James W. Lokey
About James W. Lokey
Independent director appointed April 1, 2024 following the merger of Community West Bancshares with Community West Bancshares (formerly Central Valley Community Bancorp); age 77 with over 50 years of bank management experience including CEO and Chairman roles across multiple California banks, past Chairman of the California Bankers Association, and active governance roles in Central Coast institutions . He is deemed independent under Nasdaq standards and serves on the Board’s Executive Committee and Strategic Planning Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Mission Community Bancorp | Chairman & CEO | 2010–2014 | Led institution; executive leadership and risk oversight |
| Rabobank, N.A. | President | 2007–2009 | Bank leadership; operations oversight |
| Mid-State Bank & Trust | President & CEO | 2000–2007 | Executive leadership; growth/operations |
| Downey Savings | President & CEO | 1997–1998 | Executive leadership |
| First Interstate Bank/Wells Fargo Bank | Executive Vice President | 1973–1996 | Senior management; enterprise operations |
| California Bankers Association | Past Chairman | N/A | Industry advocacy; governance experience |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Cal Poly State University (President’s Cabinet) | Member | N/A | Advisory to university leadership |
| Cal Poly Corporation | Director; Chair, Investment Committee | N/A | Investment oversight; fiduciary responsibility |
| French Hospital Medical Center | Director | N/A | Healthcare governance |
| Consultant/Speaker | Director education, ERM, M&A | Since 2014 | Board education; risk and M&A expertise |
Board Governance
| Item | Status | Detail/Notes |
|---|---|---|
| Independence | Independent | Nasdaq standards; Board-determined |
| Board Tenure at CWBC | 1 year | Appointed April 1, 2024; tenure table shows 1 year |
| Committees | Executive Committee (member); Strategic Planning Committee (member) | Executive Committee members: Doyle (Chair), Bartlein, Lokey, Majarian, McDonald; SP Committee met 3 times in 2024 and includes Lokey |
| Committee Chair Roles | None disclosed | Not listed as chair of any standing committee |
| Attendance | ≥75% | Each incumbent director attended at least 75% of Board and committee meetings in 2024; Board held 10 meetings; Exec Committee did not meet in 2024; all 15 directors attended 2024 annual meeting |
| Stock Ownership Policy | In compliance | Directors must own ≥2,000 shares within 2 years; all directors and NEOs compliant as of 12/31/2024 |
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Fees Earned (Cash) | $23,200 | 2024; per Director Compensation Table |
| Committee Chair Fees | $0 | Chairs receive $200 per meeting; Lokey not a chair |
| Standard Director Fee Schedule | $34,800 annual (non-employee directors); $44,400 for Chairman/Vice Chairman | No meeting fees; chairs $200 per meeting |
Performance Compensation
| Grant Date | Instrument | Shares | Grant-Date Fair Value | Vesting |
|---|---|---|---|---|
| May 30, 2024 | Restricted Stock | 1,820 | $30,000 | One-year vest from grant date; subject to forfeiture until vesting |
The 2025 Omnibus Incentive Plan was approved at the May 21, 2025 annual meeting (12,600,858 For; 642,773 Against; 46,603 Abstain; 1,754,805 broker non-votes), enabling continued equity awards to directors and employees under a 500,000 share reserve .
Other Directorships & Interlocks
- No current public company directorships disclosed; external governance roles include Cal Poly Corporation and French Hospital Medical Center .
- No related interlocks with competitors/suppliers/customers disclosed in proxy .
Expertise & Qualifications
- Public company board experience; financial; risk management; accounting; corporate governance/ethics; legal/regulatory compliance; executive experience; banking operations; strategic planning/oversight; technology; M&A—competency matrix indicates coverage across these domains for Lokey .
- Deep Central Coast market knowledge; decades of California banking leadership .
Equity Ownership
| Metric | Value | Notes |
|---|---|---|
| Total Beneficial Ownership (shares) | 12,721 | As of 3/28/2025 record date |
| Percent of Class | <1% | Marked as “*” below 1% |
| Unvested Restricted Shares | 1,820 | Retain voting rights; subject to forfeiture until vest (10) |
| Vested vs. Unvested | 10,901 vested; 1,820 unvested | Derived from table; unvested specified (10) |
| Ownership Guideline Compliance | Yes | Directors required to own ≥2,000 shares; all directors compliant as of 12/31/2024 |
| Pledging/Hedging | Prohibited by policy | Company policy prohibits pledging and hedging transactions in Company stock |
Governance Assessment
- Board effectiveness: Lokey brings substantial CEO-level and risk oversight experience; active on Strategic Planning and Executive Committee, signaling engagement in strategy and interim Board authority where delegated .
- Alignment: Holds 12,721 shares and meets ownership guidelines, with an annual director equity grant (1,820 RS) complementing cash fees, supporting skin-in-the-game while maintaining independence .
- Independence and attendance: Affirmed independent; met ≥75% attendance threshold; Executive Committee did not meet in 2024, but Strategic Planning met three times—supports governance participation without overboarding .
- Investor confidence signals: Say-on-pay support ~94% in prior year and strong 2025 vote outcomes on director elections and compensation indicate broad shareholder support of governance frameworks .
- Conflicts/related-party transactions: No material related-party transactions >$120k; any insider loans follow market terms and standard risk profiles; anti-pledging/hedging policies in place—no red flags identified in proxy .
RED FLAGS
- None disclosed in proxy regarding related-party transactions, hedging/pledging, or attendance shortfalls. Discretionary adjustments to NEO performance goals for merger-related items were applied in 2024, but these pertain to executive incentives rather than director pay, and are transparently disclosed .