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CalWest Bancorp to 'reconstitute' board of directors

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CalWest Bancorp to 'reconstitute' board of directors

CalWest Bancorpis planning to "reconstitute" its board of directors by the end of thesecond quarter, the company said in its April 27 earnings release.

The Irvine, Calif.-based company said that at the end of thesame period, it also expects to have exited an enforcement action and fill all vacantjob openings.

"By the end of the second quarter we expect to have reconstitutedour Board of Directors, exited the Consent Order, filled all open staff positionsand built a strong new business pipeline," President and CEO Glenn Gray statedin the release.

According to SNL data, unit South County Bank NA is under a 2011 from the OCC whilethe company is under a written agreementwith the Federal Reserve Bank of San Francisco.

The company did not immediately respond to request for comment.

CalWest Bancorp reported net income was $104,000, or 1 cent pershare, for the quarter ended March 31.