----

----

| x | QUARTERLY REPORT PURSUANT TO      SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|---|---------------------------------------------------------------------------------------------------|

|  ̈ | TRANSITION REPORT PURSUANT TO      SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|--------|----------------------------------------------------------------------------------------------------|

|   | 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) |   |

| Large      accelerated filer  ̈ | Accelerated      filer  ̈    |
|-------------------------------------|----------------------------------|
|                                |                             |
| Non-accelerated      filer  ̈   | Smaller      reporting company x |

----

----

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TABLE OF CONTENTS

| PART      I.                                                                                                                                                                                                 | FINANCIAL      INFORMATION | PAGE   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------|--------|
|                                                                                                                                                                                                         |                       |   |   |   |
|                                                                                                                                                                                                         | ITEM      1.               |   | FINANCIAL STATEMENTS (UNAUDITED) |   |
|                                                                                                                                                                                                         |                       |   |   |   |
|                                                                                                                                                                                                         |                       |   | CONSOLIDATED BALANCE SHEETS | 3 |
|                                                                                                                                                                                                         |                       |   |   |   |
|                                                                                                                                                                                                         |                       |   | CONSOLIDATED INCOME STATEMENTS | 4 |
|                                                                                                                                                                                                         |                       |   |   |   |
|                                                                                                                                                                                                         |                       |   | CONSOLIDATED STATEMENT OF STOCKHOLDERS’      EQUITY | 5 |
|                                                                                                                                                                                                         |                       |   |   |   |
|                                                                                                                                                                                                         |                       |   | CONSOLIDATED STATEMENTS OF CASH FLOWS | 6 |
|                                                                                                                                                                                                         |                       |   |   |   |
|                                                                                                                                                                                                         |                       |   | NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS | 7  |
|                                                                                                                                                                                                         |                       |   |   |   |
| The      financial statements included in this Form 10-Q should be read with      reference to Community West Bancshares’ Annual Report on Form 10-K for the      fiscal year ended December 31, 2007. |
|                                                                                                                                                                                                         |                       |   |   |   |
|                                                                                                                                                                                                         | ITEM      2.               |   | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION      AND RESULTS OF OPERATIONS | 11 |
|                                                                                                                                                                                                         |                       |   |   |   |
|                                                                                                                                                                                                         | ITEM      4T.              |   | CONTROLS AND PROCEDURES | 18 |
|                                                                                                                                                                                                         |                       |   |   |   |
| PART      II.                                                                                                                                                                                                | OTHER      INFORMATION     |   |
|                                                                                                                                                                                                         |                       |   |   |   |
|                                                                                                                                                                                                         | ITEM      1.               |   | LEGAL PROCEEDINGS | 19 |
|                                                                                                                                                                                                         |                       |   |   |   |
|                                                                                                                                                                                                         | ITEM      2.               |   | UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF      PROCEEDS | 19 |
|                                                                                                                                                                                                         |                       |   |   |   |
|                                                                                                                                                                                                         | ITEM      3.               |   | DEFAULTS UPON SENIOR SECURITIES | 19 |
|                                                                                                                                                                                                         |                       |   |   |   |
|                                                                                                                                                                                                         | ITEM      4.               |   | SUBMISSION      OF MATTERS TO A VOTE OFSECURITY      HOLDERS | 19 |
|                                                                                                                                                                                                         |                       |   |   |   |
|                                                                                                                                                                                                         | ITEM      5.               |   | OTHER INFORMATION | 19 |
|                                                                                                                                                                                                         |                       |   |   |   |
|                                                                                                                                                                                                         | ITEM      6.               |   | EXHIBITS | 19 |
|                                                                                                                                                                                                         |                       |   |   |   |
| SIGNATURES                                                                                                                                                                                                   |                       |   |   |

