CU Bancorp Reports Drop in Earnings for Quarter

CU Bancorp, the Encino parent of California United Bank, said its earnings for the quarter that ended June 30 fell 40% from the same period a year ago, to $1.1 million from $1.8 million.

For the six months that ended June 30, CU Bancorp’s net income fell 40%, to $2.06 million from $3.4 million.

CU had assets of $548.7 million as of June 30, compared to $532.7 million a year earlier.