CU Bancorp Receives 2016 Raymond James Community Bankers Cup
March 20 2017 - 9:05AM
Business Wire
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 2016 Raymond James Community Bankers Cup.
This is the second consecutive year CU Bancorp has been honored
with this award.
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, 2016. This
year, 281 community banks were evaluated for recognition.
“We are honored that Raymond James has recognized us once again
among an elite group of community banks for our superior financial
performance,” 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 2017, 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; increased cost of additional capital; 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,
including, but not limited to requirements and expenses relating to
the Bank Secrecy Act, the Company’s ability to demonstrate
compliance with the BSA Consent Order to the satisfaction of the
Federal Deposit Insurance Corporation (“FDIC”) and the California
Department of Business Oversight (“CDBO”), the possibility that any
expansionary activities will be impeded while the BSA Consent Order
remains outstanding, the Company’s ability to employ and retain
additional qualified BSA staff or third parties, 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. 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170320005282/en/
CU BancorpDavid Rainer, 213-430-7072Chairman and CEO
CU Bancorp (CA) (MM) (NASDAQ:CUNB)
Historical Stock Chart
From Apr 2024 to May 2024
CU Bancorp (CA) (MM) (NASDAQ:CUNB)
Historical Stock Chart
From May 2023 to May 2024