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Table of Contents

| ITEM      1. | FINANCIAL      STATEMENTS |
|--------------|---------------------------|

COMMUNITY WEST BANCSHARES

|                                                                                                                                                                                  |   | March      31, 2008         |    |   | December      31, 2007 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------|---------|--------|------------------------|--------|
|                                                                                                                                                                                  |   | (unaudited)                 |    |   |                   |   |
| ASSETS                                                                                                                                                                                |   | (dollars      in thousands) |    |
| Cash      and due from banks                                                                                                                                                          |   | $                           | 6,138   |   |                   | $      | 6,855 |   |
| Federal      funds sold                                                                                                                                                               |   |                        | 3,646   |   |                   |   | 2,434 |   |
| Cash      and cash equivalents                                                                                                                                                        |   |                        | 9,784   |   |                   |   | 9,289 |   |
| Time      deposits in other financial institutions                                                                                                                                    |   |                        | 677     |   |                   |   | 778 |   |
| Investment      securities available-for-sale, at fair value; amortized cost of $6,258 at      March 31, 2008 and $12,711 at December 31, 2007                                        |   |                        | 6,266   |   |                   |   | 12,664 |   |
| Investment      securities held-to-maturity, at amortized cost; fair value of $32,956 at      March 31, 2008 and $25,733 at December 31, 2007                                         |   |                        | 32,632  |   |                   |   | 25,617 |   |
| Federal      Home Loan Bank stock, at cost                                                                                                                                            |   |                        | 5,807   |   |                   |   | 5,734 |   |
| Federal      Reserve Bank stock, at cost                                                                                                                                              |   |                        | 812     |   |                   |   | 812 |   |
| Loans:                                                                                                                                                                                |   |                        |    |   |                   |   |   |   |
| Loans      held for sale, at lower of cost or fair value                                                                                                                              |   |                        | 118,516 |   |                   |   | 110,415 |   |
| Loans      held for investment, net of allowance for loan losses of $4,704 at March      31, 2008 and $4,412 at December 31, 2007                                                     |   |                        | 437,810 |   |                   |   | 428,750 |   |
| Total      loans                                                                                                                                                                      |   |                        | 556,326 |   |                   |   | 539,165 |   |
| Servicing      rights                                                                                                                                                                 |   |                        | 1,238   |   |                   |   | 1,206 |   |
| Other      assets acquired through foreclosure, net                                                                                                                                   |   |                        | 434     |   |                   |   | 150 |   |
| Premises      and equipment, net                                                                                                                                                      |   |                        | 3,819   |   |                   |   | 3,284 |   |
| Other      assets                                                                                                                                                                     |   |                        | 11,013  |   |                   |   | 11,151 |   |
| TOTAL      ASSETS                                                                                                                                                                     |   | $                           | 628,808 |   |                   | $      | 609,850 |   |
| LIABILITIES                                                                                                                                                                           |   |                        |    |   |                   |   |   |   |
| Deposits:                                                                                                                                                                             |   |                        |    |   |                   |   |   |   |
| Non-interest-bearing      demand                                                                                                                                                      |   | $                           | 33,679  |   |                   | $      | 33,240 |   |
| Interest-bearing      demand                                                                                                                                                          |   |                        | 65,021  |   |                   |   | 75,016 |   |
| Savings                                                                                                                                                                               |   |                        | 14,208  |   |                   |   | 14,905 |   |
| Time      certificates                                                                                                                                                                |   |                        | 346,545 |   |                   |   | 310,578 |   |
| Total      deposits                                                                                                                                                                   |   |                        | 459,453 |   |                   |   | 433,739 |   |
| Federal      Home Loan Bank advances                                                                                                                                                  |   |                        | 111,000 |   |                   |   | 121,000 |   |
| Other      liabilities                                                                                                                                                                |   |                        | 7,406   |   |                   |   | 4,952 |   |
| Total      liabilities                                                                                                                                                                |   |                        | 577,859 |   |                   |   | 559,691 |   |
| STOCKHOLDERS'      EQUITY                                                                                                                                                             |   |                        |    |   |                   |   |   |   |
| Common      stock, no par value; 10,000,000 shares      authorized;  5,909,630 shares issued and outstanding at March      31, 2008 and 5,894,585 at December 31, 2007 |   |                        | 31,751  |   |                   |   | 31,636 |   |
| Retained      earnings                                                                                                                                                                |   |                        | 19,193  |   |                   |   | 18,551 |   |
| Accumulated      other comprehensive income (loss), net                                                                                                                               |   |                        | 5       |   |                   |   | (28 | ) |
| Total      stockholders' equity                                                                                                                                                       |   |                        | 50,949  |   |                   |   | 50,159 |   |
| TOTAL      LIABILITIES AND STOCKHOLDERS’ EQUITY                                                                                                                                 |   | $                           | 628,808 |   |                   | $      | 609,850 |   |

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COMMUNITY WEST BANCSHARES

|                                                              |   | Three      Months Ended March 31,             |   |
|-------------------------------------------------------------------|--------|-----------------------------------------------|--------|
|                                                              |   | 2008                                          |   |   | 2007 |   |
|                                                              |   | (in      thousands, except per share amounts) |   |
| INTEREST      INCOME                                              |   |                                          |   |   |   |   |
| Loans                                                             |   | $                                             | 11,360 |   |   | $ | 10,435 |   |
| Investment      securities                                        |   |                                          | 565    |   |   |   | 444 |   |
| Other                                                             |   |                                          | 86     |   |   |   | 169 |   |
| Total      interest income                                        |   |                                          | 12,011 |   |   |   | 11,048 |   |
| INTEREST      EXPENSE                                             |   |                                          |   |   |   |   |   |   |
| Deposits                                                          |   |                                          | 4,495  |   |   |   | 4,112 |   |
| Other      borrowings                                             |   |                                          | 1,355  |   |   |   | 1,191 |   |
| Total      interest expense                                       |   |                                          | 5,850  |   |   |   | 5,303 |   |
| NET      INTEREST INCOME                                          |   |                                          | 6,161  |   |   |   | 5,745 |   |
| Provision      for loan losses                                    |   |                                          | 673    |   |   |   | 285 |   |
| NET      INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES          |   |                                          | 5,488  |   |   |   | 5,460 |   |
| NON-INTEREST      INCOME                                          |   |                                          |   |   |   |   |   |   |
| Other      loan fees                                              |   |                                          | 570    |   |   |   | 743 |   |
| Gains      from loan sales, net                                   |   |                                          | 282    |   |   |   | 104 |   |
| Document      processing fees                                     |   |                                          | 188    |   |   |   | 177 |   |
| Loan      servicing, net                                          |   |                                          | 239    |   |   |   | 26 |   |
| Service      charges                                              |   |                                          | 109    |   |   |   | 102 |   |
| Other                                                             |   |                                          | 26     |   |   |   | 23 |   |
| Total      non-interest income                                    |   |                                          | 1,414  |   |   |   | 1,175 |   |
| NON-INTEREST      EXPENSES                                        |   |                                          |   |   |   |   |   |   |
| Salaries      and employee benefits                               |   |                                          | 3,641  |   |   |   | 3,602 |   |
| Occupancy      and equipment expenses                             |   |                                          | 582    |   |   |   | 464 |   |
| Professional      services                                        |   |                                          | 227    |   |   |   | 251 |   |
| Advertising      and marketing                                    |   |                                          | 107    |   |   |   | 163 |   |
| Depreciation                                                      |   |                                          | 133    |   |   |   | 126 |   |
| Other      operating expenses                                     |   |                                          | 490    |   |   |   | 593 |   |
| Total      non-interest expenses                                  |   |                                          | 5,180  |   |   |   | 5,199 |   |
| Income      before provision for income taxes                     |   |                                          | 1,722  |   |   |   | 1,436 |   |
| Provision      for income taxes                                   |   |                                          | 725    |   |   |   | 610 |   |
| NET      INCOME                                                   |   | $                                             | 997    |   |   | $ | 826 |   |
|                                                              |   |                                          |   |   |   |   |   |   |
| INCOME      PER SHARE – BASIC                               |   | $                                             | 0.17   |   |   | $ | 0.14 |   |
| INCOME      PER SHARE – DILUTED                             |   | $                                             | 0.17   |   |   | $ | 0.14 |   |
| Basic      weighted average number of common shares outstanding   |   |                                          | 5,909  |   |   |   | 5,824 |   |
| Diluted      weighted average number of common shares outstanding |   |                                          | 5,975  |   |   |   | 6,030 |   |

