CWB Financial Group

News & events

  • March 11, 2019

    CWB announces conversion privilege of non-cumulative 5-year rate reset First Preferred Shares Series 5

    Canadian Western Bank (“CWB”) (TSX: CWB) today announced that it does not intend to exercise its right to redeem all or any of its currently outstanding 5,000,000 non-cumulative 5-year rate reset First Preferred Shares Series 5 (the “Series 5 Preferred Shares”) (TSX: CWB.PR.B) on April 30, 2019.

  • March 07, 2019

    CWB reports first quarter financial performance

    Canadian Western Bank (TSX: CWB) (CWB) today announced strong operating performance with common shareholders’ net income of $66 million and pre-tax, pre-provision income of $118 million, up 7% and 10%, respectively, from the first quarter last year. Total revenue of $212 million was up 10% from last year, including a 13% increase in net interest income, partially offset by 13% lower non-interest income. Net interest income growth reflects the benefits of 13% growth in average loans and a nine basis point increase in net interest margin to 2.61%.

  • March 07, 2019

    CWB declares dividends

    Canadian Western Bank (CWB) today announced that its Board of Directors has declared a quarterly cash dividend of $0.27 per common share (TSX:CWB), payable on March 29, 2019 to shareholders of record on March 15, 2019. This quarterly dividend is up two cents, or 8%, from the dividend declared one year ago and one cent, or 4%, from the previous quarter. The Board of Directors also declared a cash dividend of $0.275 per Series 5 Preferred Share, a cash dividend of $0.390625 per Series 7 Preferred Share, and an initial cash dividend of $0.3832 per Series 9 Preferred Share all payable on April 30, 2019 to shareholders of record on April 23, 2019.

  • February 14, 2019

    McLean & Partners Wealth Management is now CWB McLean & Partners Wealth Management

    McLean & Partners Wealth Management, a subsidiary of CWB Financial Group (CWB), today announced a name and logo change to align its identity with the organization’s other brands. Effective today, McLean & Partners Wealth Management Ltd. is now CWB McLean & Partners Wealth Management Ltd. (CWB McLean & Partners).

  • January 31, 2019

    CWB announces board appointment

    Robert Phillips, Chairman of the Board for Canadian Western Bank (TSX: CWB) is pleased to announce the appointment of E. Gay Mitchell to the CWB’s Board of Directors effective January 31, 2019.

  • January 29, 2019

    CWB announces closing of preferred share offering

    Canadian Western Bank (“CWB”) (TSX: CWB) today announced that it has closed its domestic public offering of non-cumulative 5-year rate reset First Preferred Shares Series 9 (Non-Viability Contingent Capital (NVCC)) (the “Series 9 Preferred Shares”).

  • January 21, 2019

    CWB announces NVCC preferred share offering

    Canadian Western Bank (“CWB”) (TSX: CWB) today announced its intent to issue $100 million non-cumulative 5-year rate reset First Preferred Shares Series 9 (Non-Viability Contingent Capital (NVCC)) (the “Series 9 Preferred Shares”). The offering will be underwritten on a bought deal basis by a syndicate led by National Bank Financial Inc. and BMO Capital Markets. The expected closing date is on or about January 29, 2019.

  • January 21, 2019

    CWB announces increase to NVCC preferred share offering

    Canadian Western Bank (“CWB”) (TSX: CWB) today announced that as a result of strong investor demand for its previously announced domestic public offering of non-cumulative 5-year rate reset First Preferred Shares Series 9 (Non-Viability Contingent Capital (NVCC)) (the “Series 9 Preferred Shares”), the underwriters have exercised their option to purchase an additional 1,000,000 Series 9 Preferred Shares. The size of the offering has been increased to 5,000,000 shares.