CU Bancorp Merger CompleteWednesday, August 1, 2012
Encino’s California United Bank on Wednesday said that it has completed its acquisition of Premier Commercial Bank N.A., a subsidiary of Premier Commercial Bancorp.
Premier Commercial Bank’s branch offices in Anaheim and Irvine/Newport Beach become full service offices of California United Bank, said David I. Rainer, chief executive of CU Bancorp, the new holding company for the merged banks. The stock will trade under California United’s former ticker symbol “CUNB” on the Over-the-Counter Bulletin Board.
The stock deal, first announced in December, was valued at $38.2 million