CU Bancorp Posts 13% Gain for Quarter
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CU Bancorp, the Encino-based holding company for California United Bank, reported a 13% gain in second-quarter profit.
In the three months that ended June 30, CU earned $791,000, up from a $699,000 profit a year earlier.
The company said it managed the profit growth despite costs from its acquisition of Corporate Bank in the first quarter, and its pending merger with Home Interstate Bancorp.
In the latest six-month period, its net income slipped 4%, to $1.36 million from $1.41 million.
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