Corporate Bank Acquisition Approved

CU Bancorp, the holding company of Encino-based California United Bank, said it has received the regulatory and shareholder approvals to acquire Santa Ana-based Corporate Bank.

The transaction, which involves stock and cash, should be completed within a week, CU Bancorp said. Corporate Bank, which has offices in Santa Ana and Anaheim, lost $49,000, or 10 cents a share, in the third quarter and had assets of $69 million.