4th-Quarter Profit Rises 4% for CU Bancorp

CU Bancorp, the Encino-based parent of California United Bank, said its fourth-quarter profit increased 4% from a year earlier, closing the books on a year in which the bank made a big turnaround.

CU Bancorp said it earned $591,000 in the quarter ended Dec. 31, compared with a profit of $566,000 a year earlier. For all of 1993, the company made a profit of $2.1 million, contrasted to a loss of $8.2 million in 1992. CU Bancorp reported total assets of $279.7 million as of Dec. 31, down 21% from the same time a year earlier.