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COMMUNITY WEST BANCSHARES

|                                                                                |   |        Common Stock  |   |   | Retained |   |   |  Accumulated      Other Comprehensive Income |   |   | Total      Stockholders’ |   |
|-------------------------------------------------------------------------------------|--------|---------------------------|--------|--------|----------|--------|--------|---------------------------------------------------|--------|--------|--------------------------------|--------|
|                                                                                |   | Shares                    |   |   | Amount   |   |   |  Earnings                                    |   |   | (Loss)                         |   |   | Equity |   |
|                                                                                |   | (in      thousands)  |   |
|                                                                                |   |                      |   |   |     |   |   |                                              |   |   |                           |   |   |   |   |   |   |   |   |   |
| BALANCES      ATJANUARY      1, 2008                                                |   |                      | 5,895  |   |     | $      | 31,636 |                                              |   | $      | 18,551                         |   |   | $ | (28 | ) |   | $ | 50,159 |   |
| Exercise      of stock options                                                      |   |                      | 15     |   |     |   | 75     |                                              |   |   |                           |   |   |   | - |   |   |   | 75 |   |
| Stock-based      compensation                                                       |   |                      |   |   |     |   | 40     |                                              |   |   |                           |   |   |   |   |   |   |   | 40 |   |
| Comprehensive      income:                                                          |   |                      |   |   |     |   |   |                                              |   |   |                           |   |   |   |   |   |   |   |   |   |
| Net      income                                                                     |   |                      |   |   |     |   |   |                                              |   |   | 997                            |   |   |   | - |   |   |   | 997 |   |
| Change      in unrealized gains (losses) on securities Available-for-sale,      net |   |                      |   |   |     |   |   |                                              |   |   |                           |   |   |   | 33 |   |   |   | 33 |   |
| Total      comprehensive income                                                     |   |                      |   |   |     |   |   |                                              |   |   |                           |   |   |   |   |   |   |   | 1,030 |   |
| Cash      dividends paid ($0.06  per share)                               |   |                      |   |   |     |   |   |                                              |   |   | (355                           | )      |   |   |   |   |   |   | (355 | ) |
| BALANCES      ATMARCH 31,      2008                                                 |   |                      | 5,910  |   |     | $      | 31,751 |                                              |   | $      | 19,193                         |   |   | $ | 5 |   |   | $ | 50,949 |   |

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COMMUNITY WEST BANCSHARES

|                                                                                        |   | Three      Months Ended March 31, |    |
|---------------------------------------------------------------------------------------------|--------|-----------------------------------|---------|
|                                                                                        |   | 2008                              |    |   | 2007 |   |
|                                                                                        |   | (in      thousands)               |    |
| CASH FLOWS FROM OPERATING      ACTIVITIES:                                                  |   |                              |    |   |   |   |
| Net      income                                                                             |   | $                                 | 997     |   |   | $ | 826 |   |
| Adjustments      to reconcile net income to net cash provided by operating      activities: |   |                              |    |   |   |   |   |   |
| Provision      for loan losses                                                              |   |                              | 673     |   |   |   | 285 |   |
| Depreciation      and amortization                                                          |   |                              | 133     |   |   |   | 126 |   |
| Stock-based      compensation                                                               |   |                              | 40      |   |   |   | 44 |   |
| Net      amortization of discounts and premiums for investment      securities              |   |                              | (17     | ) |   |   | 8 |   |
| Gains      on  sale of loans                                                      |   |                              | (282    | ) |   |   | (104 | ) |
| Federal      Home Loan Bank stock dividend                                                  |   |                              | (73     | ) |   |   | (62 | ) |
| Loans      originated for sale and principal collections, net                               |   |                              | (2,143  | ) |   |   | 1,319 |   |
| Changes      in:                                                                            |   |                              |    |   |   |   |   |   |
| Servicing      rights, net of amortization and valuation adjustments                        |   |                              | (32     | ) |   |   | 233 |   |
| Other      assets                                                                           |   |                              | 83      |   |   |   | 160 |   |
| Other      liabilities                                                                      |   |                              | 2,487   |   |   |   | (571 | ) |
| Net      cash provided by operating activities                                              |   |                              | 1,866   |   |   |   | 2,264 |   |
| CASH      FLOWS FROM INVESTING ACTIVITIES:                                                  |   |                              |    |   |   |   |   |   |
| Purchase      of held-to-maturity securities                                                |   |                              | (8,996  | ) |   |   | (2,000 | ) |
| Purchase      of Federal Home Loan Bank stock                                               |   |                              | -       |   |   |   | (94 | ) |
| Principal      paydowns and maturities of held-to-maturity securities                       |   |                              | 1,998   |   |   |   | 1,052 |   |
| Principal      paydowns and maturities of available-for-sale securities                     |   |                              | 6,453   |   |   |   | 530 |   |
| Loan      originations and principal collections, net                                       |   |                              | (15,693 | ) |   |   | (22,814 | ) |
| Net      decrease (increase) in time deposits in other financial      institutions          |   |                              | 101     |   |   |   | (119 | ) |
| Purchase      of premises and equipment, net                                                |   |                              | (668    | ) |   |   | (135 | ) |
| Net      cash used in investing activities                                                  |   |                              | (16,805 | ) |   |   | (23,580 | ) |
| CASH FLOWS FROM FINANCING      ACTIVITIES:                                                  |   |                              |    |   |   |   |   |   |
| Exercise      of stock options                                                              |   |                              | 75      |   |   |   | 203 |   |
| Cash      dividends paid to shareholders                                                    |   |                              | (355    | ) |   |   | (349 | ) |
| Net      (decrease) increase in demand deposits and savingsaccounts                         |   |                              | (10,253 | ) |   |   | 7,099 |   |
| Net      increase in time certificates of deposit                                           |   |                              | 35,967  |   |   |   | 24,284 |   |
| Proceeds      from Federal Home Loan Bank Advances                                          |   |                              | 5,000   |   |   |   | 12,000 |   |
| Repayments      of Federal Home Loan Bank Advances                                          |   |                              | (15,000 | ) |   |   | (9,000 | ) |
| Net      cash provided by financing activities                                              |   |                              | 15,434  |   |   |   | 34,237 |   |
| NET      INCREASE IN CASH AND CASH EQUIVALENTS                                              |   |                              | 495     |   |   |   | 12,921 |   |
| CASH      AND CASH EQUIVALENTS, BEGINNING OF PERIOD                                         |   |                              | 9,289   |   |   |   | 11,343 |   |
| CASH      AND CASH EQUIVALENTS, END OF PERIOD                                               |   | $                                 | 9,784   |   |   | $ | 24,264 |   |
|                                                                                        |   |                              |    |   |   |   |   |   |
| Supplemental      Disclosure of Cash Flow Information:                                      |   |                              |    |   |   |   |   |   |
| Cash      paid for interest                                                                 |   | $                                 | 3,764   |   |   | $ | 3,509 |   |
| Cash      paid for income taxes                                                             |   |                              | -       |   |   |   | 447 |   |
|                                                                                        |   |                              |    |   |   |   |   |   |
| Supplemental      Disclosure of Noncash Investing Activity:                                 |   |                              |    |   |   |   |   |   |
| Transfers      to other assets acquired through foreclosure                                 |   | $                                 | 284     |   |   | $ | - |   |

