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CUSIP No. 204157101
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Page
7
of 10
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Item 1. Security and Issuer
This amended Schedule 13D relates to shares of common stock, without par value, of Community West Bancshares, a California corporation (the
Issuer). The Issuers principal executive office is located at 445 Pine Avenue, Goleta, California 93117.
Item 2. Identity
and Background
(a) The reporting persons are (i) Philip J. Timyan and Anna S. Belyaev, husband and wife,
(ii) Christopher R. Raffo, a director of the Issuer appointed to the Board of Directors of the Issuer (the Board) on July 28, 2020, (iii) Philip E. J. Timyan, Philip J. Timyans adult son, and (iv) Anne W. Timyan,
Philip J. Timyans adult daughter.
By virtue of Philip J. Timyan and Christopher R. Raffo entering into the option agreement
described in Item 6 of this amended Schedule 13D, Mr. Timyan and Mr. Raffo may be deemed to constitute a group for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the Exchange
Act). While Mr. Timyan and Mr. Raffo may be deemed to constitute a group for purposes of Section 13(d)(3) of the Exchange Act, Mr. Raffo is not, and will not become, a party to any agreement, arrangement or
understanding with, and has not given any commitment or assurance to, Philip J. Timyan as to how Mr. Raffo will, as a director of the Issuer, act or vote on any issue or question. Mr. Raffo expressly disclaims beneficial ownership of
securities held by Philip J. Timyan.
(b) Philip J. Timyan and Anna S. Belyaevs address is 105 Front Street, #122, Key West, Florida
33040. Mr. Raffos address is 3676 Whitworth Road, Gustine, CA 95322-9555. Philip E.J. Timyans address is 1008 Curtiss St, Apt 4 C , Downers Grove, IL 60515. Anne W. Timyans address is 800 N Second St #171, Philadelphia, PA
19123.
(c) The reporting persons are private investors. Philip J. Timyan is a director of Royal Financial, Inc., a bank holding company
located in Chicago, Illinois. Anna S. Belyaev is a private investor. For over thirty years, from 1985 to 2017, Mr. Raffo was a registered broker providing investment advice and other services for institutional and retail clients, with an almost
exclusive focus on community bank securities. Mr. Raffo currently manages his ranch in Gustine, California and owns and operates Raffo Racing, Ltd. Philip E.J. Timyan is a private investor. Anne W. Timyan is a private investor.
(d) No reporting person has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) No reporting person has, during the last five years, been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities
laws or finding any violation with respect to such laws.
(f) The reporting persons are citizens of the United States of America.
Item 3. Source and Amount of Funds or Other Consideration
Mr. Timyan and Ms. Belyaev purchased their shares of the Issuers common stock using personal funds. Mr. Raffo does not own
any shares of the Issuers common stock. Philip J. Timyan is the source of funds for Philip E. J. Timyan and Anne W. Timyans investment in the Issuers stock. Shares of the Issuer are listed on Nasdaqs Global Market under the
symbol CWBC.
Item 4. Purpose of Transaction
After discussions between Philip J. Timyan and the Issuer, on July 28, 2020, the Board of Directors (the Board) of the Issuer
elected Christopher R. Raffo as a member of the Board. Mr. Timyan and Mr. Raffo have entered into an option agreement under which Mr. Raffo will receive from Mr. Timyan an option to purchase shares of the Issuers common
stock effective upon Mr. Raffos appointment to the Issuers board of directors. The terms of the option agreement are described in Item 6 of this amendment to Schedule 13D.