California United Completes Purchase of Bank

California United Bank completed its acquisition of California Oaks State Bank and has added two new branches. The deal between Encino-based California United and California Oaks is valued at $17.2 million. The merger expands and strengthens the California United franchise in Ventura County and builds upon the traditions of prudent banking and exceptional customer service, said California United President and CEO David Rainer. The new CUB branches are in Simi Valley and Thousand Oaks, which brings the bank to a total of six branches. “We look forward to offering California Oaks State Bank customers the convenience, technology, products, and services of a larger, full-service business bank, with the personal touch and quality service they’re accustomed to receiving from a community-oriented institution,” Rainer said. Mark R. Madler