Business

Community West Bank seeks to open first branch in SLO County

Community West Bank is planning to open a full-service branch office in San Luis Obispo — its first in the county.

The bank filed an application with the Comptroller of the Currency and is expecting approval by April, said Kevin Moon, senior vice president and director of marketing and product development.

The bank would occupy a new 5,000-square-foot building at 4464 Broad St. in San Luis Obispo, near the airport. The branch is expected to open in the third or fourth quarter this year, Moon said, and could employ as many as 20 people.

The full-service branch would replace its San Luis Obispo loan production office, which opened at 1977 Santa Barbara Ave. in September.

Serving San Luis Obispo is an integral part of the bank’s strategy to grow its presence on the Central Coast, according to a news release. Looking ahead, Community West Bank said it will seek opportunities to open other offices in San Luis Obispo County.

Community West Bank, based in Goleta, is owned by Community West Bancshares, a financial services company. It has about $600 million in assets and branches in Goleta, Santa Barbara, Santa Maria, Ventura and Westlake Village.

Danielle Ames: 805-781-7902

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