CWBC 10-K Fiscal year ended Dec. 31, 2010

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE FISCAL YEAR ENDED DECEMBER 31, 2010

Commission File Number: 000-23575

COMMUNITY WEST BANCSHARES

(Exact name of registrant as specified in its charter)

California	77-0446957
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

445 Pine Avenue, Goleta, California	93117
(Address of principal executive offices)	(Zip code)

(805) 692-5821

(Registrant’s telephone number, including area code)

Securities registered under Section 12(b) of the Exchange Act:

Title of each class	Name of each exchange on which registered
Common Stock, No Par Value	Nasdaq Global Market

Securities registered under Section 12(g) of the Exchange Act: NONE

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.  Yes o No x

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act.  Yes o No x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes x No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes o No o

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of the registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. x

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a smaller reporting company.  See definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer o	Accelerated filer o
Non-accelerated filer (Do not check if smaller reporting company) o	Smaller reporting company x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).  Yes o No x

The aggregate market value of common stock, held by non-affiliates of the registrant as of June 30, 2010, was $8,366,628 based on a closing price of $2.50 for the common stock, as reported on the Nasdaq Global Market.  For purposes of the foregoing computation, all executive officers, directors and five percent beneficial owners of the registrant are deemed to be affiliates.  Such determination should not be deemed to be an admission that such executive officers, directors or five percent beneficial owners are, in fact, affiliates of the registrant.

As of March 23, 2011, 5,976,374 shares of the registrant’s common stock were outstanding.

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DOCUMENTS INCORPORATED BY REFERENCE

Portions of the registrant's definitive proxy statement to be filed with the Securities and Exchange Commission pursuant to Regulation 14A in connection with the 2010 Annual Meeting of Shareholders to be held on or about May 26, 2011 are incorporated by reference into Part III of this Report.  The proxy statement will be filed with the Securities and Exchange Commission not later than 120 days after the registrant's fiscal year ended December 31, 2010.

COMMUNITY WEST BANCSHARES

FORM 10-K

IN DEX

Part I					Page
	Item 1.		Business		4
	Item 1A .		Risk Factors		6
	Item 1B .		Unresolved Staff Comments		15
	Item 2.		Properties		15
	Item 3.		Legal Proceedings		15
	Item 4.		(Removed and Reserved)		15
Part II
	Item 5.		Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities		16
	Item 6.		Selected Financial Data		18
	Item 7.		Management's Discussion and Analysis of Financial Condition and Results of Operations		19
	Item 7A.		Quantitative and Qualitative Disclosure about Market Risk		51
	Item 8.		Consolidated Financial Statements and Supplementary Data		F1
	Item 9.		Changes in and Disagreements with Accountants on Accounting and Financial Disclosure		52
	Item 9A.		Controls and Procedures		52
	Item 9B.		Other Information		52
Part III
	Item 10.		Directors, Executive Officers and Corporate Governance		52
	Item 11.		Executive Compensation		53
	Item 12 .		Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters		53
	Item 13.		Certain Relationships and Related Transactions and Director Independence		53
	Item 14.		Principal Accounting Fees and Services		53
Part IV
	Item 15.		Exhibits, Financial Statement Schedules		53
Signatures					56