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COMMUNITY WEST BANCSHARES

|   | · | SBA      – All loans are reviewed and classified loans are assigned a specific      allowance.  Those not classified are assigned a pass      rating.  A migration analysis and various portfolio specific      factors are used to calculate the required allowance on those pass      loans. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Relationship      Banking – Includes commercial, commercial real estate and consumer      loans.  Classified loans are assigned a specific      allowance.  A migration analysis and various portfolio specific      factors are used to calculate the required allowance on the remaining pass      loans. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Manufactured      Housing – An allowance is calculated on the basis of risk rating, which is      a combination of delinquency, value of collateral on classified loans and      perceived risk in the product line. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                |   | March      31,      |    |   | December      31, |   |
|-------------------------------------|--------|---------------------|---------|--------|-------------------|--------|
|                                |   | 2008                |    |   | 2007              |   |
|                                |   | (in      thousands) |    |
| Commercial                          |   | $                   | 70,967  |   |              | $      | 72,470 |   |
| Real      Estate                    |   |                | 142,020 |   |              |   | 136,734 |   |
| SBA                                 |   |                | 34,831  |   |              |   | 34,021 |   |
| Manufactured      housing           |   |                | 175,992 |   |              |   | 172,938 |   |
| Securitized                         |   |                | 7,050   |   |              |   | 7,507 |   |
| Other      installment              |   |                | 12,178  |   |              |   | 10,027 |   |
|                                |   |                | 443,038 |   |              |   | 433,697 |   |
| Less:                               |   |                |    |   |              |   |   |   |
| Allowance      for loan losses      |   |                | 4,704   |   |              |   | 4,412 |   |
| Deferred      fees (costs)          |   |                | (31     | )      |              |   | 25 |   |
| Purchased      premiums             |   |                | (64     | )      |              |   | (73 | ) |
| Discount      on SBA loans          |   |                | 619     |   |              |   | 583 |   |
| Loans      held for investment, net |   | $                   | 437,810 |   |              | $      | 428,750 |   |

|                                            |   | Three      Months Ended March 31, |   |
|-------------------------------------------------|--------|-----------------------------------|--------|
|                                            |   | 2008                              |   |   | 2007 |   |
|                                            |   | (in      thousands)               |   |
| Balance,      beginning of period               |   | $                                 | 4,412  |   |   | $ | 3,926 |   |
|                                            |   |                              |   |   |   |   |   |   |
| Loans      charged off                          |   |                              | (400   | ) |   |   | (143 | ) |
| Recoveries      on loans previously charged off |   |                              | 19     |   |   |   | 42 |   |
| Net      charge-offs                            |   |                              | (381   | ) |   |   | (101 | ) |
|                                            |   |                              |   |   |   |   |   |   |
| Provision      for loan losses                  |   |                              | 673    |   |   |   | 285 |   |
| Balance,      end of period                     |   | $                                 | 4,704  |   |   | $ | 4,110 |   |

|                                                           |   | March      31,      |   |   | December      31, |   |
|----------------------------------------------------------------|--------|---------------------|--------|--------|-------------------|--------|
|                                                           |   | 2008                |   |   | 2007              |   |
|                                                           |   | (in      thousands) |   |
| Impaired      loans without specific valuation allowances      |   | $                   | -      |   |              | $      | 33 |   |
| Impaired      loans with specific valuation allowances         |   |                | 9,892  |   |              |   | 16,468 |   |
| Specific      valuation allowances allocated to impaired loans |   |                | (931   | )      |              |   | (966 | ) |
| Impaired      loans, net                                       |   | $                   | 8,961  |   |              | $      | 15,535 |   |
|                                                           |   |                |   |   |              |   |   |   |
| Average      investment in impaired loans                      |   | $                   | 9,566  |   |              | $      | 9,386 |   |

