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Loropetalum chinense
The blooms are very small and delicate, less than 2 inches in diameter. Thank you for the ID help everyone!
A close relative to Loropetalum chinense is Witchhazel. It also blooms on the stems before the leaves come out in early spring. :)
Looks rather like western sweetshrub, Calycanthus occidentalis, but I don't think it normally blooms this time of year (of course, plants tend to deviate from the field guide data). Perhaps a cultivated variety of Calycanthus?