CU Bancorp (NASDAQ: CUNB), the parent company of wholly owned California
United Bank, today announced that it has been recognized as a recipient
of the 2015 Raymond James Community Bankers Cup.
Raymond James, a financial services investment company, annually
presents the award to the top 10% of community banks based on various
profitability, operational efficiency, and balance sheet metrics. The
pool of community banks considered for recognition includes all
exchange-traded domestic banks, excluding mutual holding companies and
potential acquisition targets, with assets between $500 million and $10
billion as of Dec. 31, 2015. This year, more than 300 community banks
were evaluated for recognition.
“We are honored that Raymond James has recognized us among an elite
group of community banks for our superior financial performance in
2015,” said David Rainer, Chairman and CEO of CU Bancorp and California
United Bank. “As their analysis highlights, recipients of the Community
Bankers Cup, including CU Bancorp, have on average far outperformed the
broader banking industry as measured against the one-year, three-year
and five-year returns of the NASADAQ BANK Index, as well as compared to
the broader NASDAQ Composite and S&P 500 indexes. In 2016, we continue
to execute on the same sound strategies that have led to our
outperformance in previous periods.”
Recipients of the Community Bankers Cup demonstrated superior
performance on a relative basis in one or more of the following
measurements of financial performance and stability: nonperforming
assets to loans and real estate owned, five-year average core deposit
percentage, net interest margin, efficiency ratio, return on average
assets, and return on average tangible common equity.
About CU Bancorp and California United Bank
CU Bancorp is the parent of California United Bank. Founded in 2005,
California United Bank provides a full range of financial services,
including credit and deposit products, cash management, and internet
banking to businesses, non-profits, entrepreneurs, professionals and
investors throughout Southern California from its headquarters office in
Downtown Los Angeles and additional full-service offices in the San
Fernando Valley, the Santa Clarita Valley, the Conejo Valley, Los
Angeles, South Bay, Orange County and the Inland Empire. California
United Bank is an SBA Preferred Lender. To view CU Bancorp’s most recent
financial information, please visit the Investor Relations section of
the Company’s Web site. Information on products and services may be
obtained by calling 818-257-7700 or visiting the Company’s Web site at www.cunb.com.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking information about CU
Bancorp (the “Company”) that is intended to be covered by the safe
harbor for “forward-looking statements” provided by the Private
Securities Litigation Reform Act of 1995. All statements other than
statements of historical fact are forward-looking statements. Such
statements involve inherent risks and uncertainties, many of which are
difficult to predict and are generally beyond the control of the
Company. Forward-looking statements speak only as of the date they are
made and we assume no duty to update such statements. We caution readers
that a number of important factors could cause actual results to differ
materially from those expressed in, implied or projected by, such
forward-looking statements. Risks and uncertainties include, but are not
limited to: lower than expected revenues; credit quality deterioration
or a reduction in real estate values which could cause an increase in
the allowance for credit losses and a reduction in net earnings;
increased competitive pressure among depository institutions; the
Company’s ability to complete future acquisitions, successfully
integrate acquired entities, or achieve expected beneficial synergies
and/or operating efficiencies within expected time-frames or at all; the
cost of additional capital is more than expected; a change in the
interest rate environment reduces net interest margins; asset/liability
repricing risks and liquidity risks; legal matters could be filed
against the Company and could take longer or cost more than expected to
resolve or may be resolved adversely to the Company; general economic
conditions, either nationally or in the market areas in which the
Company does or anticipates doing business, are less favorable than
expected; environmental conditions, including natural disasters and
drought, may disrupt our business, impede our operations, negatively
impact the values of collateral securing the Company’s loans and leases
or impair the ability of our borrowers to support their debt
obligations; the economic and regulatory effects of the continuing war
on terrorism and other events of war; legislative or regulatory
requirements or changes adversely affecting the Company’s business;
changes in the securities markets; regulatory approvals for any capital
activities cannot be obtained on the terms expected or on the
anticipated schedule; and, other risks that are described in CU
Bancorp’s public filings with the U.S. Securities and Exchange
Commission (the “SEC”). If any of these risks or uncertainties
materializes or if any of the assumptions underlying such
forward-looking statements proves to be incorrect, CU Bancorp’s results
could differ materially from those expressed in, implied or projected by
such forward-looking statements. CU Bancorp assumes no obligation to
update such forward-looking statements. For a more complete discussion
of risks and uncertainties, investors and security holders are urged to
read CU Bancorp’s Annual Report on Form 10-K, Quarterly Reports on Form
10-Q and other reports filed by CU Bancorp with the SEC. The documents
filed by CU Bancorp with the SEC may be obtained at CU Bancorp’s website
at www.cubancorp.com
or at the SEC’s website at www.sec.gov.
These documents may also be obtained free of charge from CU Bancorp by
directing a request to: CU Bancorp c/o California United Bank, 15821
Ventura Boulevard, Suite 100, Encino, CA 91436. Attention: Investor
Relations. Telephone 818-257-7700.
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