82.1 F
San Fernando
Friday, Mar 29, 2024

California United Bank Defies Industry Norms

The second quarter report was very, very good for California United Bank showing a leap in net income to $91 million, a 193.5 percent gain over the $31 million earned in the same period last year. All other indicators were positive as well, with the balance sheet having zeros in all the right places: delinquent loans, non-accrual loans, real estate owned and chargeoffs. Total deposits for the quarter increased 42.4 percent while net loans were up 45.2 percent over the second quarter of 2007. For the first half of the year, California United has posted a net income of $2.4 million with diluted earnings per share of $0.47.

Featured Articles

Related Articles