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|                                                |   | Fair      value measurements at reporting date using |   |
|-----------------------------------------------------|--------|------------------------------------------------------|--------|
|                                                |   |                                                 |   |   | Quoted      prices in active markets for identical assets |   |   | Significant      other observable inputs |   |   | Significant      unobservable inputs |   |
| Description                                         |   | Total                                                |   |   | (Level      1) |   |   | (Level      2) |   |   | (Level      3) |   |
|                                                |   | (in      thousands)                                  |   |
| Investment      securities available-for-sale       |   | $                                                    | 6,266  |   |   | $ | 6,266 |   |   | $ | - |   |   | $ | - |   |
| Interest      only strip (included in other assets) |   |                                                 | 774    |   |   |   | - |   |   |   | 774 |   |   |   | - |   |
| Total                                               |   | $                                                    | 7,040  |   |   | $ | 6,266 |   |   | $ | 774 |   |   | $ | - |   |

|                                         |   | Three      Months Ended March 31, |   |
|----------------------------------------------|--------|-----------------------------------|--------|
|                                         |   | 2008                              |   |   | 2007 |   |
|                                         |   | (in      thousands)               |   |
| Weighted      average shares – Basic   |   |                              | 5,909  |   |   |   | 5,824 |   |
| Dilutive      effect of options              |   |                              | 66     |   |   |   | 206 |   |
| Weighted      average shares – Diluted |   |                              | 5,975  |   |   |   | 6,030 |   |

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Table of Contents

| ITEM 2. | MANAGEMENT'S      DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF      OPERATIONS |
|---------|-------------------------------------------------------------------------------------------------|

|   | · | an      8.7% increase in interest income primarily due to higher average loan      balances which increased to $553 million for the first quarter 2008      compared to $469 million for the same period of  2007 |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | a      200 basis point cut in the target federal funds rate from 4.25% at      December 31, 2007 to 2.25% as of March 31, 2008, impacting both yields on      loans and rates paid on deposits |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | the      sale of $3.8 million in guaranteed SBA loans in the first quarter 2008      compared to none in the first quarter2007 |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------|

|   | · | relatively      flat  non-interest expenses for the first quarter 2008 compared      to 2007 |
|--------|--------|--------------------------------------------------------------------------------------------------------|

|   | · | increased      provision for loan losses reflecting loan growth and higher      charge-offs |
|--------|--------|---------------------------------------------------------------------------------------------|

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Table of Contents

|                                                     |   | Three      Months Ended March 31,                     |   |   |   |   |
|----------------------------------------------------------|--------|-------------------------------------------------------|--------|--------|--------|--------|
|                                                     |   | 2008                                                  |   |   | 2007   |   |   | Increase(Decrease) |   |
|                                                     |   | (dollars      in thousands, except per share amounts) |   |
| Interest      income                                     |   | $                                                     | 12,011 |   |   | $      | 11,048 |   |   | $ | 963 |   |
| Interest      expense                                    |   |                                                  | 5,850  |   |   |   | 5,303 |   |   |   | 547 |   |
| Net      interest income                                 |   |                                                  | 6,161  |   |   |   | 5,745 |   |   |   | 416 |   |
| Provision      for loan losses                           |   |                                                  | 673    |   |   |   | 285 |   |   |   | 388 |   |
| Net      interest income after provision for loan losses |   |                                                  | 5,488  |   |   |   | 5,460 |   |   |   | 28 |   |
| Non-interest      income                                 |   |                                                  | 1,414  |   |   |   | 1,175 |   |   |   | 239 |   |
| Non-interest      expenses                               |   |                                                  | 5,180  |   |   |   | 5,199 |   |   |   | (19 | ) |
| Income      before provision for income taxes            |   |                                                  | 1,722  |   |   |   | 1,436 |   |   |   | 286 |   |
| Provision      for income taxes                          |   |                                                  | 725    |   |   |   | 610 |   |   |   | 115 |   |
| Net      income                                          |   | $                                                     | 997    |   |   | $      | 826 |   |   | $ | 171 |   |
| Earnings      per share - Basic                          |   | $                                                     | .17    |   |   | $      | .14 |   |   | $ | .03 |   |
| Earnings      per share – Diluted                  |   | $                                                     | .17    |   |   | $      | .14 |   |   | $ | .03 |   |
| Dividends      per common share                          |   | $                                                     | .06    |   |   | $      | .06 |   |   | $ | - |   |
| Comprehensive      income                                |   | $                                                     | 1,030  |   |   | $      | 841 |   |   | $ | 189 |   |

|                                    |   | Three      Months Ended March 31, |   |
|-----------------------------------------|--------|-----------------------------------|--------|
|                                    |   | 2008      versus 2007             |   |
|                                    |   |                              |   |   | Change due to |   |
|                                    |   | Total      change                 |   |   | Rate |   |   | Volume |   |
|                                    |   | (in      thousands)               |   |
| Loans,      net                         |   | $                                 | 925    |   |   | $ | (752 | ) |   | $ | 1,677 |   |
| Investment      securities              |   |                              | 121    |   |   |   | 39 |   |   |   | 82 |   |
| Other                                   |   |                              | (83    | ) |   |   | (57 | ) |   |   | (26 | ) |
| Total      interest-earning assets      |   |                              | 963    |   |   |   | (770 | ) |   |   | 1,733 |   |
|                                    |   |                              |   |   |   |   |   |   |   |   |   |   |
| Deposits                                |   |                              | 383    |   |   |   | (279 | ) |   |   | 662 |   |
| Other      borrowings                   |   |                              | 164    |   |   |   | (69 | ) |   |   | 233 |   |
| Total      interest-bearing liabilities |   |                              | 547    |   |   |   | (348 | ) |   |   | 895 |   |
| Net      interest income                |   | $                                 | 416    |   |   | $ | (422 | ) |   | $ | 838 |   |

