CU Bancorp Posts 5% Gain in Profits

CU Bancorp, the Encino-based banking institution, reported that its third-quarter profits climbed 5% to $704,000, up from $671,000 in the same period a year earlier.

For the nine-month period, the five-branch bank posted a 14% increase in profits to $2.11 million, up from $1.86 million a year earlier.

The bank attributed its profit climb to steady growth in lending to medium-sized businesses.

The bank had total assets of $311 million as of Sept. 30, up from $280 million a year earlier.