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California United Bank Announces Expansion into Orange County Market with Banking Leaders Shirley Wentzel and Lisa Gorelick

^{Published on 2010-06-07 12:10:04 - Market Wire}
 

ENCINO, Calif.--([ BUSINESS WIRE ])--California United Bank (OTCBB:CUNB) today announced that Shirley Wentzel, a banker with 35 years of experience serving the financial needs of Orange County businesses and entrepreneurs, will join the Bank as Senior Vice President, Relationship Manager. Lisa Gorelick, a 29-year veteran of the banking business, will also join the Bank as Vice President, Relationship Manager for the Orange County Region.

"The rare blend of quality banking products, community involvement, and a high level of customer service that is at the core of California United Banka™s philosophy will make it a perfect fit for Orange County."

aOur expansion into Orange County with experienced, well-known bankers is a continuation of our strategy to seize opportunities, even in this difficult economy, and to make investments to build long term shareholder value,a commented President and CEO David Rainer. aOur Southern California-centric emphasis will now include eight experienced teams addressing the Los Angeles, Orange and Ventura County metropolitan areas, in locations from the far northern and western parts of Los Angeles County to southern Orange County, including Santa Clarita, Westlake Village, Encino, Los Angeles, South Bay and Glendale, with an Orange County office in process. Each of these locations furthers our plan to locate teams in areas densely populated by small and medium sized businesses, entrepreneurs and professionals. Our capital strength allows us to make these strategic investments which continue to build our franchise and future, rather than sacrifice long term development for short term profits.a

aWe are particularly pleased to welcome Shirley and Lisa, both of whom we have previously worked with. They will bring California United Banka™s unique brand of personalized service and products, supported by the security of capital ratios in excess of 'well capitalized' levels set by bank regulators, to the Orange County market,a concluded Rainer.

The announcement is the most recent of the Banka™s strategic growth initiatives. This follows the expansion into the Glendale/San Gabriel and Santa Monica Markets announced earlier in 2010. In 2009, the Bank added a regional manager to its Encino office and formed the South Bay Commercial Center.

Ms. Wentzel joins California United Bank from American Security Bank in Newport Beach where she was a Senior Regional Vice President focusing on Commercial and Private Banking. Prior to that, she was a Senior Vice President at US Bank, and before that held positions at American Interstate Bank, Far Western Bank, Great American Bank, and California First Bank. Ms. Wentzel has a record of local community involvement including service as a Founding Board Member of The Wellness Community of Orange County and past Presidencies of the Soroptimist of Irvine, the Laguna Playhouse, and Credit Women International. Currently, she is the Vice President of the Prentice School Board.

Ms. Gorelick also joins California United Bank from American Security Bank, where she worked alongside Ms. Wentzel since 2005 in the role of Vice President, Relationship Manager. Additionally, she has had a variety of relationship and operational roles at US Bank, Southern California Bank, National Bank of Southern California, Marine National Bank, and the Bank of Newport, all located in Orange County. Ms. Gorelick was extremely active in the Orange County Chapter of the Charter 100.

aBoth Lisa and I are looking forward to the opportunity to work with an Executive Team that has decades of banking success in Southern California,a said Ms. Wentzel. aThe rare blend of quality banking products, community involvement, and a high level of customer service that is at the core of California United Banka™s philosophy will make it a perfect fit for Orange County.a

About the Bank

California United Bank provides a full range of financial services, including credit and deposit products, cash management, and Internet banking for businesses, entrepreneurs and professionals in Southern California. The Bank operates from its headquarters office at 15821 Ventura Boulevard, Suite 100, Encino, CA 91436; Los Angeles Regional Office at 1640 South Sepulveda Boulevard, Suite 114, Los Angeles, CA 90025; Santa Clarita Valley Regional Office at 25350 Magic Mountain Parkway, Suite 100, Valencia, CA 91355; Conejo Valley Loan Production Office at 4333 Park Terrace Drive, Suite 215, Westlake Village, CA 91361; South Bay Loan Production Office at 1025 W. 190^th Street, Suite 225, Gardena, CA 90248 and Glendale/San Gabriel Valley Loan Production Office at 801 N. Brand Blvd, Suite 610, Glendale, CA 91203. Information on products and services may be obtained by calling (818) 257-7700 or visiting the Banka™s website at [ www.californiaunitedbank.com ].

SAFE-HARBOR LANGUAGE

This news release contains forward-looking statements about the Bank, for which the Bank claims the protection of the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's knowledge and belief as of today and include information concerning the Bank's possible or assumed future financial condition, and its results of operations, business and earnings outlook. These forward-looking statements are subject to risks and uncertainties. A number of factors, some of which are beyond the Bank's ability to control or predict, could cause future results to differ materially from those contemplated by such forward-looking statements. These factors include (1) difficult and adverse conditions in the global and domestic capital and credit markets, (2) continued volatility and further deterioration of the capital and credit markets, (3) significant changes in banking laws or regulations, including, without limitation, as a result of the Emergency Economic Stabilization Act, (4) continued uncertainty about the impact of the U.S. Treasury Troubled Asset Relief Program (TARP) and other recent federal programs on the financial markets including levels of volatility and credit availability, (5) a more adverse than expected decline or continued weakness in general business and economic conditions, either nationally, regionally or locally in areas where the Bank conducts its business, which may affect, among other things, the level of nonperforming assets, charge-offs and provision expense, (6) unprecedented volatility in equity, fixed income and other market valuations, (7) changes in market rates and prices which may adversely impact the value of financial products including securities, loans, deposits, debt and derivative financial instruments, and other similar financial instruments, (8) changes in the interest rate environment and market liquidity which may reduce interest margins and impact funding sources, (9) increased competition in the Bank's markets, (10) changes in the financial performance and/or condition of the Bank's borrowers, (11) a substantial and permanent loss of client accounts, (12) soundness of other financial institutions which could adversely affect the Bank, (13) increases in Federal Deposit Insurance Corporation premiums due to market developments and regulatory changes, (14) protracted labor disputes in the Bank's markets, (15) earthquake, fire or other natural disasters affecting the condition of real estate collateral, (16) the effect of de novo branching efforts, (17) the impact of changes in regulatory, judicial or legislative tax treatment of business transactions, (18) changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or regulatory agencies, and (19) the success of the Bank at managing the risks involved in the foregoing. Forward-looking statements speak only as of the date they are made, and the Bank does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the statements are made, or to update earnings guidance, including the factors that influence earnings.

For a more complete discussion of these risks and uncertainties, see the Banka™s Annual Report on Form 10-K for the year ended December 31, 2009 and particularly Part I, Item 1A, titled "Risk Factors."