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Table of Contents

|                                                            |   | Three      MonthsEnded      March 31, |    |
|-----------------------------------------------------------------|--------|---------------------------------------|---------|
|                                                            |   | 2008                                  |    |   | 2007 |   |
| Interest-earning      assets:                                   |   | (dollars      in thousands)           |    |
| Interest-earning      deposits in other financial institutions: |   |                                  |    |   |   |   |
| Average      balance                                            |   | $                                     | 1,026   |   |   | $ | 822 |   |
| Interest      income                                            |   |                                  | 9       |   |   |   | 10 |   |
| Average      yield                                              |   |                                  | 3.43    | % |   |   | 4.60 | % |
| Federal      funds sold:                                        |   |                                  |    |   |   |   |   |   |
| Average      balance                                            |   | $                                     | 9,105   |   |   | $ | 12,385 |   |
| Interest      income                                            |   |                                  | 77      |   |   |   | 159 |   |
| Average      yield                                              |   |                                  | 3.40    | % |   |   | 5.22 | % |
| Investment      securities:                                     |   |                                  |    |   |   |   |   |   |
| Average      balance                                            |   | $                                     | 44,745  |   |   | $ | 38,246 |   |
| Interest      income                                            |   |                                  | 565     |   |   |   | 444 |   |
| Average      yield                                              |   |                                  | 5.08    | % |   |   | 4.71 | % |
| Gross      loans:                                               |   |                                  |    |   |   |   |   |   |
| Average      balance                                            |   | $                                     | 552,684 |   |   | $ | 468,527 |   |
| Interest      income                                            |   |                                  | 11,360  |   |   |   | 10,435 |   |
| Average      yield                                              |   |                                  | 8.27    | % |   |   | 9.03 | % |
| Total      interest-earning assets:                             |   |                                  |    |   |   |   |   |   |
| Average      balance                                            |   | $                                     | 607,560 |   |   | $ | 519,980 |   |
| Interest      income                                            |   |                                  | 12,011  |   |   |   | 11,048 |   |
| Average      yield                                              |   |                                  | 7.95    | % |   |   | 8.62 | % |

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Table of Contents

|                                     |   | Three      Months Ended      March 31, |    |
|------------------------------------------|--------|---------------------------------------------|---------|
|                                     |   | 2008                                        |    |   | 2007 |   |
| Interest-bearing      liabilities:       |   | (dollars      in thousands)                 |    |
| Interest-bearing      demand deposits:   |   |                                        |    |   |   |   |
| Average      balance                     |   | $                                           | 70,574  |   |   | $ | 50,136 |   |
| Interest      expense                    |   |                                        | 408     |   |   |   | 407 |   |
| Average      cost of funds               |   |                                        | 2.32    | % |   |   | 3.29 | % |
| Savings      deposits:                   |   |                                        |    |   |   |   |   |   |
| Average      balance                     |   | $                                           | 14,114  |   |   | $ | 15,316 |   |
| Interest      expense                    |   |                                        | 130     |   |   |   | 129 |   |
| Average      cost of funds               |   |                                        | 3.71    | % |   |   | 3.42 | % |
| Time      certificates of deposit:       |   |                                        |    |   |   |   |   |   |
| Average      balance                     |   | $                                           | 332,358 |   |   | $ | 285,834 |   |
| Interest      expense                    |   |                                        | 3,957   |   |   |   | 3,576 |   |
| Average      cost of funds               |   |                                        | 4.79    | % |   |   | 5.07 | % |
| Other      borrowings:                   |   |                                        |    |   |   |   |   |   |
| Average      balance                     |   | $                                           | 116,582 |   |   | $ | 96,600 |   |
| Interest      expense                    |   |                                        | 1,355   |   |   |   | 1,191 |   |
| Average      cost of funds               |   |                                        | 4.67    | % |   |   | 5.00 | % |
| Total      interest-bearing liabilities: |   |                                        |    |   |   |   |   |   |
| Average      balance                     |   | $                                           | 533,628 |   |   | $ | 447,886 |   |
| Interest      expense                    |   |                                        | 5,850   |   |   |   | 5,303 |   |
| Average      cost of funds               |   |                                        | 4.41    | % |   |   | 4.80 | % |
|                                     |   |                                        |    |   |   |   |   |   |
| Net      interest income                 |   | $                                           | 6,161   |   |   | $ | 5,745 |   |
| Net      interest spread                 |   |                                        | 3.55    | % |   |   | 3.82 | % |
| Average      net margin                  |   |                                        | 4.08    | % |   |   | 4.48 | % |

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Table of Contents

| Selected      balance sheet accounts(dollars      in thousands) |   | March      31, 2008 |    |   | December      31, 2007 |   |    | Increase      (Decrease) |   |   | Percent      of Increase (Decrease) |   |
|-----------------------------------------------------------------|--------|---------------------|---------|--------|------------------------|--------|---------|--------------------------|--------|--------|-------------------------------------|--------|
|                                                            |   |                |    |   |                   |   |    |                     |   |   |                                |   |
| Cash      and cash equivalents                                  |   | $                   | 9,784   |   |                   | $      | 9,289   |                     |   | $      | 495                                 |   |   |   | 5.3 | % |
| Investment      securities available-for-sale                   |   |                | 6,266   |   |                   |   | 12,664  |                     |   |   | (6,398                              | )      |   |   | (50.5 | %) |
| Investment      securities held-to-maturity                     |   |                | 32,632  |   |                   |   | 25,617  |                     |   |   | 7,015                               |   |   |   | 27.4 | % |
| Loans-Held      for sale                                        |   |                | 118,516 |   |                   |   | 110,415 |                     |   |   | 8,101                               |   |   |   | 7.3 | % |
| Loans-Held      for investment, net                             |   |                | 437,810 |   |                   |   | 428,750 |                     |   |   | 9,060                               |   |   |   | 2.1 | % |
| Total      Assets                                               |   |                | 628,808 |   |                   |   | 609,850 |                     |   |   | 18,958                              |   |   |   | 3.1 | % |
|                                                            |   |                |    |   |                   |   |    |                     |   |   |                                |   |   |   |   |   |
| Total      Deposits                                             |   |                | 459,453 |   |                   |   | 433,739 |                     |   |   | 25,714                              |   |   |   | 5.9 | % |
| Federal      Home Loan Bank advances                            |   |                | 111,000 |   |                   |   | 121,000 |                     |   |   | (10,000                             | )      |   |   | (8.3 | %) |
|                                                            |   |                |    |   |                   |   |    |                     |   |   |                                |   |   |   |   |   |
| Total      Stockholders' Equity                                 |   |                | 50,949  |   |                   |   | 50,159  |                     |   |   | 790                                 |   |   |   | 1.6 | % |

