Business Context and Reporting Period
Company: Central Valley Community Bancorp (Note: Request metadata listed "Community West Bancshares," but the filing identifies the registrant as Central Valley Community Bancorp).
Reporting Date: March 21, 2012.
Event: Entry into a Material Definitive Agreement (Item 1.01).
Context: The Board of Directors of Central Valley Community Bank, the sole subsidiary of the Company, approved amendments to the Director Split Dollar Agreement and Policy Endorsements.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on a corporate governance agreement and contains no financial performance data.
Material Changes
The amendments to the Director Split Dollar Agreement were made solely to clarify language. The filing explicitly states that the Company's monetary obligation to the participating directors remained unchanged and that no benefits paid under the agreements were amended.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. The document is a procedural report regarding the clarification of existing director compensation agreements.
Investor Verification Checklist
- Verify the exact nature of the language clarifications made to the Director Split Dollar Agreement.
- Confirm that the participating directors (Daniel N. Cunningham, Edwin S. Darden, Jr., Steven D. McDonald, Louis McMurray, and William S. Smittcamp) received no additional monetary benefits.
- Review the Company's most recent 10-K or 10-Q for actual financial performance metrics, as this 8-K does not contain them.