Union Bank: Profit was $33.5 million in...

Union Bank: Profit was $33.5 million in the first quarter, the first full quarter since the Nov. 1 acquisition that created the current banking organization. In that deal, California First Bank of San Francisco acquired Union Bank of Los Angeles and then adopted the Union name. The company reported that the consolidation is progressing smoothly. The bank said the cost of its new signs and advertising came to $2 million in the quarter. Non-performing loans decreased slightly from year’s end, dropping to $253.9 million from $271.6 million, and the ratio of loan-loss reserves to total loans improved to 2.71% from 2.56%.