|                                       |   | March      31, 2008         |    |   | December      31, 2007 |   |    | Increase      (Decrease) |   |   | Percent      of Increase (Decrease) |   |
|--------------------------------------------|--------|-----------------------------|---------|--------|------------------------|--------|---------|--------------------------|--------|--------|-------------------------------------|--------|
|                                       |   | (dollars      in thousands) |    |
| Non-interest-bearing      deposits         |   | $                           | 33,679  |   |                   | $      | 33,240  |                     |   | $      | 439                                 |   |   |   | 1.3 | % |
| Interest-bearing      deposits             |   |                        | 65,021  |   |                   |   | 75,016  |                     |   |   | (9,995                              | )      |   |   | (13.3 | %) |
| Savings                                    |   |                        | 14,208  |   |                   |   | 14,905  |                     |   |   | (697                                | )      |   |   | (4.7 | %) |
| Time      certificates of $100,000 or more |   |                        | 72,517  |   |                   |   | 60,782  |                     |   |   | 11,735                              |   |   |   | 19.3 | % |
| Other      time certificates               |   |                        | 274,028 |   |                   |   | 249,796 |                     |   |   | 24,232                              |   |   |   | 9.7 | % |
| Total      deposits                        |   | $                           | 459,453 |   |                   | $      | 433,739 |                     |   | $      | 25,714                              |   |   |   | 5.9 | % |

|                                                           |   | March      31,      |   |   | December 31, |   |
|----------------------------------------------------------------|--------|---------------------|--------|--------|-------------------|--------|
|                                                           |   | 2008                |   |   | 2007              |   |
|                                                           |   | (in      thousands) |   |
| Impaired      loans without specific valuation allowances      |   | $                   | -      |   |              | $      | 33 |   |
| Impaired      loans with specific valuation allowances         |   |                | 9,892  |   |              |   | 16,468 |   |
| Specific      valuation allowances allocated to impaired loans |   |                | (931   | )      |              |   | (966 | ) |
| Impaired      loans, net                                       |   | $                   | 8,961  |   |              | $      | 15,535 |   |
|                                                           |   |                |   |   |              |   |   |   |
| Average      investment in impaired loans                      |   | $                   | 9,566  |   |              | $      | 9,386 |   |

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Table of Contents

|                                                                             |   | March      31,              |   |   | December 31, |   |
|----------------------------------------------------------------------------------|--------|-----------------------------|--------|--------|-------------------|--------|
|                                                                             |   | 2008                        |   |   | 2007              |   |
|                                                                             |   | (dollars      in thousands) |   |
| Nonaccrual      loans                                                            |   | $                           | 17,555 |   |              | $      | 15,341 |   |
| SBA      guaranteed portion of loans included above                              |   |                        | (6,907 | )      |              |   | (5,695 | ) |
| Nonaccrual      loans, net                                                       |   | $                           | 10,648 |   |              | $      | 9,646 |   |
|                                                                             |   |                        |   |   |              |   |   |   |
| Troubled      debt restructured loans, gross                                     |   | $                           | 5,864  |   |              | $      | 7,255 |   |
| Loans      30 through 89 days past due with interest accruing                    |   |                        | 5,960  |   |              |   | 18,898 |   |
| Allowance      for loan losses to gross loans (including loans held for    sale) |   |                        | .84    | %      |              |   | .81 | % |

| Liquidity      and Capital Resources |
|--------------------------------------|

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Table of Contents

|   | · | Lag Risk – lag risk      results from the inherent timing difference between the repricing of the      Company’s adjustable rate assets and liabilities.  For instance,      certain loans tied to the prime rate index may only reprice on a quarterly      basis.  However, at a community bank such as CWB, when rates are      rising, funding sources tend to reprice more slowly than the      loans.  Therefore, for CWB, the effect of this timing difference      is generally favorable during a period of rising interest rates and      unfavorable during a period of declining interest rates.  This      lag can produce some short-term volatility, particularly in times of      numerous prime rate changes. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Repricing Risk –      repricing risk is caused by the mismatch in the maturities / repricing      periods between interest-earning assets and interest-bearing      liabilities.  If CWB was perfectly matched, the net interest      margin would expand during rising rate periods and contract during falling      rate periods.  This is so since loans tend to reprice more      quickly than do funding sources.  Typically, since CWB is      somewhat asset sensitive, this would also tend to expand the net interest      margin during times of interest rateincreases. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Basis Risk – item      pricing tied to different indices may tend to react differently, however,      substantially all CWB’s variable products are priced off the prime      rate. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Prepayment Risk –      prepayment risk results from borrowers paying down / off their loans prior      to maturity.  Prepayments on fixed-rate products increase in      falling interest rate environments and decrease in rising interest rate      environments.  Since a majority of CWB’s loan originations are      adjustable rate and set based on prime, and there is little lag time on      the reset, CWB does not experience significant      prepayments.  However, CWB does have more prepayment risk on its      securitized and manufactured housing loans and its mortgage-backed      investment securities. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Table of Contents

