IRVINE, Calif.–(BUSINESS WIRE)–The Board of Directors of CommerceWest Bank (OTC:CWBK) (the "Bank") has approved entering into an Agreement and Plan of Reorganization and Merger (the "Plan of Merger") with CW Bancorp ("Bancorp") and CW Interim Merger Corp., by which the Bank intends to become a wholly-owned subsidiary of Bancorp. If the transaction is approved by the Bank's shareholders and the appropriate federal and California state regulatory authorities, each of the outstanding shares of the Bank's common stock will be exchanged for one share of Bancorp's common stock. As a result, the shares of Bancorp's common stock will be owned directly by the Bank's shareholders in the same proportion as their existing ownership of Bank common stock immediately prior to the reorganization. "We decided to undertake this transaction because we believe that this reorganization is in the best interest of our Bank and supports our long term growth strategy.