating Officer
On Behalf of the Registrant and as
Principal Financial Officer
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