California United Bank reported its assets reached $199.8 million as of March 31, up 12 percent from $178.3 million as of Dec. 31, 2006. The bank’s outstanding loans reached $119.9 million for the March 31 period, up from $95.5 million in the prior quarter. Compared to the year-ago period, Encino-based CUB saw its assets increase 71 percent and its loan portfolio rose 184 percent. Deposits grew 19 percent to $138 million in the current quarter, compared to the period ended Dec. 31, 2006 and 85 percent over the year ago period. The bank reported a net loss of $222,000 for the quarter compared to a loss of $666,000 for the quarter ended March 31, 2006 and $1.1 million for the period ended Dec. 31. The bank has been in operation for less than two years.
