Assets Grow 22 Percent at CUB

CUB California United Bank reported total assets of $142.5 million at the end of its first full four quarters of operation on June 30, 2006, an increase of 22 percent over assets as of March 31. The Encino-based startup said deposits increased 32.2 percent to $98.8 million as of the end of its second quarter on June 30, compared with $74.8 million as of March 31. For the second quarter, CUB lost $618,000 compared to a net loss of $666,000 for the first quarter of 2006.