Business & Finance
Business and Finance
Business and Finance
Mon, July 19, 2010 California United Bank Opens New Orange County Loan Production Office
ENCINO, Calif.--([ BUSINESS WIRE ])--California United Bank (OTCBB: CUNB) today announced the opening of its new Orange County Loan Production Office. The office will be located at 2361 Campus Dr. Suite #107 in Irvine. The office is in close proximity to the John Wayne Airport, as well as the 405 and 5 freeways.
"We are very excited to announce this significant step in our Orange County expansion"
As previously announced, Dan Palmquist, a veteran Orange County Banker, will serve as the Senior Vice President-Regional Manager for the Orange County Region. Also based in the new office are Senior Vice President Shirley Wentzel, Vice President Lisa Gorelick, Vice President Stephanie Juneau, and Relationship Business Associate Chris Kordik.
aWe are very excited to announce this significant step in our Orange County expansion,a said David Rainer, CUBa™s Chairman, President and CEO. aThis new location will allow us to introduce our relationship based banking model in an economically vibrant market. Dana™s team brings CUB a combination of local commercial banking experience and community involvement. This office, CUBa™s 7th location, expands our reach to a new market and reaffirms our dedication to the region for years to come.a
The office mailing address is: 2361 Campus Dr. Suite #107, Irvine, CA 92612. The phone number is 949-271-3000.
About California United Bank
California United Bank provides a full range of financial services, including credit and deposit products, cash management, and Internet banking for businesses and high net worth individuals. 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; Glendale/San Gabriel Valley Loan Production Office, 801 N. Brand Blvd., Suite 610, Glendale, CA 91203; South Bay Loan Production Office at 1025 W. 190th Street, Suite 225, Gardena, CA 90248, and Orange County Loan Production Office 2361 Campus Dr., Suite 107, Irvine, CA 92612. Information on products and services may be obtained by calling (818) 257-7700 or visiting the Banka™s Web site 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 company's Annual Report on Form 10-K for the year ended December 31, 2008 and particularly Part I, Item 1A, titled "Risk Factors."
