PacWest Bancorp has acquired CU Bancorp in a transaction valued at approximately $705 million. CU Bancorp, headquartered in Los Angeles, is the parent of California United Bank, which has branches in Thousand Oaks and Simi Valley. The bank has about $3 billion in assets and nine branches in Los Angeles, Orange, Ventura and San Bernardino Read More →
Encino-based California United Bank completed its $17.2 million acquisition of Thousand Oaks-based California Oaks State Bank on Dec. 31. Cal Oaks shareholders will receive compensation of $11.35 per share, half in cash and half in shares of California United common stock, the banks announced Jan. 3.
Shareholders of both California United Bank and California Oaks State Bank gave the final go-ahead for the merger of the two institutions on Dec. 9
Thousand Oaks-based California Oaks State Bank and Encinco-based California United Bank said Nov. 24 that they’ve received the green light from federal banking regulators to complete their proposed acquisition deal.