| (dollars      in thousands)  |   | Total      Capital |   |   | Tier      1 Capital |   |   | Risk-Weighted      Assets |   |   | Adjusted      Average Assets |   |   | Total      Risk-Based Capital Ratio |    |   | Tier      1 Risk-Based Capital Ratio |   |   | Tier      1 Leverage Ratio |   |
|------------------------------|--------|--------------------|--------|--------|---------------------|--------|--------|---------------------------|--------|--------|------------------------------|--------|--------|-------------------------------------|---------|--------|--------------------------------------|--------|--------|----------------------------|--------|
| March      31, 2008          |   |               |   |   |                |   |   |                      |   |   |                         |   |   |                                |    |   |                                 |   |   |
| CWBC      (Consolidated)     |   | $                  | 55,524 |   |                | $      | 50,820 |                      |   | $      | 512,783                      |   |   | $                                   | 624,972 |   |                                 |   | 10.82  | %                          |   |   | 9.91 | % |   |   | 8.13 | % |
| CWB                          |   |               | 53,882 |   |                |   | 49,178 |                      |   |   | 512,919                      |   |   |                                | 622,610 |   |                                 |   | 10.50  |                       |   |   | 9.59 |   |   |   | 7.90 |   |
|                         |   |               |   |   |                |   |   |                      |   |   |                         |   |   |                                |    |   |                                 |   |   |                       |   |   |   |   |   |   |   |   |
| December      31, 2007       |   |               |   |   |                |   |   |                      |   |   |                         |   |   |                                |    |   |                                 |   |   |                       |   |   |   |   |   |   |   |   |
| CWBC      (Consolidated)     |   | $                  | 54,479 |   |                | $      | 50,067 |                      |   | $      | 507,228                      |   |   | $                                   | 596,631 |   |                                 |   | 10.74  | %                          |   |   | 9.87 | % |   |   | 8.39 | % |
| CWB                          |   |               | 51,520 |   |                |   | 47,108 |                      |   |   | 507,017                      |   |   |                                | 591,755 |   |                                 |   | 10.16  |                       |   |   | 9.29 |   |   |   | 7.96 |   |
|                         |   |               |   |   |                |   |   |                      |   |   |                         |   |   |                                |    |   |                                 |   |   |                       |   |   |   |   |   |   |   |   |
| Well      capitalized ratios |   |               |   |   |                |   |   |                      |   |   |                         |   |   |                                |    |   |                                 |   | 10.00  |                       |   |   | 6.00 |   |   |   | 5.00 |   |
| Minimum      capital ratios  |   |               |   |   |                |   |   |                      |   |   |                         |   |   |                                |    | 8.00   |                                 |   |   | 4.00                       |   |   |   | 4.00 |   |

| Supervision      and Regulation |
|---------------------------------|

| ITEM      4T. | CONTROLS      AND PROCEDURES |
|---------------|------------------------------|

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Table of Contents

| ITEM      1. | LEGAL      PROCEEDINGS |
|--------------|------------------------|

| ITEM 2. | UNREGISTERED SALES OF      EQUITY SECURITIES AND USE OFPROCEEDS |
|---------|-----------------------------------------------------------------|

| ITEM 3. | DEFAULTS UPON SENIOR      SECURITIES |
|---------|--------------------------------------|

| ITEM 4. | SUBMISSION OF MATTERS      TO A VOTE OF SECURITYHOLDERS |
|---------|---------------------------------------------------------|

| ITEM 5. | OTHER      INFORMATION |
|---------|------------------------|

| ITEM 6. | EXHIBITS |
|---------|----------|

| 31.1   | Certification      of Chief Executive Officer of the Registrant pursuant to Rule 13a-14(a) or      Rule 15d-14(a), promulgated under the Securities Exchange Act of 1934, as      amended.                                                      |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                            |
| 31.2   | Certification      of Chief Financial Officer of the Registrant pursuant to Rule 13a-14(a) or      Rule 15d-14(a), promulgated under the Securities Exchange Act of 1934, as      amended.                                                      |
|   |                                                                                                                                                                                                                                            |
| *32.1  | Certification      of Chief Executive Officer and Chief Financial Officer of the Registrant      pursuant to Rule 13a-14(b) or Rule 15d-14(b), promulgated under the      Securities Exchange Act of 1934, as amended, and 18 U.S.C.      1350. |

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SIGNATURES

|                    | COMMUNITY WEST      BANCSHARES                  |
|-------------------------|-------------------------------------------------|
|                    | (Registrant)                                    |
|                    |                                            |
|                    |                                            |
| Date:      May 14, 2008 | /s/ Charles G.      Baltuskonis                 |
|                    | Charles G. Baltuskonis                          |
|                    | Executive      Vice President and               |
|                    | Chief      Financial Officer                    |
|                    |                                            |
|                    | On      Behalf of Registrant and as             |
|                    | Principal      Financial and Accounting Officer |

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Table of Contents

| Exhibit |   |                                                                                                                                                                                                                                                      |
|---------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Number  |   | Description      of Document                                                                                                                                                                                                                              |
|    |   |                                                                                                                                                                                                                                                      |
|    |   |                                                                                                                                                                                                                                                      |
| 31.1    |   | Certification      of Chief Executive Officer of the Registrant pursuant to Rule 13a-14(a) or      Rule 15d-14(a), promulgated under the Securities Exchange Act of 1934, as      amended.                                                                |
|    |   |                                                                                                                                                                                                                                                      |
| 31.2    |   | Certification      of Chief Financial Officer of the Registrant pursuant to Rule 13a-14(a) or      Rule 15d-14(a), promulgated under the Securities Exchange Act of 1934, as      amended.                                                                |
|    |   |                                                                                                                                                                                                                                                      |
| 32.1*   |   | Certification      of Chief Executive Officer and Chief Financial Officer of the Registrant      pursuant to  Rule 13a-14(b) or Rule 15d-14(b), promulgated under      the Securities Exchange Act of 1934, as amended, and 18      U.S.C.1350. |

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